Metaverse is creating a terrific platform for all types of business, and that too with maximum results. The demand for the metaverse is increasing with time and a huge number of established businesses and startups have joined the metaverse platform.
Metaverse market size was about $47.48 billion USD in 2022 and is expected to grow by about $678.80 billion in the coming years with a growth rate of 39.44% CAGR.
There are multiple metaverse business ideas that businesspersons are adopting to generate a maximum amount of revenue from the platform. Providing metaverse as a service platform for users will not only help you to generate good revenue but also help you to make a global impact.
In this blog, you will learn about
Before starting with the blog, let’s see what the world’s most influential people have to say about the metaverse.
"Metaverse isn't a thing a company builds. It's the next chapter of the internet overall." Mark Zuckerberg
“The metaverse is here, and it’s not only transforming how we see the world but how we participate in it – from the factory floor to the meeting room.” Satya Nadella
“It is a massively scaled and interoperable network of real-time, rendered, 3D virtual worlds that can be experienced synchronously and persistently by an effectively unlimited number of users, each with an individual sense of presence.” Matthew Ball(Author)
"The metaverse is coming. Metaverse is not only a place to game. Future worlds will be photorealistic, obey the laws of physics, and be inhabited by human avatars and AI beings. We will create a future in these metaverses before actually downloading the blueprints to be fab’ed in the physical world.” Jensen Huang
The statements are enough to understand the scope of the metaverse-based business in the upcoming days.
If you are building a metaverse as a service platform, you are making a one-stop solution for almost all businesses. The service platform will be the solution for third parties in the world, like fashion brands, artists, creators, etc. It is something similar to the SaaS based metaverse platform where third-party businesses will join to explore the virtual world. This kind of platform will be like a virtual city.
Just like we have everything in a city in the same way the virtual city will have everything for the users. From fashion stores to hospitals, from clinics to schools and colleges, etc. Other brands will join the platform to set up their business in your virtual world.
Your metaverse platform will not just be limited to the store, but it will also have space for the events like concerts on the metaverse concert platform, art exhibitions, seminars, etc.
To get free of cost metaverse business consultation, you can get in touch with us. We can provide you with multiple metaverse business ideas to develop a metaverse service. We are available 24*7 to assist you with excellent ideas and metaverse development.
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As we said above, the metaverse platform has a huge scope for everyone and for every business. Let’s see which businesses have great potential to join the metaverse platform.
The healthcare market is one such business platform that generates great revenue from the market. The healthcare sector adapts to advanced technology more progressively. This sector especially has to be always on edge to add new technology to cure every disease and health issue at the earliest. Few of the healthcare sectors have already started implementing metaverse technology to serve patients globally and with more accuracy.
It could take up to 6-8 months for the development and up to $70,000-$160,00 to build the hospital in the metaverse. The development time and cost purely depend on the features, complexity, duration, size of the company, manpower involved in it, etc.
There are multiple other ways to make money from the MaaS-based platform. To learn in-depth about the MaaS platform, you can get in touch with our experts for consultation.
With a focus on using VR and the Metaverse to deepen and diversify education through interpersonal and immersive experiences, using technology to learn. Technology will engage students in fresh and original ways by allowing them to participate in real-time virtual classrooms with students from all around the world.
To enhance the learning experience for students, the Hong Kong University of Science and Technology is the first institution to advance by combining the metaverse with academic courses.
The development cost to build a school in the metaverse can be between $60,000-$150,00. And it can take time up to 6-8 months for the development.
The gaming industry has always been one such business idea that has excited the world. But there was only one thing that was lacking in the 2D gaming industry; only the gaming industry used to make money. But with the metaverse gaming platform, the users can also make money just by investing and playing on the platform. This advantage of making money from both ways is helping to generate a good number of users.
The metaverse development cost depends on various aspects. It includes the features you want in the metaverse gaming platform, the size of the company you are hiring, and the complexity of the metaverse gaming platform. The approximate cost to develop a metaverse gaming platform can be between 50,000 USD to 150,000 USD.
