9 Ways Businesses Can Benefit From the Metaverse

The Metaverse is a virtual world in which people can communicate, collaborate, and interact in an immersive experience through the use of 3D avatars and customizable environments. This virtual world is a limitless and persistent space, where users can communicate with life-like avatar gestures, work remotely while remaining engaged, and utilize gamification features to discover and play. As the leading and most advanced WebXR 3D events platform, MootUp is feature-packed and offers key benefits to businesses of all shapes and sizes.

Productivity and performance are at the heart of every thriving business, which includes evolving with the digital progression of the modern age. With the digital landscape evolving more and more each day, businesses are turning to the Metaverse as a solution for engaging remote workers, improving productivity through shared real-time collaboration and experiences and creating memorable events for their organization. The Metaverse offers endless possibilities for businesses to transcend the boundaries of daily communication, through immersive environments in which people can interact in a similar fashion as they would in the everyday real world.

Both small and large organizations are adopting the Metaverse to improve various aspects of their business with exciting technology, from engaging remote teams to putting on unique hybrid or virtual events for things like product launches, staff onboarding, or conferences. Some key ways that businesses can benefit from interacting in the Metaverse are the following:

Increased Brand Awareness and Market Reach

Although the extent of the regulations that will govern the metaverse and to what degree users can move through virtual spaces freely are yet to be determined, the innovation of this virtual space is poised to benefit organizations that are looking to increase brand awareness and market reach. The Metaverse can also be used for a wide range of virtual and hybrid events, such as product launches, conferences, happy hours, and more. The possibilities are endless for reaching new markets and increasing brand awareness through customizable platforms like MootUp, with limitless options for branding and marketing and cutting-edge technologies.

Data Collection

Because MootUp’s metaverse solution is web-based, it offers businesses a new level of data collection. The Metaverse is constantly evolving, and with it, data collection restrictions and privacy policies will continue to adapt in tandem. That said, organizations can collect important data and insights, from employee engagement to audience information from virtual events. The Metaverse also offers new ways to collect data for stakeholders, such as virtual questionnaires, interactive gesture features, drop-off rates, items clicked, videos watched and for how long and more. This data can offer actionable information to improve future events and processes and strategies for all business and industry types.

Higher ROI

Businesses integrate a wide range of tools into their operations for various reasons, but it’s no secret that these tools can be a huge investment that stakeholders expect a reasonable return on. Calculating ROI on things like events or immersive worlds can be challenging, but Metaverse platforms provide a larger dataset and higher return on the investment made opposed to other tools thanks to its interoperability and how it provides a memorable experience and inspires increased productivity. Platforms like MootUp integrate seamlessly with all the tools businesses know and have invested in, saving organizations from further investments and training thus providing an environment for employees to thrive in.

Enhanced Accessibility

The Metaverse offers accessibility at any time, from anywhere in the world. The Metaverse is not bound by any physical restraints, it only requires an internet connection and a compatible device. Hosting employees in a virtual world allows for increased inclusivity through customizable 3D avatars and access from anywhere, with no physical limitations such as health or resources. Providing an option for organizations and their employees to log in virtually and be present from wherever they are is important for accessibility and engagement. The Metaverse is constantly evolving and by having participants provide diversified perspectives from their customized avatars, businesses can reap the benefits of feeling seen, included, heard and expressed for years to come.

Improved Engagement

Metaverse events offer an interactive and immersive environment that can benefit businesses in their meetings and communication efforts with employees and teams. Through the development of individual digital identities and customizable environments, every person in the business can feel engaged and included. Platforms like MootUp are constantly improving the interactive features, and currently have exciting capabilities such as dancing, shaking hands, giving high-fives, hugging, waving, laughing, or smiling.

Greater Flexibility

Gone are the physical limitations of the traditional workplace!

Businesses have greater flexibility when operating in the metaverse. When working in the metaverse or mixed reality, businesses are able to gain a competitive advantage over other businesses not evolving at the pace of today’s digital marketplace. Organizations of all shapes and sizes can leverage the Metaverse into their business model by transcending the boundaries of human connection for employees and expanding awareness and reach through virtual and hybrid events.

Improved Remote Work Capabilities

The metaverse offers greater opportunities for a remote work environment. Managers and coworkers that are too far from one another in different parts of the country or the world can collaborate effectively in many ways through the metaverse. With lifelike engagement features and a full suite of communication tools, organizations can improve upon their current communication practices in ways they never imagined. Additionally, platforms like MootUp with immersive technologies offer true interoperability for the tools that businesses already use in their day-to-day operations, creating a persistent and seamless world for remote teams.

Lower Costs

The metaverse can help businesses reduce their costs by reducing the requirement for many physical assets that are necessary for in-person spaces. The Metaverse is virtually limitless in customization abilities, meaning your enterprise Metaverse can include any space you imagine, without the additional costs. Employees can have virtual offices and shared spaces, cutting down on all costs associated with a physical headquarters for example.

Reduce Environmental Emissions and Impact

Because the Metaverse is entirely online and virtual, it significantly reduces the impact that businesses and users make on the environment. With climate change and greener solutions becoming a vital part of business strategies, the Metaverse is a perfect solution for reducing impact while still boosting employee productivity. Offering a virtual world for employees to participate in, means less travel emissions and reduced overall carbon footprint.

MootUp is the leading 3D virtual and hybrid event platform, and is the only WebXR platform built with open standards. Businesses can reap all the above benefits and more with our completely web-based Metaverse events platform, that requires no downloads, and works on any device from phones, tablets, computers, including AR and VR.

We offer an all-in-one 3D immersive platform to host engaging and productive virtual and hybrid events for your business. To learn about how we can help your business produce a successful virtual event using the metaverse, give our team a call today at 347.535.0844, send us an email at [email protected], or book a demo.