Navigating the Metaverse A Guide to Limitless Possibilities in a Web 3.0 World

Jump into the metaverse to connect with consumers and explore endless opportunities

Like the Internet before it, the metaverse is a virtual space bringing people, companies, and products together in both digital and real environments to create new economic opportunities. The groundwork is already laid. People and organizations jumping in are gaining invaluable experience, meeting customers, developing revenue streams, and even shaping metaverse culture.

In Navigating the Metaverse: A Guide to Limitless Business Possibilities in a Web 3.0 World, a team of Silicon Valley thought leaders delivers a groundbreaking discussion of how to find the right opportunities in this fast-moving universe. You'll explore everything from the metaverse basics, to strategy, to launching your first metaverse project. In the book, you'll find:

• Data and market analysis to erase any doubt that the metaverse is the next big thing.
• Foundational knowledge about the metaverse, metaverse economy, Web3 technology, and more.
• The essential connection between metaverse environments, businesses, community, and digital products that make the metaverse economy so powerful.
• A deep dive on non-fungible tokens (NFTs) and how to make the most of these assets.
• Frameworks to help find, nurture, measure, and capitalize on innovation in the metaverse.

An essential breakdown of the next stage in online business, Navigating the Metaverse belongs in the libraries of entrepreneurs, executives, and innovators looking to lead in the new age of online business and commerce.

CATHY HACKL is a globally renowned tech futurist and executive with extensive experience working with HTC VIVE, Magic Leap, and Amazon Web Services. She is the CEO of the Futures Intelligence Group.

DIRK LUETH is a serial entrepreneur and early adopter of blockchain technology as the co-founder and co-CEO of Upland. He has also co-founded European and US-based companies in the fintech and digital media spaces, including Financial Times Deutschland and Forbatec.

TOMMASO DI BARTOLO is a serial entrepreneur with two successful exits under his belt. He is a faculty member at UC Berkeley where he lectures about entrepreneurship and innovation. He is the author of How to Growth Hack Your Startup.

JOHN ARKONTAKY is a content creator and strategist. He has covered the technology industry as a writer, editor, and journalist. He works alongside industry leaders, managing thought leadership programs for leading tech companies.

Foreword by Yat Siu, Chairman of the Board, Animoca Brands ix

Introduction xi

Why Should Businesses Care About the Metaverse Economy? xiii

Who Should Read This Book xvi

How We Structured the Book xvii

Part I Getting to Know the Metaverse and Metaverse Economy 1

Chapter 1 A Primer on the Metaverse 3

Terminology 4

What Is the Metaverse? 8

Putting the Metaverse in Historical Context 15

A Universe in the Palm of Your Hand 17

Interoperability Is Key to the Metaverse’s Future 18

Chapter 2 What Is the Metaverse Economy? 25

How Does Currency Work in the Metaverse? 29

Entering and Advancing in the Metaverse 31

Tokenomics 35

The Rise of Community Commerce 43

Power to the Player: Decentralized Governance 45

Four Key NFT Distribution Channels 46

NFT-Based Metaverse Revenue Model 49

Extra Guidance from the Authors 62

Part II Building a Strategy for the Metaverse Economy 65

Chapter 3 Building a Business Case for the Metaverse 67

Business Challenges 67

Is the Metaverse a Blip or a Trend? 72

The NFT Market Statistics 72

Key Value Propositions of the Metaverse Economy for Brands 75

Timing Is Everything 81

Crossing the Chasm of Metaverse Adoption 83

The Business Impact of Web 3.0 Technology 84

Extra Guidance from the Authors 88

Chapter 4 Meet the Metaverse Consumers 91

Demographics 91

The Three Flavors of User Engagement 96

Metaverse Mindsets 100

Importance of Avatars to the Metaverse and Digital Identity 110

Extra Guidance from the Authors 113

Chapter 5 New Business Opportunities in the Metaverse 115

Metaverse Business and Job Concepts 116

Metaverse Metrics 124

Extra Guidance from the Authors 129

Chapter 6 Key Segments of NFT Commercialization 131

Marketplaces 132

(Fan) Token Offerings 136

Fantasy Games and Collectibles 138

Metaverse dApps 140

Other Avenues to Explore 146

Extra Guidance from the Authors 151

Part III Metaverse Product Development, Action Framework, and Future Perspectives 153

Chapter 7 NFT Deep Dive 155

What Is an NFT? 156

Types of NFTs 157

How Do NFTs Fit in the Metaverse Economy? 158

Key Considerations for NFT Design and Purpose 165

Extra Guidance from the Authors 180

Chapter 8 Putting Together an Action Plan 183

Discover 185

Learn 186

Build a Case 188

Connect to the Community 190

Get IP into the Metaverse 192

Prepare for Tomorrow 194

Extra Guidance from the Authors 195

Chapter 9 Perspectives on Tomorrow’s Metaverse 197

Grow with the Community 197

Plug into the Technology Trifecta 199

Experience Is King 201

Make the Right Play in the Economy 204

Final Guidance from the Authors 220

Go Boldly 223

About Upland 225

References 227

Acknowledgments 233

About the Authors 237

Index 241

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