Jump into the metaverse to connect with consumers and explore endless opportunities
Like the Internet before it, the metaverse is a virtual space bringing people, companies, and products together in both digital and real environments to create new economic opportunities. The groundwork is already laid. People and organizations jumping in are gaining invaluable experience, meeting customers, developing revenue streams, and even shaping metaverse culture.
In Navigating the Metaverse: A Guide to Limitless Business Possibilities in a Web 3.0 World, a team of Silicon Valley thought leaders delivers a groundbreaking discussion of how to find the right opportunities in this fast-moving universe. You'll explore everything from the metaverse basics, to strategy, to launching your first metaverse project. In the book, you'll find:
- Data and market analysis to erase any doubt that the metaverse is the next big thing.
- Foundational knowledge about the metaverse, metaverse economy, Web3 technology, and more.
- The essential connection between metaverse environments, businesses, community, and digital products that make the metaverse economy so powerful.
- A deep dive on non-fungible tokens (NFTs) and how to make the most of these assets.
- Frameworks to help find, nurture, measure, and capitalize on innovation in the metaverse.
An essential breakdown of the next stage in online business, Navigating the Metaverse belongs in the libraries of entrepreneurs, executives, and innovators looking to lead in the new age of online business and commerce.
Table of Contents
Foreword by Yat Siu, Chairman of the Board, Animoca Brands ix
Introduction xi
Why Should Businesses Care About the Metaverse Economy? xiii
Who Should Read This Book xvi
How We Structured the Book xvii
Part I Getting to Know the Metaverse and Metaverse Economy 1
Chapter 1 A Primer on the Metaverse 3
Terminology 4
What Is the Metaverse? 8
Putting the Metaverse in Historical Context 15
A Universe in the Palm of Your Hand 17
Interoperability Is Key to the Metaverse’s Future 18
Chapter 2 What Is the Metaverse Economy? 25
How Does Currency Work in the Metaverse? 29
Entering and Advancing in the Metaverse 31
Tokenomics 35
The Rise of Community Commerce 43
Power to the Player: Decentralized Governance 45
Four Key NFT Distribution Channels 46
NFT- Based Metaverse Revenue Model 49
Extra Guidance from the Authors 62
Part II Building a Strategy for the Metaverse Economy 65
Chapter 3 Building a Business Case for the Metaverse 67
Business Challenges 67
Is the Metaverse a Blip or a Trend? 72
The NFT Market Statistics 72
Key Value Propositions of the Metaverse Economy for Brands 75
Timing Is Everything 81
Crossing the Chasm of Metaverse Adoption 83
The Business Impact of Web 3.0
Technology 84
Extra Guidance from the Authors 88
Chapter 4 Meet the Metaverse Consumers 91
Demographics 91
The Three Flavors of User Engagement 96
Metaverse Mindsets 100
Importance of Avatars to the Metaverse and Digital Identity 110
Extra Guidance from the Authors 113
Chapter 5 New Business Opportunities in the Metaverse 115
Metaverse Business and Job Concepts 116
Metaverse Metrics 124
Extra Guidance from the Authors 129
Chapter 6 Key Segments of NFT Commercialization 131
Marketplaces 132
(Fan) Token Offerings 136
Fantasy Games and Collectibles 138
Metaverse dApps 140
Other Avenues to Explore 146
Extra Guidance from the Authors 151
Part III Metaverse Product Development, Action Framework, and Future Perspectives 153
Chapter 7 NFT Deep Dive 155
What Is an NFT? 156
Types of NFTs 157
How Do NFTs Fit in the Metaverse Economy? 158
Key Considerations for NFT Design and Purpose 165
Extra Guidance from the Authors 180
Chapter 8 Putting Together an Action Plan 183
Discover 185
Learn 186
Build a Case 188
Connect to the Community 190
Get IP into the Metaverse 192
Prepare for Tomorrow 194
Extra Guidance from the Authors 195
Chapter 9 Perspectives on Tomorrow’s Metaverse 197
Grow with the Community 197
Plug into the Technology Trifecta 199
Experience Is King 201
Make the Right Play in the Economy 204
Final Guidance from the Authors 220
Go Boldly 223
About Upland 225
References 227
Acknowledgments 233
About the Authors 237
Index 241
