Three Insights On the Business Opportunity for the Metaverse

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The Metaverse Will Enhance Physical-World Experiences

We have all been living in a hybrid world of online and offline, especially over the last year plus, with the ongoing pandemic. From video calls to messaging, we are more connected than ever. However, the metaverse aims to simplify these with less friction and by enhancing physical-world experiences.

Current use cases of augmented reality, including Spark AR, are great examples of how the metaverse will meet the physical world. We’ve already seen businesses use AR to allow customers to virtually drop furniture in their home to see how it would fit, or use AR to let people try on makeup or glasses right from their Facebook feed. Regardless of sector, there will be use cases for businesses that seek to leverage mixed reality and physical-world experiences.

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The Metaverse Will Be Co-Created and Built Responsibly

No one company will build the metaverse alone. This will be a global partnership with businesses, creators, policymakers, entrepreneurs and more.

From its inception, the metaverse will be built with the framework and foundation of creating a space where people can be, and feel, safe. Integrity, safety and privacy will be woven into the fabric, and we’ll work with experts in government, industry and academia to think through issues and opportunities in the metaverse.

So, what can I do as a business right now? First and foremost, while the metaverse is the future, don’t stop focusing on today.

The mobile internet enabled a new way to personalize experiences to meet people's growing expectations for how they want to engage with businesses. We believe the metaverse will enhance this trend, and Meta technologies will play an important role.

But as was true with the mobile internet, the business opportunity will follow consumer behavior. That’s why it’s important to continue building your business for today’s opportunities by innovating, experimenting and growing your audience, whether on Facebook, Instagram, Messenger or WhatsApp — because the connections that you're building on these platforms now will still apply in the metaverse. The most successful brands in the history of business have evolved and stayed relevant by understanding their customers' changing needs. You can take steps in the metaverse by building new commerce channels via Facebook Shop and Instagram Shop or by creating a filter with Spark AR. You can try building augmented reality ads that help customers get a sense for your products from their home.

Finally, if you haven’t had a chance to watch the entire Connect 2021 event, you can view a recording here.