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How Metaverse Development Strategy Works?

# #metaverse development, #metaverse services

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Jay Anthony

16 September 20228 min read

How Metaverse Development Strategy Works?

Top 4 Metaverse Development Strategies That Are Sure To Work In Your Favour

“Metaverse” – a word we all see very often in our scrolls and browsing now a days. Metaverse technology is picking up pace like no other tech invention in the past. Ever since Mark Zuckerberg changed his company’s name “Facebook” to “Meta” during the pandemic, people from all around the world are magnetically attracted toward this all new technology explosion. Fortnite can be considered as the most popular Metaverse company with millions of active users already. However, if we dig deeper into the past, we will come to realise that the term Metaverse was first coined by an American Author Neil Stephenson in his sci-fi novel “Snow Crash” which was published in 1992. The only difference between then and now is the exposure the world has got and how connected the world is now, which is what makes this technology so popular. 

The world is more digitally knit today as compared to two or three decades earlier, which makes such a technological breakthrough a global sensation. Metaverse development is envisioned to be a trillion dollar industry. Tech giants and top investors from around the world are pumping in millions of dollars to make this technology accessible and available for the masses. Brands like Adidas, Nike, Samsung, Hyundai, Coca-Cola, Sentosa, Gucci, Balenciaga, Dolce Gabbana, Ferrari, Tommy Hilfiger, Vans, Forever 21 etc. have already made their debut on the Metaverse platform with an effective Metaverse strategy, attracting millions of people from different geographical regions to come and experience their offerings. Fashion shows, concerts, conferences etc. have been successfully held in the Metaverse and people are very fascinated with the entire concept of the Metaverse. 

Before diving into the Metaverse development strategies, lets first understand the concept of Metaverse.In simple words - Metaverse is a platform that allows its users to experience a completely immersive world virtually. This means that it offers it’s users the liberty to work, study, shop, socialize, attend conferences, enjoy leisure time etc. all in a virtual set up without the user having to actually travel. A unique proposition the Metaverse offers is that here, people not necessarily need to interact with each other, in fact they can choose to just exist and live a virtual life parallel to their real world life. Meta is a Greek word for beyond or after, and Verse means universe, together it means beyond the universe. Just like the real world where people own property, land, vehicles, clothes, artifacts, paintings etc., in the Metaverse people can own digital assets in the form of Non Fungible Tokens (NFTs)

The NFT marketplace is a billion dollar industry with trades worth millions happening month on month. Paks “The Merge” is the most expensive NFT,with 30,000 collectors who pitched for it together for a total cost of 91.8 million dollars.

Metaverse case scenario – Imagine if you could attend a work conference in England at 11am, and on the same day attend another important workshop in Australia at 5pm without having to stamp your passport or book any flight tickets. Yes, Metaverse makes this possible! It allows you to sit at the comfort of your couch and be a part of bigger agendas anywhere in the world - saving time, effort and money. Hence, more and more people are awaiting the commercial and worldwide launch of this incredible technology.

Top 4 Metaverse Development Strategies For You

1. Identify your target audience and understand what they expect

It is very important to first identify your target audience by creating relevant personas. You must know your target audience very well in order to cater to them in the most effective manner. Understand the expectations, pain points, psych etc. the user has from your brand and incorporate the same in an enhanced manner in your Metaverse app development strategy. However, it is advised to filter out the data as the expectations your audience can have from your brand can be very different from what they expect from your Metaverse presence. So identify the areas of improvement and act accordingly.

2. Keep the User Experience (UX) as simple as possible

As we all know that the Metaverse is a very new concept for most people, and giving them the right handholding in the initial stages is very important for any business to thrive in the long run. The more they can relate to your user experience the more comfort it will give them to explore further. Remember that the switch from Web 2.0 to Web 3.0 needs to be smooth and uninterrupted for your audience. It has to be seamless and easy. Experts recommend adding bot assistants in your Metaverse journey to ensure that the audience has a 24*7 assistance for any help or query, and that they don’t feel lost.

3. Collaborate with current Metaverse platforms

It is important to understand that there will be no single Metaverse platform, there will be many. Given this condition, experts advice brands to collaborate with existing popular Metaverse platforms for greater exposure and audience reach. It will be very difficult for brands to attract audience to their independent Metaverse environment as compared to existing engaging environments that already exist. Metaverse applications like Sandbox, Roblox, Fortnite and Decentraland already have a large audience pool and have unique techniques to keep their audience hooked on to their environment. Brands can opt to buy digital land on these platforms and build customized stores on them and gain visibility for a larger pool of audience, without having to worry much about marketing propagandas.

4. Keep it as immersive as possible

Since the core essence of Metaverse is to give its audience an immersive 3D experience, it is imperative for brands to ensure that they breakthrough from the current 2D engagements and interactions and innovate a creative and unimaginable immersive virtual environment, and not disappoint their audience. An immersive platform will indeed have more scope of popularity among people.

Do follow these metaverse development strategies to make your brand trending and popular in the Metaverse in the long run, for your audience.

 

 

 

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Therefore, add some mint into the users’ cup of tea and provide an accessible zest to your digital assets by making it more compliant.

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WRITTEN BY

Jay Anthony

Marketing Head | TECHVED Consulting India Pvt. Ltd.

He led efforts to develop a fully integrated marketing communications plan and growing team. He is responsible for successful corporate re-brand and update of all branded assets.

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