Alright, let’s talk business. You’ve read about the glorious metaverse future. You’ve seen the headlines about Nike making millions on virtual sneakers and Gucci selling digital handbags for more than physical ones. Your CEO just came back from a conference where everyone was talking about Web3, and now they’re asking: “What’s our metaverse strategy?”
Don’t panic. Take a breath. Let’s figure this out together.
Because here’s the truth: most companies that rushed into the metaverse between 2021-2023 either wasted millions or learned expensive lessons. But some—like Nike, Gucci, and a few others—actually figured it out. Let’s break down how to be in the second group.
Step 1: Stop. Just… Stop.
Before you do ANYTHING, answer this question honestly:
WHY do you want to be in the metaverse?
If your answer is “because everyone else is” or “the CEO read an article” or “we don’t want to miss out,” STOP RIGHT THERE. That’s how you waste money.
The companies that succeeded had clear, specific business objectives. Let’s look at real examples:
Nike’s Goal: Reach Gen Z where they already hang out (gaming platforms), create new revenue streams through digital goods, and build brand loyalty through interactive experiences.
Result: Nikeland on Roblox received 31.5 million visits from 224 countries. Their NFT sneakers sold out in 6 minutes, generating $3.1 million. Their RTFKT acquisition created ongoing revenue from digital collectibles.
Gucci’s Goal: Position as an innovation leader, tap into younger demographics, create high-margin digital products with no manufacturing or shipping costs.
Result: Gucci Garden on Roblox got 19 million visits. Virtual Gucci handbag sold for $4,000—$700 more than the physical version. 20% increase in online engagement.
The Lesson: Define what success looks like BEFORE you start building. Is it:
- Revenue from virtual goods?
- Brand awareness among younger demographics?
- Customer engagement metrics?
- Lead generation?
- Cost savings through virtual training/meetings?
- Innovation signaling to investors?
Be specific. “Explore the metaverse” is not a goal. “Generate $500K in virtual product sales within 12 months” is a goal.
Step 2: Understand the Three Business Model Types
Based on comprehensive analysis of 101 metaverse business use cases, companies are using three primary approaches:
Type 1: New Product and Service Offerings
What it is: Creating and selling virtual goods or services
Who it’s for: Consumer brands, entertainment, fashion, gaming
Examples:
- Nike: Virtual sneakers, avatar clothing, NFT collectibles
- Gucci: Digital fashion items, virtual accessories, limited-edition NFTs
- Forever 21: Virtual outfits for avatars on Roblox
ROI Reality: Successful projects achieve 200-400% ROI within 18 months. But “successful” is doing a lot of work in that sentence. Many fail completely.
Cost Range:
- Small pilot: $10,000-$30,000
- Medium project: $50,000-$120,000
- Enterprise solution: $200,000+
Decision Framework: Ask yourself: Do my customers already use their money to customize digital avatars or buy virtual goods? If yes, this might work. If no, you’ll need to educate your market first (expensive and slow).
Type 2: Enhanced Customer Experience
What it is: Using virtual spaces to engage customers in new ways
Who it’s for: Retail, automotive, real estate, tourism
Examples:
- Ralph Lauren: Virtual fashion shows on Zepeto and Fortnite
- Mercedes-Benz: Virtual showrooms where customers can explore car models
- Samsung: Virtual stores that mirror physical shopping experiences
ROI Reality: Fortune 500 retailers can improve margins by up to 2% through better staff training and customer engagement in metaverse experiences.
Value Metrics:
- Increased engagement time (customers spend 4x longer in virtual experiences vs. websites)
- Higher conversion rates (4.3% vs. 2% for traditional digital advertising)
- Reduced return rates (virtual try-ons improve purchase confidence)
Decision Framework: Does your product benefit from 3D visualization or interactive exploration? Can virtual experiences solve real customer pain points (like seeing how furniture fits in their home)? If yes, explore this.
