The metaverse is already transforming how people connect with each other and businesses. Find out how companies are using virtual reality to engage customers and employees.
The metaverse is the next evolution of the internet that will fuse our physical and digital lives in new and exciting ways. With a potential US market value of more than $1.8 billion by 2030, it’s an emerging destination for retail, entertainment and work. As such, companies that begin leveraging opportunities today will gain a competitive advantage. Here are some of the ways businesses are creating value with the metaverse.
engaging consumers in the metaverse
First, there are some basic characteristics of the metaverse that you should know. The metaverse is an interoperable network of multiple 3D virtual worlds. It’s powered by Web 3.0, blockchain and computer interfaces, including augmented reality (AR) and virtual reality (VR).
The metaverse still requires significant technological innovations to reach its full potential. However, people are already accessing virtual worlds with computers, smartphones and game consoles. An estimated 400 million people each month are using metaverse platforms and games such as Roblox, Decentraland, Epic Games (Fortnite) and The Sandbox. They’re not just gaming — socializing and shopping are also major drivers of metaverse participation.
Metaverse consumers use cryptocurrencies (encrypted digital currencies) to purchase digital assets, also called non-fungible tokens or NFTs. Digital fashion, art and virtual real estate are often status symbols that can also overlap with physical goods. For example, when Adidas launched its NFT collection, buyers could additionally claim physical products in Adidas stores.
Seamlessness is essential to a high-quality customer experience (CX) in the metaverse. Consumers should be able to interact with the product or service, make a purchase and receive customer support without leaving the virtual world. Similarly, when a consumer buys an NFT in one game or platform they should be able to transfer it into another metaverse world.
building a future-ready workforce with the metaverse
The pandemic revealed an urgent need for more efficient remote work and education solutions. Leading companies like Siemens, BMW, Chevron and Walmart are now using VR for safer and more effective job training. Microsoft and Zoom have created virtual meeting spaces. Businesses are also using virtual platforms to informally connect co-workers through wellness programs, games and spontaneous interactions. Considering that 75 percent of respondents to our recent workforce survey said that work location flexibility is important, it’s safe to say that more companies will implement VR solutions for remote and hybrid workers.
The metaverse will create new jobs and significantly alter traditional roles. The best way to mimic human interactions is, of course, with real people. That’s why many companies are employing real-life workers to connect with consumers in the metaverse instead of using computer generated characters. By 2030, an estimated 23 million jobs will be impacted by VR and AR. Professionals in support services, community management and business development will require upskilling or reskilling for metaverse careers.
Companies will also likely need to hire new technical talent to bring their business to the metaverse. Job candidates for metaverse development projects will have advanced skills in:
- artificial intelligence (AI)
- blockchain and NFT engineering
- VR and AR development
- UI/UX design
- 3D modeling
- advanced programming
As more companies launch virtual products and services, workers with metaverse skills will be in high demand. Find out how Randstad can help you find qualified candidates for technical and service roles in this brave new world.