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How the Metaverse May Impact Corporations

1 min read · 358 views Bong-Geun Choi Mar 24, 2023

When we hear discussion about the metaverse, we often think of an interconnected virtual world.  We often associate the metaverse with gaming, entertainment, and shopping applications. But, the metaverse may impact the way that corporations operate. 


A Forbes article noted five ways that the metaverse may impact corporations.[1]


Employee Onboarding, Training, and Communication

Some companies have started to use the metaverse as part of the onboarding process after they are hired.  New employees can be given virtual tours of global corporate locations from their respective locations.  Corporations may also use the metaverse to provide immersive training, replicating the feeling of work, and facilitate communications through virtual meetings.


New Product Testing

Companies may use the metaverse to test new products and designs.  For example, apparel companies can create virtual showrooms to allow consumers to view and give their opinions on new designs.  Car manufacturers can place individuals in new automobiles to take a virtual test drive or try new features.  The ability to create immersive experiences in the metaverse may help companies test new products before producing them.


Non-Fungible Tokens

Non-fungible tokens have become a means for authenticating digital property. Companies will likely become more proficient in the use of NFTs, particularly those that produce digital products such as art, music, video content, and collectibles.


Greater Inclusion

The metaverse may allow older and infirmed people with limited mobility the ability to experience traveling and other physical activities virtually.  It may also create more social experiences through digital worlds that help these individuals avoid social isolation.  Many companies are producing such digital experiences with older individuals in mind, creating technology that makes it easier for them to navigate digitally.


Democratizing Technology

The inclusion of older and infirmed individuals is an example of how the metaverse is democratizing technology.  All individuals are able to experience the same event through immersive digital worlds.  The old can become young, and the infirmed can become mobile – digitally.


Perhaps the CMO moniker at your company will soon stand for Chief Metaverse Officer.


[1] Lukowski, Jorge, Five Ways the Metaverse Is Impacting Corporations, Forbes, 11/10/22


Bong-Geun Choi

Chief Economist


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