What is the impact of Metaverse on business?

Wondering how Metaverse will affect future business value?

I recently spoke with Emma Ridderstad, CEO of Warpin Media, an immersive technology solutions company focused on bringing the Enterprise Metaverse to forward-looking organizations.

When I asked Emma what virtual worlds meant to her, she said she imagined virtual worlds as everything we do online today—through our smartphones and our computers—but with the ability to use virtual reality and augmented reality Reality does it all in immersive 3D.

In the Metaverse, we will be able to move seamlessly between worlds so we can work better, play better, and communicate more freely. “This technology allows us to engage with more senses at the same time, so it’s a richer experience,” says Emma.

What is the future business value of Metaverse?

Warpin Media works with innovative companies that have recognized the potential power of the metaverse, and we discuss some of the unique use cases that companies have rolled out.

For example, businesses are already using augmented and virtual reality to deliver experiences to consumers and engage them like never before. When a new Star Wars movie premiered in Japan, clothing retailer H&M set up a designer booth in their Tokyo store. Shoppers can wear Magic Leap augmented reality glasses to turn a plain black T-shirt into a custom garment to take home.

Other companies are finding ways to use AR and VR to let customers try on or try out their wares. For example, luxury car company Ferrari shows off their models in augmented reality, so car buyers can “walk” around the car and even delve into the car’s engine and braking system.

Many retailers are also looking into how to offer 3D virtual versions of their products. More and more consumers will be interested in purchasing NFT clothing that is similar to physical clothing and accessories.

Businesses can also add value by incorporating storytelling into their customers’ immersive experiences. A whisky company teamed up with a hotel to concoct a new cocktail, then created an immersive experience that takes consumers to Scotland, flying over the Highlands, giving them insight into the whisky-making process and giving them a virtual tour winery. After the virtual tour, you take off your VR glasses and your whiskey cocktail is in front of you. These immersive brand story experiences are a great way for companies to connect with customers in innovative ways.

Emma added: “From a consumer perspective, you’ll have more information about the brands and products you’re buying—because this is the first time you’re not limited to 2D printed ads or commercials. You can To actually use the product…it’s like interacting with a normal ad, but bringing it to life in 3D.”

What forward-looking companies should do to prepare

When I asked Emma’s advice for companies looking to get started with Metaverse technology, Emma said:

“Every company should start thinking about using virtual reality for their own in-store or employee training. Companies can experience the metaverse through virtual and augmented reality and use it to practice what you already need to practice within the company – you can get it from Get all the benefits in cost savings and improved retention.”

She also recommends a policy of thinking big, starting small, and testing often.

“Have the ultimate goal of this technology you can imagine, but start with a very small project and see how it goes,” Emma added. “You’re presenting yourself in a whole new way, and then seeing how the technology solves the problems that companies face.”

Companies should also bring in different voices to contribute to the project. When entering the metaverse, companies need not only technologists, but people who understand human behavior so that we can create safe and secure metaverses that people want to enter.

A Greater Vision for the Metaverse

In her work with Warpin, Emma has a larger vision for the metaverse.

“I hope we can use this technology to enhance the human experience…to build bridges between humans. I hope we work with empathy and creativity and use the metaverse to bring people together.”

To learn more about the future of technology and business, visit my blog or head over to my YouTube channel to watch more conversations with leading industry experts.

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