Investment in Metaverse accelerates as interest grows

“A deep interest in the metaverse is emerging,” writes Peter Bendor-Samuel, an Enterprise Tech Contributor for Forbes. His article shines a light on what forward-thinking companies should consider when contemplating a move into and potential business value from the Metaverse. In focus is the multitude of applications and business use cases made possible by the Metaverse’s seemingly endless versatility.

Indeed, companies are not shying away from making big, bold moves into the space: “Investment in the metaverse so far in 2022 has already more than doubled the total investment for 2021. Certainly, the COVID-19 pandemic helped accelerate interest in the metaverse because of the demand for online tools in business settings.’’

’Value Creation in the Metaverse’, McKinsey & Company 2022

Creating business value through the power of immersive experiences

The article named Journee as the leading platform to support organizations with building virtual immersive spaces, where guests can create digital avatars - a tried and tested application that’s been successful for clients across a spectrum of industries.

“The primary driver for the fast-growing interest in the metaverse is because companies now recognize that investing in the metaverse presents a more compelling form of creating business value than investing in technology to increase efficiencies. Companies see the metaverse as a new way to engage their clients and create new growth opportunities.”
- Peter Bendor-Samuel, Contributor at Forbes

Early adopters have the upper hand

When the Metaverse appeared, some companies took pole position, becoming early adopters of this immersive virtual space (metaverse) with untapped potential. Others took a little longer, waiting to see what their competitors would do before seeing it as a viable medium for commercial wins. What is now clear is that experimentation is at the heart of investigating the Metaverse’s potential for creating business value; the early adopters have the upper hand and are leading the way. Soon, virtual interactions and immersive online worlds will move from being a ‘nice to have’ to a ‘must-have’ for staying ahead of the competition.

As Bendor-Samuel puts it, "it comes at a time when companies increasingly want to fund value-creation initiatives that enable competing better and engaging clients and employees in new and better ways.”

Read the full piece here.

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