The Blockchain and the Metaverse complement each other. The Metaverse describes a digital life parallel to real life. This may still be an undiscovered issue for many, since it is an emerging technology, even so many companies are betting on this new virtual and physical reality. The Blockchain is part of this universe, thanks to this it is guaranteed that value exchanges are safe and can be traced. IBM says that “Blockchain technology produces a data structure with inherent security qualities. It is based on principles of cryptography, decentralization, and consensus, which guarantee trust in transactions” (More information here).
As it is, the Blockchain is the part of this technology that allows transactions in the Metaverse, through NFTs or currencies. Without being a currency, the Blockchain technology is the same as that used by cryptocurrencies. While the Metaverse is that world based on virtual reality, which thanks to vision is becoming a stake investors are willing to take in the upcoming years. This transition is a great opportunity for companies that decide to take advantage of this phenomenon in terms of developing new guidelines for a more modern and innovative business model.
Hence, in this virtual universe there is a kind of economy of its own, actions that simulate work and a market, the currency supported by Blockchain technology, therefore also digital assets, avatars, and many monetization opportunities. The latter is what makes it possible for giant companies to plan the migration of some of their actions to the Metaverse, transforming them into virtuality. For example, Bloomberg Intelligence projects that by 2024 the size of the Metaverse market will reach $800 billion dollars.
Considering these changes, which may seem a bit drastic, marketing and the way of doing business as we know it today will be forced to reinvent itself and thus create solutions for this “new world”. Therefore, in virtual advertising, the analysis of data and the capture of these through artificial intelligence and analysis systems will be essential towards designing strategies that haven’t been thought of up until now, since the entire operation of this world is something completely new, so to create a tailored strategy, it must be hands on and with a good foundation of know-how.
Digital transformation is here to stay!
Over time it will not matter where you are in the world, there will be such a hyper connection that you will be able to visit remote places, attend your classes, buy whatever you want, do recreational activities and sports, and everything you would do physically, without moving from the comfort of your home. Undoubtedly, the changes generate a lot of expectations, and companies will have to collaborate to solve the wide variety of doubts and problems that will arise when entering the unknown. This support is important and will boost the new economy, generating impact.
Finally, according to the strategies of companies and in life in general there will be substantial changes. In the corporate and industrial sphere and in the way we communicate, but first we must welcome change and see that it can be a solution to something that we still don’t know about, but probably we may need, from now on. Well, the opportunity is there, you just have to take it.