The MetaVerse basic economics model extended
MetaVerse users can buy and sell various types of items. Thus, economic traffic is created. We see various business applications that are now widely used by users.
Decentraland is well one the “oldest” environments where this way of trading is now visible within the following types of applications
Trading digital art, recent Sotheby’s has decided to offer art in a digital exhibition. Hereby it is possible to purchase digital art in a secure way. Hereby, the ownership and uniqueness of each work is guaranteed because it can be found in the NFT.
Providing a digital office for businesses. We see more and more companies using this and you can speak of a kind of trend that companies are only complete when this company actually exists in the MetaVerse. Here employees and customers can exchange ideas or attend a trade show.
In the various games and casino environments, you can win MANA. A kind of house currency of decentraland but a currency that you can convert into real money. Play to earn is therefore the latest trend.
The advertising industry is of course also very present in this medium, since the MetaVerse offers an unprecedented way to market products or services. It is possible to give a personal touch to mass communication by targeting the type of customer. Based on behavioral analysis: what does the customer look at? How long does the customer look at the brand? If the customer makes a transaction, it is possible for the first time to do a spatial conversion analysis in the virtual world. Measuring for example the eye pupil reflex on certain products says something about the brand experience of the customer.
But also product placement through sponsored content will be something that will occur more and more. In this way, the manufacturer or advertiser can test whether the brand appeals to a certain type of user. To measure is to know, it is not rocket science.
DJs and nightclubs, The metaverse offers truly unprecedented opportunities to virtually entertain large numbers of people. We, therefore, think that this is the new interactive variant of Netflix where it is fairly easy for an artist to reach large groups. Ultimately, the MetaVerse is the ultimate interactive entertainment experience that you can literally be immersed in.
Virtual vacations and escape from reality, could become very big after all the amount of CO2 you are allowed to emit as a consumer will soon be up for debate. But it is also possible to create a vacation experience for a very small amount of money.