Metaverse Dominated Future of International Business

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Good day friends. Welcome to this new course in the VJ Exports Mastery Series of courses on Udemy. Friends do you remember? when internet came, some people really made it big, especially in the area of international business. global trade. One of the examples is Jack Ma, who created Alibaba dot com, So Friends, that was Web 1.0.

But we are in the era of Web 3.0. So Friends, what is this Web 3.0 and how you can create big fortune out of this Web 3.0 like the fortune which are made by the people in web 1.0 era. So Friends in this course, I'll be talking about the most interesting and disruptive technologies which are part of the Web 3.0 and how you can really make it big in international trade by having complete knowledge of things like Metaverses, NFTs, decentralized finance and the different areas which are connected with Web 3.0. So Friends a lot is already happening and things have actually really changed.

So many of the things are not clearly known to the people. And if you can learn it early, not only you can start earning from the very first day, you can actually create a great future career for yourself in this rewarding area of metaverses or NFTs, the so called virtual 3D worlds. So friends, these are not just fads. More than one trillion dollar opportunities have already emerged in these areas, and I'm going to talk about all these technologies.

Their basic concepts. And how you can create your own metaverse? How are you can sell the virtual assets or so called Meta assets on these metaverses? How you can create your own marketplace on the metaverses? How you can create voxel objects, so called voxel objects on these metaverse platforms? And overall, how you can understand the future of international trade, which is emerging in an absolutely new Avataar in virtual reality? And how these can be connected with the physical assets, the physical export shipments, the goods and the services?

So Friends this course will talk about all these concepts so that you feel confident in making a great career in these areas and start earning. So Friends, in next video, I will be making a formal introduction on the course, so you have a fairly good idea that what all is covered in this course?

And that is the actual theme of this course? Thanks for joining this course.

Hello, friends. Welcome to this new course titled Preparing for the Metaverse dominated future of International Business Friends, I'm sure you are aware of the fast-changing technology for carrying out international trade, foreign trade operations, and Friends the role of virtual reality, artificial intelligence, blockchain is increasing day by day, and it is entering into every sphere of the business and society. So Friends, the future of international business is also changing, and Friends this course addresses this issue by giving you the knowledge and training for preparing you for the emerging technological advancements which are happening in the era of virtual reality and its role in international trade.

So Friends this course which is titled- preparing for the metaverse dominated future of international business is very, very special course, which actually can help you prepare yourself for fast-emerging high voltage, highly rewarding career in the metaverse space. So Friends, this first introduction of this course, the objective is to understand how will the metaverse will change the business landscape?

Secondly, to understand the role of the so-called NFTs? What are NFTs, Cryptos and blockchain in this metaverse disruptive technology? And third is to understand what can business do inside metaverse? So some of these objectives will be addressed in this particular introduction. And lastly, to understand what are the pending issues or tricklish issues that remain to be resolved. So, friends, the introduction of this course will provide you a great insight into what is covered in this course.

So, friends, it is interesting to understand that already $ 1 trillion opportunity has already emerged in the metaverse space. So you will soon understand what is metaverse and what is the role of metaverse in the emerging future landscape of the business, domestic as well as international business? So friends now is the time to start preparing for the 3D virtual reality metaverse dominated future of the global business.

So this is the statement by many experts and the organizations of repute in the world. For example, what Morgan Stanley says is the next big investment theme is the metaverse space. And what the Forbes and Wall Street are saying that the next biggest disruptive business technology after internet is metaverse. So, friends, all big shots, all big consulting firms are talking about metaverse. So let us understand what all things which we have to understand in this space.

While not many may be following the trends, it is being observed that Metaverse has the potential to change the landscape of the businesses from 2D to 3D, and impact it more than even what the internet did.

So let us address the first question that how will metaverse change the business landscape? So friends metaverse mimics physics of the real world while introducing the advantages of the virtual world business dealings using existing artificial intelligence and VR technologies. So, friends, it is just like walking in the virtual world, defying the limitations of gravity and the speed of the motion.

So you have certain advantages because you are in the virtual space, but you are acting in a real space. So it has the potential to drastically reduce the costs or noise associated with the multiple levels or dimensions of international distributors, traders and their supply chain. So, friends, the possibilities are immense. The end user bases can be reduced drastically in metaverse space.

International logistics cost can further be reduced drastically. So in addition, the metaverse has immense business implications. Some of the examples are enabling high touch interactions for remote users, global employees and customers. And friends. It's definitely going to create the face to face 3D meetings, enhancing or improving the work from home experiences and friends customers can explore locations. They can try new products and even try customizations without having to travel to a physical store.

These are some of the examples of the business implications, and not to forget about the 3D data presentation. So graduating from the 2D presentations of the present times, the 3D presentations data presentations in businesses are going to revolutionize the way people communicate via hands. And friends other possible applications of the Metaverse in the emerging business landscape are the virtual customer visits, the new products, 3D VR launches, 3D VR conferences, 3D Buyer -Seller meets, 3D VR trade shows and exhibitions, and 3D, VR products showrooms. And many other innovative applications can be there.

So as things will emerge, friends you will see that every now and then something new will come, which will defy real-world logic. So the things which will be so-called above the real world. So this is already happening in the virtual space in the form of some of the very successful examples of the metaverses like - so likes of Decentraland or Sandbox or Epic Games. So you can go to these sites and you can see that things are already happening for the virtual assets.

So we'll be focusing in this course on the physical, real world assets and how we can put them in the marketplaces, which are based on metaverse. So that will be the objective of this course.

So, friends, in other words, a metaverse will be a new country with no trade barriers as far as the global business is concerned. So metaverse acts like a new virtual reality country, with no trade barriers. So you can say that the global trade can take place on these platforms without geographic constraints.

And even entire trading marketplaces, stock exchanges will be coming to metaverse. And servicing a much larger pool of participants and investors than possible in the real world. So friends, obviously, if the pool of the participants and investors are so high and definitely much more significant than the real world, the benefits of having the marketplaces, having the business on the metaverse space will be definitely welcome.

Blockchain technology coupled with internet technology is at the core of Metaverse. We are now entering a new exciting phase of E-Commerce.

Now friends The other aspect of the emerging Metaverse space in the future landscape of business is understanding the role of so called NFTs, nonfungible tokens, crypto and blockchain. So metaverse is basically decentralized in nature. So if it is decentralized, it can only be serviced using the blockchain, which is the characteristics of blockchain that nobody owns it, nobody manages it.

So it is fully independent of the central authority. So it is fully decentralized and friends the metaverse asset, So called Meta assets are tradeable and ownable and to manage the tradeability and ownership, Blockchain technology is the only technology which is available at present. Cryptos and NFTs ensures that these Meta Assets are non-interchangeable, which means it can retain its value in the virtual world and it is not possible without the use of the cryptos and the NFTs, it is not possible. And therefore friends the metaverse economy is based on blockchain technology.

So these are the things which need to be understood very well.

So, friends, let us try to understand that what can businesses do inside Metaverse? So as per the existing knowledge, what businesses can do? I will explain to you. But let me tell you, the applications are unlimited. So some of the things which we know as of the understanding of today are three important things three important areas.

The first one being that the businesses can provide services for the Metaverse. So the participants and the investors need the Meta assets, which are in the form of 3D voxel assets, voxel objects or so-called voxel things. So the businesses can service this requirement in the form of Voxel Creators.

So called voxel creators, they create voxel objects and transform them into NFTs and put them in the metaverse marketplaces. The second example of the services, which can be provided by the businesses in the emerging metaverse space, is to act as the Tour Guides for the virtual locations. So these are very complicated metaverses. So without the guidance of the experts about the high traffic locations or the beneficial locations, the system is unlikely to work. So businesses can provide tour guides.

They will be something very similar to what you know as the business consultants in the real world. They can also be like the business agents of the real world. So consultant, business agents of the real world, the similar kind of work is to be done by the tour guides in virtual locations.

Secondly, friends, the businesses can sell Meta assets as nonfungible tokens (NFTs) which I had just mentioned in my earlier slide. So the things like sale/purchase, or even investments in Meta assets can be done by the businesses at present. And friends these Meta Assets can be in the form of virtual assets or even physical assets linked through the Internet of Things (IoT) So I'll explain these things in this course that how they can be linked through Internet of Things (IoT) And third, very important area which businesses can do in the emerging metaverse space is to advertise real world products, in the VR space or Metaverse space.

So, friends, things like digital billboards outside of the virtual collaboration spaces or product placements in the VR games or other high traffic locations, or end to end brand storytelling experiences like what is being already done by the likes of Nikeland or downloadable brand offerings that reinforce the product recall for the physical stores. So, friends, these things are already demonstrated very successfully.

And these are the things that can actually still be done. In addition, the biggest opportunity exists for the Metaverse creators, who can create the marketplaces, simple marketplaces for carrying out the international trade and start selling the Meta assets, the very basic Meta Assets, like even Land, Digital Land, Virtual Land. It is already happening and it can be done very fast and a lot of money can be generated by doing this.

Like any other disruptive technology, Metaverse also poses certain challenges which are being taken care of. In spite of these challenges, technology is going to rule the trade.

Now, friends, there are certain challenges which actually are not difficult, and eventually these challenges will be overcome. So some of these challenges are the high instability of the cryptocurrencies. We know that prices vary very fast and very significantly in most of the cryptocurrencies, which are based on blockchain.

So this becomes and remains a major challenge. Similarly, friends putting in place the regulatory mechanism for carrying out the global trade in metaverses is very, very challenging because so many governments are involved and we are talking of a virtual country without trade barriers. So how the different countries and their rules can be enforced? it is going to be a major challenge, but it can be done given the benefits which it can bring to the different economies of the world. And friends other perceived challenges which are being observed at present, are the risks associated with the large brands and market leaders getting the initial advantages of the head start and possibly monopolizing ad messaging. And friends It is already happening with brands like Gucci, Nike or Coca-Cola, which are already there, and they are already making major inroads.

So any newcomers will find it very difficult to compete with them. So these kind of challenges remain, friends.

This course comprises rare information on the fast emerging technological changes having the potential to revolutionize international trade and business. Therefore this moment presents a lifetime opportunity to immerse yourself in this new field of study to benefit from it most and make a most rewarding career.

Now, friends, let us talk about what all topics are covered in this course. So friends topics like the basic concepts of what is metaverse, what is decentralized finance or DeFi, what is NFTs? What is Web 3.0 and the related areas? So the basic concepts of that are covered in this course.

Secondly, what is covered in this course, friends is How to create your own metaverse-based marketplace? So some basic ideas are given to help you take off with your own metaverse creation. Then thirdly, friends, how you can start selling the Meta assets in your own metaverse based marketplace?

