The Metaverse Can’t be Built on The corporate Business Model
The Metaverse would be led by the younger generation and cannot be built on the same principles of the corporate business model. Many of these young firms have proven themselves with valuable products and revenues of millions of dollars. The younger generation is currently driving the industry and explained. We clearly are focusing heavily on understanding sort of the younger generations and also down to the fact that younger generations are building several key elements of this landscape.
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Talking about innovation, the age-old corporate business model won’t succeed in the Metaverse, and corporates and tech giants have to think beyond the existing mindset. It's not that easy necessarily to apply a traditional corporate mindset business model structure in this one.
Talk about the nonfungible token (NFT) as the most famous currency on Metaverse, we necessary established brands to experiment. Established brands didn’t focus on community building and just jumped on the trend, which sort of backfired.
GAP, for example, the UK clothing company suddenly launched an NFT collection out of the blue by having some golden sweaters, while they hadn't spent any time on building any community, as far as what I notice from Twitter, people were thinking. The younger generations would set the trend in the Metaverse and older generations have to sit back and take note.
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