Exploring the Metaverse: Transforming Business and Customer Experience

Welcome. The metaverse is an umbrella term for immersive digital experiences and connected 3D environments that are still evolving, blending social life, work, and entertainment with technologies like XR and digital identity.

The Defining and Building the Metaverse initiative frames the topic around interoperability, safety, and practical value.

One of the biggest trends in the world, the Metaverse, has arrived to transform the user's way of communicating and even consuming.

Speaking like that, it seems difficult to imagine that a tool can do all of this, right?

But, the reality is that the Metaverse has arrived to revolutionize, including in the Digital Market and we will prove it to you.

Continue reading this post and discover how new technology can contribute to your strategy in the virtual universe.

At this point, you must be wondering what Metaverse is. If this is a new subject for you, this is the right post!

Metaverse: how it can impact business, digital products, and customer experience

The metaverse is an umbrella term for immersive digital experiences and connected 3D environments, still evolving, that blend social, work, and entertainment with technologies such as XR, digital identities, and avatars. In practice, it can be accessed via VR, AR, computer, or mobile, with the idea of persistence, scale, and interaction. For companies, the key is not just a “virtual world”, but the combination of persistence, identity, and operating services, with attention to interoperability, privacy, and security.

• • Understand the concept of the metaverse, access, and elements such as persistence and interaction.

  • See how avatars and virtual goods can open new possibilities for digital products.

  • Explore how VR and AR can make the purchase journey more immersive.

  • Understand the relationship with NFTs and the cautions around ownership, use, and rights.

  • Learn trends such as virtual assistants, online events, and hyper-realistic avatars.

O que você vai ver no conteúdo de hoje

• Definição de metaverso como experiências digitais imersivas e ambientes 3D conectados.

• Iniciativas e padronização do tema, com foco em interoperabilidade, segurança e terminologia.

• Como funciona a experiência no metaverso com avatar, interação, compras e lazer.

• A ascensão do tema a partir de 28 de outubro de 2021 e o interesse de grandes marcas.

• Oportunidades para negócios com produtos digitais, bens virtuais e exemplos de marcas.

• Imersão na experiência do cliente com realidade virtual e AR Commerce.

• Relação entre metaverso e NFT, incluindo posse do token e variação de direitos de uso.

• Tendências: assistente virtual, desenvolvimento de universos, entretenimento e avatares hiper-realistas.

In the next topic, we will explain more about the new technology and show how the tool can be your great ally.

What is Metaverse?

Remember when The Sims came out? The game was the rage of the moment and the greatest form of user interaction with the digital universe. At that time, it seemed difficult to imagine that virtual reality would go beyond that. But the truth is that this was a small sample of what was to come: the Metaverse

In practice, “metaverse” describes experiences in 3D digital environments that can be accessed via VR, AR, desktop, or mobile, with the idea of persistence, scale, and interaction. Work on standardization is captured in initiatives like IEEE Standards for the Metaverse, which organizes terminology and core building blocks.

The first step in this universe is to create your avatar, you can customize it as you prefer and even buy accessories to complement your look.

Afterwards, justStart your life in the digital universe. For a more immersive experience, the user can interact with friends, carry out daily activities, make a purchase and even enjoy a moment of leisure or go to a show.

For businesses, it helps to separate “3D virtual experiences” from “metaverse”: not every 3D experience becomes a metaverse. What usually pushes it in that direction is the mix of persistence, identity, and the ability to run services inside immersive environments, along with real privacy and security risks.

More like this:

• Marketing automation: 5 tools that will impact your results
• The importance of CRM and marketing automation for all stages of the funnel
• How to have the power of marketing automation at your fingertips

Rise of the Metaverse

On October 28, 2021, the company behind Facebook, Instagram, and WhatsApp adopted the name Meta and publicly reinforced its vision for immersive experiences and virtual worlds. That helped “metaverse” gain traction in many companies’ innovation narratives.

After all, if one of the biggest platforms was investing even more in virtual reality, it clearly deserved attention. As a consequence, big brands began to invest more and more in virtual reality, launching their avatars or even services within this universe.

Between Nov 2021 and Feb 2022, Flex Interativa reported a 750% increase in demand for its immersive-experience solutions. This should be read as a peak in demand for one provider at that time, not as a measurement of the entire metaverse market.

Metaverse: a new world of opportunities for business!

Ok, now that you understand what the Metaverse is and discovered that there are many companies adhering to technological advancements, you may be wondering what the advantages of the tool are for you. After all, how does the Metaverse apply to your company?

The growth of digital products!

To answer your question, you don't even have to go far. Remember when we talked about avatar customization? Okay, the advantages of the Metaverse start there.

With the simulation of clothes, shoes, accessories and various items from our daily lives, Metaverse opens up a range of possibilities for companies to expand their business and sell products online.

A concrete example is the Meta Avatars Store, launched with digital outfits for avatars from brands like Balenciaga and Prada. For businesses, it shows how “virtual goods” can become a mix of revenue, branding, and product experimentation.

Now you might be thinking: "Is there a large audience that consumes these products online?"And the answer is yes! OUsers are increasingly willing to invest in digital items to have a personalized experience and the numbers prove this!

In the Nov 22 to Nov 28, 2021 window, The Sandbox recorded over $86M in weekly NFT land trading volume. In the same ecosystem, premium digital items also reached high prices, such as the Metaflower Super Mega Yacht sold for about $650K.

