Selling what to who, what’s the business model here?

There are several business models that co-exist in Web 3.0 and for certain, some we haven’t yet considered! The ones we deal in now are;

Direct to Avatar (D2A)

Providing virtual goods to avatars of the customer.  In some games, your character can collect weapons, special powers, clothing and accessories these can be acquired through achievement, for example clocking up x amount of points or perhaps hours of gameplay or through purchase either with FIAT or Crypto Currency.  This is the same for metaverses, you can kit out your avatar, build your virtual house or business or perhaps buy a virtual drink in a virtual nightclub in a virtual world. 

These goods may only be usable or traded in the virtual world where they were earned or bought, they may have no real world value unless they are NFT’s, in which case they can be traded or sold on the platform or on trading platform such as Opensea.  

Virtual to Physical (V2P)

A purchase is made in the metaverse or in a game experience, which is then supplied in the real world. This is the standard e-commerce model, list of goods, shopping cart, pay, the stuff gets delivered. The only difference is that in the metaverse store with VR /AR, you will be able to shop in a more natural and real environment with real interactions.  You can try things on, or at least your avatar will be able to try things on.  Retailers report that XR viewing means shoppers' expectations are more realistic and they report significantly lower returns from conventional online shopping sites.

Physical to Virtual (P2V)

Physical to virtual are goods, purchased in the real world which have some virtual benefit, the benefit can be the entire value of the purchase or the purchase can be a good with the added advantage of having the metaverse token, which could be points or access to VIP areas of a metaverse, an invitation to a launch event in the metaverse are examples. 

Play to learn (P2L)

Play to learn, the future of education? maybe, immersive learning is more efficient in that one learns more in the immersive, illustrative and distraction free environment of VR than traditional or online learning, with faster learning, a better understanding of the material and more enthusiam for the learned material.

Within gaming we see the following business models, not driectly relevant but as we gamify, we may see more widespread adoption of gaming methods in all aspects of our online interactions.

Pay to Play (P2P)

Pay to play Is as it sounds, you want to play, you need to pay, it can also ramp up income with “In-app purchases” to buy special equipment or access.

Free to Play (F2P)

This is where access is free to join a game and play, the game is monetized as certain restrictions and limits are placed on gameplay so players need to buy in to move further up the league or achieve their personal gaming goals. Again In-app purchases can be deployed to ramp up the revenue.

Play to earn (P2E)

Is a concept where gamers earn items, points, gold stars etc which are given a real value by the game, players can sell, rent out or trade these items therefore making money from gaming and contributing to the games development and attracting new players.

There’s a place for everyone at the metaverse table. My role is to advise small to medium sized hospitality companies on web 3.0 strategy and to build tools to enable them to integrate and evolve their brands in the metaverse.  If you want to touch base and have a chat please reach out and we will set up a free no obligation initial call on  +44 7393 731707.  John Curtis Multiverse Hospitality Ltd.