Want to know how to sell virtual products?
If you're like me, you're super intrigued by the hooplah surrounding NFTs, crypto-markets, and meme-stocks. You understand that there are opportunities out there, but you don't really know enough to figure out how to leverage them. This new piece from Threekit's founder Ben Houston, "Virtual Products and NFTs in the Metaverse," is a super helpful overview, offering practical insights for businesses who want to learn how to sell virtual products and make their mark in this space.
Here's a great excerpt from the piece, outlining one of the opportunities smart businesses will move quickly to leverage in this emergent space.
Selling Virtual ProductsA virtual product is an exclusively digital representation of a product. It may be a virtual representation of a real product or it may be a product that only exists in the virtual realm. While these products may not be “real” in the way we traditionally consider commodities to be, they are plenty real enough for real people to be spending real money on them.
For many companies, the applications for virtual products might be obvious. It’s easy to imagine someone buying a virtual high-end Ferrari to get an edge in a virtual racing simulator. Someone wearing an expensive suit in a virtual environment gains a similar benefit to wearing one in real life.
It’s less easy to imagine how a company like Taco Bell might leverage virtual products. There are certain benefits to a Chalupa Supreme that don’t seem to easily translate into a virtual environment. That didn’t stop them from creating and selling tens of thousands of dollars in virtual products in the last month.
The message is simple. If you make and sell products in the real world, there’s probably a way to make and sell those products in virtual environments. And as we progress toward an immersive multiverse, the value of those products will only increase.
And with that, Ben's just getting started. He goes on to explain how virtual products and NFTs can help businesses gain audience share in key demos and protect their valuable IP. The applications, just like these virtual worlds, are essentially boundless.
If you'd like help digitizing your products to help leverage them in virtual spaces, Threekit's scalable product visualization platform stands ready to help. Drop us a line and we'll help you take the metaverse by storm.