Immersion in the customer experience!

In addition to expanding business opportunities in the virtual market and building a new horizon of digital products, Metaverse improves the customer experience in the purchasing process.

With the use of virtual reality, companies have the opportunity to make the consumer journey even more immersive and involve them with their brand. So that you can understand better, let's use the example of Fiat. The company launched an AR Commerce tool, where the user can view the brand's new car in full size and have the feeling of seeing it in their garage.

And speaking of big brands, Gucci also invested in virtual reality fitting rooms so that its customers can see the pieces before buying them. Can you now see how this technology contributes to the experience of the customer?

By having a sample of your product, Even if virtually, the consumer has a more interactive experience and connects with your brand, as a consequence, This process facilitates and speeds up your purchasing journey.

Image: Virtual reality is one of the foundations of the Metaverse, enabling immersive and interactive user experiences.

What is the relationship between the Metaverse and NFT?

An NFT (non-fungible token) is a unique blockchain token that can represent a digital item and support ownership tracking and transactions. In practice, it often points to metadata and does not automatically grant copyright or guarantee the “originality” of the underlying content.

Within the Metaverse, the NFT It adds value to your digital items and is used as a form of negotiation. If you have an item with this seal, you can sell it and make a lot of profit.

Before buying or selling, one practical caution: an NFT can prove ownership of the token, but what you actually get in terms of usage rights, licensing, and IP around the artwork varies. In brand and commerce contexts, the term “NFT” often needs clear specification of what it represents.

Do you know what until we mentioned it throughout this post? It is one of the most expensive NFTs in the worldMetaverse, but whoever bought it is guaranteed an exclusive and original item. On the entire Internet, there is no other like it.

At this point, you can already see that the Metaverse is a promising market with a vast field of negotiation, whether you want to sell or buy.

What are the trends in the Metaverse?

And of course we couldn't talk about Metaverse without mentioning the future trends which promise to move and speed up this process even further. Next, We have separated four trends that you need to know about.

Virtual Assistant

When the subject is the future of Metaverso, this promises to be a strong trend. On the rise, virtual assistants with artificial intelligence can be used by companies from different segments to facilitate the user journey.

Within the digital universe, the customer can interact with the virtual assistant, ask questions or even make a purchase. To make this process even more immersive, virtual assistants will be even more customizable, realistic and with natural language processing.

Development of universes

There is no doubt that the creation of virtual worlds is a strong trend! This year, We have already had several companies investing in the creation of avatars and digital worlds, but this is just the tip of the iceberg.

The reality is that the future of this digital world is promising and the expectations are that more and more companies will invest in creating their universe, offering personalized services and interacting with users within it.

Entertainment in the Metaverse

Another big trend in the Metaverse is online events. With practicality, flexibility and convenience, the new tool allows users to attend events, presentations and even shows, without even leaving home.

In fact, this strong trend is already a reality among us. This year, we had shows broadcast on Metaverse with big names in international and national music, such as, for example, by singer Emicida who was invited by Epic Games.

Hyper-realistic avatars

One of the key pieces for the Metaverse, avatars, are increasingly personalized and interactive. But, to make the experience even more immersive, the trend for the coming years is for avatars to be increasingly hyper-realistic.

With the use of Artificial Intelligence, the objective is to create more humanized avatars, with characteristics and movements closer to real life, as well, maximizing the user experience in this digital universe.

At this point, You can already tell that the Metaverse is here to stay, right? And with so many new developments, it’s time to pay attention to using these trends to your advantage.

And speaking of the virtual universe, do you know how to stand out in this competitive market?

Find out in our last post the importance of innovation in the competitive digital market and what trends for the coming years.

Frequently asked questions about the Metaverse

What is the metaverse?

The metaverse describes experiences in 3D digital environments accessed via VR, AR, computer, or mobile, with the idea of persistence, scale, and interaction.

What happens first when entering the metaverse?

The first step is creating an avatar, customizing it, and even buying accessories to complement its look.

Is every 3D experience a metaverse?

No, not every 3D experience becomes a metaverse, and what often characterizes this path is the combination of persistence, identity, and the ability to create or operate services in immersive environments.

What drove the rise of the term metaverse in 2021?

On October 28, 2021, the company behind Facebook, Instagram, and WhatsApp adopted the name Meta and publicly reinforced its vision to invest in immersive experiences and virtual worlds, increasing the topic’s traction.

How can the metaverse open opportunities for businesses?

The metaverse can expand online sales through simulations of clothing, footwear, accessories, and everyday items, and it can add virtual goods to the revenue, branding, and product experimentation portfolio.

How can the metaverse improve customer experience?

The use of virtual reality and AR can make the journey more immersive, such as tools that let users view a product at real size and virtual reality fitting rooms to see items before buying.

What is an NFT and how does it relate to the metaverse?

An NFT is a unique token recorded on blockchain that can represent a digital item and facilitate proof of ownership and transactions, and in the metaverse it can be used to trade digital items.

Does an NFT guarantee copyright or originality of content?

No, an NFT typically points to metadata and does not, by itself, guarantee copyright or the “originality” of the content.

Which metaverse trends appear most strongly?

The cited trends include virtual assistants with artificial intelligence, development of universes, online events and concerts, and increasingly hyper-realistic avatars using artificial intelligence.