Economic areas in the metaverse
Metaverse/ As economic development increased in humanity, many specialists began to evaluate economic activity in terms of different classes and characteristics. Currently, the vast majority divide the economic sectors into 5.
And if a country is developed or can have a few of each sector, then that country is considered to be in a good economic position. What if I told you that different the different metaverses already give possibility of development to multiple sectors and that the concept of the virtual world already surpasses in its economic possibilities many countries?
It may seem crazy, but we are not so far from that possibility, the metaverse has become a place of interest and, above all, lucrative. We will now tell you about the different economic sectors and their representation in the metaverse.
Clothing and Luxury in Metaverse
The so-called primary sector is by far the least represented, which includes companies that exploit the environment for resources. Mining, fishing and farming are the best known areas, and so far we are not aware of any companies in this field that have participated in the metaverse.
That said, it doesn’t sound very far from reality that they do it soon or that they are in the process of doing it, they just need to come up with a creative way to do it.
So let’s move on to the secondary sector. This includes artifact production, the textile and energy industry, among others. This sector has been represented in high-end clothing brands directly involved in the textile industry.
Zara, Gucci and Louis Vuitton are the most recognized representatives. But there are also Vans, Ralph Lauren and Dolce and Gabanna. The Spanish brand has chosen the Zepeto platform to join the metaverse. There, a collection for Ader Error`s brand has been launched and then, a collection made by virtual clothing that dressed the avatars of that world.
Gucci celebrated the brand’s 100th anniversary by launching the Gucci Garden in Roblox, a place where players could move through themed spaces and buy clothes for their avatars. In addition, he has plans for getting in The Sandbox.
Finally, Louis Vuitton created his own metaverse where we could explore different scenarios inspired by the history of the company’s creator.
The entertainment sectors
The tertiary sector includes transportation companies, vehicle companies, entertainment and finance, tourism and food distribution. Here we have some representatives such as Heineken, Carrefour, BMW, Spotify, Iomob and Amnesia Ibiza.
The well-known German car brand joined the NVIDIA platform to create in its metaverse a digital copy or replica of its car factory in Resenburg; Carrefour created in Fortnite a block called “The Healthy Map”, an in-game experience where players could regain health by eating fruits and vegetables. It also has plots in The Sandbox.
Spotify also has its space in Roblox and Amensia-Ibiza, a nightclub on the Spanish island, and one in Decentraland as well. So when it comes to entertainment, the Metaverse is not lacking.
Where there can be a debate is in the missing sectors. The quaternary and quinary sector does not exist for some analysts. Many point out that information technologies, scientific research, culture, education and the governments themselves are part of the tertiary sector. In any case, many of these companies have given way to the metaverse.
Not long ago we learned that the Generalitat de Catalunya, the Museu d’Història de Catalunya, among other institutes of culture (and related to politics) joined with other private companies to create CatVers, a metaverse dedicated to the preservation of Catalan culture.
And in 2021, the City of Seoul (South Korea) announced the creation of a metaverse called “Metaverse Seoul”. The idea was to offer a new concept of public service through digital worlds, seeking to extend the scope to areas of economy, culture and education.
As you can see, the metaverse already has technological sectors, services, entertainment, cyclical and non-cyclical, in case of risks and many other classifications. The virtual world has provided an alternative reality where many companies and individuals can develop and contribute to the community of the real world and the metaverse itself.