So these things are discussed. And next, what is discussed is friends, How metaverse global business operations are to be carried out and friends, also covered in this course are some of the solutions for these small and medium exporters. So I'll tell you that why special treatment is required for small and medium exporters? what are the advantages and disadvantages with the small and medium exporters may have on the emerging metaverse space? And friends we will be also talking about the future developments in metaverse space.

So these are the topics which are covered in this course.

In web 1.0 with limited tools, Jack Ma from China created Alibaba, one of the richest MNC in the world today. Metaverse provides another chance of similar type for anyone who is ready to take it.

Hello, friends. Today, I'm going to take up a very interesting topic in this video, I will tell you that how you can create your own Alibaba type international foreign trade forum or portal, with a totally new technology. Because friends, as you must be knowing that when Alibaba was started by Jack Ma, he did not know about the internet technology. He studied this when he went to US and he came to know about this technology and he used this technology, He learned this technology and created Alibaba Dot com

So any new technology, whether you know or not, it can be a good opportunity for you to create something very big. So I will tell you today that a new technology which is there, which is a revolution. The biggest revolution after the internet. And it has become now a real application use technology. And I will in this video to try to explain to you that how it is possible that you can create an Alibaba type foreign trade portal of your own and it can be a very, very big thing. You can create a general foreign trade forum

You can create a specialized trade portal, which is actually is called FT VR Metaverse. So I will tell you what it is this FT VR Metaverse in this video and what is the role of NFTs and what is the role of Defi? So you will find these terms very technical in nature because of the new technology. But once you start learning these areas, you will understand that this new revolution after internet can provide you an opportunity to create something as big as what Jack Ma did, 20 years back. So you can do something similar.

So I will try to give you ideas in this video. Friends the objectives of this video, are how to create an Alibaba type F.T. that is Foreign Trade VR means virtual reality metaverse platform for international traders. So it's a new idea. You can get this idea and make something similar of what I'm trying to explain to you. And second objective is friend how this FT VR metaverse can be useful for international traders in selling their goods and services overseas and export these goods and services.

And another objective is to find out that whether this video can give you some examples of the foreign trade, virtual reality, metaverse application and transactions. So let me tell you that this whole concept of this video is based on the practical use of the blockchain ecosystem. So I'm talking of the new technology, which is blockchain.

So let us start with the understanding what is actually the metaverse, and then I will tell you, what is the FT VR Metaverse? So friends a metaverse is the replica of the real world, VR experience online. So what is the meaning of this? So friends, if you have noticed that during the pandemic, many people were doing work from home and they were missing the real world and they were working on Zoom platform or other video conferencing platforms, but the experience was not real world.

So that part which was missing is provided by these virtual reality metaverse. So they use the latest technology available online to provide you the real-life experience and not only provide real life experience, but give you an opportunity to transact in virtual situation in the virtual position like you transact in real world. So you can interact with people, you can transact with people, you can commit things to the people and you can actually buy and sell also.

So that is only possible because the Metaverse real world VR experience online is based on blockchain technology. So, friends, this is the main idea which I'm going to talk to you about in this video today. So some of the examples, the real life example of the metaverse, which are already available and you can check on the internet, are the metaverse is like Decentraland or Gala games or Sandbox. So friends in this metaverse ecosystem, there is the role of the cryptocurrencies also which are specific to that particular metaverse, which is already available.

Or you can create the metaverse according to your vision and mission and which is called the Metaverse tokens. So a specific cryptocurrency created for transacting on a particular metaverse, the real world type transactions in the metaverse, along with the virtual reality experience. So that is the idea. So examples of such metaverse tokens are MANA, which is available on Decentraland, or GALA, which is available on Gala games.

So the examples which I just shared with you of the Metaverses are game specific metaverses. But in this video, I'm going to talk to you about the business specific metaverses, which are still to be created. So you have the opportunity to create such metaverses, and that is where the opportunity exists to create something like what Jack Ma did 20-25 years back in the foreign trade portal space.

So something really high-tech, something based on the new technology, something based on blockchain, something which is more real experience giving portal that can be created. That is the opportunity which exists now. So let us see further.

So, friends, what is the NFT? and what is the role of NFT in this metaverse? I am going to talk about that. NFT is the non-fungible tokens, so what are these non-fungible tokens? These tokens basically are the actual connection between the real world and the metaverse. What we are talking about the metaverse and these connect actually the real-world knowledge which we have the things, which we see in real-world, with the metaverse through so called non-fungible tokens.

So what is NFT? The NFTs are the digitized version of the real-world assets, so what are the real-world assets? So suppose you are a singer, for example, and you own some creation of yours, some performance of the song, which you might have created or recorded privately, and you are a famous person and people know you reasonably well.

And that particular performance you can convert into digital assets and you can put it on sale on metaverse. And that's an exclusive performance. You have only one copy which is digitized. So to make sure it is one exclusive copy which is available for auction or sale on a metaverse or a platform where you can do buying and selling, what friends happens is that the blockchain technology ensures that what you are saying is correct, and it supports your claim that this is a one and only one copy, which is exclusive and it is available on sale.

So I'll give you one example recently Amitabh Bacchan, recited the poems of his father, Shri Harivansh Rai Bacchan and this particular recitation he recorded and digitized and put it on one of the Metaverses for the auction and friends this auction went on for a very short time, and the actual sale happened. The best bid for the digitized version of this performance by Amitabh Bachchan sold for 7.5 crores.

So it is one example the common people can also create some artwork or some kind of technical work, which is exclusive in nature, and it can be digitized and in digital form, it can be sold on blockchain platforms, and it will ensure that it is the exclusive copy non repeatable, non-duplicatable and you have not duplicated it and you have not sold it to anybody else.

It is possible, and that is, that conversion of the ownership of yours in digital form on metaverse is actually converted into the so called Non Fungible Tokens. So NFT. So you can create an NFT of any thing which you want to sell in the Metaverse. So for example, in our case, what we are trying to drive upon is selling of your goods actually, which are converted into NFTs, the shipments. The production which you are doing, the upcoming production, the sale of the shipments internationally can be converted into NFTs and can be sold online.

And the blockchain technology will support your claim that whatever you are saying is correct, the algorithm will take care of the fact that in the Metaverse, in the virtual reality, you are able to do these transactions buying & selling safely and with confidence without any aberrations like you do in the real world. And when you do it on metaverses without actually making the shipments, what happens is that you get the benefits of the pre-planning, bulk shipments, you get the benefits and you reduce the costs.

And I will show you that how it helps the people who are there on the metaverses and they get a better deal than what somebody would get on the foreign trade portals like Alibaba at this time, those transactions will not be able to match with this, with the transactions, which I'm going to talk about, which you will be doing on the Metaverses. So this is a new era of the ownership. So new ways of ownership, the ownership which you have e.g. as a manufacturer, you have the ownership of the things which are produced in a factory and whether it is already produced or about to be produced when converted into NFTs, it can be sold online internationally, and the transactions can take place with the help of the NFTs, Nonfungible tokens, as well as the Metaverse tokens, the particular Metaverse tokens, which means the FT VR metaverse which we are talking about.

So examples of this, I just given you. I'm repeating. The digitized version of, for example, of exclusive, unedited song performances or exclusive artworks or even the shipments, whether already available or going to be available in the future. So month-wise shipments which you can make internationally can be converted into NFTs. So these are examples. So exchangeable these are exchangeable friends with real-world assets. So what is the meaning of it, these NFTs which you sell in the international market, they can be divisible, they can be tradable, they are transferable, and the blockchain technology will ensure that all transactions which are done are authentic and like real world and the actual wholesalers or the even big retailers who actually want the shipments, they can convert those divided or partial NFTs which they buy from the main importers, they can actually convert it into real-world shipments, which would be available. I will show you,

How these will be available? So these things are possible now in the metaverse space. And this is going to become a really big thing because that is the reason why Facebook has the changed It's parent company name to Meta based on this idea only. So what Facebook has done is the thing which is going to come very soon.

So, friends, after we have understood what are NFTs? Let us try to understand what are the DeFi networks and what are their role in this whole thing, which I've been talking to you. So friends, these DeFi networks are the financial connections between the Metaverse Tokens, which I talked about, giving you the example of Mana and Gala also called the native tokens, and the fiat currencies, what we know already the currencies Indian rupees or dollar or euro.

So these fiat currencies when converted into native tokens or so-called metaverse tokens, which are specific to that particular metaverse, which you create for the international traders. So these are the financial connections. So these not only provide this interface between the Metaverse yokens and native tokens and the fiat currencies, but they also provide the support for the native tokens trading across the blockchain platforms on different blockchain platforms. And not only that, they also help provide a wide range of financial support and solutions.

So some of the examples of such support and solutions are smart contract based lending and staking solutions. So what is the meaning of this? The money required by the intermediaries in the international shipments like big importers or the wholesalers, they if they want to buy the NFTs of the companies, the reputed companies for future shipments, and they do not have the financial power at a given point, and they feel that they should be really buying those NFTs. So they can get the lending through Defi networks or they can share the stakes.

So lending and staking is possible through these DeFi networks. So other solutions like person-to-person transactions and many other solutions can be provided by these DeFi networks.

Hello, friends, welcome to VJ Exports Mastery. Friends today, I'm going to talk about what is Web 3.0? So friends, you know what is Web and there was Web 1.0, there was Web 2.0 and now it is Web 3.0.

Why is it important to know about Web 3.0?

What is the significance of Web 3.0?

I'm going to talk about, in this video friends. It is very, very important to know the special features of Web 3.0, which I will talk to you about in this video. So friends, when the internet was started, it was regarded as Web 1.0. So friends in Web 1.0, it was the exploitation of the internet technology itself, a very basic thing. But it was new for many, many people. The people who took early domain names, they cornered some very good domain names, and they made a lot of money out of those domain names. So it was a very, very simple process.

But it was still not so easy to understand for the new people and the people who understood Web 1.0 like Jack Ma, they made a big fortune for themselves, taking the early lead. Many other websites were created. Yahoo, Google So many big companies came out of Web 1.0. So friends Web 2.0 came out with the E- Commerce and many new applications, which were the result of the developments which actually took place in Web 1.0. So the exploitation was of the reach and the penetration of web 1.0 in Web 2.0. But friends, Web 3.0 is a very special development which has happened in the internet space because it has come out with some really revolutionary technologies, and Web 3.0 is likely to remain for a long time.

And the biggest revolution which has happened, which gave rise to Web 3.0, is the blockchain and the Forbes is saying the Wall Street is saying that the blockchain is the next biggest revolution after the internet. And since Internet, no other revolution or disruptive technology which has come like blockchain. So it is going to remain for quite some time. So in my opinion, Web 3.0 will be very, very significant and it is going to have a very significant period.

