Business Will Boom In Somnia’s Virtual Society

Somnia is building the foundation for a virtual society that has the potential to create countless new opportunities for businesses and drastically increase the size of the global economy. In reality, the virtual society allows for the development of an infinite number of new economies that are all connected and community owned. This, combined with the versatility of digital spaces, allows people to create businesses that just aren’t possible in the traditional world. 

Digital Object Creation and Trading Platforms

Somnia’s Object Protocol enables the creation of interoperable virtual objects. This capability paves the way for businesses focused on designing, creating, and trading digital assets. Imagine digital fashion houses creating virtual clothing and accessories that can be used across different metaverse, gaming or social platforms, or artists creating limited edition digital artworks.

These businesses could drive a new creator economy, providing jobs for 3D modelers, digital artists, and designers. The trade of these digital objects could generate significant economic activity, potentially rivaling or even surpassing the physical goods market in certain categories.

Experience Design Agencies

As businesses and individuals seek to establish their presence in the virtual society, there will be a growing demand for virtual experience designers. Entrepreneurs can establish agencies that build immersive virtual experiences, from corporate training simulations to virtual music festivals.

This new industry could create numerous high-skilled jobs in areas such as 3D modeling, virtual reality (VR) design, and experience scripting. The economic value generated by these agencies could be massive, especially as more businesses recognize the potential of virtual engagement.

Virtual Event Management Services

Somnia can support large-scale virtual events with thousands of concurrent users. This capability opens the door for businesses specializing in virtual event management. These companies could organize and run virtual conferences, concerts, trade shows, and other large-scale virtual gatherings. 

The virtual events industry could create jobs in event planning, technical support, and virtual hospitality. It could also generate revenues from ticket sales, sponsorships, and virtual merchandise.

Blockchain-Based Identity Verification Services

With Somnia’s Attestation Protocol, developers can create businesses focused on blockchain-based identity verification. These services could provide secure, decentralized identity verification for both virtual and real-world applications.

Businesses like this could play a major role in the digital economy, generating revenue through subscription models or per-verification fees, while also creating jobs in cybersecurity and blockchain development.

AI-Powered Virtual Assistants and NPCs

Somnia’s high-performance blockchain could support complex, on-chain AI systems. This opens up possibilities for businesses to create AI-powered virtual assistants or non-player characters (NPCs) that can interact with users in virtual environments.

These AI entities could do a variety of different jobs, from customer service to entertainment, creating a new industry at the intersection of AI and virtual worlds. This could drive advancements in AI technology and create jobs in AI development and virtual character design.

Virtual Education and Training Centers

The virtual society offers new possibilities for immersive, interactive learning experiences. Entrepreneurs could establish virtual education centers offering courses ranging from language learning to professional skills training.

This industry could improve opportunities for and quality of education, while potentially bringing in large profits through course fees and creating jobs for virtual instructors and educational content creators.

Economic Impact

The businesses enabled by Somnia’s technology have the potential to create a massive new digital economy. By providing the infrastructure for these innovative business models, Somnia could help generate millions of new jobs, from highly technical roles in blockchain development and VR design to creative positions in digital asset creation and virtual event management.

These new businesses could drive economic growth for the wider economy as well. The metaverse market alone could generate up to $5 trillion in value by 2030, according to a 2024 Mckinsey report. 

Platforms like Somnia are laying the groundwork for entrepreneurs to capture a share of this market. The rise of these virtual society businesses could also have positive spillover effects on the traditional economy. For example, advancements in VR technology driven by metaverse development could find applications in fields like healthcare and education. The skills developed in creating virtual experiences could translate to improved user interface design in various digital products.

If this sounds interesting to you, join the Somnia community, and if you’re a builder, creator or entrepreneur, check our ecosystem page and consider applying.

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