TradeZing CEO Jordan Edelson, sat down with InformationWeek to discuss the various ways businesses can find new opportunities within the metaverse.

The metaverse is defined as “a virtual-reality space in which users can interact with a computer-generated environment and other users.” For businesses this can be seen as another great touchpoint to interact with and gain the attention of their target audience.

According to a June report from McKinsey, the metaverse has the potential to generate up to $5 trillion in value by 2030, an opportunity it called “too big” for companies to simply ignore.

But before a business jumps into the metaverse, they must understand the type of virtual presence they want to establish with their customers.

“The business proposition is the type of virtual presence a company would like to create and how they want to interact with their consumer, whether it’s for informational or entertainment purposes,”

Jordan Edelson, CEO and co-founder of TradeZing

He explains that for the experience to be effective, a business needs to understand their consumer and how they can create a presence in an authentic way without forcing themselves on the user.

“A business always needs to understand the risks involved with any unchartered and undefined territory. An organization should consider costs associated with the metaverse along with the digital presence that they will gain with their consumers.”

Jordan Edelson, CEO and co-founder of TradeZing

Edelson compares it to the time when the initial web was created, when businesses weren’t familiar with the technology and were slow to adopt it.

“The metaverse is still a very new concept and businesses are experimenting with different features, so an organization needs to remain flexible and keep in mind that the technology is evolving. Eventually, once we pass the trial-and-error phase and the infrastructure is fully developed, we will see this sector grow and more companies will embrace the metaverse,”

Jordan Edelson, CEO and co-founder of TradeZing

To learn even more about the potential business opportunities and where your business can integrate into the metaverse, read the full article by InformationWeek here!