NFTs in the Corporate Metaverse

01/04/2023

How to Metaverse
Blog

Are you looking for an explanation of practical use cases for NFTs? Are you wondering how your company can make its own entry into the metaverse? In this blog, we explain the benefits businesses gain by integrating NFTs and the metaverse - for their employees and customers alike.

NFTs, or non-fungible tokens, are certainly generating a lot of hype, with an increasing awareness and understanding of what exactly an NFT is. But while NFTs may be gaining wider mainstream acceptance, most of the time they only make headlines for attention-grabbing valuations or celebrity endorsements. The practical uses of NFTs, especially in the corporate world, are less commonly addressed.

NFTs in a business environment

Growth in the NFT market is being driven by the diversity of trading options associated with NFTs. Tweets, memes, music, digital artwork, and virtual clothing are just some of the better-known NFT assets that can be created and traded.

The emergence of themetaverse has increased the attention around NFTs. Depending on the particular metaverse an individual is inhabiting, cryptocurrencies could be used to purchase NFTs in the form of digital tickets that grant access to virtual art showrooms, exclusive e-games, or unique clothing for avatars. NFTs could even potentially be carried over from one metaverse to the next.

What are the different types of NFTs?

Art-NFTs: Authenticity verification for digital artworks
Collectible-NFTs: Being part of a community
Utility-NFTs: Reward systems, proof of ownership, proof of attendance & more

Using NFTs in rooom’s metaverse

At rooom, we are already exploring a host of possibilities where NFTs and the metaverse overlap within a corporate environment. Using blockchain technology to guarantee ownership, NFTs could be bought, edited, used, and sold to enhance a wide range of digital experiences.

In the business world, it’s possible to make NFTs and the metaverse part of customers’ and employees’ everyday experiences.

Manufacturers can create digital twins for their products in the metaverse and use NFTs to safeguard or transfer patent ownership.
Educators can use NFTs to reduce the likelihood of diploma forgery.
Creators and artists can generate new revenue chances to sell their artworks.
And e-commerce companies can utilize branded virtual showrooms and 3D product visualizations with unique tickets provided in the form of - you guessed it - NFTs.

What is the metaverse?

In truth, there is no such thing as “the metaverse,” instead it is more likely that there will be multiple metaverses, each containing its own NFTs and cryptocurrencies to facilitate transactions.

As a fully immersive virtual world, each individual metaverse can either simulate the real, physical world or simply any type of world that is possible to imagine. Through the use of virtual or augmented reality technology, a metaverse can be employed to share stories and build connections in a more engaging way, with NFT-based tokens providing an additional layer of authenticity.

Whether it’s for gaming, fashion, events, or any other business sector, the use of NFTs (complete with images, videos, and sound) can help deliver a level of customization that simply wouldn't otherwise be possible in the metaverse. With NFTs, new sales opportunities and enhanced digital experiences are possible in the metaverse.

NFT corporate use cases

With rooom’s Enterprise Metaverse Solutions, we provide the perfect toolset to democratize the metaverse, engage audiences, and boost workplace collaboration. We are working on a number of solutions that enhance our product portfolio using NFT technology. Thanks to the flexibility of the rooom platform architecture, it is easy to integrate different NFT features into our existing applications.

The technology behind NFTs

We are making NFT integrations happen by implementing content verification via blockchain, establishing a holistic and strategic blockchain infrastructure, that includes:

Databases
Wallets
Automations
API

We’ve compiled a list of the exciting possibilities that NFTs can unlock when combined with rooom’s solutions:

NFTs for real estate & education

With rooomSpaces, you can create your own 3D space to showcase products, real estate assets, smart learning environments, and more. NFTs can then be used to provide access and offer rewards within the virtual space, for example through virtual treasure hunts. Avatars can be individualized as NFT characters. Even digital assets like land or buildings within the rooom metaverses, or commercials on digital billboards could be tradeable through NFT technology.

NFTs for product manufacturers & e-commerce

You can present your products online more vividly than ever before with rooomProducts, creating interactive 3D product models that can revolutionize your e-commerce and marketing channels. NFTs can guarantee proof of ownership for the 3D objects you offer. We are working on making the direct creation of NFTs in rooomProducts possible.

NFTs for the event industry

Virtual and hybrid events are gaining popularity, whether they are for trade shows, careers fairs, or any other type of corporate function. But how can you generate proof of attendance, ticketing, or certification? Using NFTs, of course! With NFTs and the rooomEvents solution, you can host a customizable digital event, with all the reliability and authentication of an in-person event. Access permissions as well as digital merch can be managed via wallets and tokens.

NFTs for culture & arts

Our Augmented Reality technology brings content to life, for example in tourism, culture, print media, or art projects. rooomImmersions offers new possibilities to enhance physical artworks with AR and NFT technology. They also offer completely new revenue structures for artists and creators.

"The cooperation with rooom enabled us to take an existing format to a new level of brilliance. The combination of digital & physical experiences has created completely new opportunities."

Eduard Dehgraf | CEO CREAT3

The conclusion - Delivering greater immersion

With the right tools you can create a metaverse for marketing, tourism, smart learning, or any other purposes. With NFTs you can take immersion to the next level by facilitating the creation of avatars, merchandise, artworks, and more.

By integrating NFTs within the rooom metaverses, we believe these unique tokens can create a host of unforeseen opportunities for our corporate customers and provide a variety of innovative purchasing options. From digital rewards to avatar accessories, NFTs are far more than a passing fad. A whole range of possibilities are being explored within our metaverse solutions.

Working with rooom’s Enterprise Metaverse Solutions, NFTs can be integrated into your corporate metaverse to take digital immersion to the next level. To find out how NFTs can unlock new opportunities for boosting revenue and improving customer and employee engagement, get in touch with our team today.

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