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3 Ways Nigerian Brands Will Benefit From The Metaverse

Emmanuel Nnaemeka

Encryptobulls

  Metaverse is the new buzzword. When we thought we had seen the best of the digital age, Mark Zuckerberg (MZ), co-founder of Facebook, did a video proclaiming the advent of the metaverse, and the possibilities and features it held. It was awesome seeing MZ navigate the virtual reality or alternate universe with its 3D effect, using a watch. It was a huge leap for mankind in innovation.
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To get on, it is fundamental to define metaverse, so that we can appreciate its full concept. According to Wikipedia, the metaverse is a hypothesized iteration of the Internet, supporting never-ending online 3-D virtual environments, through basic personal computing, as well as virtual and augmented reality headsets. For USA Today, it’s a collection of multiple components of technology, comprising virtual reality, augmented reality and video where users “live” within a digital universe. It will be surprising to many that metaverse is not new, and a gaming company called Second Life had incorporated metaverse into its gaming operation since 2003. However, the term, “metaverse” had been invented by the author, Neal Stephenson, in his 1992 science fiction novel “Snow Crash,” in which he envisioned lifelike avatars who met in realistic 3D buildings and other virtual reality environments. Experts and industry leaders have opined that metaverse will transform the way we live our lives. From our concept of business to healthcare, down to family and entertainment, our lives can be lived in an alternative universe (AU) or virtual reality (VR), through the use of a computerised gadget made for the purpose. To put this simple, with metaverse, I can walk on the streets of New York City in my avatar state in virtual reality, with the aid of computerised ocular headsets or my PC. Companies like Nike and IBM built their virtual showrooms called Nikeland and IBM Land respectively. Still, in its nascent state, the earlier launching of a metaverse gaming company by Second Life failed to reach its expectations, because it had arrived before its time in 2003, when social media itself was still new and widely unexplored. However, one month ago, MZ popularised metaverse, when his company, Facebook, was changed to Meta. According to him, the upgrade was to increase more connections among humans. Big techs like Microsoft and Google are building their version of metaverses. Most Influential corporations across the world that influence our livelihood are building their versions too. So, how is this important for members of the Third World, like Nigeria? According to Bill Gates, co-founder of Microsoft, the Microsoft software will include metaverse in its Team, which will affect the future of work and increase flexibility in the workspace in the next two to three years. The best time to join the metaverse train is right now. In this article, I am going to show how the metaverse will benefit Nigerian big and small businesses, startups, and affect the nature of work in Nigeria.
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  1. Personalised Advertising

With a promise to make metaverse affordable by Facebook, businesses in Nigeria will be able to engage in more personalised and sensory advertising. With the availability of Presence Platform, companies and customers can share a deeper level of communication through first-hand and in-person experience in the virtual world. For example, as a customer, you can visit your favourite restaurant from the comfort of your home and know their latest menu, and share in a first-hand and on-presence experience of customer service. You can, through metaverse, go on a window-shopping in heart of town from the comfort of your bedroom. All you need to do is to have the enabling eyewear. This can be a breakthrough ineffective customer service for business owners. According to Bernadett Koles of Iéseg School of Management, who studied Second Life, he stated that “In general, marketing control is moving away from the brand and towards customers, and in online spaces that’s even more important.”

  1. Improve Business Branding

Metaverse will affect the concept of corporate branding. Branding encompasses multiple touchpoints. These touchpoints include; logo, customer service, treatment and training of employees, packaging, advertising, stationery, and quality of products and services. Branding is the way the general public perceives a company. Any means by which the general public comes into contact with a specific brand constitutes a touchpoint that can affect perceptions of the corporate brand. Therefore, virtual reality allows customers to have a first-hand experience, as close as they get to being in a company and experiencing it in person. Further, given the metaverse’s limitless real estate, companies are bound to look to fill its three dimensions with their logos and products, creating a deeper perception in the minds of the public.

  1. Inclusive Remote Working

Both Bill Gates and MZ have claimed that the metaverse will change the nature and future of work. Although, the COVID-19 pandemic have revolutionised work through Zoom meetings. However, with metaverse, people can be in the office space, both virtual and physical, in their avatar state, through computerised gadgets of Oculus headsets and watches. This will boost experience, as virtual cooperation and collaboration will be inclusive, permitting a more eclectic range of people to partake. Microsoft’s more simple step towards a workplace metaverse, adding avatars to its Teams collaboration tool, hopes to build on what workers have already grown used to. Featured Image Source: Encryptobulls
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