Type 3: Optimized Internal Processes
What it is: Using metaverse technology to improve how your company operates
Who it’s for: Manufacturing, logistics, training, remote work
Examples:
- Port of Rotterdam: Creating a digital twin to manage global supply chains in real-time
- BMW: Using virtual factory twins to optimize production lines before vehicle launches
- Fortune 500 Retailer: Virtual training that reduced onboarding time and increased customer service quality
ROI Reality: This is where the real money is. Companies see measurable cost savings and efficiency gains.
Value Creation:
- Reduced training costs (virtual training is faster and scales infinitely)
- Lower error rates (test changes in virtual environments first)
- Better collaboration (distributed teams work together in immersive spaces)
- Supply chain optimization (real-time operational replicas)
Decision Framework: Do you have expensive physical processes that could be simulated? Do you need to train people on complex tasks? Do you have distributed teams struggling with remote collaboration? If yes, START HERE. This has the clearest ROI.
Step 3: Choose Your Platform(s) Strategically
Here’s where companies often screw up: they pick platforms based on hype rather than where their customers actually are. Let’s fix that.
Platform Selection Matrix
If your target is Gen Z and younger millennials: → Roblox (190 million monthly users, younger demographic, easy creation tools)
- Best for: Consumer brands, fashion, gaming-adjacent businesses
- Examples: Nike’s Nikeland, Gucci Garden, Forever 21
- Entry cost: Medium ($50K-$150K for quality experience)
If you want blockchain/NFT integration: → Decentraland or The Sandbox (330,000 and 300,000 monthly users respectively)
- Best for: Digital collectibles, virtual real estate, crypto-native brands
- Examples: Gucci Vault Land, Samsung virtual stores
- Entry cost: Medium to High ($75K-$250K)
If you’re targeting families and broader audiences: → Minecraft (Massive user base, multi-generational appeal)
- Best for: Education, family brands, entertainment
- Entry cost: Low to Medium ($20K-$100K)
If you want social VR for events/meetings: → Meta Horizon Worlds or VRChat (Despite Meta’s struggles, still relevant for specific use cases)
- Best for: Virtual events, meetings, social spaces
- Entry cost: Low to Medium ($15K-$80K)
If you’re a B2B company: → Custom solutions or enterprise platforms (Microsoft Mesh, proprietary systems)
- Best for: Training, collaboration, digital twins
- Entry cost: High ($150K-$500K+)
Critical Question: Where do YOUR specific customers already spend time? Don’t build on Decentraland if your customers are on Roblox. Don’t build on Roblox if you’re selling enterprise software.
Step 4: The 8-Phase Implementation Plan
Based on analysis of successful deployments, here’s the proven roadmap:
Phase 1: Discovery and Strategy (1-2 months)
Actions:
- Define clear, measurable business objectives
- Identify your target audience and where they are
- Research competitors’ metaverse presences
- Determine budget and resources
- Decide: Activation vs. Destination model
Activation Model: One-time experiences or campaigns (lower cost, shorter engagement) Destination Model: Persistent space customers return to (higher cost, deeper engagement)
Budget Allocation:
- Strategy and planning: 10-15% of total budget
- Don’t skip this phase to save money. It’s the cheapest insurance policy you’ll ever buy.
Phase 2: Platform Selection and Partnership (2-4 weeks)
Actions:
- Evaluate platforms against your target audience
- Assess technical requirements and accessibility
- Review platform restrictions and capabilities
- Consider interoperability needs
- Select development partners or internal teams
Partnership Options:
- Platform-native creators (often cheaper, understand the ecosystem)
- Specialized metaverse agencies (more expensive, more polish)
- In-house development (highest initial investment, lowest ongoing cost)
Red Flags:
- Agencies that promise “build it and they will come”
- Partners with no verifiable portfolio
- Platforms requiring massive upfront land purchases
Phase 3: Design and Concept Development (1-3 months)
Actions:
- Create detailed experience design
- Develop brand identity for virtual spaces
- Plan user journey and interactions
- Design avatars, assets, and environments
- Prototype key features
Design Principles That Actually Work:
- Intuitive navigation: Users shouldn’t need a tutorial to move around
- Clear value proposition: Why should someone spend time here?
