The Metaverse: Opportunities and strategies

The future of the internet has begun: The metaverse is the next milestone in the digital transformation. In the process, the real and virtual worlds are merging.

The metaverse is a walkable, virtual internet in which people move around in a 3-D infrastructure in the form of their avatars, call up information, communicate with each other and trade virtually. The metaverse is a decentralised World Wide Web based on the blockchain, which is no longer controlled by powerful platforms but by the users themselves. The metaverse includes both virtual worlds and the underlying technologies such as virtual and augmented reality (VR/AR), blockchain-based technologies (e.g. cryptocurrencies, NFTs, Proof of Attendance Protocols POAP), artificial intelligence, digital twins, holograms and avatars, robotics, big data and decentralised autonomous organisations (DAOs).

Companies can benefit from the Metaverse in many ways. For example, they can open virtual 3D shops to offer their products. They can organise virtual events where visitors can "touch" virtual goods thanks to VR equipment and walk through the halls like at a real trade fair. Since this "trade fair tour" is completely virtual, it provides a wealth of data in real time that was previously unimaginable and therefore delivers completely new insights into the behaviour of users - for all industries and sectors.

Some companies have already started Metaverse projects. For example, companies from the financial services sector are currently testing the opportunities offered by the metaverse in order to shift essential services completely into the virtual world and thereby improve customer satisfaction and loyalty. This is because the "metaverse branch" is open continuously - seven days a week. In addition, it works faster than analogue work processes and can be reached from any location.  

Thanks to Metaverse, retail companies can greatly reduce expensive returns because a walk-in store with haptic product presentation (using a VR glove) can present the products much better than conventional catalogues and websites.

In the Industrial Metaverse, companies map a digitally identical twin of their entire production, including supply chain, infrastructure and value creation processes, which enables them to run millions of simulations at the push of a button. This increases the efficiency of their value creation and the resilience of their supply chain.

In the area of real estate, interested parties can visit properties of their choice from home, take a virtual tour and even design the space planning in real time. The planning can be extended to entire shopping streets and shopping malls.

The Metaverse works at the intersection of immersive experiences, customer:inside engagement, meta-economics and digital assets. A successful Metaverse initiative requires careful consideration of each of these activation pillars and can be a differentiator for companies looking to exploit new opportunities to engage with their employees and customers.

KPMG in Germany has experts with extensive technology and innovation experience who can provide you with strategic, tax and legal support, as well as assistance with all compliance, data protection and data security issues, so that you can reap the rewards in the Metaverse ecosystem.

Thanks to an extensive portfolio of alliance and technology partnerships, KPMG in Germany offers you a complete package of strategy, state-of-the-art technology and tax law advice. Of course, this also applies to all regulatory issues concerning digital assets, the offer and use of cross-border virtual services. KPMG Law Rechtsanwaltsgesellschaft mbH advises* you on new liability risks, copyright, trademark and patent law in the metaverse and on labour law issues in digital environments.

Together with KPMG Law, we can support you at every stage of your journey into the metaverse. From brainstorming potential use cases and solutions, to developing your strategy and roadmap, to implementing your idea. Combining deep industry knowledge, cross-functional experience and technological and operational expertise, our teams supported you at every stage of your Metaverse activation journey