Virtual land, online shops, play-to-earn games, and much more, metaverse offers a wide range of business opportunities.
Metaverse is known for offering its realistic virtual experience where users can interact with other players and do various virtual activities such as concerts, online shopping, meetings, classes, etc.
Many want to make a profitable return on investment by starting businesses in the metaverse.
According to marketsandmarkets, The global market size of the metaverse is estimated to reach USD 426.9 billion by 2027 at a CAGR growth of 47.2%.
If you also want to take advantage of this fantastic opportunity, let’s explore some best metaverse business ideas for your investments.
However, before starting with a list of metaverse business ideas, let’s check why to invest in metaverse by looking at its market size.
Here is the predicted market size of the metaverse:
The metaverse’s future seems promising as many big brands have already entered this virtual world.
Have a look at some famous brands telling us why it is the right time to enter the metaverse:
Nike launched its metaverse platform, Nikeverse, in November 2021, where visitors can play mini-games.
In January 2022, Samsung launched its store in the Dedentraland metaverse platform.
Hyundai’s launched its video game, which provides an immersive experience between characters and Hyundai’s newest technology.
Coca-Cola has launched the collection of their NFT assets to show a large variety of their virtual avatars on the international friendship day of 2021.
Famous sports and fashion wear brands such as Tommy Hilfiger, Adidas and Gucci have launched their NFT collection on metaverse platforms.
Not just these big business giants but many startups are preparing to enter the metaverse.
If you wish to benefit from this virtual world, let’s explore the best metaverse business ideas for an excellent investment for profitable returns in the future.
Top metaverse business ideas
Let’s explore the most popular metaverse business ideas you should check to make an excellent investment in the metaverse.
1. Host virtual events
No one can beat metaverse when we talk about offering realistic experiences.
Many artists have started attending their events and concerts. For example, Travis Scott and Ariana Grande have given their performances in Fortnite shows that they attended virtually.
You can build your virtual platform to allow businesses and artists to organize virtual events in the metaverse.
2. Start an educational business
Learning something with the help of VR and AR gadgets can help students learn deeply from the educational content.
Many brands, such as winkyverse, metaverse.school, have established their virtual academic business.
If you are skilled in something, you can start your educational course that students can access with the help of AR and VR gadgets more effectively.
3. Enter the fashion industry
Virtual shopping provides a more entertaining way for customers to purchase clothes and accessories.
Users can create an avatar and try different clothing accessories to understand how the product matches their personality.
Recently, BNV (a famous digital fashion platform) announced they would create their metaverse where users can try their fashion products in an ultra-realistic 3D experience.
You can also start your virtual store in metaverse, where you can allow your customers to purchase fashion accessories from your business partners.
4. Offer virtual workspace
The rising trend of remote workplaces makes many businesses have already started to book their virtual workplace on the metaverse.
Microsoft recently established its workplace on the metaverse platform to offer its employees an engaging workplace experience.
Investors who have already purchased real estate in the metaverse can turn that place into an exciting virtual workplace for organizations.
5. Provide Ad space
Many brands are looking to expand their business by promoting their business among the audience of the metaverse.
Like the real world, the metaverse also includes billboards in different places. For example, billboards in the Metaverse Cryptovoxles are charged weekly at one ETH.
Many companies are experiencing an advertisement strategy and rent out billboards in the metaverse. Billboards help them get quick results at a low cost compared to existing methods.
Recently, Roblox has established two types of billboards in the metaverse where one is static, and the other is dynamic. Static is just like a traditional billboard, while in a dynamic billboard, there comes a portal where users can enter the different virtual worlds created by brands.
6. Digital real estate
Purchasing real estate properties in the metaverse is becoming one of the most popular business options.
Popular platforms, such as sandbox Decentraland, Crypto Voxels, and Somnium, made over $500 million last year. However, each virtual land is unique, secured by NFTs that follow the Proof of Ownership.
Therefore instead of investing in real estate, creating your virtual land by building your metaverse can be a more profitable business idea to attract millions of investors worldwide.
7. Virtual shopping platform
With the help of a realistic experience, anyone can start their online shopping platform where different sellers can begin selling their products to the metaverse users.
