Metaverse Markets and Business Forecasts in the 2022 Industry Report by GamesPad

0

Road Town / British Virgin Islands – Gaming, NFT and the Metaverse ecosystem GamesPad has published Metaverse: Emerging Business Opportunities, a comprehensive research paper that explores how the metaverse will influence crucial business sectors, examines the opportunities presented by this new concept, and offers strategies to capitalize on these opportunities.

GamesPad believes the Metaverse will transform every aspect of our lives, from how we socialize to how we work, buy, and even consume content. In the report, GamesPad lists new markets that are emerging through the evolution of the Metaverse and advises entrepreneurs, thought leaders, and business owners on the importance of establishing a Metaverse business strategy. In this article, we’ll explore predictions and insights on the future of business in the Metaverse by contributors to the Metaverse Industry Report 2022 by GamesPad.

The Future of Business in the Metaverse

The metaverse economy is expected to reach a value of $13 trillion by 2030. Many large consumer companies, especially tech giants, have already started to explore and invest heavily in the metaverse, which puts highlight the potential business opportunities in a large number of countries. current industries.

In the research paper, GamesPad and BullPerks co-founder Constantin Kogan commented: “The importance of the metaverse is twofold. First, its decentralized nature is revolutionary in transferring power from a single corporate entity and giving it back to the people. The second is connection. A shared community where everyone can be whoever they want to be. It matters because empowered people who feel supported by the community can change the world.

Anastasia Drinevskaya, CEO and Chief Creative Officer of Cointelegraph Communications, added: “Technological innovation is the key ingredient in how the opportunities of the Metaverse will be presented to business leaders. As the Metaverse evolves, strategies will become clearer. In a limitless virtual world that enables users to explore and interact, the metaverse will be powered by an independent virtual economy using blockchain and NFTs.

In the report, GamesPad notes that businesses of all kinds can have their share of the Metaverse, though they should develop a Metaverse business strategy in the early stages to maximize its impact.

Fashion

Fashion brands will play a crucial role in shaping the emerging stages of the metaverse. Digital self-expression will become the primary way people express their personality, mood, and style in the metaverse, necessitating a whole new industry focused on branded avatar skins and other digital apparel. . However, metaverse fashion is not limited to this and offers more opportunities.

Wahid Chammas, President and Co-Founder of Faith Tribe, Co-Owner of Faith Connexion and Founder and CIO of TyreGate Capital, commented : “Today’s consumers demand immersive experiences, where they can express their identity through fashion in their physical and digital realms. As we like to say at Faith, digital fashion is not just about avatar clothing. It is a growing fashion subculture that includes the digital design and modeling of real-world clothing, the uploading of real and digital clothing designs to the blockchain (so that these designs can be sold as NFT) and even digital clothing rendered on real people.

Moreover, the metaverse serves as the perfect environment for creativity and self-expression for all users, especially for content creators, artists, and fashion designers.

The creative freedom that comes with digital design is of profound utility to fashion designers and artists of all kinds. Our evolving digital world has changed the way the masses interact with fashion brands and clothing in general. Physical clothing is no longer the most important element. – said A.Bahadir Yener, founder of Metawear. – Fashion goes beyond fabric and fashion designers are harnessing the creative freedoms of digital design to rekindle a spark in consumers to discover their own digital and physical identity. Digital fashion has the potential to be both inspiring and accessible in ways that the physical world does not.” – he added.

E-commerce

Travis Wu, Founder of Highstreeton e-commerce opportunities for brands in the metaverse: “The people of the metaverse already spend hundreds, even thousands of dollars on virtual assets, whether it’s character skins or weapons, players understand the emotional payoff of customizing digital avatars. What Web3 does is decentralizes these assets from the studio’s game servers and gives true ownership to players, then allowing them to resell digital assets to their peers. For brands, this not only creates a whole new market for distribution, but also unlocks the fastest growing demographic for their sales.”

Immovable

As the boundaries of real-world geography blur, virtual real estate offers opportunities in digital landscapes, virtual games, and entertainment. GamesPad believes that investing in a single Metaverse location has the potential to reach a larger share of customers than most physical locations. Currently, the expansion of the metaverse relies heavily on trading and renting digital real estate.

Eran Elhanani, co-founder of GamesPad and BullPerks, said:We all know from the traditional real estate world that when supply is limited and demand is high, prices go up and it’s all about location, location, location. The same is true for the Metaverse. While there may be multiple digital worlds/metaverses, just like countries and cities, there will be some that are more successful and appealing than others and it will be a matter of buying land in those where it is. is also limited.”

Games

Gaming and entertainment platforms will be at the forefront of metaverse development. Gamers have generally shown a preference for games that offer immersive experiences with 3D graphics and VR-enabled titles, placing the already burgeoning GameFi industry in a unique position to benefit from the metaverse.

“Game developers are focusing more on economic incentives in gameplay as the GameFi model is quickly becoming the most important feature for metaverse game projects. Monetizing games keeps players interested and invested, and decentralized finance (DeFi) makes it all possible. As we see more and more game projects extending functionality to be more immersive and using technologies such as augmented reality and virtual reality, we will also notice that games ready for the metaverse will have structures incentives that will allow players to earn real income. – Phillip Devine, CEO of CryptoBlades Kingdoms.

Entertainment

Over the past year, we’ve seen exciting entertainment projects like Snoop Dogg and Deadmau5 hold full-fledged virtual concerts. GamesPad believes the Metaverse will make concerts and other virtual events limitless and borderless, allowing global audiences to participate and enjoy the exhibits.

Brian Hazan, Co-Founder and Chief Revenue Officer at THE HUSL, commented: “Players in the entertainment industry could have the most lucrative opportunities in the metaverse. This emerging virtual space is attracting immense interest among young people, a social cohort that is most excited about new types of entertainment. That’s why gaming, mass media, and even event management companies are joining the metaverse, trying to create a virtual replica of their real-world services to capitalize on the opportunity and expand their audience.

Marketing

The metaverse can make digital marketing even more exciting because of the fully immersive experiences it entails, allowing businesses to engage with customers on a whole new level. Some of the metaverse marketing strategies include metaverse ads, virtual influencers, metaverse events, and metaverse commerce.

Dana Kachan, CMO at GamesPad and BullPerks, commented on marketing in the metaverse:The metaverse is the next big revolution in digital marketing. Marketers have always strived to create more immersive and exciting brand experiences. Today, there’s probably no better place for it than the Metaverse. From virtual showrooms to test drives to online shopping – in the metaverse, it will all take on a new form and skyrocket customer engagement. Imagine a Ferrari test drive on the virtual streets of Los Angeles, Bangkok or any other place in the world.”

Conclusion

The metaverse can help any business engage with customers, increase brand awareness, and identify new revenue streams. With the help of Metaverse: Emerging Business Opportunitiesyou can explore the markets of the metaverse, the opportunities presented by this new concept, as well as the strategies to capitalize on these opportunities.

The research paper is authored by GamesPad and BullPerks co-founders Constantin Kogan and Eran Elhanani. He flies over more than 20 metaverse trendsunique statistics collected around 1,000 respondentsas well as ideas by the top industry experts and thought leaders including:

You can download it for free here.

Contact:

Dana Kachan
Marketing Manager at GamesPad
[email protected]

Visit us on social media:

Twitter
Youtube
Official Telegram Announcements
Medium
instagram
Facebook
LinkedIn

Share.

Comments are closed.