Prepare To Enter The Metaverse

You may have heard it said that the metaverse is the new frontier. While it may seem overhyped, there are some compelling arguments that suggest it’s worth paying closer attention to. 

Steve Weber of our sister firm Breakwater Strategy shares his perspective on how companies should be thinking about the metaverse:

  • It’s the next obvious chapter of post-covid life. No one thought the world could run on Zoom–until it did. 
  • It’s a climate-friendly opportunity to boost economic growth and counteract inflationary pressures.
  • It presents the opportunity to build better business models that don’t rely on personalized data and can better protect people’s privacy. If we get it right.
  • The metaverse is a tool for organizations to get real about DEI in a space where identities can be truly fluid and experimental.

The metaverse is poised for profound hype—and profound innovation. The metaverse envisions a digital space that is interactive and decentralized, expanding the autonomy of the user base. It could enable users to control their data and identity while enabling digital marketplaces to work without intermediaries. 

It’s important not to underestimate the depth and strength of people’s fascination with the metaverse. There are deeper motivations behind these aspirations that will find their way to some other channel, even if the metaverse doesn’t come to fruition. 

Exploring what opportunities exist within the metaverse will offer insight into these motivations and open up entirely new ways to connect with users.  

As large brands like Adidas, Visa, JPMorgan and now Microsoft start to test the waters of the metaverse, it’s time to start considering what this environment could mean for you.