How to Build an Effective Metaverse Startup #StartUps - The Entrepreneurial Way with A.I.


Monday, May 2, 2022

How to Build an Effective Metaverse Startup #StartUps


Before you go building that great metaverse startup, there’s a question you’ll need to answer — “What the heck is a metaverse?”

Good question. The metaverse is a virtual reality space in which users can interact with a computer-generated environment and other users. (That’s Google’s definition, at least.) A lot of companies, including Facebook, have already begun investing big in the metaverse, amongst other companies. So there’s an obvious reason as to why startups are doing it as well.

But where do you begin? Here are a few basic steps that will help you build the metaverse of your dreams.

First Comes the Tech…and the Know-How Behind It

Want to get your investors to flow some cash into your startup? You first have to show them you mean metaverse business.

That means coming up with the technology that not only puts together these virtual worlds but also sustains them.

We’re talking state-of-the-art computers, servers — the proper tools required to create these worlds. Not to mention some fancy tech, such as VR headsets and controllers — to do some hands-on troubleshooting.

There’s also hiring the right people for the job.

Sure, having experienced techs is great. For a start-up, however, it wouldn’t hurt to get some interns involved as well. They can learn as they go along with the higher-ups. As a result, you’ll find a proper balance between experience and technology.

These can go hand-in-hand, creating that metaverse that you’re looking to get people involved in. Just remember, it’s not an overnight success. It takes time and effort to put these people into a new space. This leads us to…

Driving Up Community

The next thing you need with metaverse building is that hook that will bring people in with their avatars (or “digital selves”).

What is it about your world that’s worth paying a visit? Are there mini-games? Will you hold special events? Or is it a dead space that will pretty much be a laughing stock within months?

Fortunately, this is where you want to build a good community team.

Now we’re talking social media experts, people skilled in customer service, and more. Covering all these bases will start to get people invested in your metaverse. From there, you can build upon it with new activities, as well as experimental spaces. This will help you literally spread your wings and fly.

It never hurts to find good promotional partners either. Promote bands that are willing to perform within your space for a reasonable price. Find a good hook to help bring players in, such as a variation of laser tag. (Who doesn’t like laser tag?) Find that breeding ground that will start to build an audience, and they will come.

Remember, investors like to put their money into an established space that they know will bring people. That’s why it doesn’t hurt to have a plan that will make your metaverse a worthwhile spot to visit.

Confer with your team and make sure you’ve got a structure to build upon. From there, the sky’s the limit; and the more imaginative your metaverse, the more likely it’ll get attention.

Look at Other Successes

Before you jump in with your ideas, take a look at what else has come from metaverse-themed startups.

There is a lot on the market, based on games, blockchain, and other ideas. You don’t want to copy their example by any means, but getting a good look at what they can do will help you immensely.

For example, PlayersOnly is a good example. They work within the circles of both sports and social media, with a marketplace offering digital goods. That means fans can create their ideal collections and experiences for a fraction of the price of the real deal.

While some prefer actual physical goods, this is the next best thing if you’re a bit low on funds (what with the inflation and all).

Not sure what blockchain is just yet? Take a gander at Enjin, specializing in both that and NFTs.

Since 2009, it’s been perfecting this level of technology for developers, businesses, and individuals alike. Their example could guide you in the right direction, though it’s up to you how to implement your ideas into that.

Really, the success of your metaverse depends on what you put into it.

It helps to have the right team, the right tech, and the right vision. It can take a while to craft, but we’ve seen devoted types do it before. And you can bet that they’ll continue to do so with new companies.

If you want to join the party, do your research. Buy your tools. Find the right people for the job. And look to other examples. A whole new world awaits — you just need to have the patience and persistence to put it together.

The post How to Build an Effective Metaverse Startup appeared first on KillerStartups.


May 2, 2022 at 10:00AM by Robert Workman, Khareem Sudlow