Blockchain Blog 21: Industries disrupted by the Metaverse.

Aakash S
Coinmonks

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Metaverse will bring new opportunities for people that work in these industries. So we have social media, obviously, social media is a big one. Even the Facebook company Meta, they’ve changed its name to Meta and they plan to move to these worlds. And other companies like Snapchat, are experimenting a lot with augmented reality, Instagram, which belongs to Meta is also experimenting with augmented reality. In all these filters, you can say that the filters that we have on social media are kind of a little bit already augmented reality. Tik Tok was also experimenting or going to start doing NFTs where the content creators could do an NFT out of their Tik Tok posts.

Gaming: Half of the metaverse platforms have to do with games. And the reason why they have to do with games is that Games are a big use case because people spend a lot of time playing games. The new generation, Generation Z, and the millennials spend thousands and thousands or millions of hours playing games.

Fashion: We are still in the early days of having fashion brands creating digital clothes, but this is really huge and you start to see big brands going to the metaverse and producing digital fashion. And NFTs also allow the creators, the artists to later receive secondary market sales.

Marketing: People now will be able to do marketing and advertisements on the metaverse because even many years ago, The Sims, Second Life, and other games you see are ready brands advertising there. You have Coca-Cola and many different brands that put their own headquarters there and put advertisements in these games. The Metaverse is going to be the same.

Atari is buying plots of lands on the Sandbox and Decentraland, and they are building things in these metaverses. So this is very important for marketing for brands.

Snoop Dogg Drops 10,000 Playable Sandbox Avatar NFTs

Even artists like, for example, you see here, Snoop Dogg, Snoop Dogg is very heavy into NFTs and the Metaverse, and he has a big plot of lands worth probably more than a million dollars in the Sandbox. And he is going to do like these online concerts.

Finance: Finance in the metaverse is going to be important, just like in the real world you can get a loan, for example, you have payment systems, you have this and that, in the metaverse world. So in this case, you can do the same with digital assets, with your digital house, with your digital land, with your digital NFTs you can put them as collateral and get a loan from that.

Architecture: It is also being impacted by the Metaverse. Now people can build buildings in the metaverse, and I will share with you this article Designing the Metaverse the role of architecture in virtual environments. Metaverse architecture is also trending quite a lot because if people are going to spend time in the Metaverse, they want to have beautiful buildings.

In Decentraland and other online worlds where you can show off your digital art. And finally, country diplomacy. Yes, even for country diplomacy, Barbados was the first country to open an embassy in the Metaverse.

If metaverse is kind of this decentralized world where everyone has access to this world, it’s very interesting for country diplomacy also to have some presence in this digital world to allow their citizens to interact or other people from other countries to interact with this country and to have access to their traditions, to their art and all that stuff.

Although this blog is limited to a few industries, we could expand this out to countless industries including technical security, education, workplace training, sports events, fitness, film industry, streaming entertainment industry, art, gambling, and even crime scene investigation. Any enterprise that has a vision for making its products more interactive will have its eyes on the metaverse.

The metaverse will not only bring about a new way of doing things, but it will also bring about new businesses that provide experiences that don’t exist today, and with that new types of jobs to fulfill those business needs.

The metaverse may very well exist parallel to multiple industries for the foreseeable future, but as new generations shift their preferences and choose how they want to interact with companies and other people, this may bring an end to traditional business as we know it today. Until then, enjoy the physical world because the reality that we see can also be an illusion.

You can watch this video...

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