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.

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