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  The metaverse is the new technology that will either upscale or send businesses packing, depending on their actions. Metaverse is the new phase of social media, an advanced technology that transcends distance and amplifies human connection virtually. To start with, the word “meta” is derived from the Greek word “after” or “beyond”. It is described as ” transcending”, when examining its nature.
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Therefore, the metaverse is a portmanteau of “meta” and “universe”, which is a hypothesized iteration of the Internet, supporting the persistent online 3-D virtual environment, through conventional personal computing, as well as virtual and augmented reality headsets. Metaverse will define every aspect of our lives. Therefore, companies should plant their stakes in the metaverse now, before it becomes part of our daily lives—and while there are still virtual worlds left to conquer – otherwise they will miss out, as it was during the dot-com era of the late 90s. The idea of the metaverse is longer in the dark. However, the technology is still nascent, but that does not mean Nigerian companies should not explore its features and possibilities. Companies can use metaverse platforms (m-platforms) to upscale and cover existing missed opportunities of not utilising social media at the outset. Companies who build new virtual worlds for their customers will naturally stay ahead of their competitors in their various industries. One might think that it is quite early to demand Nigerian companies to explore the metaverse, however, the wisest companies will take the bull by the horn and explore the possibilities by shifting into VR. Furthermore, most companies are users of tech giant products, such as Microsoft, Google, Facebook, Apple and so on, who are swiftly updating their business models into virtual reality. Facebook launched its Presence Platform, while Microsoft launched metaverse in its Team Platform, to boost mixed realities which will help coworkers to enjoy both the virtual world and the physical world. In this article, we shall see how Nigerian companies can conquer metaverse before it becomes too late.
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  1. Study And Research What The Metaverse Is All About

The first step towards overcoming metaverse is to study its possibilities and how it can fit into the company’s goals. Knowing the concept of virtual reality, alternative universe, and mixed reality and how they can help in boosting human interaction between coworkers and between companies and their customers, is very pivotal. Several materials exist on what metaverse is all about. Secondly, Nigerian businesses need to know the cost of adopting metaverse technology in the workplace and budget for it, because certainly, the metaverse has come to stay.

  1. Train Employees And Educate Customers On The New Technology

The next step is to train workers and educate customers and the audience on the use and importance of metaverse. Education and training will define the use of metaverse. Education should include how metaverse is used, its guidelines, privacy policies, technical issues and support. Furthermore, companies must introduce a new digital culture that helps employees and customers settle well into the metaverse technology.

  1. Engage In Hybrid Operation

Wiser companies slowly and steadily adopt new technologies, especially when the said technology is expensive, nascent and complex. While companies will prefer to maintain physical reality, agile companies will incorporate virtual reality in some areas of operations, such as marketing and publicity, before it can be incorporated across the board. Carrying out a hybrid operation, while slowly studying and utilizing the metaverse, is the best way to go.

  1. Test The Metaverse Market

Metaverse has come to stay, and its economy has been projected to be $400 billion by 2025. It will be driven by millions of visitors; brands that adopt the initiative. Through the metaverse, companies can understand the market in real-time frequency and reach customers on a deeper interactive level, to get data through the metaverse high-censored system, that can capture customers feedback accurately. Further, those who will test the market during the nascent stage will cover more virtual markets. Therefore, launching your product on the virtual reality markets will help your audience capture your brand message with clarity.

Conclusion

Metaverses are far from an enduring reality, but not for long. Nevertheless, when they become part of our daily lives, not every organization will be prepared to find the room to thrive in those competitive markets. Like the human beings who influence them, avatars will have limited time, opportunities, and energy to connect with brands. Businesses that hope to thrive in the metaverse tomorrow should explore their horizons today, and hedge their chances before there are no virtual worlds left to conquer. Featured Image Source: UC Today
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This article was first published on 13th December 2021

nnaemeka-emmanuel

Nnaemeka is an academic scholar with a degree in History and International Studies from the University of Nigeria, Nsukka. He is also a creative writer, content creator, storyteller, and social analyst.

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