The virtual shopping platform includes buying and selling products with the help of cryptocurrency and NFTs, where all the products can be accessed using VR gadgets.
Here’s the list of famous brands that launched their shopping platform in the metaverse:
8. Sell NFTs
BYOB, Azuki, and many more NFTs have already attracted large numbers of investors to their collections. NFTs stand for non-fungible tokens, where creators can tokenize their digital art.
Create some fantastic graphic collections and mint them on the popular NFT marketplace.
Even if you don’t have graphic design skills, you can still make money from NFTs by purchasing some popular ones and selling them at higher prices.
Also, creating your NFT marketplace can be another best option for your investment, where you can allow NFT creators and buyers to sell and purchase NFTs, where you will earn profit as a commission on each sale.
9. Make money from 3D models
Metaverse is a virtual 3D world where all the objects, be it buildings, characters, vehicles, and others, exist in the form of 3D models. Also, many businesses planning to create their metaverse will need 3D objects to create their metaverse environment.
So, you can create a collection of 3D objects ranging from characters to infrastructure for selling them to companies that will build and launch their metaverse.
Also, you can create your marketplace where you can sell different models to the users for the existing metaverse. Therefore, this would be an excellent option among other metaverse business ideas if you are good at 3D model creation.
10. Build your game
Popular metaverse games such as Sandbox, Decentraland, and others manage to attract billions of users to their platforms.
Each game has unique cryptocurrency and tokens that users can purchase for trading and buying in-game assets, such as NFTs that include fantastic characters, costumes, and other virtual gaming accessories.
Players can play metaverse games with the help of VR gadgets, providing them with a realistic gaming experience. Check top play to earn games to make money on metaverse.
However, many entrepreneurs have started making clones of superhit metaverse games to take advantage of this ongoing future-proof business opportunity.
Have a look at why most businesses prefer the metaverse.
Why are most businesses moving towards the metaverse?
Many reasons make a business move towards the metaverse. However, some most popular advantages businesses are getting from metaverse are given as follows:
A. For retail business
For retailers, the business has experienced the following benefits through the help of the metaverse.
I. New income source
Establishing businesses on the metaverse helps them generate an additional income source from the audience actively present on it.
II. Low return products rates
On metaverse, the VR gadgets help customers to experience the products, such as their design, more deeply and help them to decide to select the exact product based on their requirements.
Getting the perfect product helps businesses lower the return rate of the products that customers purchase through the e-commerce platforms on the metaverse.
III. Free market research
Businesses can test the prototype of their product on the metaverse before launching it on a full scale in the market. The business can take feedback from their customers by offering their products on the metaverse.
Also, the customer can access that product in detail with the help of VR gadgets for giving in-detail feedback to that company.
B. For B2B business
Many service-based businesses are also preferring using metaverse for the following reasons:
I. Great collaboration and networking
Metaverse helps businesses find new opportunities to build a relationship with their clients by interacting with them through the help of virtual avatars.
Research shows that face-to-face interactions are 34x more effective than any text-based language, so interacting with the clients deeply with the help of the metaverse can be more fruitful for the business.
II. New marketing and advertising opportunities
Metaverse offers advertising opportunities to attract new clients that are present in the metaverse.
The metaverse helps companies create targeted ads to attract their potential clients and customers to get profitable business results.
III. Helps improve employee productivity
The immersive experience helps businesses train their employees effectively by offering them engaging virtual learning experiences and allows employees to learn required skills faster.
Learning new skills in less time helps companies to improve their employee productivity to get positive results in their business.
If you still don’t have any business, you can start your own business in the metaverse, and here is the best way to do that.
What is the best way to start a business on the metaverse?
There is no doubt that the metaverse provides multiple business opportunities, and we all know it is the right time to enter this virtual world to start a business and invest.
If you wonder how to build your digital business on the metaverse when you have no development experience, Here is a quick solution.
Connect with metaverse development companies having experience creating digital products on metaverse for their clients.
You can contact Idea Usher to discuss your project requirements for starting your metaverse business. Their team’s expert blockchain developers can help you build your desired metaverse platform.
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