Be Your Own Boss: Get Ready To Launch Your Business In The Metaverse

Ever wondered why is everyone talking about the Metaverse? Could it really be the future? Or is it just another bubble waiting to burst? Well, we can tell you for a fact (in our most humble of opinions) that the Metaverse is here to stay. It would seem that the potential offered by the Metaverse, a network of 3D virtual worlds focused on social connection, is virtually unlimited.

Here at Mallconomy, we have often said that the potential of the Metaverse is limited only by one’s imagination. Imagine an immersive Disney store, where one could walk straight into a scene from Wreck-It Ralph, only to be served by a virtual Iron Man, as they look for their next Disney-themed avatar merch, or the latest NFT backed, instalment of a Marvel Franchise movie.

The potential offered by this new interconnection of virtual worlds, and by the first example of true ownership, offered by NFTs, is truly now only beginning to show its full potential. This new virtual social reality will become perhaps not just something but everything we enjoy in the future is not some bubble that would just burst due to a lack of utility. It is the future.

Now, as a business owner, you want to make sure you are up to date with the latest trends (Do you use a typewriter to enter data? We guess not). Every business statistically does better when it aligns itself with the current technology. You want to make sure your business is not left behind. So, how about taking your business to the Metaverse?

Yes, this can be a lot to take in considering the Metaverse is a new concept. How are you sure it is even going to succeed? But remember, the earliest adopters of nascent technology, whilst they admittedly accept more of the share of the risk, are usually the ones that get to benefit the most — imagine buying Bitcoin in 2013, for example!

Is There A Demand For Metaverse Businesses?

As a business owner, you naturally want to know if there is a demand for your products. Would you sell baby items in a place with a lot of old people? Probably not! So you might be worried that nobody is going to buy from you in the Metaverse, or it is just going to be a complete waste of your time. Well, did you know that over 7 million people visited Nike’s Metaverse store when it was just 5 months old?

That’s right! In less than a year, millions of people flocked to Nikeland, Nike’s virtual store on Roblox. In fact, Nike has made $185 million on NFTs so far, beating out Gucci, Tiffany, Dolce & Gabbana and Adidas, amongst a host of others, for the top spot on a new list ranking the space’s highest earners.

Companies like Meta, who invested upwards of $10 Billion into the Metaverse last year, have already started building a Metaverse workplace called Workplace, where people can work remotely and do business exactly the same way they do in real life. The foundations are already being set at pace for mainstream adoption.

Here are some more fun predictions to sink your virtual teeth into:

• The metaverse market was worth $478.7 billion in 2020 and is expected to be worth $800 billion by 2024
• 74% of US adults are joining or considering joining the metaverse
• By 2026, 25% of people will spend an hour in the metaverse and 30% of companies will offer services and products for the metaverse

So, If you own a company and want to launch into the Metaverse, we highly doubt there will be a better time than now. The Metaverse is just getting started, there’s land here for grabbing, but not for long — if you want to be your own boss, the Metaverse is precisely the next place you want to be!

What Are Examples of Good Metaverse Business Ideas?

You are ready to launch into the Metaverse: you are convinced it is the next step to take. But, there is one problem: you don’t know what to sell. If you already have a business in the real world, then you already know what you want to do once you hit the Metaverse. If you see just starting out, we can help you with some Metaverse business ideas.

Don’t limit yourself to anything. Think of what you would love to sell in real life and translate it into the Metaverse. You could sell:

• Virtual Fashion: Global spending on virtual goods reached a whopping $110 billion in 2021, more than double the total in 2015, with around 30% of that attributed to virtual fashion.
• Escape Rooms: Everyone loves an escape room, right? And I don’t mean getting accidentally locked in the bathroom at McDonald’s. We mean rooms in which people are locked, requiring them to solve a series of puzzles to accomplish a goal, generally finding a key to unlock the room in a limited amount of time. Now imagine that situation but without the confines of reality, with an unlimited number of contestants (and hence unlimited earning), playing in a virtually unlimited number of rooms — something bricks and mortar options could never keep up with.
• Comic Book Store: On the face of it, this might sound like an odd one. Imagine literally being able to step into your favourite comic book to buy the latest edition of Batman, then quickly switching from the DC universe to the Marvel universe whilst you grab the latest Spiderman.

Opening A Metaverse Business

You can get ready to start building in the Metaverse right now with Mallconomy! All you need to do is sign up, and then get ready to secure your shop, to start selling whatever you want! With us, it’s really not hard to get your Metaverse business up and running.

Our #mallverse will be made up of businesses just like yours, who took a step in the right direction and launched into the Metaverse. We truly believe that this is a ‘blue ocean’ opportunity for forward-thinking entrepreneurs, creators and hard workers. With a little effort, the Metaverse will make that dream of financially independent living all the more achievable.

You could also get workers to help you if you are worried about being overwhelmed. Not ready to start a business but still want to be involved? We’ll have loads of opportunites for you to help other businesses succeed, whilst you hone your skills for the day you’re ready to branch out on your own.

Ready to be your own Metaverse boss? Join us here! We can’t wait to see your business thrive in the Metaverse.