The metaverse event platform is one of the finest things to get for the metaverse as a service platform. It will be the place where you can allow multiple parties to organize events. The events could be of anything either marriage, concerts, seminars, art exhibitions, etc. The idea of a metaverse wedding platform is getting a good number of users to show their love with the latest and advanced technology.
On the other side, Travis Scott’s concert in the metaverse has been watched by 28 million users. Apart from him, many popular pop stars like Justin Biber, Snoop Dogg, etc have performed concerts in metaverse.
The approximate cost to build a metaverse event platform can be between $60,000-$120,000. Again most of the things depend on the features and technologies getting used in the development procedure, etc.
Dealing with clients on video calls sometimes creates a communication gap between both parties. The solution to this could be setting up a conference room or meeting in metaverse. With the help of the metaverse platform, you can be virtually present in the meeting with AR and VR with your clients. This will definitely save you & your client much time visiting one another place for the physical meetup,
The approximate cost to develop the meeting room of the conference room in metaverse will lie between $50,000 to $100,000. The conference room’s features, the complexity of the platform, manpower used in the development procedure, etc.
Social media has an expansion in the metaverse. It creates customized, engaging user experiences. Social media staples, including collaboration, commerce, live events, and immersive experiences based on virtual reality and augmented reality, will all be combined in Metaverse.
Metaverse social media networks have allowed users to create more content while giving the platform's operating companies complete data ownership. In this case, this has helped us develop into a better, more connected society while also posing questions about the privacy and confidentiality of user data.
Web 3.0's decentralized metaspaces are designed to deal with these problems. It not only makes ownerless peer-to-peer interactions possible, but it also offers a more individualized and immersive experience.
The metaverse social media platform development cost depends on the panels, features, complexity, software utilized to develop, etc. The approximate cost to develop it will cost between $75,000 to $150,000.
To get the complete information read our next blog: Top 8 Metaverse Business Ideas
The cost of the metaverse as a service platform development depends on various aspects, including the features, size of the company, duration of the project, manpower involved in the project development, the complexity of the metaverse platform, etc.
During the past 13 years, we have provided technology services. For the past six years, we have held the position of the top metaverse development company. RisingMax Inc. has developed multiple metaverse and blockchain-based platforms for international businesses and startups over the years and is currently working on over ten metaverse development projects.
We have a team of more than 150 passionate metaverse developers with more than ten years of combined expertise. High-end metaverse projects are being expertly managed by our experts, and additional blockchain-based initiatives are in the works.
Each of our clients receives individualized attention and regular project updates, thanks to the efforts of our management team. Since we are dedicated to both our work and our clients, we make sure that every project is delivered on schedule and without any mistakes.
We are a blockchain development company, but we also abide by the blockchain's fundamental principles. We are completely open and honest with our clients about their tasks.
To ensure that none of our clients encounter any difficulties either before or after the metaverse platform launch, we abide by all applicable international standards for business legislation.
We are a 5-star rated metaverse development company on the top research and review platforms.
For getting free consultation for metaverse platform development, you are most welcome. We are available 24*7 for your queries.
Here are some of the frequently asked questions for the metaverse as a service platform.
The answer to this question completely depends on the USP of what type of business you are building for the metaverse platform. But one thing is very much clear we can give a kind assurity that metaverse such a technology that in future it will boost each type of business.
There are multiple things that matter during the time of development. The outsourcing software, discussion about the project, developing business blueprint, creation of the platform, implementing blockchain, wallet development, etc.
This could take upto 6-8 months to develop a metaverse as a service platform. Given duration time also depends on the modification of the platform, if you are implementing anything new in between the development project then the project delivery time may also extend.
Each metaverse has its own economic system and market, where users can trade digital goods for cryptocurrencies.
Hence, a metaverse digital wallet is required to store this currency and maintain track of transaction history in a secure and open environment. These wallets are an essential instrument for administering ownership and management of digital assets (NFTs) in the metaverse.