June 24, 2022
June 24, 2022
Contributors: David Furlonger, Christophe Uzureau, Rajesh Kandaswamy
Experiment to create new value exchanges.
The metaverse will provide economic opportunities using new kinds of digital business assets (DBAs) and value exchange models. To augment digital transformation strategy, you’ll need to explore product development, brand placement, customer engagement and financial flows in the virtual world.
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Enterprises experimenting with the metaverse can connect, engage with and incentivize human and machine customers to create new value exchanges, revenue streams and markets. Gartner expects that a complete metaverse will be device-independent and not owned by a single vendor. It will have a virtual economy, and using DBAs, enable interaction, play, debate, study and conducting of business.
While the metaverse offers economic and customer engagement potential, capturing its opportunities requires you to consider how:
The figure below puts these three bullets in perspective by illustrating an example of the metaverse business model. Gaming customers want economic offerings and value propositions that traditional brands may not yet be targeting and cannot currently fulfill. Customer demand is driving Web 2.0 participants toward Web 3.0 capabilities using DBAs enabled by blockchain technologies.
The anticipated environment of the metaverse — in which communication protocols are not yet determined — will not completely replace current digital interactions (websites and applications), but new types of interactions and business models are likely to emerge.
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The metaverse is technology that impacts strategic business innovations. To assist in the development of new products and transform the business, it’s imperative to identify, examine and track emerging technologies. The metaverse may be in its early development stage, but the transition to it is expected to be as substantial as the one from analog to digital.
Machines will increasingly facilitate, augment and transform economic activity through programmable digital technology. Machine customers will commonly populate the metaverse, either to augment existing participants’ consumption or as autonomous machines, which DBAs will use to exchange value and negotiate on behalf of enterprises and humans.
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Those organizations that effectively use the metaverse will be able to successfully connect, engage with, and incentivize human and machine customers to create new value exchanges, revenue streams and markets.
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Recommended resources for Gartner clients*:
Top Strategic Technology Trends for 2023
Top Strategic Technology Trends for 2023: Metaverse
Quick Answer: How to Increase Customer Engagement and Drive Revenue in the Metaverse
Emerging Technologies: The Future of the Metaverse
Gartner Peer Connect Perspectives: The Metaverse and Its Implications on Our Digital Future
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