Top 5 metaverse business opportunities in Dubai
Written By Antima – 06th Oct’22
Metaverse has been leading the virtual world for a long time. It has enabled humans to interact with the digital universe in real time. Metaverse has encouraged many investors to start a business and grow it using the latest technology. This concept has become a huge sea of business opportunities for startups and SME companies in Dubai.
What is the Metaverse?
Metaverse is a broad term that brings together various digital elements such as augmented reality (AR), virtual reality (VR), Non-fungible tokens (NFTs), cryptocurrencies, etc. Furthermore, it also makes it possible for people to interact digitally with one another. It is a virtual environment in which users can socialize, shop, participate in various activities, and explore new things.
The various virtual worlds that make up the metaverse are all interconnected. Every reality in the metaverse will have a distinct function. Some will be made for working or playing, others for socializing or shopping, and others for a number other things. Within the metaverse, anyone can build their own world and link it to other worlds. Today, every organization is moving towards a digital realm and looking for a successful business setup in Dubai. This has also motivated businesses of all sizes to make it big and take it to new heights.
Features of metaverse
Many companies around the globe are getting ready to provide digital services through the metaverse. All different sizes of companies, including small, medium, and large corporations, are looking for lucrative opportunities within the metaverse.
Some of the major features of metaverse are:
A metaverse is a decentralized network where no particular individual or company has the authority to alter data or control it.
Metaverse is easily accessible to anyone all over the world. This means that you can access the virtual universe 24X7 from anywhere.
3. Real-time interaction
Metaverse allows you to have a real-time interaction with the people around you or businesses (in case you are planning to purchase a product or service).
Why metaverse is important for a business?
Taking advantage of the online platforms is essential for any business today. Several studies are continuously indicating that the consumers are not only spensing their time on social media platforms like Facebook, Instagram, or Twitter but also on day-to-day activities like shopping, learning etc.
This implies that businesses need to gear up and help their customers get access to online products and services. Virtual world is the new trend that is changing the way of doing business for the companies.
Top 5 Business opportunities in the metaverse
1. E-commerce and retail
The biggest opportunities for businesses in the metaverse are E-commerce and retail shopping. The majority of the shopping trends have now gone to the online platform and people are loving to order everything from the comforts of their homes. So how does metaverse help? Metaverse helps you to eliminate the need of going to the physical store and try your clothes, decor, or maybe a pair of glasses, or footwear. With metaverse, you can simply browse through the virtual store and try your favorite products whenever and wherever you want.
2. Real estate
Dubai is a hub of world-class real estate services and the business niche is here to stay for a good time. Business setup in Dubai in the real estate in association with metaverse has boosted the chances for a much cheaper form of digital real estate services. This includes virtual tours when you are buying or renting commercial office spaces, or personal residences. Now, businesses can buy and sell easily using the metaverse platform.
3. Gaming technology
Gaming technology is in the number three spot on our list of top metaverse business niches. It is one of the most important sectors that are trending in the metaverse business. You must have seen how popular PUBG has grown over the years. Now imagine what if the gaming industry comes up with more games like these that are completely based on a real-time network! The industry is trending and moving at a very fast pace thus, allowing the companies to grow and increase their overall revenue.
4. Education and training
When the pandemic struck the world, it gave rise to the concept of online education and courses. Educators and students all over the world came together to take their learning to the online platform. It helps to greatly reduce the amount of time and traveling. You can simply buy the required modules online and start learning. This holds extreme importance for the upcoming businesses in the metaverse sector. The companies can grab this opportunity to take a step towards the metaverse.
5. Cryptocurrency exchange
If you are planning a cryptocurrency business in Dubai then this is the perfect time to get on board the metaverse. In the past few months several crypto giants have started their offices in Dubai.
The companies are applying for a cryptocurrency license in UAE to make the most out of the global trend of digital transactions. This has taken a major shift especially when the government launched VARA, a dedicated authority to look into the crypto exchanges in the country. We can see well-known companies like Binance, Crypto.com, Kraken, BitOasis, and many more.
Build a business in the metaverse with RadiantBiz
The future is metaverse and is here to stay for a long time! You can grow your company on a digital platform using virtual technologies without having the need to open a physical store everywhere. All of this is now achievable because of the metaverse, which gives you the freedom to establish a global company that caters to billions of people.
The metaverse companies in Dubai are trending and several companies are applying for the metaverse business setup. If you are also one of them, then RadiantBiz is the ideal choice for your business setup in Dubai. We are a trusted business setup consultant that can assist you in streamlining the entire procedure, from project initiation to license approvals from concerned authorities, and having a corporate bank account in the country for your business. Our team also assist you to acquire a cryptocurrency license in Dubai, if your business includes a cryptocurrency exchange setup. We are there for your every step of your business setup in the UAE.