And before Web 4.0 comes, Web 3.0 will be making a major impact on the day-to-day life of the people. So let us understand what is Web 3.0 and what are the features of Web 3.0? So first let us try to understand what is Web 3.0? So Web 3.0 is the third generation. As I've just mentioned, it is the third generation of the internet services, and it has been specifically made possible by the decentralized Networks. So what are decentralized networks? The networks which are self-governing, there is no central authority like Google or Facebook or the central banks or the governments or the big organizations like Visa Card or the MasterCard, who are controlling the data of the people who are controlling the whole architecture of certain very important online systems and having a direct control of the day-to-day activities of the people.

So there is no central authority. These are decentralized network, which are purely based on cryptography. And that's why they are called as crypto. And these decentralized networks became possible only because of the blockchain technology, which is based on cryptography. And cryptography, is not in any single hand. It is a decentralized network and it is making waves in the world today. So some of the examples of such decentralized networks are metaverse. So the other example of the decentralized networks and the tools used, for example, non fungible tokens, the tools which have been created using the blockchain and they are part and parcel of the metaverse and decentralized finance networks that is in short called DeFi networks.

They are the examples of some of the best decentralized networks, and not to forget about the blockchain platforms like Etherum and many others. So Ethereum is making waves because it has taken lead in Web 3.0 and the Ethereum platform is famous for the smar contracts, which have made the transactions, the business transactions possible in the virtual space. And these transactions in the virtual space helped by augmented reality and the blockchain have created things like metaverses, and these metaverses are are the big revolutions which are already happening on the internet.

So this third generation of Web 3.0, is really very significant. So I hope friends, you have a fairly good idea about Web 3.0, and that was my objective of this video. If you like this video, do comment about this video and the topic which I have started on this video

The challenge of Metaverse hardware support still remains, in terms of affordable smart headsets to display graphics that should be able to nearly mimic the real world 3 d feel.

Hello, friends. Welcome back to the course. So friends in this lesson, our objective is to try to know the background and the basics of the special hardware, which is important for supporting the metaverse space. So let us try to understand what are the basic concepts of the knowledge which is required for understanding the hardware behind Metaverse. So friends, the objectives of this particular lesson are what is the hardware which is different in metaverse space, from other internet-based applications?

So this is the first objective of this particular lesson. And friends, the second objective is what are the challenges the industry is still facing on the hardware front in the metaverse space. So, friends, we are trying to understand that are there certain hardware-related challenges which are still to be taken care of by the hardware industry. And what are these challenges? and friends also, we will try to understand in this lesson who are the major hardware business players.

Which are the companies?

What type of industry?

Which countries do they belong to?

Who are the major players in this particular industry?

So we'll try to understand that. So let us go to this lesson. So, friends, in order to understand the Metaverse hardware basics, it is important to understand that what are the things which actually combine human metaverse space, which means the type of technology and related hardware which makes the metaverse possible. So friends, in order to understand that we have to understand one thing very, very important, very basic thing in the metaverse that- in the metaverse, the real-world activities are actually mirrored in the virtual space.

So this is the basic principle on which the hardware, all hardware, which is related to metaverse is based. So what we are trying to do, is the real gestures, the voices, the eye movement, and all real things, which makes the social life, the interactive life, the business life, and the community life of the people so interesting. All those things, can these be mirrored in the virtual space using the different technologies which are already available and all based on the internet?

So in order to do that in the hardware space, in metaverse, we'll be requiring more processors with vastly improved computing power, obviously. So it means the type of computing power which was required in Web 1.0 and Web 2.0. It will not work. So we require vastly increased and improved computing power, more processors, and most important wearable devices.

What are these wearable devices?

The wearable device is the VR headset, which takes the visual senses of the person who is using it in the virtual world. Now, that is the most important part of the Metaverse, because the actual virtual reality, augmented reality experience can only be interfaced through some kind of VR headset. Now, this wearable device, that headset, it has to be convenient to wear.

It should not be too heavy.

It should be looking smart.

It should be actually very convenient like it has happened on all other devices.

When mobile handsets came, they were very heavy and stupid and they were very bulky. But now we have the most convenient, lightweight, longer-lasting batteries for smartphones. But those technologies, which helped make the handsets in the mobile technology so comfortable, are not sufficient to obtain the wearable devices and the headsets for the Metaverse. We require much more advanced, smart, efficient, and technology-oriented components for the headsets.

So we'll talk mostly about this particular very important gadget, which is the wearable device, which is the headset that is the most important hardware apart from the other processing powers which are required in this. So this is the basic background of understanding the metaverse-based hardware basics. So friends, what does it mean? It means we require a very large number of semiconductors of much better quality. We require much more powerful servers. We require very sophisticated cameras, high-resolution cameras, and image sensors of a very sophisticated nature.

These are the basic requirements of the new industry, new hardware, which is going to support the metaverse space. At present friends, the major players are Sony Corporation, which is the most important player when it comes to headsets and is not far behind Apple in the US. Because Apple is already working on a more sophisticated headset, actually. And then other major players include Samsung, Nvidia Corp, and Taiwan Semiconductor.

So these are some of the very big names in this industry, and they are going to play a major role. And they are already active and they are looking for the year 2022, which is going to be a very, very important year, as has been predicted by most experts in the metaverse space. So companies from countries like China, Korea, and Japan are also in the fray to invest in this sort of gold rush of computer hardware for the metaverse space.

Now this is something which happens once in decades. So, friends, It has already happened. Companies are investing in this gold rush, and as I have already mentioned, the year 2022 may be a defining year of the hardware companies around the metaverse space and its associated applications. And it is happening. It is going to happen. Now friends

What are hardware challenges which are there in this space?

We have to understand and as I had already mentioned to you, that the most important part, which is VR headset. Although let me tell you that the Metaverse can be accessed through smartphones as well as desktops. So that's not the point. It is not a question of accessing the metaverse. Accessibility is fine, but to get the actual experience of the metaverse space, for example, students learning in a 3D environments from around the world in the metaverse can only happen through headsets, not through any other gadget. So these VR headsets at present are still categorized as stupid and heavy. So, friends, that's a fact. So present technology still not sensitive to as I had mentioned, to the is human voices, eye movements, and gestures. So sensitivity has to be taken to the next level in order to make them more real, more immersive, and more intuitive.

The real world like sensitivities is introduced to metaverse space. That is the most important thing which is going to be happening, although is still a challenge. Companies are working on these advancements. So more upgraded graphics technology. As far as technology is concerned, Sony Corp has done a lot of work. We already know it, but whatever has been done is not sufficient. Apart from image sensing technology, graphics tech for display devices require to capture the real-world feel. Because at the end of the day in Web 3.0, we are talking of the virtual world augmented by Augmented reality, mixed reality, and extended reality, so all these can only be exploited. The new wave can only be adopted if we are able to capture this very important part of human life and bring it in the visual space through display devices. It is very important.

So, friends, what is happening is that at present, the focus is on the available technologies, although not so advanced, which are being worked upon, and deployed for the metaverse experience, which can range from virtual reality, which is the most important part and the augmented reality, mixed reality and extended reality. Now, the question is which mix of technology? For example, VR + AR or VR +MR, or what kind of format will actually survive, and what kind of format will make the bulk of the viewing the user base? So that is still to be seen. Until we know which format is going to give the best results, the companies are working on creating hardware for all these 4 technologies.

So friends, as far as my understanding goes, friends, what I feel, looking at the business and educational application, the virtual reality with the help of the augmented reality and mixed reality will play a very, very important role. And that would be sufficient, as far as the education and business applications. So these 3 technologies require much more focus than ER tech. So this is my take on this. So the most important area of focus still remains, for working on creating the future generation headset, smart headsets, not heavy.

So as far as the hardware goes, it has been mentioned that at least 15 cameras of very high quality and high-quality image sensors in the same number would be required for any VR headset that is still to be created, actually. So smaller, more powerful, longer-lasting batteries are required for this to make them less bulky with the lighter weight, and smart headsets can only be created, which can keep on working for days, without these batteries, it is not possible.

So the focus still remains on the headsets apart from the other computing power. So these are the basic understanding of the hardware which supports the metaverse space. So if you can understand these basics, you will know which are the important areas on which the hardware industry is working and it is happening very fast actually. Very soon, new gadgets will be there in the market from companies like Sony Corp. or Apple, or Samsung.

These are the three very major players, as far as the headset goes, and you will see drastic cuts in the prices of the headsets, which are still very high in the order of $500 to $1000. You get the headsets, which are not so smart. They are not so light. But in this year 2022, very fast, you will be having the headsets in the market. The headsets will be very good.

So our main purpose was to understand what is the foreign trade, virtual reality metaverse and what is the idea? So friends I am now coming to the actual idea, which I want to share with you. Having explained to you, what is metaverse, what are NFTs and what are the Defi networks? These are the case uses of the blockchain technology and what I'm going to talk about the billion dollar idea to start an Alibaba type trade portal in the form of the FT VR Foreign Trade virtual reality metaverse focusing on foreign trade. So it can be general foreign trade. Or it can be specialized also.

So as per the new technology which is available and it is doable, all product and commodities can be traded in the FT VR metaverse across the world. It is available in real time, 24X7, 365 days. And the features of such proposed FT VR metaverse are real-world visual experiences. So you can have the buyer-seller meetings, which are virtual and transactional, the interaction between the buyers and sellers. Even the sale and purchase transactions can happen or the VR conferences can happen. VR trade shows are possible which can involve the actual transactions, blockchain-based transactions which are safe and which are real world like. It is possible. So real-world visual experience, NFTs for the good and services.

The very important features and these NFTs can be traded across the different metaverse, they are divisible. They are tradable and they can get the support of the lending and the staking by the Defi networks, the Defi networks focusing on the FT VR metaverse and their needs. So friends, these are the features.

So what I propose is the benefits which we want to exploit of the so-called proposed FT VR Metaverses. the significant cost reduction in the cost of transportation due to the scale and lesser movement of the goods. Better value realization of the goods and services. Speedier returns on investment in the production of goods and services. Lesser risks in speculative buying and selling. Lesser investments.

And cheaper DeFi digital finance, which is available to the traders through such metaverse Alibaba type portals and sharing of the risk of speculative buying through staking available on the DeFi network support. So these are some of the benefits. There are some more benefits, which I'll be explaining, actually.

So these things I'll be discussing in more detail, but I'll continue with some more details about it.

Now, what about the people who actually create the FT VR Metaverses? What is the value they get? Proposed benefits? so significant potential for world suppliers to move to the FT VR metaverse due to obvious advantages, which I just explained to you. Income from commissions on each metaverse transaction, primary, secondary and tertiary.

So whatever the transaction take place, You get the commission. The virtual reality profiles creation and the listing fee can be collected from the traders who are there on the platform. Sale of the VR outlets and showrooms to the suppliers can get you the real money in the real estate.

