Navigating the Metaverse

Chapter 6Key Segments of NFT Commercialization

We've looked at why the metaverse is an exciting place for brands and consumers. And the business model examples hopefully give you a feel for the commercial potential waiting in the metaverse. There are many avenues to explore. New decentralized apps crop up seemingly by the day and venture capitalists are signing huge checks to fund metaverse projects. Then there are mega tech brands like Epic Games, Meta, Amazon, Microsoft, Apple, and others developing their metaverse plans. All the buzz makes it hard for many companies to select the right metaverse channels and partners.

Just like choosing a location for a new warehouse or a city for a store, where you open up shop in the metaverse is an important strategic decision. It determines which consumers you reach, influences product development, narrows the field of dApp partners, and places your brand in an ecosystem that may have its own culture, rules, goals, and market potential.

To offer adequate guidance, we want to narrow the focus to NFT commercialization. This is an area where there has been enormous activity, which gives us just cause for taking a good look at what businesses are doing and how this part of the metaverse economy works. Accordingly, because NFTs are such a major commercial force in today's metaverse economy, it's important to understand the different types of channels out there.

As we demonstrated earlier in the book, we broke this down into four quadrants ...