[ Tips & Tricks ]
Metaverse Studio in Hong Kong: Your Gateway to the Latest Technology for Business Success
Can you imagine a type of virtual world where people live, work, shop, communicate, and have fun, all from the comfort of their living room or office? Thanks to the metaverse, this has now become a reality, and you can reap all the benefits of this new world for your company with the help of a metaverse studio in Hong Kong.
The metaverse is not new, but little was known about it until October 2021, when Facebook changed its name to Meta. The company is using USD 10 billion to build next-generation technologies to enable and advance its vision of the metaverse. It’s not just Facebook that has realized the potential of the metaverse, however. More and more companies are entering this space, and your brand should make its move quickly to take advantage of a long list of benefits with the assistance of a metaverse studio in Hong Kong.
Keep reading as we dig into key information and statistics about the metaverse, as well as the benefits it holds for your brand.
What is the Metaverse?
As the name suggests, the metaverse is a virtual universe with dimensions modeled on those of the physical world. It is designed to recreate what people do in the latter, such as playing, shopping, socializing, and even going on holiday. All of these activities have been made possible in the metaverse, allowing people to interact much like they are used to in their daily lives.
It even extends to industrial workspaces: companies can create digital twins of their machinery for testing in the metaverse before real implementation. The design of the machinery can then be adjusted to better suit the targeted clients. Looking for a metaverse studio in Singapore?
In digital marketing, the applications of the metaverse are limitless. As we are going to explain in more detail shortly, it offers your brand an excellent opportunity to rethink its interactions with your audience. Good examples include the direct sale of virtual assets to increase revenue generation.
Important Statistics on the Metaverse
The metaverse allows your brand to host its own world where it can sell products and services, interact with clients, and even acquire new ones. You will have to redefine your products/services for the virtual world, a technical and complex process, but the returns will be worth the effort.
Let’s look at some numbers defining this space:
- The term metaverse was first used in 1992 by Neal Stephenson in his science fiction novel Snow Crash, where humans and avatars interacted with each other.
- Statista reports that after changing its name to Meta, Facebook committed USD 10 billion for the development of AR/VR content, software, and hardware.
- By October 2021, the market capitalization of Web 2.0 metaverse firms had reached USD 14.8 trillion.
- By 2026, it is estimated that 25% of the world’s population will spend at least 60 minutes every day in the metaverse for digital activities, such as education, gaming, shopping, and entertainment.
- Commercial use-cases of virtual reality (VR) and augmented reality (AR) are expected to get the largest investment through 2024, reaching USD 4.1 billion.
- By 2024, Statista estimates, there will be about 1.7 billion mobile augmented reality (AR) users across the globe. This will be a huge rise from the fewer than 200 users in 2015 and 1.1 billion in 2022.
- By January 2022, about 26% of the US adults indicated they viewed the metaverse as the future of technology. 9% more held the view that the metaverse would be better than real life.
These numbers point to one thing: the world of technology is shifting rapidly. So, are you ready to take advantage of this latest development? Make sure to work with the best metaverse studio in Hong Kong for maximum returns.
The Benefits of Using the Metaverse
Most metaverse platforms operate on blockchain technology, a form of decentralized public ledger that works with a network of computers. The biggest advantage of using blockchain is that once a record is added to the ledger, it is added permanently and becomes impossible to change. For that reason you can operate without worrying that your information is vulnerable to malware or manipulation by insiders. Other benefits of the metaverse include:
- It allows you to create and sell non-fungible tokens (NFTs).
NFTs are a new type of asset which is designed to represent digital items such as videos, images, or in-game items. Once created and registered on the blockchain, these digital assets can be traded in specialized marketplaces. A good example of an NFT is the first ever tweet, which was sold for USD 2.9 million by Jack Dorsey in 2021.
Even more remarkably, in 2021, 12-year-old Benyamin Ahmed sold NFTs of his digital art for GBP 290,000. Ahmed’s collection of pixelated images depicting whales was called Weird Whales and was created during his school holidays.
Your company can also create digital tokens and sell them in the metaverse by working with a metaverse studio in Hong Kong. The experts there can help you understand the world of NFTs, identify the best assets to use, and make millions from them.
- You can boost your brand’s engagement with its targeted audience.
It’s important to build long-term relationships with clients for your brand to grow, and the metaverse allows you to achieve this goal more easily than ever. Customers will love joining your virtual events or playing your games. You can even design your own space that they can visit or go to them yourself in other virtual worlds like Roblox.
That’s not all. Virtual exhibitions offer an awesome chance for you to create a bridge to your customers by providing them with an immersive experience of the service or product on offer. Ultimately, this engagement will turn visitors into new customers for your brand.
- The metaverse improves your brand’s visibility.
As the metaverse continues to trend, you have the opportunity to ride high on the wave. Sure, it’s a technical subject and that alone is enough to make a lot of people shy away, but you should soldier on. With a metaverse consulting in HK, you will become a trendsetter that others will look up to.
You will maximize profitability and leave competitors to play catch-up.
Why You Should Work with a Metaverse Studio in Hong Kong
Although the idea of engaging your target audience in the metaverse has been around for years, it was only after Facebook changed its name to Meta that it entered the mainstream. It is still a pretty new set of technologies, and exploiting it requires well-honed skills. Whether your business is new or has been in operation for some time, the best approach is working with a metaverse studio in Hong Kong.
Agencies employ professionals with the latest skills in blockchain application and digital marketing. They have helped other brands join the metaverse and are willing to guide your company too. They will help you create engaging avatars, develop non-fungible tokens, and test products before launch.
Your team will also amass useful skills which will last even after the contract with the selected agency lapses.
One of the most reliable metaverse studios in Hong Kong is Wild Agency. They have the right professionals to help you craft the best metaverse strategy. If your company is new, Wild Agency can help you identify the best strategy, implement it quickly, and race past your competitors. Reach out to our metaverse studio Hong Kong now to get all the metaverse assistance you need.