The virtual reality real estate. And the collection of the membership fees for VR trade forums. VR Buyer Seller Meets, VR conferences, VR trade shows and VR product launches by the different companies. And also the income from your own FT VR metaverse crypto token sales and commissions. So this is the kind of value that can be generated by the creators.

So let us take this use case example of the benefits which accrue to a particular company on a FT VR metaverse. So friends just imagine a manufacturer of decorative lighting, for example, in Taiwan, the company name An imaginary name is Xlite, for example, and it has got different products. The total product range numbers around 100 models, for example, and they have a total production annual value on cost and investment. for example, let's say one billion dollar ex factory.

And the expected return in the current situation, the traditional way is 20 percent of the cost. So this is what is the expectation of the top management of Xlite at present. So let us look at this case further. So in the present scenario, how the goods are being distributed? Let us see that. So main importers or importers in the Asia-Pacific region. The markup is 25 to 30 percent on the cost.

The main importer or the importers in South Asia, the markup is 35-40 percent. Main importer or importers in Europe 30- 35 percent. Main importer or importers in middle east 40 to 45 percent markup at present. Main importers in Africa 40 to 45 percent. Main importer or importers in South America, 45 to 50 percent. So friends, the variations in these mark ups, the five to 10 percent markup variation is due to the different dates of these shipments.

Different payment terms.

The order quantities.

Different order quantities.

The different transportation costs, which can vary from month to month and place to place during the whole year.

And the nature and length of the relationship between the Xlite company manufacturer and the business. partner, the importer.

So different relationships they have, so different pricing is possible. different markups are possible. So let us look at in the present situaion, what are the reasons of the higher markups because the mark ups are really high and it can actually be even more? One of the reasons is, these shipments are scattered across the year and unpredictable. So the level of risks increases. So there is no prior guarantee of the sale volumes in different regions year on year, resulting in higher risks on the investments, which also has an impact on the expected returns, which company actually expects 20 percent returns from the business.

And another reason of the higher markup is the sales of the decorative lighting, which is seasonal in nature. So, for example, in the Diwali time in India or Christmas time in Europe, these sales increase. So planning goes according to that and which causes high speculative buying, resulting in further cost markups for the price for end-users, resulting in the sales So ultimately, because of all these reasons, the end-user prices actually go up. And if the price goes up, definitely the demand comes down. So volumes become small actually. So this is the present situation. Now friends.

Let us now look at the situation after Xlite decides to trade on the proposed FT VR Metaverse. So what happens in this scenario? Xlite converts. the sales volume to region wise limited exclusive, divisible, tradable NFTs, which I explained to you, units for each month, coming month of the year, production and distribution. So the plan is there. How much will be manufactured? so that information is available with the manufacture and accordingly, the NFTs have been created.

So all NFTs will be and expected to be sold across the world in the very first month that means the financial year starting, for example, in January. So in January month, if the products are in demand, it will be sold. So Xlite decides to link the distribution and transport of the goods on monthly common bulk shipments because NFTs are already sold. So the selling plan is already there. The revenues are already there in the hands of the manufacturer.

So it is possible to link the distribution and transport of the goods on monthly common bulk shipments to each overseas region and shipped actually to custom bonded warehouses in those regions. Right? So. The main importers or the large importers across the world are free to trade these NFTs, which they have bought in the month of January, among their networks, among their partners, pool the resources also, it is possible using the Defi networks for digital lending and staking. So all this support is available to the importers. So this is the situation

Let us see further the result of this change. Let us see that. Now what are the result of this change? The first result is the reduction of the expected returns of the company on investment of Xlite, which was earlier for example about 20 percent. And possibly it comes down to 15 percent due to the advance receipt of the sales revenue in the january itself.

Now, five percent is already gone, expectations. So focus is for the Xlite to increase the production for the coming year, next year. Because the sales volumes have been already clear, the revenues have been already received by the company.

So what happens?

The significant reduction is seen now, in transporation costs, due to the scale and the bulk distribution in each month in each region, going in the bulk quantities to the bonded warehouses. Now another result is the significant reduction in the number of primary, secondary and tertiary transactions of the goods in physical world, resulting in the reduction in the third party related movement of the goods significant reduction. So significant reduction also happens in the end user prices, obviously because of these benefits accruing from the reduced transactions and reduced movement of the goods. So end user prices due to these reduction in the transaction cost becomes much less.

So risk reduction for Xlite, as well as the primary, secondary and tertiary traders and wholesalers, transactions reduction resulting in lower mark ups at different levels, benefits the end users and because of the ultimate end user price getting reduced, there is increase in demand due to this reduction of the end user price. So this is the result which is seen friends in the use case, which we are talking about.

Choose the one that is best

Selling virtual assets online was always a challenge. What blockchain technology has provided is a practical solution to positively and safely own any property or asset online earned or bought over Metaverse.

This video is very, very important. It's a wake-up call for you because I want to tell you about the opportunity which you might be losing, that you have to start selling your digital virtual lands already and start making money on your business metaverse. So you have to start selling your digital virtual land. I will tell you how you can sell your digital virtual land and start making big money.

This is the time to start now. More you will sell chances of success of your metaverse would be very high. Still, nobody has yet come out on the metaverse space, international trade and business transactions, so you have to start it before others start doing it. So you have to start selling the properties now and start making the money. So I will tell you how you can do it? So friends, first of all, we have to understand what are the digital virtual land on Metaverse?

What exactly is it?

So I will tell you what it is. So friends land on the metaverse are the portions of business metaverse. So these are the portion. This is part, the space which is available on the metaverse, which you create, and it depends on the Metaverse which you create.

How do you create?

So these lands are available and are open to business ownership. So you sell the metaverse rights of those lands on the ownership basis, and blockchain will take care of the ownership. So unique ownership will be taken care by the blockchain platform, which you will be using basically the metaverse. So, friends, these lands can be digitally edited, modified by the owners and contain other tokens also like the digital assets, buildings, structures, shipping containers, product and services models, voxel models, warehouses, components of the warehouses, components of the buildings, voxel objects in the form of voxel objects to create showrooms, business showrooms, business storage, good storage, factories, inventories and other buildings which you want to create. Shops also.

So multiple lands can be linked together, friends They should be linkable, digital lands to form so called estates, campuses, complexes, districts. So that is very, very important. So depending on the size of the estate, you can give the different names and the nature of the estate. You can give the different names like factories or if it is the set of factories or it is a complex like the automobile complex, like, Maruti complex, which you are aware of. Maruti Suzuki complex, if you are aware of, which is a very, very big complex and contains a lot of vendor's businesses also, factories also.

So those things are possible on the metaverse, which you would be creating. So, friends, I will tell you more about these digital lands. A land friend is a digital piece of real estate. And this real estate in the digital space, virtual space, which is the metaverse. And what is Metaverse? That I have already discussed with you in the last video. So friends, these lands are used to build digital infrastructure, assets, digital assets like warehouses like buildings or showrooms or conference rooms or factories, warehouses, spaces, storage spaces. So the examples I just mentioned to you, warehouses, showrooms, storage, products, you can even have the products in the showroom, factories and also populate it with different types of voxel assets.

And these assets are created by the voxel creators or voxel artists. So I will tell you more about it. Each land is unique non-fungible token that is NFT, or you can call it land NFT on your choice of platform. So your choice of blockchain platform. But I will suggest you that you should definitely go for the Ethereum platform. Why? Because Ethereum platform is the best blockchain platform which contains the architecture of the smart contracts, it's very suitable for smart contracts.

It is very, very suitable for international trading.

It is very, very suitable for business metaverse. So it is created and suited to the business metaverse. That's why I'm saying that you should always go for the Ethereum platform. So friends, you can fix a total number of land parcels also, some units or link with the world map or the Google map also, depending upon the architecture which you want to create in the metaverse. Let me tell you if you create the world map that is the google map, what'll happen that many of the businesses would like to keep their addresses, which are available on the Google map and they will buy the land parcels according to their own addresses. It is possible.

So the benefit would be that many of the traders who have got the real-world infrastructure at very happening places, they would like to have the same addresses. So it will help you in the selling. So that is also possible. But if you don't want to keep it to the Google Map correspondence or the overlapping the Google Map addresses, you can create your own architecture. You can create your own map also. So friends multiple lands can be combined. Or you can say they can be linked to form estates or factories or complexes or factories or the district. So you can create such kinds of different levels of land parcels. A special type of estate owned by more than one person is often called as district or complex, or you can name it as per of your choice business choice. So it is possible.

So my idea of explaining these things is that I'm trying to tell you that what kind of infrastructure you need to create on your metaverse so that you start selling your land and start making money. That is very, very important because now's the time to sell, start selling the land because everybody in different spaces of metaverses of different types. For example, the computer games specific metaverses like Sandbox or Gala or Mana, they have already sold their lands and they are really fetching a great amount of money.

And there are other metaverses which are linked to the Google map for the purposes like gaming only. So they have even sold addresses like Wall Street or the New York Stock Exchange and very recently the New York Exchange address was sold. That land parcel was sold for more than 26,000 USD. So it is already happening and you have to start making money before it is too late. This is the time to start selling your land, and that will also define your success actually. The more land you will sell, it means you will have more traffic and visitors which are available on your metaverse. And it will decide the success of your metaverse, and that is very important. This is the starting point. Selling the land, the property, the real estate in the metaverse is the starting point of the success journey for this metaverse.

So, friends, what are the features which are required for this metaverse? What facilities should be available?

What are the deliverables?

What are the capabilities?

I would just explain to you, so that you start creating your metaverse structures. In my last video I had given you the ideas, how you start creating your metaverse? So friends, the features of the land, the virtual land in your metaverse should be that it should be accessible through a virtual map on your official website. So whatever is your official website through a unique address or you can link it, as I already explained to you with the actual Google World Map. That is also possible, so the proximity of the lands to large business partners, similar wholesalers or other key positions will play an important role, and it should be doable in the actual selling of the land, actually, and it will help them to sell their goods.

So if they're available, so this requirement is there. If you want to create your own map, if you want to create your own space. If you're linking up with the Google map, probably you need not worry about that. The Google Map will take care of the locations, and the proximity question will be decided by the people who are buying if they wanted to buy their actual addresses or they want to buy land in the most prominent districts of the wholesalers of such items. They may like to buy it. So that the actual situation will take care, but this facility actually should be there.

If you are building your own maps on the Metaverse. So things like visitors count, the economy and the visibility of the showrooms, their infrastructure, their assets, their look will actually matter, built on those lands may also play an important role in the business turnover. So your metaverse should be able to make it possible to create such assets, voxel assets. I'll explain more about it in this video, what are voxel assets and voxel models and the buildings I will tell you about it.

