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Using Metaverse Consulting in Hong Kong: What Advantages Can You Expect?

Is your company prepared for the metaverse? If not, it’s time to start working with a metaverse consulting in Hong Kong because more and more companies, your competitors included, are racing to take advantage of the metaverse’s long list of benefits. Your clients also want to be associated with progressive brands—you simply can’t afford to lag behind. 

The world of technology is moving fast, and the metaverse is the latest addition, but many people still find themselves wondering, “What is the metaverse?” and, “What does my business stand to gain from it?”

metaverse-singapore

Keep reading as we dig deeper to answer these questions and many more you might have. We will also highlight important statistics about metaverse adoption and demonstrate why you should work with a metaverse agency in Hong Kong. Looking for a metaverse consulting agency in Singapore? or a metaverse agency in Hong Kong?

The Metaverse: What Do the Numbers Say?

  • In 2020, the value of the metaverse grew to USD 47.6 billion. 
  • In a 2021 survey, 39% of respondents said that the ability to overcome disabilities was the most important benefit of the metaverse, while 37% rated its potential to enhance creativity and imagination.
  • Over 110 million people are expected to use augmented reality services by 2023.
  • By 2028, the value of the metaverse is expected to grow to USD 800 billion. 
  • By 2030, the entire AI economy is expected to reach approximately USD 12 trillion in value. 
  • More and more companies are investing in the metaverse. Meta (formerly Facebook) leads the pack with an investment portfolio of USD 10 billion directed at growing its metaverse infrastructure. 
  • In Europe, Meta is expected to hire more than 10,000 experts for building its metaverse portfolio and actualize its benefits for companies.  
  • Supersocial raised USD 5.2 billion to develop games on the Roblox platform. 

What is the Metaverse?

You might have heard people referring to the metaverse as the next internet, but this is a misunderstanding of the concept. The metaverse does not compete with the internet, but builds on it. 

Although its application in business marketing and branding is pretty new, the concept of the metaverse has been around for some time. The word metaverse was first used in a 1992 science fiction novel called Snow Crash by Neal Stephenson. Today’s metaverse is a virtual world where people are represented by 3D digital personas, or avatars. Users interact and move around the virtual world, which is designed to mimic all aspects of the physical world, using advanced technologies such as artificial intelligence, augmented reality, virtual reality, and digital currency

Metaverse Consulting in Hong Kong

This interaction is believed to shape a type of experience that will come to redefine our day-to-day lives. So promising is the potential of the metaverse that even governments are angling to get a share of it. One example is Barbados, which has indicated its desire to open an embassy there. 

As you can see, things are starting to pick up quickly in the metaverse, and it’s time you made your move as well by bringing on board a metaverse agency Hong Kong. 

The Benefits of Using the Metaverse for Your Company

The most notable benefit of using metaverse is that you will be able to enhance your company’s engagement with your targeted clients. The immersive experience will make it easier for potential clients to get a better idea of your product, interact with you, and ultimately convert to paying customers. Other benefits you can expect from using the metaverse include: 

  • It offers you the best opportunity to stay ahead of your competitors. 

According to Bloomberg, the metaverse is likely to hit USD 800 million in the global market by 2024. As a result, it’s expected to have a huge impact on ecommerce and digital media. The level of disruption it will bring to established markets will be on a massive scale, and you can’t afford to be caught off-guard.

It’s true that a number of conventions and technologies that we are used to will be carried over, but most of the dynamics in the metaverse will be pretty new. 

Customers will not just be motivated by ads and other kinds of promotion to make the decision to buy, instead, they will take virtual tours to interact with your company and products before making up their minds. Joining the metaverse today will put you ahead of your competitors and right where the customers expect to find you. Remember that you can start small by using an already developed metaverse such as Roblox.

Benetton virtual store
  • The metaverse provides an excellent opportunity to connect to new clients.

Most of the people who are taking to the metaverse are young. As a virtual meeting and socializing world, the metaverse offers people the opportunity to do everything, from partying to shopping. This means that your company can engage your target audience based on their behavior and preferences. 

The immersive experience offered by your brand through AR will allow clients to get even closer and try various products, from tech to fashion items. So, grab this opportunity with the help of a metaverse agency Hong Kong to deliver greater engagement with targeted clients. 

  • It will help you create new revenue streams from digital assets. 

As a brand manager or entrepreneur, there is no doubt that adding a new stream of revenue can come in handy in pushing the company to the next level. The metaverse offers just such an opportunity—you can make millions of dollars selling non-fungible tokens (NFTs). These are digital representations of actual assets, such as artworks and videos, that are sold on marketplaces. Indeed, you can digitize anything, including real estate and product design, and sell to the fast-growing list of interested buyers.

Some companies that have already taken up this opportunity and sold NFTs include Coca-Cola, Gucci, Macdonald’s, and Ray-Ban. Even private individuals are selling NFTs. The most notable is Jack Dorsey, who sold the first tweet on Twitter for USD 2.9 million. If you still want to make millions with NFTs, consider buying valuable assets and work with a metaverse agency in Hong Kong to tokenize and sell them. 

gucci-garden-virtual-tour
Gucci garden

Why You Need to Work with a Metaverse Agency in Hong Kong

Now that you have seen the numbers and benefits associated with the metaverse, it is time to make the big move. But where do you start? This can be a pretty complex process because the technology involved is very advanced. Even for large companies with bigger financial capabilities, the metaverse is pretty new and demands specialization. The best way to get it right and reap more benefits is by working with an agency of experts in Hong Kong

With a metaverse agency in Hong Kong, you don’t have to worry about the technology aspect because their experts will take care of it for you. With their assistance, you won’t need to spend big on a new specialized department or studio for your company. 

Other benefits that come with using an agency of professionals include: 

  • You get customized services based on the nature of your company. 
  • It is pretty easy to get started because the agency of experts you select has the right infrastructure. 
  • You can cut the cost of operations by a huge margin working with an agency of experts. 
  • Your company’s staff can learn a lot about the metaverse from the experts. 
  • Working with an agency now makes you a pioneer in the niche, helping you to race ahead of the competition. 

The metaverse is redefining the way people interact and carry out their daily activities. It provides companies with an awesome opportunity to take the experience of their audiences to the next level, improve engagement, and strengthen their brand. As more companies from Facebook to Reebok seize this opportunity, you should not be left behind. Reach out to Wild Agency, the best metaverse studio Hong Kong for all the metaverse assistance you could possibly need. Wild Agency has helped other top brands get into the complex world of the metaverse, and now it’s your turn.