Competition burns ever brighter in Web3 as money and manpower continue to pour in. With the prospect of a future multi-trillion dollar industry on the minds of builders everywhere, the search for competitive advantage is relentless.
When it comes to building a large-scale metaverse platform, the stakes are higher than anywhere else in Web3.
The projects that achieve the most success will become some of the largest, most valuable organizations in the world among the ranks of Web2’s success stories like Facebook and Google.
To succeed as a metaverse platform, first impressions are key to capturing Web3 participants currently notorious for a short attention span and a tendency to quickly attack projects for their shortcomings.
To crush the first impression at launch and set the stage for long-term success, there are three key features that must be operating with all cylinders firing.
We’ve all heard the stereotype that Web3 games suck. They aren’t fun, the graphics aren’t great, etc. Predictably, gamers will make up a very high percentage of users on any metaverse platform and play a key role in global Web3 adoption. Catering to their needs is an absolute priority.
The inarguable best way to earn the support of gamers is very simple: provide world-class gaming experiences on your platform. Metaverse platforms will eventually be vast ecosystems filled with mini-games, quests, games developed by third parties, etc.
Imagine a virtual universe where you can play a supercar racing game, then jump over to a quest to find hidden treasure, and end your day with some FPS action on a world inhabited by alien monsters.
On a long enough time horizon, it’s inevitable that incredible games are present throughout the most prominent platforms, but let’s not downplay the importance of having some level of gaming at launch that can rival the AAA games of today.
It’s not reasonable to expect metaverse platforms to provide an abundant Ready Player One style gaming offering at launch, but having at least 2-3 AAA quality games with high replayability will result in a welcoming atmosphere for gamers to onboard to the platform and stick around.
We all want our beloved NFTs in the metaverse as 3D, playable avatars that serve as our virtual identity as we attend parties, charge into battle, and run businesses.
Through blockchain technology and interoperability standards, they will be able to be used across Web3 worlds and games seamlessly along with other NFTs like vehicles, weapons, and apparel.
As NFT interoperability is one of the core pillars of current Web3 participants’ future metaverse outlook, it’s entirely inconceivable to push the green go button to launch a metaverse platform before a respectable level of interoperability is ready to be experienced.
Personally, I think having between 25-50 third-party (meaning not created by the platform itself) PFP collections ready as avatars will be sufficient.
Achieving that will signal to all of Web3 that the platform is where NFTs come to life in a tangible way, and will immediately establish high demand from uninvolved projects looking to join.
Onboarding Web2 brands and creating a flourishing virtual economy is key to the long-term success of a metaverse platform. Today, shopping online is largely individual; you hop on a device, browse a website, and buy items.
In the metaverse, shopping will be an immersive, social experience and mirror the real world.
Shopping provides the opportunity to onboard the entire world to a metaverse platform. Today, over 2 billion people buy items online and that number continues to grow significantly each year.
Providing a compelling shopping experience for users at launch will indicate that the metaverse is more than just a video game, it’s something for the entire world to experience in a variety of ways.
If the launch day experience is truly something to write home about, it will open the floodgates to partnerships with the world’s best brands looking to establish themselves in the metaverse.
The more brands that establish virtual retail experiences on a platform, the more online traffic and revenue that will flow to it.
You only get one shot at a first impression, why rush it? To develop one of the world’s most prominent, valuable metaverse platforms, it’s all about creating a flourishing virtual economy within an immersive experience that captivates all who encounter it.
By providing world-class games, NFT integration, and shopping at launch, a metaverse platform will become the central focus of everyone in Web3 and give itself the best chance of achieving global prominence.
Fail to meet these requirements, and the consequence may be a hole too deep to climb out of.
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Disclaimer: This article is written purely for entertainment and educational purposes and should not be taken as financial advice in any way. Do your own research. If you are seeking financial advice, find a professional who is right for you.