So it should be also possible on your metaverse to rent out the land or sell the land to voxel creators and other businesses. And friends business persons or voxel creators. They will also be able to collaborate with other business partners or voxel artists or creators to build unique and more visible infrastructure on the land. Why visible because visibility, as I've already mentioned to you in my last point, the visitor count, economy and visibility matter to sell the goods. It would be of great importance in the virtual setting also. So basically, this virtual selling is exchangeable to real-world assets.

That is the idea of the business metaverse. So the idea is to sell on the virtual more so as to reduce the cost of transactions. So that is the idea. So it should be very unique. This kind of transition should be unique and this should replicate the real world things which we know what happens in business, what matters in business. The location matters, the infrastructure matters, the buildings look matters. Your location and the proximity with similar businesses matter. So all these things will matter here also and this is for real. It is already happening.

So land can also be combined into larger estates. It should be able to be combined or linked so called linked or districts as long as they are adjacent, actually. If they're not adjacent, obviously it may not be linkable, and it should not be linkable actually to give it a real look it should be linked when there are adjacent only. Alternatively, estates can be split into smaller lands. So these are the deliverables in your metaverse. So you have to create the infrastructure and the architecture like this only.

Now, friends, I've been talking about the nonfungible tokens in my earlier videos very frequently and I had been talking about the importance of and the role of nonfungible tokens NFTs in the metaverse space, the virtual space, which is enabled by virtual and augmented reality to give the real-life experience and to make it possible to actually transact, buy/sell in the virtual world in the Metaverse. And the biggest contribution is of the NFTs, the nonfungible tokens, which are the connection between the real world and the virtual world.

So in this video, friends, I want to talk about what are the different features of the NFTs for the buying, selling of the goods and services and for the goods and shipments which are possible in the real world with the help of the transactions which are taking place in the virtual world that is metaverse. So, friends, the NFTs, the biggest feature in the space of metaverse for the business, and trading is that these NFTs would be divisible with the given conditions with minimum, the smallest unit being generally for international trading one 40 feet FCL container.

That is the full container load. And secondly, these NFTs are tradeable, they can be traded. They can be mortgaged. They can be staked by the other stakeholders. So these are supported by the blockchain platforms and therefore digitally authenticated. They are unique in nature, and they carry the confidence of authenticity and exclusivity because of the blockchain technology. And these are generally issued by reputed manufacturers and exporters.

So friends in the metaverse space, the role of NFTs is very, very important. And I have in my several videos given a lot of examples of the NFTs, which can be in the form of the virtual reality voxel assets, object, lands also and a hell lot of things which can be converted into NFTs, including the real-world shipments, the export import shipments, which can be converted into nonfungible tokens. So I hope friends, you have a fairly good idea about the special features of the NFTs. If you like this video, kindly comment on this video

One of the best opportunities which exist today is for creative minds who can visualize and create virtual assets and sell them online in the form of NFTs.

Now, who are the voxel creators, Voxel creators in business metaverses are like builders in the real world. So they are the digital creators, artists, digital artist, and they take help of the voxel software, like Voxedit and many of the software which are available and which you can link on your metaverse. So, friends, these voxel creators create infrastructure or the virtual assets, which are useful for helping with the marketing, virtual business operations, the building of the reputation of the businesses on the Metaverse, and they get paid for creating such assets.

So initially, from the land cost which you'll receive, you probably have to create a donation fund or the motivating funds for such artists. Because when you do that with the money which you receive from the land, the artist will come to your website and they will start creating the assets. And if there are land purchases, then they will need these assets, voxel assets to create buildings and warehouses. So the fund which you create, the initial fund, which you create, for example, for one thousand initial artist, who will apply to you and they will create the assets.

These assets are very important. Without these assets, what the people who are buying the land will do if they are not able to create buildings, they are not able to create warehouses, they are not able to create their own product models. So they should have the people or should be able to create their product models, digital models, 3D models, actually. All these assets are 3D.

Let me tell you. These voxel assets are all 3D and instead of pixel, actually, that's why they are used as voxel. Pixel are 2D and voxel are 3D. So that's why they are called as voxel creators. So these are very, very important. And your infrastructure and the architecture of your metaverse should be doable and should be capable of handling all these features and you need not worry, these are very common features that are available on the platforms which I had suggested in my last video.

If you've seen the video i had suggested those platforms where you can create the Metaverse. So smaller voxel creators, for example, create voxel assets, small assets like shipping containers or 3D models, showroom objects, building objects, warehousing objects. The big voxel builders use these smaller models to build large infrastructure for building the businesses, the business people who want to create the infrastructure.

There would be many business people, factories, traders. Well, I'd like to create such infrastructure. They will simply export their real life, real-world assets or the inventories into the NFTs, and they will try to sell it. Without these infrastructure also So but many of the business people will be interested in purchaing the land and creating such infrastructure on the metaverse. So it is really very important. So you allow both types of businesses

Now friends. The other important question which comes now and which remains in this video, very important question how do you get paid for land sale and start transacting? So as I've told you that this is a wake-up call and you have to start selling the land in your metaverse to make it successful and start creating your metaverse, business metaverses, which people have still not done. The race is on already.

People are already going into many areas, but business trading areas, they are still not reached the way I'm explaining in my these videos. So these are very unique videos, which I'm creating for your benefit So accept most popular cryptocurrencies, like what the Sandbox does, it accept the most popular cryptocurrencies- Ether, bitcoin, and many others. So you can use the same strategy or create your native cryptocurrency, your metaverse cryptocurrency, which I had explained to you in my last video, tradable in compatible crypto wallets?

So the examples of such are like mana or gala that also I had explained in my last video, so kindly if you have not understood, you can go through that video again. Link with the popular crypto wallets and accept their currencies. So examples of such crypto wallets are: Venly, Bitski. I will give you the names of more such wallets. This is very, very important.

The other important popular crypto wallets are Friends Coinbase Wallet, which is best for the Beginners Electrum, which is best for the Bitcoin trading or bitcoin trading, accepting money in bitcoin for the lands or the other transactions which you make on your metaverse, or the benefit of the creators, voxel creators, the builders who will charge for their work and receive money in bitcoin or in Ether or Mycelium, which is best for the mobile users.

If people want to use mobile phones, it is more compatible with mobile. Ledger nano X-best offline Crypto Wallet for offline purposes. And Exodus- best for the desktop. So these are some friends popular crypto wallets.

Now, I will like to share with you some special things, which you should know. That is very, very important in my this video. So special notes are there. What are the special notes? Your land should be tradable on different blockchain platforms and NFT exchanges? So what are NFT I have already discussed in my last video, and I have already discussed the nonfungible tokens and native tokens. All the voxel creations, assets, objects, infrastructure should be exportable into NFTs on your metaverse and should be tradable on your metaverse.

So these are the standard NFTs which not only applies to your metaverse, it should be tradable in other metaverses, compatible metaverses or crypto exchanges. Businesses without land ownership should also be able to upload. I've already mentioned this thing in my this video, I am again repeating this thing that thy should also be able to upload their own real-world assets into the nonfungible tokens NFTs, which should be tradable in your Metaverse

So these are the requirements. These are the deliverable. If you are able to create such kind of metaverse, then you can start selling your land and start making money. So friends the time is the key in this and the metaverse race is on. This is the biggest revolution. This metaverse technology is the biggest revolution based on the blockchain.

Again, blockchain is the biggest revolution after the internet. Everybody's talking about it. Forbes is talking about it. Wall Street is talking about it. Facebook is talking about it. Facebook, has even changed the name of its parent company name to Meta. So friends, everybody's moving towards Meta. Everybody's moving towards metaverse.

You should not be left behind in this race. And the sooner you start working on this area, the sooner you start learning all about metaverse, all about Defi networks, all about NFTs. All about Web 3.0 services, all about native tokens, all about selling virtual lands. Your time has come and you can start making money, big money.

And maybe you can make a very successful international trading metaverse, better than what Jack Ma did when the Web 1.0 came, the internet came and using the Web 1.0, Jack Ma created Alibaba. Now is the time that you use Web 3.0 to create something like Alibaba and what Jack Ma did. So this video is a wake up call for you. Before other people start selling the land, you start selling the land of your metaverse.

Hello friends. Welcome to VJ exports mastery. I bring some really revolutionary videos related to the international trading, foreign trade, exports Imports, and I keep you updated with the latest technology, which is revolutionizing the way internatinal trading is moving towards the real globalization. So, friends today in this video, I am going to talk about the step-by-step guide on how a customer would buy on business metaverse. In another video I will talk about how a Trader will sell Goods on business metaverse, which are going to revolutionize the web 3.0 very soon.

So, friends let us understand the step-by-step process of how this customer can buy Goods on a business metaverse something very similar to the Alibaba trade portal of the web 1.0. So friends in Step One, the customer visits the business Marketplace of the business metaverse and Login on this platform. So these platforms are created by the different metaverse creators, and they are marketed by them to bring the traffic of the sellers as well as the buyers. And I have really talked about the creators of the metaverse and the advantages of metaverse, and what metaverse can do.

And it is going to become the web 3.0's biggest technology to help reduce the costs associated with International exports and imports transactions. So I have already talked about this metaverse in several of my videos earlier. Friends in Step number two, the customer browse from the various available goods and shipments offered by the several Traders and manufacturers on the Metaverse.

So these are the traders who have converted their actual real-world shipments into NFTs, the non fungible tokens about which I have talked about in several of my earlier videos. And you can see those videos. So, friends, these non fungible tokens can be traded on metaverse. And by browsing all these NFTs of the available goods and shipments offered by the different traders and manufacturers, the customer get the complete details and the conditions attached to them.

So that was step number two. Now, friends in Step number three, once the customer have selected the goods or a particular shipment in the form of NFT. And if he wishes to buy, he clicks on the same to read more about it. So complete details are given. He can go much deeper into the details, which are given the conditions which are given attached to the real world shipments, and what are the different features and the prices everything is given about and even the time, even the time schedule of the availability of those shipments and the particular locations in the world where the shipment will be available from which date to which date.

So those details are given. So, metaverse business platforms may only allow the customer to use their approved cryptocurrency, which means the native tokens or metaverse tokens. So about these native tokens I have discussed in my earlier videos so you can watch those videos. You will get an idea what are those native tokens? And it is possible that they may only allow the native tokens. But many of the metaverse may have the popular cryptocurrencies, which they may accept. So one example of the native token is Mana native token, which is only allowed to be used on the metaverse, very popular metaverse, which is the Centraland and similarly, there is another native token, which is called Gala, which is only allowed by the gala metaverse. They do not allow any other cryptocurrency to be used.

