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The first steps for entrepreneurs to start on the Metaverse

The first and most important step for entrepreneurs to start on the Metaverse and utilize its business potential is to thoroughly understand what the Metaverse is and to avoid falling into the trap of virtual reality and virtual lands. The Metaverse is not only VR, and it is not merely avatars walking and talking in virtual spaces. A simple way to put it is that the Metaverse is an ecosystem of technologies that includes VR,AR,XR,MR,AI,machine learning, and others.

Hasan Algarhy
View by Hasan Algarhy, Founder, Duverse
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Unleashing Entrepreneurial Opportunities in the Metaverse: a guide for Hospitality Industry

The metaverse, a shared virtual reality powered by advancements in virtual and augmented reality, blockchain, and Web3 technology, is rapidly gaining popularity and offering new business opportunities across various sectors, including hospitality.

Roberto Garavaglia
View by Roberto Garavaglia, Innovative Payments and blockchain Strategic Advisor, CloseToPay
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The Metaverse: Déjà vu of the internet hype in the late '90s

The media coverage surrounding the Metaverse has been -at best- mixed, with some portraying it as the logical evolution of the internet and others dismissing it as mere hype. This is nothing new. The media's relationship with emerging technologies has always been complicated, marked by a mix of skepticism, fascination, and, at times, hysteria. The parallels between the media coverage of the internet in the late '90s and early '00s and the Metaverse narrative of today are striking. In the late '90s, the internet was a new and unknown territory, and many people were skeptical about its potential. The media coverage of the internet was often negative, portraying it as a breeding ground for hackers, cybercriminals, and Chis Hansen catching predators. Terms like "cyberspace," "virtual reality," and "dot.com" were new and confusing to many, and the media struggled to explain what they meant.

Simone Puorto
View by Simone Puorto, Head of Emerging Trends and Strategic Innovation, Hospitality Net
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Get started in the Metaverse by maximizing utility for your customers (and potential customers)

The Metaverse can be thought of as the natural evolution of the internet, taking the online world to a new level of immersion and interactivity. It's a virtual world where people can connect, interact, and even transact with each other in a way that feels almost like the real world. And with the rise of virtual and augmented reality technology, the Metaverse is closer than ever to becoming a reality.

Luca Lupattelli
View by Luca Lupattelli, Digital Project Manager, Hexagon AB
Simone Puorto
By Simone Puorto
Expert Views (11)
Alex Ratto
Alex Ratto, Head of Business Development, Vault Hill

Dear reader, nobody knows exactly how the metaverse space will evolve. However, we know that technology is relentless in its progress, and that immersive technologies will likely keep being developed and pushed for mass adoption.

Adam Mogelonsky
Adam Mogelonsky, Partner, Hotel Mogel Consulting Limited

Hoteliers are already overworked as is with numerous other siloed systems in place, so adding yet another parallel, disconnected process isn't going to work. Hence, the first step to onboarding any metaverse technologies is to look at how the data will be piped, cleaned and structured within existing guest profile systems or CRMs as well as connected to current payment rails.

Vincent Somsen
Vincent Somsen, GAIN Advisor, GAIN - Growth Advisors International Network

The metaverse presents many opportunities for hoteliers. Kick off your journey by acquainting yourself with key concepts like virtual reality, augmented reality, and immersive guest experiences. Delve into the metaverse ecosystem, researching platforms, trends, and enterprises, while choosing your niche, be it virtual concierge services, digital amenities, or VR-driven F&B experiences.

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The Future of Hospitality and Travel: Unlocking the Potential of Blockchain Technology

You understand the value of maintaining your customers' happiness and satisfaction because you own or manage a hospitality or travel business. Nonetheless, standing out in the crowd might be challenging given the industry's intense competitiveness. Blockchain technology applications can help with that.

Vincent Somsen
View by Vincent Somsen, GAIN Advisor, GAIN - Growth Advisors International Network
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Revolutionizing the Travel and Hospitality Industry with Blockchain and NFTs

To understand how the Travel and Hospitality industry can benefit from blockchain, it is appropriate to focus on two fundamental points: immutability of the data written on the distributed ledger and programmability of the data itself. On a blockchain, the dispersion of the ledger is such as to guarantee to everybody, and in a transparent manner, the possibility of verifying the validity of a transaction from its origins and to ensure that once it has been approved in a blockchain, it can no longer be disallowed. 

Roberto Garavaglia
View by Roberto Garavaglia, Innovative Payments and blockchain Strategic Advisor, CloseToPay
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Tokenized inventory model for Hotel Distribution and Pricing Control

Let me be candid and am sure most here would agree - Hotels are sheer laggards when it comes to technology. They were the leaders decades back, but since then, hotel-technologists entrenched themselves in tech solutions which were on-premise and mammothian. Only now they are looking towards on-cloud solutions(hesitantly, due to the heavy legacy). 

This happened with the banks in early 2000s, and happened with Consumer goods and Retail industries in the 2010s. Each of their business heads said, "Technology is not our business, let the CTO take care of it. We are in the business of Money, or customer service, or distribution, or sales." All of them had to pivot and respond to the digital savvy new entrants. Technology has been seen as an enabler by the Hospitliaty industry. Thats Wrong. Its a value creator. 

Arul Prakash
View by Arul Prakash, CEO, Buk Technology
Simone Puorto
By Simone Puorto
Expert Views (13)
Adam Mogelonsky
Adam Mogelonsky, Partner, Hotel Mogel Consulting Limited

Blockchain technologies have to take a backseat right now because, with 2023 as a rebuilding year filled with uncertainty, there are just so many other technology and organizational issues for hotels to tackle that take priority.

Eli Strzelecka
Eli Strzelecka, Co-Founder, Conspicuis

I am particularly interested in the marketing and branding side of how blockchain can help the hospitality industry. Blockchain users are a very tight, large, and financially powerful community of people from around the world, that usually does incredible amounts of travelling.

Arul Prakash
Arul Prakash, CEO, Buk Technology

Blockchain technology presents a "leapfrog moment" for the hospitality industry, allowing hotels to jump to the next stage of tech solutions and bypass intermediate stages. Hotels have been slow to adopt new technology, but blockchain offers the opportunity to create value by restructuring distribution, controlling pricing and increasing loyalty.

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