Since launching in January 2017, Hyperbox has become one of the most popular metaverse platforms online. Boasting a community of more than 6,000 users and hosting more than 1,500 avatars at any given time, Hyperbox is quickly becoming one of the biggest meeting places in virtual reality. It’s not hard to see why it’s getting so much attention; the platform features beautiful environments with high-quality user interactions that feel almost real in comparison to some other metaverse platforms currently on the market.
The four pillars of startups
In his seminal work on startups, The Four Steps to the Epiphany, Steve Blank states that a company needs four things for success: good people, customers, revenue, and profits. If you are just starting out with Hyperbox then you need just one of these things for now: Good People. That is because without them (or without someone who knows how to build good people) you have nothing. They are your support system. They make all of this possible. You will always be indebted to them and all they’ve done for you even if they were never paid or compensated in any way other than having an amazing place to work where they were free to express themselves creatively while building something truly groundbreaking.
How startups can make money in the Metaverse
The concept of spending, trading, and earning currencies other than bitcoin and paying for items that are not physical is a very new idea. The use of digital items has been increasing, but only a small portion of society accepts them as currencies. However, there is still hope for companies and startups looking to make it big in the metaverse with digital items. There are two ways that startups can start their business inside the Metaverse: by designing an application or creating a service. Designing an application may allow for more security around digital items because you can protect your virtual goods from being stolen by different mechanisms such as playing games or having users log on whenever they want to purchase something on your website.
The business model
A great example of a success story would be Hyperkit, one of the first companies that launched on this platform. They have been able to learn what works and what doesn’t. With over three hundred apps available on the market today, it’s clear that there is potential for many innovative startups with unique ideas. It all boils down to connecting with an audience of like-minded individuals and giving them an experience they cannot find anywhere else. Once you’ve found success, do your best to keep innovating and building your brand by providing new content regularly. This will ensure that your customers continue coming back time after time while simultaneously attracting new audiences as well!
Scenario 1: Selling B2B software
If you’re trying to make money with a B2B software, then you’re going to need to find customers. Selling products in the form of virtual objects and setting up revenue streams such as monthly subscriptions are popular ways that others have succeeded. One way for those selling B2B software might be to create business game centers where professionals come together on a regular basis. This idea could also apply if there is an online business training service where professionals could pay for their employees’ access or receive a license themselves and then offer their own professional services as a kind of sideline from inside the game center.
Scenario 2: Selling virtual items and services
Currently, there are not a lot of virtual items and services that you can buy inside the Metaverse. Outside of a few educational programs and apps, it is mainly just an immersive platform for hanging out with friends. However, as more and more people join these kinds of social media platforms, there will be even more demand for digital assets like Instagram filters or Snapchat emojis. Selling virtual goods on these sites could be a great way to make a profit!
Scenario 3: Selling game mechanics as plugins
Gone are the days of static MMOs, but what are you supposed to do if you have a great idea for game mechanics that won’t work without some sort of RPG-like world? Enter Hyperbox, a system that takes care of world building and other complexity. Plugins provide everything else your game needs to run. Yes, there is no limit to what you can make (provided it’s not libelous) and how much you can charge for it.
Your customers will be thrilled by two critical things about this system: variety and affordability. Never before has there been an opportunity where small developers could use their creativity as leverage against large producers because players no longer need to pay $50-$100 just to start playing something new.
Incubate with Us- Metaworks Holdings
Metaworks Holdings is an incubation company formed to create new, foundationally stable, scalable business units primarily focused on modeling existing, successful, traditional, and/or progressive recurring revenue streams existing within existing and new Metaverse.
The ultimate goal is for each business unit to raise money independently and provide best-in-class products or services in each of their respective industries. Additionally, all units incubated under Metaworks will be able to get added benefits from the other businesses’ goods or services in our ecosystem. Find out more: metaworksholdings.com.