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Webheads / News / What is the metaverse and why should your business care?
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What is the metaverse and why should your business care?

The metaverse. It's a word you might have heard quite a lot of in the technology sector. Ever since Facebook founder Mark Zuckerberg rebranded his company as 'Meta,' more and more attention has been drawn to the metaverse.

But that announcement also left a lot of people confused as to what he was talking about. What is the metaverse and why are so many businesses, brands and influencers embracing this virtual world? If you’re wondering why it’s time to start taking the metaverse seriously from a business point of view, we’re here to explain why.


What exactly is the metaverse?

The term metaverse actually comes from a 90’s science fiction book called Snow Crash, where people used avatars in virtual reality to interact with one another. In reality, people have all sorts of terms to describe it – but ultimately it is a completely virtual world where users can live and play, using their avatars to interact with one another and purchase products such as NFTs.


Is it the same as virtual reality?

You can use a virtual reality headset in the metaverse, but you don’t have to. The main focal point of the metaverse is that it is a place where people use digital avatars of themselves to interact. However, using virtual reality would certainly make the experience a lot more immersive!


Why does the metaverse matter to businesses?

The main reason why you should start to consider using it for your business is that the metaverse is essentially a potential new income stream for your brand. You can profit from the sale of virtual goods such as NFTs and cryptocurrencies while also having brand awareness in yet another online space.

This isn’t a new phenomenon of course, just look at the video game Fortnite as an example. On here, millions of users don’t just play the game; they purchase virtual goods such as special brand-partnership skins for their avatars using virtual money. While they are using real money to buy these goods, they have to first convert their cash into Fortnite’s very own currency known as a ‘V-Buck.’ The metaverse will replicate this but on a much larger scale.

But it’s not just sales that businesses can benefit from though. The metaverse also opens up some fantastic opportunities for brands and their customers to connect with each other through content. This includes:

  • Virtual events
  • Playful content that can be unlocked (possibly through NFTs)
  • Sharing thought leadership

The main point to take away from the metaverse is that you shouldn’t ignore it! Consider ways in which your business can start to interact with these audiences to engage them – can you build loyalty and trust? It doesn’t hurt to experiment a little, as there’s no doubt that this virtual world is here to stay.

If you’re looking for an experienced web agency to help with your brand’s digital strategy and wider online presence, then look no further than Webheads! We have over 30 years of experience in web design and strategy, so we really know what makes the internet tick! If you’re interested in hearing more about our services, please get in touch today and a member of our team will be happy to help with a FREE consultation call!

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