Is the Metaverse the future of business and work? 

Innovation and digitalization are becoming a central component of any business strategy. In today's world, where technology evolves rapidly, business leaders must be aware of all the trends that are emerging constantly.

Since technology is shaping not only consumer trends, but also, how we interact with each other, it becomes mandatory for any business that wants to survive and grow in this era, to be constantly innovating their products and services. Slowly businesses have been approaching different technologies and including them in their structures. Not in vain the number of companies that are using blockchain, NFTs, IoT, and cloud technologies, is growing at the speed of light. But in a world that’s constantly changing and evolving, many people and businesses are still hesitant about a popular topic: the metaverse. 

What exactly is the Metaverse? 

Although the metaverse has become very popular recently after Mark Zuckerberg announced that “Facebook” would rebrand to Meta to focus its future and efforts on developing the metaverse, it was actually in 1992 when the term was coined by Neal Stephenson, when he used the term to describe the world of the future, one based on virtual reality. But in this digital environment, we could imagine that what the metaverse was in 1992 has nothing to do with what we know today about the metaverse. And yet, what do we exactly know about the metaverse? 

Since nobody has experienced fully the metaverse, what people understand by it varies wildly. But, overall, we can agree that the metaverse is a shared and persistent virtual realm that exists in real-time and is created by the merging of virtual reality with digitally augmented physical reality.  It’s a combination of technology features such as virtual reality, augmented reality, and video in which users “live” in a digital universe.

Why are companies joining the Metaverse? 

Despite the positioning that Meta wants to have regarding the metaverse, this technological revolution goes way beyond a single company. Nowadays, multiple tech giants, and small startups, are working speedily to build the infrastructure that allows them to create a better virtual world where they can interact with their current and potential clients. 

This digital ecosystem will recreate daily activities that will support new business opportunities. People who access the metaverse will have the opportunity to shop in virtual retail stores and buy clothing, food, digital avatars, art, and virtual homes, among other goods. Also, as the platform will allow interaction between users, companies can take advantage of it to promote better customer service, employee onboarding, meetings, and social experiences.

The Metaverse will challenge work as we know it

Virtual meetings. Business operations through augmented reality. Digital locations. A more connected work experience

These, among other possibilities, are some of the ways we can predict that the metaverse will change the world as we know it. Imagine having a meeting with people in another country from the comfort of your home or having a virtual electrician solve an issue at home virtually.    

The metaverse will provide us with immersive workspaces that consequently, will let us establish shared spaces where we can meet regardless of where we’re at. It will make a difference in terms of growing the pool of candidates for jobs, improving the customer experience of any client, or developing projects with people all around the world without the interpersonal gaps that come with remote work.

Can the Metaverse change the way we do business? 

There’s no doubt that the metaverse will change the way we work, sell, interact, and buy. During the pandemic, online shopping grew rapidly, and market analysis suggests that both younger and older generations are increasing their online purchases. Now let’s take this experience to the metaverse, this will improve the shopping and trading experience since goods and services become more accessible.

At last, the metaverse will force all of us to adapt to new methods of working, interacting, and living. As humans, we must face multiple challenges to adapt ourselves to the opportunities that the metaverse brings, but we know that we´re able to adjust ourselves to any circumstance.  

More articles

Why hire fractional COO for scale-ups

Scaling up a business is an exciting and challenging time for any entrepreneur. As a company grows, it becomes increasingly complex to manage and requires more specialized skills to keep…

Sign up to our