Since the world got introduced to the metaverse, there has been a lot of talk about it, especially among investors – that’s why “the Metaverse” is the latest catchphrase in the tech industry.
With the way technology is advancing, it is only a matter of time before this virtual reality starts to change our lives completely – and people want to know what it means for them.
In practical terms, developing a metaverse application in today’s environment means developing a game or “experience” for any number of different platforms — everything from VR systems like the Oculus Quest and HTC Vive, to emerging virtual worlds like Roblox and Fortnite, to gaming consoles like Playstation and Xbox, to mobile apps and even the web itself.
As a business person, the metaverse concerns you in a special way because if your business model does not catch up with the virtual reality world, you will see a decline in revenue. So you need to be updated. There are also many investment opportunities that the metaverse brings along with it and you can tap into them to make the best out of your participation in the tech industry.
Since this is the next phase in the evolution of technology, it is wise to consider sustainability when choosing the metaverse investment opportunity to get involved with. Here are some of the most popular software investment and business opportunities that will work hand in hand with virtual reality and keep you in line with this new dimension.
One way or another, we all saw it coming. Even before the term “metaverse” became popular, gaming has always been about putting yourself in a different reality and carrying out different tasks – which is more or less what virtual reality is all about. No wonder the gaming industry is predicted to be worth over $400 billion in 2024.
In the metaverse, most of the games are team-based rather than single-player, so the different players get connected with each other in RPGs (role playing games).
Gaming has always been in vogue and people will never stop playing. In fact, a lot of people proudly identify as game addicts. So, investing in gaming software is a bright business idea for the metaverse because of how well it appeals to young people and how bright the future of gaming is going to be.
Augmented reality software
Another aspect of technology that will work closely with the metaverse is augmented reality software development.
Young people are already understanding this – which is why, in order to get themselves ready for the jobs that this digital transformation will create, many of them are already taking courses to learn how to build augmented reality applications.
As the gaming industry blossoms with the metaverse, so will augmented reality because they connect the gamers’ avatars in the same room. A set of smart glasses, a smart tab, or even a smartphone camera can easily be loaded with augmented reality software to make the avatars interact in RPGs.
For digital transformation to completely take effect in our lives, augmented reality will play a key role. So it is a solid investment opportunity.
It is not possible to talk about investment opportunities these days without mentioning NFTs. Non fungible tokens always have a way of getting involved in every business discussion on the internet – including metaverse investment opportunities for software.
Still on metaverse, it is no news that big brands such as Nike and Gucci are already creating NFTs of their products for people to buy and use to dress their avatars. Some are even going as far as building stores in the metaverse for people to walk into.
There are so many things people can do in the metaverse, but none of those transactions can be carried out without the use of NFTs. We can safely say that these unique tokens are the main unit of transaction in the virtual world.
NFTs are already getting very popular, but with what is happening in the metaverse, the potentials of NFTs have not even scratched the surface, so this early stage is the best time to invest in non fungible tokens that will shape the entire metaverse.
Virtual event planning software
Event planning is a blossoming business in the real world, so in virtual reality, it can also be as big. Since the covid-19 pandemic began, virtual event planning has become more popular and whether people like it or not, it is here to stay, so it is important to consider investing in the software’s that will make it easier for anyone to attend events virtually.
This is an idea that many people will like because there are so many advantages of having events virtually, especially since the pandemic is not yet over and even when it does, people will still choose it over having physical events because of the convenience.
Virtual reality fitness training apps
Getting fit is not only for people that want to reduce weight, it is for everyone. Which is why virtual reality fitness training software should be on your mind right now.
The main challenge many people face when they work out is the stressful part of it, it is hard because it feels like a chore. But the good news is that people who use virtual reality training mediums have opined that it is not stressful at all, the appeal in it is that it feels like a game, which takes away the mental fear of stress.
This model is already giving traditional gyms a run for their money and in a few years, these gyms could easily get replaced by virtual reality fitness trainers who will make the whole process more fun than stress…and still give the same result.
As times are changing, your software investment ideas should be in sync with the environmental, social, and government factors (ESG investing) because it only takes one policy for things to change in your business. Luckily, the software opportunities listed here are not only profitable, but also ESG friendly.