MetaMinds Group CEO Sandra Helou is right to point out that the lack of a proper business model is one of the main reasons for the failure of metaverse projects. The metaverse is a constantly evolving virtual space, and companies that want to succeed in this space need to have a clear vision of how they are going to generate revenue.
There are several ways to generate income in the metaverse. Companies can charge users for access, virtual goods, services or advertising. However, it is important to find a business model that is sustainable and fits the company's vision for the metaverse.
Some examples of successful business models in the metaverse include:
🔸Access: Some companies charge users a monthly subscription to access the metaverse. This is a common business model for gaming and entertainment platforms.
🔸Virtual Goods: Businesses can sell virtual goods, such as clothing, accessories, and properties, to users. This is a common business model for games and fashion platforms.
🔸Services: Companies can offer services to users, such as education, healthcare, or financial services. This is a common business model for enterprise platforms.
🔸Advertising: Companies can sell advertising space in the metaverse. This is a common business model for entertainment platforms and social media platforms.
It is important to note that the metaverse is still in its early stages of development, and business models that are successful today may not be successful tomorrow. Companies that want to succeed in the metaverse need to be flexible and willing to adapt to changes.
Source: Cointelegraph