- Progressive disclosure: Don’t overwhelm with features upfront
- Mobile accessibility: Many platforms work on phones, optimize for it
- Social elements: People come for content, stay for community
Budget Allocation: 20-30% of total budget
Phase 4: Development and Testing (2-6 months)
Actions:
- Build the virtual experience
- Integrate necessary technologies (blockchain, payments, analytics)
- Conduct internal testing
- Run beta tests with select users
- Iterate based on feedback
Technical Considerations:
- Performance optimization: Experiences must run smoothly on target devices
- Scalability: Can it handle expected traffic?
- Security: Especially for transactions and user data
- Analytics integration: You’ll need data to measure success
Budget Allocation: 40-50% of total budget
Phase 5: Community Building (Start 2-3 months before launch)
Actions:
- Build awareness on social media
- Create exclusive pre-launch access
- Develop community guidelines
- Recruit brand ambassadors/influencers
- Plan launch event
Critical Insight: The metaverse is SOCIAL. An empty virtual space is sad. You need people there. Start building your community BEFORE launch, not after.
Community Strategies That Work:
- Exclusive access for early adopters
- Collaboration with existing metaverse influencers
- Cross-promotion with complementary brands
- User-generated content encouragement
- Regular events and updates
Budget Allocation: 10-15% of total budget
Phase 6: Launch and Activation (1-3 months)
Actions:
- Coordinate multi-channel launch campaign
- Host opening events
- Monitor performance and user feedback
- Provide community support
- Address technical issues quickly
Launch Best Practices:
- Soft launch first: Test with smaller audience before going big
- Have moderators: Virtual spaces need active moderation
- Be present: Company representatives should be in-world regularly
- Respond quickly: Address bugs and feedback immediately
- Document everything: You’ll want to know what worked
Budget Allocation: 10-15% of total budget
Phase 7: Operation and Optimization (Ongoing)
Actions:
- Regular content updates
- Community management and moderation
- Performance monitoring and optimization
- Feature additions based on user feedback
- Continuous improvement
Ongoing Costs (Annual):
- Community management: $30K-$150K
- Content updates: $50K-$200K
- Platform fees: Variable
- Hosting/technical maintenance: $20K-$100K
Success Metrics to Track:
- User Acquisition Cost (UAC)
- Monthly Active Users (MAU)
- Average Session Duration
- Return Visit Rate
- Conversion Rate (virtual to physical purchases if applicable)
- Customer Lifetime Value (CLV)
- Engagement Rate
- Brand Awareness Lift
Budget Allocation: 10-20% of initial budget annually
Phase 8: Evaluation and Evolution (Quarterly Reviews)
Actions:
- Analyze KPIs against original objectives
- Calculate ROI
- Gather user feedback systematically
- Identify improvement opportunities
- Decide: Expand, maintain, or pivot?
Key Questions:
- Are we meeting our defined objectives?
- What’s our actual ROI vs. projected?
- What are users telling us?
- What should we do differently?
- Should we expand to other platforms?
Step 5: The Reality Check – Common Mistakes to Avoid
Let’s talk about what NOT to do, based on expensive lessons from companies who went first:
Mistake #1: Technology Before Strategy
What it looks like: “We need to be in the metaverse, figure out what to build.”
Why it’s deadly: You end up with an expensive virtual space nobody visits.
The Fix: Define business objectives first, then find the right technology to achieve them.
Mistake #2: Building in Isolation
What it looks like: Creating elaborate virtual experiences without community input or beta testing.
Why it’s deadly: What you think is cool and what users want are often very different.
The Fix: Involve your community early. Beta test. Iterate based on feedback.
Mistake #3: One-and-Done Launches
What it looks like: Big expensive launch, then minimal updates or support.
