Metaverse and web3 technologies offer new and exciting ways for companies in a wide range of sectors to improve their products, services and operations. From VR and AR to transforming traditional online meetings, the possibilities are endless.

Read on to learn how your organization can leverage the capabilities of metaverse and web3 to stand out in your industry and delight your customers.

Reinventing products and services

Expanding existing products and services

You can use future Internet technology to augment your existing products and services and make them even more impressive.

Car manufacturers are already enriching their cars with AR and VR technology. In some vehicles, drivers experience improved navigation by seeing arrows placed on their road map. With its Holoride technology, Audi is also working to combine VR with real-world vehicle data to create an immersive gaming experience for passengers.

Companies are also extending their physical products with web3 technology. SPIN, the popular music magazine, is offering its iconic covers and other art assets as collectible NFTs.

Creation of new products and services

in my new book, Internet of the future, I give many examples of how companies are creating new products and services with the future Internet in mind. Can your business follow their lead and create new products and services designed for the metaverse and web3 era?

Fortnite has led the way in creating new metaversal products by tapping into the next generation’s desire to spend real money on products that don’t exist in the physical world. Almost 70% of Fortnite players invest in in-game purchases such as clothing, character dance moves, and accessories.

Beer brand Stella Artois has partnered with a blockchain-based virtual horse racing game Zed Run create 50 digital horses that players can collect, breed, train and race.

The Gold Rush of the Metaverse: Designing Support Tools and Services for the Future Internet

With so many companies looking to create new metaverse and web3 products, there is also a huge opportunity for businesses to provide the infrastructure and tools that enable other businesses to succeed.

The key to success with metaverse and web3 support is to stay on top of the latest developments and offer high-quality, user-friendly products and services that make it easy for businesses to adapt and thrive in the future internet.

For example, NVIDIA — a company that initially powered video game graphics — has evolved its offering and now provides Omniverse cloud services that enable teams to design metaverse applications.

Matterport uses 3D and 360-degree cameras to design digital twins of real-world spaces. Companies can use Matterport’s tools to create accurate virtual models of places like offices, stores, or even entire buildings. This technology enables hotels and real estate companies to provide immersive experiences to their prospects and clients.

Transformation of business operations

Companies can evolve their business operations using metaverse and web3 technologies to simplify processes, reduce costs, increase efficiency and provide a better user experience.

Marketing and selling your products

Many brands are finding new ways to interact with customers using metaverse and web3 technology, and now is the perfect time to experiment with innovative ways to advertise and market your products.

Looking for a place to start? Consider investing in a way that allows customers to virtually try out your product, such as an AR feature that digitally places a 3D view of the product in the customer’s home.

Warby Parker, the eyewear company, has a great virtual try-on app that allows customers to shop online and see how different frames will look on their faces. You could also consider creating immersive virtual showrooms for customers to visit or find ways to use the metaverse as a way for customers to transact.

Improving remote meetings

Companies can improve meetings and collaboration using metaverse technology by creating virtual environments where teams can gather, communicate and work together in real time. In these environments, team members can use avatars to introduce themselves and communicate in immersive coworking environments.

Using VR, your company can enhance existing 2D meeting platforms by creating new ways for employees to explore complex data, collaborate in real-time and work together from anywhere in the world.

Fujitsu has a new “co-creation metaverse” called CX Lab, and with Proto M’s holographic device, you can beam a full-body hologram of yourself to meetings in real time.

Existing meeting platform Zoom has already added a 3D virtual avatar feature that mimics facial expressions and head movements during meetings.

Improvement of HR processes

Your company can also use the latest metaverse technology to improve key HR processes such as recruiting, hiring, onboarding and training.

BBH Singapore recently virtually recreated its real-world office and hosted an outdoor career fair that gave candidates a taste of what it would be like to work for the company.

Meanwhile, Accenture is onboarding 150,000 new hires in the metaverse. New hires don VR headsets on their first day and attend a training session on the Nth Floor, the company’s metaverse environment.

Yes Sum Up

Metaverse and web3 technology offer companies a wide range of opportunities to improve their products, services and operations. Using these innovative technologies, companies can create more engaging, interactive and personalized experiences for their customers, while streamlining their internal processes and reducing costs.

Companies that take advantage of these cutting-edge technologies will be able to stay ahead of the curve, gain a competitive edge, and ultimately succeed in a rapidly evolving business environment.

To stay up to date with the latest and emerging business and technology trends, be sure to subscribe to my newsletterfollow me Twitter, LinkedInand YouTubeand look at my books, Future Skills: 20 Skills and Competencies Everyone Needs to Succeed in the Digital World and The Future Internet: How Metaverse, Web 3.0, and Blockchain Will Transform Business and Society.