Written by

Bernard Marr

Bernard Marr is a world-renowned futurist, influencer and thought leader in the fields of business and technology, with a passion for using technology for the good of humanity. He is a best-selling author of 20 books, writes a regular column for Forbes and advises and coaches many of the world’s best-known organisations. He has over 2 million social media followers, 1 million newsletter subscribers and was ranked by LinkedIn as one of the top 5 business influencers in the world and the No 1 influencer in the UK.

Bernard’s latest book is ‘Business Trends in Practice: The 25+ Trends That Are Redefining Organisations’

View Latest Book

Follow Me

Bernard Marr ist ein weltbekannter Futurist, Influencer und Vordenker in den Bereichen Wirtschaft und Technologie mit einer Leidenschaft für den Einsatz von Technologie zum Wohle der Menschheit. Er ist Bestsellerautor von 20 Büchern, schreibt eine regelmäßige Kolumne für Forbes und berät und coacht viele der weltweit bekanntesten Organisationen. Er hat über 2 Millionen Social-Media-Follower, 1 Million Newsletter-Abonnenten und wurde von LinkedIn als einer der Top-5-Business-Influencer der Welt und von Xing als Top Mind 2021 ausgezeichnet.

Bernards neueste Bücher sind ‘Künstliche Intelligenz im Unternehmen: Innovative Anwendungen in 50 Erfolgreichen Unternehmen’

View Latest Book

Follow Me

What Is The Business Impact Of The Metaverse?

24 October 2022

Wondering how the metaverse will impact business value in the future?

I recently spoke with Emma Ridderstad, CEO of Warpin Media, an immersive technology solutions company focused on bringing the Enterprise Metaverse to forward-thinking organizations.

What Is The Business Impact Of The Metaverse? | Bernard Marr

When I asked Emma what the metaverse means to her, she said she imagines the metaverse as everything we do online today — through our smartphones and our computers — but being able to do it all in immersive 3D, via virtual and augmented reality.

In the metaverse, we’ll be able to seamlessly move between worlds so we can work better, play better, and communicate more freely. Emma says, “This technology enables us to engage with more senses at the same time, so it’s a much richer experience.”

What Is the Future Business Value of the Metaverse?

Warpin Media works with innovative companies that already recognize the potential power of the metaverse, and we discussed some unique use cases that companies are already launching.

For example, businesses are already using augmented reality and virtual reality to provide experiences for consumers and engage them in ways they have never done before. When a new Star Wars movie premiered in Japan, clothing retailer H&M set up a designer booth in their Tokyo store. Shoppers could put on Magic Leap augmented reality glasses to turn plain black t-shirts into customized apparel that they could actually take home with them.

Other companies are finding ways to use AR and VR to enable customers to try on or try out their merchandise. Luxury car company Ferrari, for example, showcases their models in augmented reality, so car shoppers can “walk” around the cars and even delve into the cars’ engines and braking systems.

Many retailers are also figuring out how to offer 3D virtual versions of their products. More and more consumers will be interested in purchasing NFT garments that mirror physical clothing and accessories.

Businesses can also add value by incorporating storytelling into their immersive experiences for customers. One whiskey company collaborated with a hotel to create a new cocktail, then created an immersive experience that transports the consumer to Scotland to fly over the Highlands, lets them get an inside look into how whiskey is made, and gives them a virtual tour of a distillery. After the virtual tour, you take your virtual reality glasses off, and your whiskey cocktail is sitting in front of you. These kinds of immersive brand storytelling experiences are a great way for companies to connect with customers in innovative ways.

Emma adds, “From the consumer's point of view, you will have so much more information about the brand and the product that you're buying — because this is the first time you're not constricted to a 2D printed ad or commercial. You can really work with the product…like interacting with a normal ad, but making that come alive in 3D.”

What Forward-Thinking Companies Should Do to Prepare

When I asked what advice Emma has for companies who want to get started with metaverse technology, Emma said:

“Every company should start thinking about using virtual reality for their own in-store or staff training. Companies can experience the metaverse through virtual and augmented reality and use it to practice things that you already need to practice within the company — and you reap all the benefits from saving costs and higher retention.”

She also recommends having a policy of thinking big, starting small, and testing often.

“Have the end goal of what you can imagine with this technology, but start with a very small project and see how it goes,” Emma adds. “You're emerging yourself in a whole new way, but then take a look at how the technology can solve the problem that a company has.”

Companies should also bring in diverse voices to contribute to projects. When entering the metaverse space, companies don’t just need tech experts — they need people who understand human behaviors, so we can create safe and secure metaverse spaces that people want to be in.

A Larger Vision for the Metaverse

In her work with Warpin, Emma has a larger vision for the metaverse.

“My hope is that we can use this technology to enhance the human experience…to build bridges between humans. I want us to work with empathy and creativity and use the metaverse to bring people together.”

Business Trends In Practice | Bernard Marr
Business Trends In Practice | Bernard Marr

Related Articles

Policing In The Metaverse: What’s Happening Now

Policing agencies worldwide are now launching innovative metaverse initiatives that will help protect communities and guarantee the rule of law.[...]

Banking In The Metaverse – The Next Frontier For Financial Services

Banks have long known that if they can capture the attention of customers when they are young, they are likely to get hold of them for life.[...]

Is This The Downfall Of Meta And Social Media As We Know It?

Meta Platforms – the company formerly known as Facebook – is cutting its workforce by 13% – equating to a loss of 11,000 jobs.[...]

Metaverse – The Reality Beyond The Fantasy

In fact, everyone seems to have a different idea about what it is and what it will mean for our lives.[...]

Cheetos Launches A Brand New Metaverse Experience

One of the world’s most beloved brands has launched a new immersive metaverse experience, and fans all over the world are hungry to interact with one of their favorite snack icons[...]

The Top 5 Metaverse Trends In 2023

Following Facebook’s rebranding at the end of 2021, just about everyone was keen to let us know about their vision for digital worlds where we can work[...]

Stay up-to-date

  • Get updates straight to your inbox
  • Join my 1 million newsletter subscribers
  • Never miss any new content

Social Media

0
Followers
0
Followers
0
Followers
0
Subscribers
0
Followers
0
Subscribers
0
Yearly Views
0
Readers

Podcasts

View Podcasts