Metaverse Part 2 – The Business Implications

AGN Global Business Voice: International Business Issues.

What are the practical implications of the metaverse for business owners? In part one, we looked at the metaverse concept as famously espoused by Mark Zuckerberg in 2021. The metaverse appears to hinge on integrating a range of existing technologies, such as virtual reality and blockchain. Still, it also requires the development of ‘web 3.0’ (web three-point-zero) – technology that could be five to 10 years away.

While some metaverse technologies are in their infancy, the GBV explores how businesses are future-proofing. Companies are becoming familiar with augmented reality, virtual reality, crypto-currency, and enhanced security technologies, so moving into the metaverse is the next step rather than a major change.

Business needs to be prepared with a strategy, experimentation or at least a direction of travel that anticipates where the major changes will occur.

In our latest GBV (part two of a two-part series), we explore what things to monitor and what actions can be taken as the metaverse develops.