So that is the choice of the metaverse administrators, how they want to configure their metaverse. Now, friends in Step number four, the customer has to link a compatible digital wallet to the business platform account. So the account which he has created on the metaverse, he has to link a compatible digital wallet, which can be Meta- mask, or it can be coinswitch kuber, or many other digital wallets, which are available, like Venly or many others.

So friends in Step number five, the customer has to fund the digital wallet with the particular cryptocurrency, which is accepted by that particular metaverse, and that is compatible with that particular digital wallet and the platform. So without this funding, he cannot make any transaction. So, for example, a particular nft cost, anything between 10000 to 15000 or 20000 dollars, the equivalent amount of ethereum or whatever the cryptocurrency, Mana or Gala. Those cryptocurrencies have to be funded has to be populated in the digital wallet.

So I've already given the ideas about the Mana and Gala. So it is very similar to that. So in this step, number six friends, the customer has to then press the buy button. And if it is already funded, if the digital wallet is already funded, the buy button will become active. And by pressing the buy button, he will be able to purchase that particular NFT and the shipments of goods and services associated with that particular NFT. Now, friends in Step number seven, the customer if he has already completed this transaction by pressing the buy button. The goods in the form of NFT is purchased by the customer and is stored in the form of an NFT in his linked digital wallet, and the customer will be able to view the acquired Goods units under the NFTs tab in his digital wallet.

So in the step, number seven he will be the proud owner of that particular NFT and the associated assets, the real-world assets, which are there with the NFT. It will be in the form of the single container, or several containers, the goods, or it can also be services. So, friends, these are the seven steps. By using these steps, a customer will be able to buy Goods or services on a particular virtual world that is the metaverse. So, friends, I hope this simple step-by-step video was helpful in explaining to you that what is the customer experience on a business metaverse for trading international trading metaverse and how the transactions will be taking place from the perspective of the customer?

So, friends, if you liked this video, kindly comment on this video. If you have any suggestions or any additional inputs on this particular step by step guide, do write to me. Thank you very much.

Hello, friends. Welcome back to the course. So friends now I'll share with you. That what happens after the NFTs are purchased by the customer? So it is important to understand that how the NFTs are to be handled, what options are available to the customer after he has purchased the NFT? So in this particular video I will talk about what are these options which are available to the customers after they have purchased NFTs in a business metaverse.

So these NFTs, are basically the goods and shipment. NFTs or services NFTs how they have to be used? So Friends, in the case of business metaverse and the purchase of the goods or services NFTs by the customers, there can be two types of NFTs, nonfungible tokens, one type is the instant converts, which means the nonfungible tokens, which can be instantly converted into real-life shipments. Real world shipments, which means the customer can simply contact the address and the contact point which are mentioned in the details of the NFT and take possession of the goods, or it can get these services started.

If it is in service form. So in the case of the first type, that is the instant converts. These can be redeemed immediately or up to a certain date. So there is a time period will be there that it can be converted now and until a particular date. These can be redeemed for real world shipments, in the listed countries or cities. So whatever is the conditions which are there, which were there? when NFTs were purchased, those conditions would be there and those limitations of the cities where the shipments are available, the models which have been purchased those quantities and shipment which are available, they can be converted into real world shipments instantly.

The second type Friends are the NFTs, which are date converts, which means there are certain dates within which these NFTs would be valid in a future time. So these will be redeemable on a later date. A date range would be specified in the description and details and the conditions of the NFT. So this is the second type. So let us look at the two different types of these NFTs, how they have to be handled by the customers. What options are available to the customers to use those NFTs?

So talking about the handling of the instant converts instantly convertible NFTs customer would have following options, the first very obvious option, which is available to the customer of the instant convert type NFT, is to redeem them immediately for the real shipments. As per the quantities which are mentioned, whatever is the eligible quantity, eligible countries, eligible locations?

So the customer will be able to redeem immediately for the real shipments, that is one option. Second option is that customer can sell it in the NFTs markets or at the metaverse at a profit or loss. So I will give you the examples of such markets in my next slide that where the NFTs can be sold or definitely they can be sold on the business metaverse and friends. another option which is available for the customer is to use the grace period, which is available the number of days which are available the last date until which the instant converts.

NFTs can be redeemed to borrow or for staking. So if you want to borrow some money, if you think that you do not have the space to keep the goods or there are some other problems, you want to gain some time and he's having problem of the money he can borrow and for staking. But generally, the time period will be so short that the option number three will not be very feasible. Generally, it will not be feasible, but it will be available. So these are the different options which are available for the Instant converts.

Now What about the handling of the date converts for the customers? So which means the NFTs which have a future date when they can be redeemed. So friends, the options to the customers in such case is first to wait until the due date to convert the date convert NFTs into the real world shipments in the countries, in the cities where they are available, as per the different conditions and quantities and eligibilities which have been mentioned when NFTs were purchased.

The second option to the customer is wait until near the due date to sell on profit. So the NFTs can be sold, it can be traded on the metaverse or on the different marketplaces, which I'll give you the example. So the third option which is available is to borrow, which means the customer against the NFTs can borrow funds. So some of the examples of the funds where the borrowing can happen against NFTs is NFTfi dot com or drops dot co, which is Drops loans website. So you can borrow up to 80 percent, generally 80 percent of the market value.

So there is no hard and fast rule about the 80 percent, but this is generally the trend in the market, so it is possible to borrow funds against the NFTs. So the NFT actual value, market value will be judged by the marketplace, where the value which you spend on the NFTs will not matter. What really matters is the market value, which will be actually more than the investment which you have made, or maybe less. So depending on the situation.

And the fourth option, which the customer has for handling the date converts is to invite stakes which means invite other business persons, traders to have stakes in the goods and shipments or services. So those stakes can be invited on market platforms, NFT platforms like Kira Network or NFTX or Splinter Lands or only1s. So there are many other marketplaces where staking is possible against NFTs.

So now, I will talk about the step-by-step method by which a trader would be able to sell the goods or services by transforming them to NFTs on business metaverse. So Friends, how do these manufacturers traders actually sell on Metaverse? So obviously the first step would be for the manufacturers or traders to login to the metaverse of the choice. Business metaverse of the choice. The second step would be the creation of the profile of the manufacturer, the company, the trader or a particular brand.

So the profile creation can be very simple. Maybe in the form of listing only, or it can be much more serious. For example, listing plus the complete 3D infrastructure, the land, the showrooms, the different types of voxel assets like products or services voxels or map addresses, or the locations, virtual events, virtual tours, product demos, factory virtual visits or warehouse virtual visits. So depending on the seriousness by which a trader or manufacturer is having a stake on the business Metaverse and the involvement with the business metaverse, a trader may have different types of listings. Now in step number three, the trader has to create the NFTs.

And these can be, as I have already mentioned, instant converts or date converts. 2 types of NFTs would be possible. So the NFTs have to be actually uploaded in step number four on the business metaverse. So these NFTs can be product or Model wise, or it can be date converts NFTs in the form of monthly shipment wise. So different possibilities can be there. Then in step number five detailed instructions on how to convert for the customers.

The complete descriptions the different conditions of sales has to be created and uploaded on the NFT marketplaces like OpenSea or many other different kinds of marketplaces where it can be done. In step number six. The trader or the manufacturer has to make the goods available worldwide, maybe in the form of monthly shipments or quarterly shipments. But generally bulk shipments, which would be country wise or city wise which can be either supplied to the bonded warehouse, which means not customs cleared or the DTA warehouse, which means the duty paid and customs cleared.

So different possibilities are there of making the goods available, and those conditions and info has to be provided in the NFTs because the pricing will change accordingly. Then in step number seven. The trader or the manufacturer has to monitor the sales, maintain visitors record on the listing or on the 3D infrastructure or on the locations, and maintain the record of the offers, queries which means the customers making different kinds of offers, which still has not been converted into the transactions or their queries, or offer discounts to the customers in case of any slow-moving NFTs on date converts,especially on date converts the discounts can be offered if required, or it can actually escalate the price also on the date converts. It is also possible.

So in step number eight, the trader or the manufacturer has to carry out the post-sales services activities. For example, helping the new owners or the clients who have bought the NFTs on how to deal with the NFTs and coordinating with them about the availability of the goods as promised in the NFTs.

At present Metaverse is a Project In Progress. But soon it will emerge as the mainstream platform to do all kinds of real-world activities, in more pronounced form. Be it business, education, health, etc.

Now friends in this space. Let us also talk about that. What are the future developments which are still to happen in this particular business metaverse space? So one of the very important future development, which is very much sought by the international traders, is the merchandise

NFTs insurance facilities. So in case of any problems with the NFTs, the failure of the issuer to honor the NFTs. If the insurance is available, it will significantly increase the utility of the NFTs. Another future development, which is very much welcome, is NFTs issuer's, ratings services and certification services. So such companies, which would be able to authenticate and ratify and certify the reputation of the issuers so that will definitely help.

And the rating system, which would be user-driven or the consumer-driven, the earlier customer who have used the NFTs of particular issuer, such rating arrangements, which are possible on the platform, will definitely help the traders. And the third very sought-after future development is the NFT plus services. Some of the examples of the NFT Plus services are making shipments available in non-listed countries or cities, which are given in the NFTs. So going beyond the conditions of the NFTs, if some organizations will make the services available, which will be linked to NFTs, and which will have some NFT plus addendum or additional NFTs, those services converted into the NFT Plus tokens.

So those things are very much welcome and they are going to happen very soon actually. In fact, Friends, let me tell you that all big companies have already started working on these ideas and the ecosystem of the business metaverse. In fact, Facebook main company that is Meta is already spending millions and millions of dollars on developing all these kind of facilities for these small and medium sized enterprises.

And very soon you'll see the speed at which these developments are taken place. It will be no time when all these facilities will be available to the international traders in a very smooth manner, and it'll make life of these small enterprises, especially the small international traders. Very easy and safe.

Choose the one that is best

The early advantage of the technology clearly goes to established brands and large organizations. However, the major action in the Metaverse is likely to emerge from the small businesses.

Hello, friends. So, friends, the very important issue, which remains, is that whatever we have discussed in the this course regarding the metaverse and the benefits of metaverse and the operations of Metaverse. The concepts which are discussed are more suited for the large companies, big brands, very well-known companies, the companies on which the traders can really expect that the things will be honored, the things will be taken care of by the professional management of those companies.

So many of the commitments which are made in the metaverse by the large companies, big brands will be very much suitable for the things which we have discussed in this course. But friends, the main purpose of the new technology that is metaverse and its role in international business, global business is to help the small and medium exporters, importers, traders. That is the most important thing.

So how to do that? Already What is happening in the metaverse space? What has happened that big brands, the likes of H&M or the Nike or many others, they have already made big inroads. They have already used the technology to reduce their cost to optimize their operations, improve efficiency of the international logistics.

