Content Partnership*
There’s no doubt that data and technology are changing the world and playing an increasingly important role in business.
We’re going to look at three technologies driving the new digital frontier: the metaverse, artificial intelligence (A.I.), and blockchain. We’ll explore how they can be used in franchising, things to consider, and what future opportunities they hold. Read on if you’re curious about how data and technology are shaping the future of franchising.
Let’s start with the basics:
The metaverse: The metaverse is an evolution of the internet, where people can visit virtual locations/worlds and interact with other users in a completely immersive, realistic, and engaging 3D environment
Blockchain: A blockchain is a digital ledger of transactions maintained by a computer network. It’s decentralized (not controlled by any one entity), secure, transparent, and efficient – anyone can view the entire ledger at any time, and settlements can be made quickly without intermediaries
NFT: NFT or non-fungible token is a unique digital asset that is not interchangeable with other tokens of the same type. This makes them perfect for representing digital assets. Think of them as blockchain-based digital assets that cannot be replicated or copied
Artificial intelligence: Artificial intelligence is the process of programming a computer to make decisions for itself. The computer is taught how to learn and then given a problem to solve. It can analyze data, recognize patterns and make decisions accordingly.
Now that you understand the basics of the new digital frontier let’s explore what you need to know.
What is possible in the metaverse?
The metaverse is still in its early stages but growing quickly. Currently, hundreds of millions of users spend an average of 2.6 hours per day in the metaverse. According to Gartner, by 2026, 25 per cent of the world will spend at least one hour a day in the metaverse. That’s over two billion people.
The potential for the metaverse is limitless and evolving, but here are a few possibilities for franchises now.
Franchises can monetize the metaverse using NFTs and artificial intelligence. The metaverse offers the potential for frictionless commerce with a global audience, which will revolutionize how franchises operate. For example, a customer could purchase products or services from a franchise without ever having to leave the metaverse.
NFTs can be used to manage digital rights and royalties between franchisors and franchisees.
Another way is to use artificial intelligence to analyze user behavior and preferences to better target advertisements and content or create personalized avatars and metaverses. The ability to create unique and immersive experiences that cannot be replicated in the real world allows franchises to stand out from their competitors and attract more customers.
Franchises can use artificial intelligence to create digital avatars that can interact with customers on behalf of the franchise. These avatars can provide information about products or services, train employees, answer questions, and even process transactions.
Over time, the metaverse will evolve to a point where franchises will have the same level of immersion and customer engagement as traditional brick-andmortar establishments but with the added flexibility and affordability of the metaverse.
How to stay safe in this new space
There are always potential risks associated with any new technology. However, we believe that the risks posed by the metaverse, A.I. and blockchain are largely overstated and far outweighed by the potential benefits.
Here are a few things to consider when it comes to protecting your brand in the metaverse.
- Legal: The legal risks associated with virtual worlds such as intellectual property and fraud
- Liability: What happens if something goes wrong in the virtual world and damages or injures someone?
- Data protection: It’s important to ensure that data is protected from unauthorized access or use, data breaches, and theft of customer information or trade secrets.
As the technology evolves and matures, law firms like Akerman are developing legal frameworks to address this new digital frontier. Speak with your legal department to understand how best to address these concerns.
So, if you’re considering getting involved in the metaverse, we say go for it! Just be sure to do your research first and understand the risks involved.
Getting your bearings in the Metaverse
Here are the basics to getting started:
- Create your metaverse avatar: This can be anything from a 3D rendering of yourself to a cartoon character that will represent you in the metaverse
- Explore metaverse platforms: There are a variety of metaverses (Horizon Worlds, Roblox, Sandbox, Decentraland, and more) available today. Some metaverses focus on socializing and building relationships with other users, while others emphasize gaming or immersive experiences
- Start building: You can build anything from a simple storefront to an entire virtual world. If you’re not sure where to start, metaverse agencies like MetAiBlock can help you build, monetize, amplify, and scale your brand in the metaverse
- Get involved in the community: Online communities, such as Horizon World groups on Facebook, and in-person events, such as the MetAiBlock educational seminar at the MFV Comexposium franchise events
- The metaverse is still in its early days, but getting involved now will help shape your franchise brand’s future.
MetAiBlock is recognized as the first agency to use the metaverse, artificial intelligence, and blockchain to immerse brands into the new digital frontier.
MetAiBlock was founded by tech, data, and marketing experts Andre Kay and Charles Smart. Andre Kay, a pioneer in social media marketing, is the founder and CEO of Sociallybuzz. Founded in 2009, it is one of the first social media agencies to exist in the world. Charles Smart has over 20 years of experience as an entrepreneur, technology innovator, information management consultant, data strategist, and award-winning marketer.
The metaverse, artificial intelligence, and the blockchain are the next big frontier for technology, and it’s already starting to take off. If you’re looking for a way to get ahead of the curve, this is it. There’s no doubt that the metaverse will play a massive role in the future, and we’re excited to see what it has in store for us.
At a Glance MetAiBlock
Metaverse + Artificial Intelligence + Blockchain We build it. We monetize it. We amplify it. We scale it.
Contact: future@metaiblock.com metaiblock.com
