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In times of economic uncertainty, you can find unique business ideas emerging from the metaverse, often driving industry innovation and opening up new opportunities for companies and individuals alike. What the metaverse continues to expand, here are five trends that will shape the next 10 years:
1. Creation of virtual content
3D modeling has been used for many decades in almost all industries such as gaming, engineering, and architecture. All products, buildings, characters and environments have been created using 3D modeling tools on a computer. This industry is only anticipated to increase in value, reaching $6.33 billion in 2028. This number does not include the metaverse space, which is expected to be reach $783.3 billion by 2024.
As consumers migrate to the 3D space, the need for virtual goods has only increased. For example, the most popular Roblox metaverse has over 40 million games in which all items, characters, and environments are uniquely created by its users. Those who are the best creators can earn a lot of money. Just look at Samuel Jordan, who supposedly makes amends $80,000 each month to sell your digital products on Roblox.
2. Metaversal education
Covid-19 has changed most of the world to remote work and distance learning. Some of the quickest to adapt to this change included schoolchildren. The idea of learning digitally has really caught on with the younger generation to the point where one of the most popular metaverses, Minecraft, has an educational platform for distance learning.
However, this is only the beginning of the global trend of online education. The size of the online education market is expected to increase reach $198.9 billion by 2030, according to Straits Research. Entrepreneurs should expect new virtual study platforms to appear, as well as courses covering topics such as metamarketing, avatar design, and virtual law. This will open up many career options for the younger generation using the metaverse.
3. Virtual social and musical events
Did you know that 4 million people attended Rod Stewart’s free concert on Copacabana beach in Rio in 1994? It remained the most attended live show until Travis Scott performed at Fortnight Metaverse in 2020, as more than 12 million players logged in for his virtual concert.
Once other artists heard about this, they started planning their own virtual concerts. Artists like Post Malone, Ariana Grande, and Justin Bieber gave virtual concerts using the metaverse as a platform. This trend creates many opportunities for musicians and other platform event planners who want to capitalize on the popularity of virtual events.
However, it’s important to start exploring these opportunities now, as global entertainment company Live Nation has already partnered with Snap this year to enhance the virtual concert and social experience using AR technology.
4. Avatar-based dating
While millennials were getting married virtually during the Covid-19 lockdown, Gen Z have been using “staying at home” as an opportunity to date in the metaverse. Games today can provide more than entertainment; They can even introduce you to potential partners.
Avatar-based dating is becoming more and more popular, and many new companies specializing in this service are springing up, such as Never met. This fast-growing avatar-based service allows users to match up with other VR fans and then meet up anywhere in the metaverse. As this trend continues to grow, there will be more and more opportunities for entrepreneurs to enter this space.
When it comes to influencers, the metaverse has become a priority. marketing platform and advertising of products and services. This is mainly due to its interactive platform, which allows users to interact with each other in real time.
This trend is known as “metfluencing,” which refers to when an influencer leverages their popularity in the metaverse to influence other users. For example, Albert Spencer Aretz, also known as Flamingo, is an American Roblox gamer whose “let’s play” videos are gaining millions of views. The estimated net worth of him is more than $20 million, according to various sources. Due to its popularity, brands now pay you to promote their products on your channel. If you’ve ever considered becoming an influencer, the metaverse is definitely a great place to start.
The metaverse is a constantly evolving ecosystem that is becoming increasingly popular and accessible. As more people turn to this virtual reality, entrepreneurs must look for ways to take advantage of the opportunities available in the metaverse. From establishing an online education platform to promoting products through metfluencing, there are many avenues to explore. With the right strategy, you can use the metaverse to create your own successful business.