What is the B2B business metaverse and how much does such a metaverse cost?

A business metaverse is a virtual space used for business purposes. It is a type of virtual world that allows companies and organizations to present and sell their products, services and brands in an interactive and immersive way.

Business meetings in the metaverse – Image: Xpert.Digital / Supamotionstock.com|Shutterstock.com

A business metaverse can take various forms, from virtual trade fairs and conferences to online shops and interactive advertising campaigns. A business metaverse can also be a platform for collaboration and teamwork by allowing a company's employees to work together on projects and communicate in a virtual environment.

A business metaverse can be used by companies of all sizes, from small start-ups to large multinational corporations. It offers the opportunity to achieve global reach and target audiences around the world without the need for a physical presence.

An example of a business metaverse is Second Life, a virtual world that allows companies to create virtual stores and exhibitions and showcase their products and services. There are also specialized business metaverse platforms that specialize in organizing virtual trade fairs and conferences.

When it comes to the Metaverse, not everything that glitters is gold. Here are a few points you should know:

• Mechanical Engineering & Industry – Opinion & Criticism about Metaverse – Risky, pointless & dangerous for companies

A metaverse as a meeting point for infinitely networked virtual communities - Image: Xpert.Digital / Shoaib_Mughal|Shutterstock.com

A B2B Metaverse is a virtual space created specifically for business purposes between companies. It is a type of virtual world that allows B2B companies to network, communicate and collaborate in an interactive and immersive way.

The B2B Metaverse with expanded possibilities – Image: Xpert.Digital / Supamotionstock.com|Shutterstock.com

A B2B metaverse can take various forms, from virtual conferences and workshops to online platforms for business-to-business commerce and collaboration. It provides an environment where B2B companies can get to know each other, exchange ideas, build partnerships and close deals without having to be physically in one place.

A B2B metaverse can also offer various features specifically tailored to the needs of B2B companies. This includes features such as virtual showrooms and exhibitions to showcase products and services, virtual negotiation rooms to arrange business deals, and virtual training and classrooms to impart expertise and skills.

An example of a B2B Metaverse is a platform that specializes in collaboration between companies and designers. There, companies can create virtual spaces where they can collaborate with designers and design and manufacture their products.

Overall, a B2B Metaverse provides an innovative and effective way for companies to communicate and collaborate with each other to promote and grow their business.

The cost of developing and operating a Metaverse depends on various factors, such as the complexity of the Metaverse, the number of users, the type of features provided, and the quality of graphics and technology.

Some of the main costs of developing a metaverse can be:

• Software Development Costs: The cost of developing robust and scalable software for the Metaverse can be very high as it forms the basis for the entire virtual world.
• Server Cost: A Metaverse requires a powerful server infrastructure to provide users with a smooth and immersive experience. This can mean high costs for purchasing, maintaining and updating servers.
• Graphics and Technology Costs: A Metaverse requires high-quality graphics and technology to provide an immersive experience. The cost of developing and implementing this technology can also be high.
• Personnel and operational costs: A metaverse requires a dedicated team of developers, artists, engineers, community managers, and other employees to run it. The costs of staff recruitment, training and compensation, as well as operational costs such as rent, electricity and insurance, can be significant.
• Marketing Costs: To attract users and spread the word about the metaverse, marketing costs must also be taken into account. This can include the costs of online and offline advertising, influencer marketing and public relations.

It is difficult to give an accurate estimate of the cost of a metaverse as it depends on various factors and can vary from project to project. However, some estimates suggest that developing a comprehensive and scalable metaverse could cost millions to billions of dollars.

However, the situation is different when using software from providers that have already been successfully used for the visualization of 3D / CAD demos, e.g. B. for product presentation at trade fairs via touch tables , smartphones or tablets. Prices start at €250/month. The possible uses are almost limitless.

Extended reality in mechanical engineering: VR simulator for construction machines & excavators with virtual reality - Image: Xpert.Digital

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• Extended Reality in Mechanical Engineering: Komatsu Simulator for Construction Machinery & Excavators with Virtual Reality of XR Technology in the Metaverse