They've already achieved a lot of benefits of these concpets, which I have discussed, but the real action remains to be seen for the small and medium exporters, and the main benefits will accrue to these businesses because they cannot really afford very high cost operations or dealing with the international banks and using them for ensuring the international payments or to deal with the intermediaries or the things like quality inspection. So everything cost a lot of money because of which the small and medium exporters find it very, very difficult to compete with the large and organized businesses in the international trade.

So friends The main benefit will be seen actually for small and medium enterprises. So friends, the very important area in terms of understanding these solutions for the small and medium enterprises, the Metaverse solutions requires the understanding of the role of so-called connected devices or connected assets, the sensors, Internet of Things devices or IoT devices. So we'll talk about these hardware, these physical items, which are revolutionising the way the small and medium enterprises, as well as the large organisations they are carrying out the link between the physical and the real world and the virtual world of metaverse.

So, in this particular section, we'll be talking about what are these solutions and what is being done for the small and medium enterprises who are the main target audience of any metaverse, which is going to become successful in the near future. And what are the different roles of the different hardware which I just talked about in making it possible? So we are talking of the exporters of both goods and services. So I will be also talking about the services exports. The special session I'll be taking in the section on the services export that is very, very important because services exports are mostly carried out by the small and medium enterprises.

Now, friends. First, let us understand what are the connected assets or connected devices. So almost anything in the real world, the physical world can be connected with the internet, using technology. And the main medium of this link between the physical world are the smart sensors, which can be attached to the physical world assets- boxes, the machines and many, many things, they can be attached to almost anything.

So almost anything can be recorded by the internet, and it becomes the smart assets or the IoT, Internet of Things so called internet of things. So this is really, really important because as soon as it gets converted into IoT, it gets a tracking number and it can be tracked and these assets can be certfied also. So whatever is the characteristics and description of those items? They can be certified also. So the technology to do this has already become affordable. So use of RFID or limited area input devices, which can collect data from the physical world and put it in the internet databases.

So these things have become much more affordable and solutions are available now. Many solutions friends are available, many companies are already working and they are very, very successful in providing the IoT solutions. So, friends, the biggest beneficiary of the connected assets or connected goods through Smart tags or the sensors are the goods which are related to international supply chains. And that is where the benefit for these small and medium enterprises, which are involved in international trade comes into picture.

So the moment the goods are certified, the goods are connected, the goods can be tracked and they can be converted into NFTs on metaverses, the other side, the buyers start generating the trust on the NFTs issued by the small and medium enterprises and so that is the missing link which was there in the basic concept where the reputed companies, if they issued the NFTs for the existing shipment or the future shipments, the people would have trusted and accepted.

But for the small and medium enterprises, it is very, very important to have the NFTs for the existing goods which are in IoT, which are rated, which are certified, which are inspected. So the volume solutions, which are very much affordable, are available for small and medium enterprises. And these solution with the new innovative solutions will provide almost all such capabilities, which the large businesses can carry out in metaverse. The same things can be carried over by the small and medium enterprises also, including the issuing of the NFTs for the future shipments.

So the rating system and the certification system, the VR certification system for the traders who are the participants in the Metaverse. All of these facilities and the role of intermediaries. The role of so-called tour guides or so-called metaverse business consultants or agents, it is possible to give the benefit of the technology to these small and medium enterprises also. And this is already started happening and it is going to be the very routine and usual feature of the Metaverse and the metaverse dominated international trade in the very near future.

So, I have just talked about the role of the smart sensors with a limited range, which can give the input. They can even give the input data to the connected devices and the networks IoT networks. So that is the important link between the physical world and the virtual world, actually. And the main purpose of these sensors is to collect data from the surrounding environment, so these networks collect the data from the environment and the sensors helps them to provide this data on the individual shipments or the machines or the machine parts or the machines sections or the flow process or the process elements of the operations.

All these areas, the surrounding environment can be brought into the IoT architecture. So the sensors or so-called things of the IoT system Internet of Things system form the front end, actually. So these are connected directly or indirectly to the IoT networks after signal conversion and processing. So these solutions are already in place and they are much more affordable now. So export shipments or boxes, export boxes can be made connected devices. They can be rated, they can be certified, they can be inspected and bulk inspection, bulk rating is possible for such shipments and brought into IoT. It is very affordable, cost-effective to have real-world export shipments on the Internet of Things, and therefore they can be converted easily into NFTs. And if they can be converted into NFTs, they can be easily traded on Metaverses.

Now The IoT devices and these solutions. So we have the solutions like international fleet solutions, for example, Toradex and others. There are many solutions which are available. End to end artificial intelligence solutions, for example, Locus solutions which are already available. There are many such alternatives which are available. So IoT devices can collect and transmit data. via these sensors and actuators and scalable cloud solutions and user friendly communication networks. So the cloud, the internet, the intranet, all possibilities are there, and the IoT is multi devices operations, which can be easily carried out, and they definitely provide the practical and affordable solutions for the compatibility with any kind of metaverse.

So some of the aspects of the IoT devices and solutions can be categorized into four major aspects of the connected ecosystem. When we are talking about the logistics like communications systems or the location tracking or the monitoring of the supply chain and the cyber security, so these are the different major aspects of these solutions. So the things like monitoring of the state of a driver and the vehicle, these are the examples. Real time object identification and tracking and showing proper storage conditions and proper product safety and effective transmission. Avoiding media breaks, thanks to extensive digitization. Delivery time estimation and remote control of the transportation processes.

So these are some of the examples which are categorizing into these four major aspects. So it's very vast subject, and it can be further studied in more details to prepare yourself for the Metaverse dominated future. But my idea was to give you a head start for this amazing technology, which is going to become the normal technology and normal feature of the international trade in the very near future. So these solutions helps in creating the metaverse solutions for the small and medium enterprises.

So, for example, IoT devices help create NFTs for export shipments and boxes. Goods can be tracked in real time through metaverse platforms or third party platforms directly actually, it is possible, and authenticity of the physical assets transformed into NFTs can be done through pre certificate goods and smart tags and sensors which are issued by the large intermediaries or the insurers, it is possible. So, friends, the solutions are there. The things have already started happening. They are going to become routine things. So it is time to prepare yourself for this new normal.

Hello, friends, welcome back. So Friends, one area which is very, very important for small and medium exporters and international trader is the services exports. Lot of increase is there a lot of growth is there worldwide of the small and medium exporters mostly dealing with the services exports. Services like consultancy services, educational products, training services, counseling services, Edu Tech Services, I.T. Services, ITeS services. So Friends, there are a range of services, very, very innovative areas related to industries like travel, tourism, education, finance, strategy, exports, international trade.

So many areas are covered under services exports. So Friends, in this particular video, I will talk about the metaverse advantage in the services exports and growing the company's fortunes in metaverse. So Friends one of the major advantage, major role of metaverse in boosting the services exports is its ability to combine the potent power of both VR, as well as AR. Virtual reality as well as augmented reality

So it is very much like the pizza delivery boy, who can fly and who can move very fast in the air so you can imagine what kind of efficiency and services a pizza delivery boy can provide. Taking another example, if you take the example of the education services, the people who are selling educational products internationally, imagine their presentations in the international market through metaverse in a very immersive environment is for 3D presentation rather than 2D representation and the presence felt in a classroom situation.

So imagine the educator giving the lecture with the 3D models in the air in front of him, and he can ask the students to enter into 3D areas and see for themselves that what is happening. For example, if he is training about the shipping lines, he can ask the students in the multiverse to take a tour of the commercial liner or a commercial tanker, and he can immediately create by a click of a button a 3D complete model of a commercial liner.

So this kind of knowledge, Friends is unparalleled. So the kind of learning which happens is very difficult to match with any other tool. So it is a much more advanced service delivery than what we already know, even in the real world. So Friends, that is the idea of boosting the value of these services exports through Meta. So Friends, almost all kinds of services can be traded and delivered through metaverse. If we talk about the services.

So Friends, metaverse is very important in adding value to such services. I gave you the example it can using the potent combination of VR and AR It can add enormous value to the service delivery. And it is, of course, immersive, real-life type experience because of the VR and because of the AR, it can provide you, 3D models, 3 D presentation of extreme value and Friends very importantly, it has the potential to save on the cost of delivery.

Imagine the delivery of the skills by an expert required the trainees to fly down to a particular country from all over the world, so you can imagine what kind of costs are involved in making it possible. So the same experience augmented by the augmented reality. Imagine it can be delivered through meta in a 3D environment, immersive, presence rich environment in a metaverse, do not require any of the trainees to fly down to. The account can be logged in from anywhere on the globe.

Now Some of the examples of these services, which can take a lot of value from the presence in Meta, are the services related to education and training, consultancy services, specialized education services. Including engineering services, including financial services, including all kinds of strategic management consultancy, then things like religious rituals, where in the presence of the experts', religious experts is required in a 3D environment and in an immersive experience. It is possible to provide this kind of religious rituals, which can be very lucrative for small and medium enterprises.

And of course, the students counseling, education counseling and executive coaching across the world by the experts from across the world and many of the consultancy and many of the guiding services which are available in the areas of travel and tourism. So these are only few examples. A very large range of services can be provided in a very augmented manner in Meta. Now as I have already mentioned to you, the most important advantage of Metaverse is that it provides digital infrastructure.

Taking advantage of both virtual reality and augmented reality. So virtual reality provides real life experience. Immersive experience, presence it provides. And augmented reality adds value to the services. It gives the experience, which is from the fantasy land, which is from an area which could only be imagined till now. Now it is possible in a metaverse, so I've given you many examples of that and in the next video I'll be sharing with you a case study of the trainer providing the training services and his story. In the next video, you will see the real story that case study will give you a better idea.

And friends, the material which is available in Metaverse, is easy to operate. The updates are much faster. The contents are of very updated value and it is an immersive technology, presence rich experience, easy to sell through the nonfungible tokens. It is safe also. So the payments are quick and safe. And it is available across the globe. Accessibility is unmatched in real time. It is very cost effective, online solutions. These are the metaverse advantages.

Hello, friends, I'm Dr. Vijesh Jain, I want to share with you my success story of using Metaverse for selling my services internationally. Friends, I am an international business trainer and I trained many, many people from different countries on the skills related to international trade, global business, global business strategy, international marketing, digital marketing, and the adoption of new technology in the area of international business. So friends, my students who are working executives in different countries of the world have been finding a lot of problems to get the effective training, which I wanted to give them.

The face to face training, which I was doing earlier was very costly because my students had to buy the international air tickets, they had to stay in New Delhi for at least one week training. And they had to spend a lot of money in the face to face training and then Friends after the pandemic, it became impossible to do the face-to-face training. And friends, I used Zoom application and different applications to provide the 2D type of interaction training, which again was not that effective because of the kind of interaction you require in order to understand the different sensitivities of international trade and the different skills of international trade required two way communication of a very, very different type.

