Updated: Mar 26
Unless you have been living under a rock, the name MetaVerse might sound a bit familiar to you. Everyone everywhere is talking about it. There have been discussions and debates around this topic. But what really is MetaVerse?
What is MetaVerse?
Well simply put into words, MetaVerse is basically a three-dimensional network of virtual reality worlds that only exists within the walls of reality headsets. It’s incredibly futuristic and something you see in science fiction novels and movies. But now as the human species is rapidly evolving and advancing its technology at a much faster rate, a “virtual life” is very much becoming the new hot topic considering how possible all of it looks now. Meta, formerly known as Facebook, has recently launched its Oculus VR Series which is one of the most advanced virtual reality headsets ever created.
What can You do in MetaVerse?
You can do anything that doesn’t necessarily require your physical presence. You can play games with friends and hang out in a comedy club afterward in the form of avatars. You can go to places that exist in a particular augmented reality (AR) which is just a computerized representation of the real world and just roam around and enjoy passing your time. You can also go to know places that do not exist and have a good time like in the case of several Virtual Reality where you can grab the rest of your gear and smash fruits with your virtual sword.
But the real reason why we are here right now is to discuss the effect the MetaVerse will have on the food and beverage industry. How will restaurants and cafes work in such an environment? Well, we are here to help you break it down and make you understand the A to Z on this concern.
But before that, we would like to talk about NFTs which is another one of the trending topics right now. To briefly understand non-fungible tokens, you will need to understand a form of currency exchange that is not really equal in value. 15 coins can be traded for 15 coins because they possess the same value. However, every NFT is unique and can't be equaled by a value.
Now, moving on to ……
The Effect of MetaVerse on the Food and Beverage Industry
People are investing millions of dollars into the metaverse to acquire digital property. A lot of digital real estate is for sale now in the metaverse and investors are constantly trying to clasp the best deals. In the same way, the big names in the food and beverage industry are trying to come up with creative ways to invest in the food market of the metaverse. There have been talks of even exchanging real food for NFTs.
Imagine you are in the metaverse, and you acquire the NFTs to an XYZ restaurant through a game or by any other means, you could even end up exchanging that token for a real meal from the XYZ restaurant in the real world. All of this sounds exciting and confusing at the same time, doesn’t it?
We completely understand! MetaVerse is still in this very fetal stage and it will take a while before we start going into virtual restaurants with our friends and families as Avatars but a business needs to be prepared for the opportunity when it drops by.
But you shouldn't be waiting for the expansion of MetaVerse in order to market your food and beverage business and should start now. If the marketing side of the business has a habit of overwhelming you, don’t worry about it and go to www.fielmente.com to book your free hospitality marketing consulting now!