How will companies use Web3? Organizational Culture in the Metaverse
In recent years, the business has not been “as usual.” The pandemic has had a significant impact on the labor market and how many of us work. Most employees who have the option to work from home do so. Virtual offices are gradually gaining popularity as an alternative to face-to-face meetings.
Everyone seems to be talking about the metaverse now. When Facebook changed its name to Meta, the term gained a lot of traction. Since then, many people have been curious about what the “metaverse” is all about.
The metaverse is no longer merely a game. NFTs and VR games aren’t the only things in the metaverse.
The metaverse notion has been around for decades, but its recent rebirth is not coincidental. Just as blockchain technology (particularly NFTs) has exploded in popularity in the last year, so has the modern concept of living a fully digitized life.
Currently, the most well-known applications of metaverse technology are either NFTs or gaming. Platforms like Decentraland, Cryptovoxels, and The Sandbox continue to reward users for creating virtual homes, displaying, and trading NFTs, and participating in their gamified ecosystems in general.
Tilt Brush, a Google product, is an excellent illustration of how metaverse technology has aided in the growth of the NFT ecosystem. Tilt, which was designed to be a virtual counterpart of a fully equipped painter’s studio, has become the bread and butter for artists, who use it to make immersive NFTs that are sold for a lot of money.
We’ve even seen a slew of NFT art galleries pop up in the metaverse, with Sotheby’s probably taking the prize for their virtual London headquarters. Companies like OnCyber make it easy for collectors of all levels to present their NFTs in the metaverse, so institutions aren’t the only ones being enticed to open galleries.
What, though, is the true value of blockchain-based gaming? Is that all the metaverse has to offer? No. While these games are entertaining, the main benefit of accessing the metaverse is that it provides a new way to engage with others.
We may meet a wide variety of people from the comfort of our own homes thanks to open-world metaverse games. These meetings have advanced well beyond Omegle and chat rooms. Users can interact face-to-face with individuals from all around the world through services like VR Chat and Meta’s Horizon Worlds.
Imagine your complete team putting on their creative avatars, showing up to a lounge area, and giving a presentation instead of staring at name cards and frozen screens in a 10-person video meeting. All of this is doable in the metaverse.
This blurring of the lines between the corporate and casual metaverses could be the tipping point for companies interested in establishing a Web3 organizational culture. Even the newest entrants into the metaverse race appear to recognize this: the metaverse’s interactive and accessible components are likely its best-selling factors.
Creativity is inspired by functionality and vice versa. This appears to be the ambition of many metaverse startups, perhaps best demonstrated by vSpace, an extended reality platform that offers plug-and-play 3D video conferencing. The business tool centered on interpersonal connection nearly feels like a game with Twitch, Vimeo, and YouTube integration all in one.
Every month, more aspects of normal life are being incorporated into the metaverse. Use-cases are rapidly expanding. Everyone should have access to the metaverse. Sure, it can be perplexing, but the metaverse arrives, and it no longer must be a singular experience.
Companies are unlikely to start incentivizing their entire workforces to show up virtually for a full 40-hour workday anytime soon. However, bringing your team into the metaverse can now be as simple as setting up a meeting.
NFT Labs is a web3 company exploring big ideas in community, utility and engagement to push the crypto, NFT and metaverse space forward. To learn how your organization can participate in the web3 revolution, write to us at email@example.com.
We’re backed by leading blockchain institutions including Longhash Ventures, Antler, Oracles Investment Group, and Shima Capital among others. NFT Labs is also the issuer of the MYNE token ($MYNE), a BEP-20 utility token for Itsmyne and partner applications. MYNE serves as the gateway between traditional social media and blockchain-based social economies.