Why it’s deadly: Virtual spaces are living ecosystems. They die without ongoing engagement.
The Fix: Budget for ongoing operations from day one. Treat it like a long-term commitment.
Mistake #4: Ignoring Platform Limitations
What it looks like: Designing experiences that don’t work well on the target platform.
Why it’s deadly: Users get frustrated and leave.
The Fix: Understand platform constraints before design. Work with platform experts.
Mistake #5: Underestimating Development Costs
What it looks like: “How hard can it be? It’s just virtual.”
Why it’s deadly: Quality metaverse experiences are expensive. Cheap ones look cheap.
The Fix: Budget realistically. Small pilots cost $10K-$30K. Quality experiences cost $50K-$250K. Enterprise solutions cost more.
Mistake #6: No Clear Monetization Plan
What it looks like: “We’ll figure out how to make money later.”
Why it’s deadly: Later often means never.
The Fix: Know how you’ll monetize BEFORE you build. Options include:
- Direct sales of virtual goods
- NFT sales with royalties
- Subscriptions or memberships
- Brand partnerships and advertising
- Virtual events with ticketing
- Premium experiences
- Physical product sales driven by virtual experiences
Mistake #7: Ignoring Interoperability
What it looks like: Building everything proprietary with no thought to standards.
Why it’s deadly: Your assets and users get locked into one platform.
The Fix: Use standard formats where possible. Plan for multi-platform presence eventually.
Mistake #8: Forgetting About Accessibility
What it looks like: VR-only experiences that exclude people without headsets.
Why it’s deadly: You limit your audience unnecessarily.
The Fix: Make experiences accessible on multiple devices (VR, desktop, mobile). Don’t require expensive hardware unless absolutely necessary.
Step 6: Industry-Specific Strategies
Different industries have different opportunities. Here’s the breakdown:
Retail and E-Commerce
Primary Opportunities:
- Virtual try-ons and product visualization
- Virtual stores and showrooms
- NFT loyalty programs
- Exclusive virtual products
Success Factors:
- High-quality 3D product models
- Seamless purchase integration
- Accurate representation (avoid return issues)
ROI Timeline: 12-18 months
Best Platforms: Roblox, Decentraland, The Sandbox
Fashion and Luxury Brands
Primary Opportunities:
- Digital fashion collectibles
- Virtual fashion shows and events
- Avatar accessories and wearables
- Phygital products (physical + digital)
Success Factors:
- Exclusivity and scarcity
- High design quality
- Strong community engagement
- Cross-platform wearability
ROI Timeline: 6-12 months (if you have existing brand equity)
Best Platforms: Roblox, Decentraland, The Sandbox, Fortnite
Entertainment and Media
Primary Opportunities:
- Virtual concerts and events
- Interactive storytelling experiences
- Fan engagement spaces
- Digital collectibles and memorabilia
Success Factors:
- High production values
- Regular events and updates
- Strong community features
- Exclusive content
ROI Timeline: 3-12 months
Best Platforms: Fortnite, Roblox, VRChat, Decentraland
B2B and Enterprise
Primary Opportunities:
- Virtual training and onboarding
- Digital twins for operations
- Virtual collaboration spaces
- Remote maintenance and support
Success Factors:
- Clear ROI demonstration
- Integration with existing systems
- Scalability and reliability
- Strong security
ROI Timeline: 6-18 months
Best Platforms: Custom solutions, Microsoft Mesh, proprietary systems
Real Estate
Primary Opportunities:
- Virtual property tours
- Development visualization
- Virtual staging
- Global client reach
Success Factors:
- Photorealistic rendering
- Easy navigation
- Multiple viewing options
- Accessibility
ROI Timeline: 3-9 months
Best Platforms: Custom VR apps, Matterport, mainstream platforms
Education
Primary Opportunities:
- Virtual classrooms and labs
- Historical recreations
- Skills training simulations
- Global collaboration
Success Factors:
- Pedagogical effectiveness
- Easy student access
- Teacher tools and controls
