The world around us is changing rapidly and business is no exception. New niches and industries that no one knew about a few years ago are now on everyone’s lips. We can already see the business of the future, understand the course of its further development, and what entrepreneurs should pay close attention to in order to find out which business they should start or invest in. We have talked about this with Ivan Kroshnyia co-founder of an international group of companies whose key areas include investment.
What will the business of the future look like?
Metavers is one of the rapidly evolving niches today. I would say that the metaverse is more of a creative word and a concept for now. Admittedly, the idea of a metavers, however, will end up being a new economic cluster. Trade, teleworking, online learning, the booming gaming world and the development of the cryptocurrency industry will further encourage a new trend, creating new opportunities for those wondering which business to start. The metaverse causes the development of relevant tools as a whole new field of business emerges to meet the needs of the metaverse users. Moreover, there are companies that have already achieved great success in this niche.
Top most profitable investment opportunities in the VR world
The idea of the meta-verse encompasses many areas of investment and business development. These are companies that invest in software and hardware to support virtual spaces, high-bandwidth networks, cloud services and telecommunications companies, virtual platforms, startups that create digital twins and 3D reconstructions, payment systems, to name a few.
There are a number of examples to back it up:
- Meta-platforms with implementation of new functions in the meta-verse.
- Tencent is a strategic partner for Epic Games and the Roblox gaming platform.
- Roblox announced plans to build a metaverse by focusing on players’ needs.
- Sportswear giant Nike is teaming up with Roblox to launch a virtual world called Nikeland.
- Microsoft, Nvidia, Qualcomm, Autodesk, TSM, Sony, Activision Blizzard and Electronic Arts – this is just a small list of stocks in the companies involved in the VR world to a greater or lesser degree.
On top of that, this is one of the biggest concepts in the technology and blockchain industry in general. These tokens form the very backbone of ecosystems. These are blockchain platforms where NFTs traded, eg graphic images that enable people to own a virtual asset in a particular metaverse. Blockchain projects are particularly appealing in this sense as they build an infrastructure capable of ensuring compatibility between different blockchains within the same platform.
In addition, these are social tokens that are based on a community, individual or brand, and which can also become part of the meta-verse later on. NFTs and DeFi are the most important blockchain applications in the metaverse world. Both can keep the economic system going. If you are looking for interesting investment projects or considering which innovative business to start, these industries will suit you perfectly.
What are the metavers of the future?
I think the metaverse is designed to expand the internet, not replace it. There are many types of virtual worlds and we can expect more to come. The meta-verse involves the creation of a single integrated system where virtual worlds merge into one. It is neither an alternative reality nor a complete virtual world. Basically, it brings reality and virtual reality together.
Basically, it’s a world of endless interconnected virtual communities where people can meet, work and play using VR headsets, augmented reality glasses, smartphone apps or other devices.
IT companies generally seek to create a place that people can visit using smart glasses or a VR headset to get them completely immersed in a computer-generated world. It can be an office, a coast or a forest. The imagination is limitless here.
The function of metavers as crypto-based projects is that people can earn material resources in virtual worlds and exchange them with other digital or real goods.
What else can we expect in the coming years, and how can companies get ready for it?
VR technologies will expand into different business sectors, e.g. high-tech medicine. The US authorities are already planning to use virtual reality to treat chronic pain. VR glasses and health and breath sound amplifiers help patients relax while creating body sensations. Based on the results of clinical trials, patients experienced almost a 70% reduction in pain while the effect lasted for at least three months. Meta Company unveiled a prototype of VR gloves that allow you to sense virtual objects. The glove actuators are capable of mimicking the pressure sensations.
What devices do metaverse users need?
The development of gadgets such as glasses and VR gloves for metaverses is another thing that can give you a clue as to which business to start in 2022.
VR technologies are a bridge that connects the metaverse and the real world. This requires VR and / or AR devices. For example, Meta Quest 2, an advanced all-in-one mobile VR device, currently has the largest market share in the world. However, we still have to wait a few more years for the first full-fledged AR glasses from Project Nazare.
Consumer-type VR equipment will open the doors to the meta-verse, where the user will be able to travel to another world by simply wearing a headset. AR equipment and technologies can already create a perfect metaverse scene. It is worth mentioning that VR has a better potential as the entertainment industry can be easily promoted and can reach more people faster. That said, the major competitive advantage of the hardware will include diversified content, interactive algorithms, and engineering potential.
But what about other areas besides the metavers? What kind of business can you start?
Even if the metavers take the market by storm, I will still be wary of this particular niche, as it is still unknown whether this new world will be viable and competitive. This industry offers plenty of opportunities for entrepreneurs, but there are also a lot of risks involved.
Apart from VR technologies, there are other investment and entrepreneurial opportunities that should not be overlooked. The thing is, no metavers can replace basic human needs. And of course, we will not wear VR glasses, headphones or gloves to handle daily tasks. Health care, food, transport and housing are and will be crucial. These areas can be safely considered promising. For example, I have invested in real estate projects in the Czech Republic, the production of eco-friendly e-bikes and a chain of premium coffee bars in the UAE, and I am already earning a solid return on investment.
It is up to you to decide which business and investment niche to choose. If you need some advice or help building and scaling your business, I would like to offer my business guidance.
Source: The Nordic Page