- Assessment integration
ROI Timeline: 12-24 months
Best Platforms: Custom solutions, Minecraft Education, Roblox
Step 7: Building Your Business Case
Time to convince the C-suite. Here’s your framework:
The One-Page Business Case
Objective: [Your specific, measurable goal]
Target Audience: [Specific demographic and where they are]
Platform: [Chosen platform and why]
Investment: [Total cost breakdown]
Timeline: [Implementation schedule]
Expected Outcomes:
- [Measurable metric 1 with target]
- [Measurable metric 2 with target]
- [Measurable metric 3 with target]
ROI Projection: [Based on similar case studies]
Risk Mitigation: [How you’ll minimize risk]
Success Criteria: [How you’ll know if it worked]
The Numbers That Matter
Based on successful projects:
Typical Investment:
- Small Pilot: $10K-$30K
- Medium Project: $50K-$120K
- Large Enterprise: $200K-$500K+
Expected ROI:
- Successful projects: 200-400% ROI within 18 months
- Average engagement: 4x longer than traditional digital
- Conversion rates: 4.3% (vs. 2% traditional digital ads)
Payback Period:
- Virtual goods revenue: 6-12 months
- Brand awareness campaigns: 12-18 months
- Internal process optimization: 6-18 months
Step 8: The 90-Day Quick Start Plan
Don’t want to spend 18 months planning? Here’s the rapid deployment approach:
Month 1: Discovery Sprint
- Week 1: Define objectives and target audience
- Week 2: Research platforms and competitors
- Week 3: Select platform and development approach
- Week 4: Create project plan and secure budget
Month 2: Development Sprint
- Week 5-6: Design experience and assets
- Week 7-8: Build minimum viable experience
Month 3: Launch Sprint
- Week 9: Beta test with select users
- Week 10: Iterate based on feedback
- Week 11: Prepare launch campaign
- Week 12: Launch and monitor
Cost for 90-Day Sprint: $15K-$50K
What You Get: Functional pilot project, real user data, proof of concept
What You Learn: Whether this works for your business before major investment
The Bottom Line: Should You Actually Do This?
Let me be brutally honest: most companies probably shouldn’t build a metaverse presence right now.
Here’s when you SHOULD: ✓ You have a clear business objective and success metrics ✓ Your target audience is already active in metaverse platforms ✓ You have budget for ongoing operations (not just launch) ✓ You’re willing to learn and iterate ✓ You understand this is a long-term commitment ✓ You have executive support for experimentation
Here’s when you SHOULDN’T: ✗ You’re doing it because competitors are ✗ You have no clear ROI path ✗ Your audience isn’t in virtual worlds ✗ You can’t commit to ongoing updates ✗ You expect instant results ✗ You’re not willing to fail and learn
The Real Talk Section
Look, I’ve given you the strategy, the frameworks, the case studies. But here’s what nobody else will tell you:
The metaverse is still early. The platforms are still clunky. The user bases are still relatively small. The technology is still evolving. The ROI is still uncertain for many use cases.
But—and this is important—being early has advantages.
Nike and Gucci didn’t wait for the metaverse to be “ready.” They experimented, learned, built communities, and now have first-mover advantages. When (if) the metaverse goes mainstream, they’ll already be established.
The question isn’t “Should we be in the metaverse?” It’s “What are we trying to achieve, and is the metaverse the best way to achieve it?”
Sometimes the answer is yes. Often the answer is not yet. Occasionally the answer is absolutely not.
Be honest about where you fall. And if you decide to move forward, do it strategically, measure everything, and be prepared to pivot.
The metaverse isn’t magic. It’s just another platform. A weird, emerging, potentially transformative platform. But still just a platform.
Use it if it serves your business. Ignore it if it doesn’t. And whatever you do, don’t waste money because someone at a conference said you should.
Now go forth and build something people actually want to use. Or don’t. That’s okay too.
Good luck out there. You’re going to need it.