It requires a lot of gestures, which was not there. So Friends what I was trying to find out, a solution wasn't 3D kind of solution, which provided the real classroom feeling to the trainees so they should be able to interact with me. They should be able to interact with each other in a confined room situation, not in a network situation of the type of what you will really find in a video conferencing kind of app like Zoom.

So it was not really working it out. The effectiveness was very, very poor in the 2D training.

So I needed 3D kind of training tools.

So I needed something virtual.

I needed something where each student learning can happen. So basically, I needed the presence felt. I needed the two way interaction. I needed something which is very close to real, but it gets the advantage of being virtual on being on internet. On being on a digital platform. So I was looking for something, some solution which can provide me the freedom to train, to bring the effectiveness to the skills provided by me to my students and they really feel good. They really feel that they have learned something and they have things now which they can apply in the practical world of the international trade.

So that kind of solution, I was looking for. So friends I found something. So friends, I came to know about a platform offered by the Meta company, which is the Facebook company actually who provided the office space, virtual office space in their metaverse, along with the training room and expandable training halls. Those kind of infrastructure was available, and it was very much affordable. So it was not at all costly. What was needed actually was the space which I needed on Metaverse, and I had to create the 3D voxel infrastructure in the form of the furniture, the sitting area, the table, the OHP - the overhead projector kind of voxel objects. So these kind of things I needed. So Friends This metaverse platform provided me so many free tools to create all the 3D objects in a very, very user friendly manner and everything I could create, basic things, like chairs, tables, the OHP screen and everything I could create, which I needed for training purposes. Some training tools, some objects, voxel objects for training purpose.

I was able to create almost free of cost using the different free tools available on the metaverse. So now my complete infrastructure was ready and what I needed was actually to create all these things and to use this infrastructure, I needed a VR headset, which costed me something like $300. And of course, all my trainees would be needing a VR headset to enter. So, Friends, the VR headset, which my trainees had to purchase, was useful for all kinds of metaverses and for different applications in 3D space.

So that was to be used universally for any applications of metaverses and virtual reality. So it was very, very useful gadget for my trainees and nobody minded to buy a VR headset and my trainee, are located it in more than 185 countries. And there was no handicap of the location, so they could easily login to their account which they created in my office metaverse. And they had to get the link of my office and enter into my office using the VR headset. And that's it.

So, Friends, I arranged for a demo class, training session and I invited trainees from all over the world and who had been my past students who had visited me on face to face trainings in the past. So Iarranged this virtual 3D metaverse based training session, demo session and around 12 trainees attended this session, and in this session I used every tool which was available and provided the presence of myself, the presence of the fellow students.

I used all different tools to carry out some management games also and demonstrated the different types of skills which are required for international trade in the session. And it was a great success. So Friends, basically, the students required the VR headset and they had to choose an Avataar on the Metaverse which was being used. And this Avataar they could use anywhere in the metaverse space on any metaverse, so it was a universal Avataar they could choose.

They can change also later on, and the Avataar can be very realistic. It can be of a different type also. Whatever the liking of the students were there. the avatars were chosen by the students and using those of avtaars and the VR headset, they entered my room and we had a great session. And after the session, I sent them a feedback questionnaire and I asked whether they felt any significant difference in the learning and in the effectiveness of the training vis a vis the earlier ones, and the feedback Friends from the questionnaire was very, very encouraging. Students really liked this whole setup of metaverse, 3D virtual reality, augmented reality, and they could do a lot more.

They could feel the presence they could sense themselves in a real-life situation, a real experience. It was really amazing, as they replied, they felt it really very, very effective training, very skills building training, and it was really, really very motivating to get the feedback. And after that, there was no looking back. I have been doing this very frequently now regularly. My clients are there in many countries of the world.

In the last part of this case study, watch the 3D sample tour of the International Metaverse Based 3D training center. In the real experience using VR headsets, students and trainer have an immersive real-life experience of an advanced level.

Hello, friends, welcome back. So, friends, I will now take you to the short tour of metaverse voxel assets, training center on a metaverse. So just have a look how it looks like? So it will give you some idea about what kind of educational training value addition can be done on metaverse, please have a look

And. So, friends, this was a small tour which I wanted to show you on metaverse, so things are in progress and it will be much more sophisticated in time to come. Thanks for visiting.

I'm sure you must have liked this small case study, which I shared with you in my last video.According to this case study and which is a real case study, the trainer was able to make a major headway internationally and boost his business, of training people from around the world with the help of the VR and AR and using the 3D presentations.

Immersive real-life experience with the experiential learning very high level of experiential learning for the trainees.

So friends based on this case study, I have given you one OPTIONAL assignment also. You can see the next optional assignment, which I would like you to participate into, if you wish.

Choose the one that is best

Welcome back to the course on preparing yourself for the Metaverse dominated future of global business. Friends I will now take up a very interesting case study on the possible ideas for metaverse, business ideas. And right now I'm taking this case study to give you a business idea for the services exports. So this particular metaverse case study has been prepared by me based on some real events and the names of the places and the persons have been changed for privacy reasons, but the events are real.

So, Friends, the title of this case study is exports of marriage services on metaverse. And of course, we are talking of the marriage services on an international scale. So Friends this study relates to the company, the name of which is Band Baaja Celebrations Private Limited. So this company started operations in 2010. The company is an event management company, especially focusing on marriage functions. So it specializes in carrying out the marriage events, wedding events comprising of all different rituals.

It can be two days, three days or even one week-long events. So this company specializes in those kind of events. Their main clients are the nonresident Indians till very recently, mostly living in the countries like North America and UK. So the NRIs is the non-resident Indians. were their main clients. They specialized in arranging the wedding ceremonies and the events related to marriages on an international scale.

They arranged physical functions in India and abroad in different locations of the world. They specialized in such kinds of destination marriages, so their specialty was the exotic destination weddings, cruise weddings or island wedding. So these had been their main forte for this company. So friends, after the start of the pandemic in early 2020, the company started facing the heat. They faced the challenges of getting the clients, getting the business and doing the business the way they had been doing for so many years.

So they had been facing challenges due to airline embargoes or event embargoes, moving to different locations, even within India. It was very, very difficult. Difficulty in arranging good destinations. Rather, they were not able to actually arrange any international destination. Premium segments were already sinking. The clients, who were the regular word of mouth clients, the communities, the NRI communities, the Diaspora from India, they had been sinking due to the economic hardship resulting from the loss of business or loss of the jobs and employment among the Indians living abroad, in IT sector or non-IT sectors.

So the company could easily see that things were not going in the way they had been going earlier. The growth was not there, rather business was sinking actually. So The company thought of sitting down and doing some brainstorming with the team of the company, because everybody was feeling the heat and it was becoming difficult for the company to sustain the people and pay them salaries. So they arranged for a brainstorming session for talking about some innovative ideas, how the business can be run in this new situation.

So the different aspects were discussed and things came out like -

1. Can online events be done?

2. Can the company do the so-called online events?

3. And there was a lot of skepticism on this and the fact that whether the customers will be interested in online kind of events?

4. So it was an untried thing and what will be the format if at all, there are some online events?

5. How to market internationally such events?

6. Will the customer pay for such kind of online events?

7. Who will be the target customers?

8. Will they be the existing customers?

The NRIs the pockets where the company had been very, very strong in North America and UK or the company had to do some really very radical changes the way it operates with the existing strengths, weaknesses and opportunities and threats for the company. And of course, the threat is very, really clear about the absolute nonexistence of the business during pandemic. So they had been talking about all these things in a very concerted manner. All the team members, they were talking about it.

So they realized that there may be a possibility of doing something online. And looking at the situation of the pandemic right now and the emerging situation in the foreseeable future, the online thing is likely to remain, but how to do it, whether the type of things which they normally know and do that is the 2D zoom events or gatherings, it will be absolutely no no. It is OK for business meetings or for some personal get-together of the friends and relatives. That is OK, but the kind of events which the company specializes into, the more serious kind of events like marriage functions and weddings.

Absolutely, These kinds of 2D event would be laughable. Actually, it may not work, and it is not easy to generate an income from such events, this way. So the question was -

1. How to add the WOW factor?

2. How to bring some excitement to the events done online?

3. How to bring the real participation by all the people who are invited for such events?

4. The guests who are supposed to participate. and all types of people who play some role in such kind of functions?

5. How do they come into the picture and bring the presence and the immersive experience

That was the key. That is what some of the participants in the meeting, they said that

1. how to bring that immersive experience?

2. how to bring that the presence of each other in a particular event?

And that only can bring the participation. That only can bring that to a participative gathering of such events. So that was missing and whether it is possible to use the technology to bring such kind of excitement and Wow factor and participation, presence and immersive experience.

Can technology help in that?

So to bring the novelty which is the cornerstone of such kind of events?

The innovative designing, stage designing, atmosphere creation, novel ideas of creating the themes of the event.

So how to bring all these things online?

How the technology can help?

So one of the participants in the meeting suggested the idea of Metaverse. Can a metaverse provide the solution to bring all these novelties in the events, the wedding events, the serious events?

And can it bring business?

Can it bring money?

Can Metaverse help?

So the idea of metaverse, although many of the participants knew about it, but they had not thought of metaverse as a solution, and it looked that it is possible.

So what they realized that the Metaverse offers the use of virtual reality, augmented reality, mixed reality and extended reality, which possibly can bring a lot of excitement to such events, can bring the presence and the immersive experience. And also add fantasy, novelty, and art. So many things actually is possible. It seemed in the meeting that Metaverse can actually bring it. But how to do it? Wow factor is there. Participation is possible.

The price can be obtained for such events because they'll be the events that required a lot of teamwork and a lot of preplanning and a lot of things were there in this kind of solution. So the possibility of income looked real in this, at least on the face of it. So what they realized that unlimited novelty can be added. A lot of art can be added. A lot of 3D objects can be added, and they actually can be clubbed with augmented reality to bring the fantasy, the themes, which normally is not possible in physical world.

So it looked on the face of it that the scope of income is high in this kind of solution. And the question remained whether the customer will be interested? So nobody could really answer to that question that whether the customer will be really interested in that kind of solution? but it looks like it is worth trying this kind of solution. So to give a try to this idea, the director, who was heading the meeting. So he thought of giving it a try.

So he wanted to know

what kind of resources are needed for such kind of solution?

Do we have the metaverse team in place or we have to hire some people in this kind of thing, even for some trial functions?

What kind of steam is required? Do we have the demo to do market research?

Can we do some kind of demo and tell the clients that what they can expect from such events on Metaverse?

Can the team could do some small events to start with on metaverse and see how they come out and how the results of such small events?

So the team gave a very serious thought about it, and they found that a lot of things were already there with the company because the company had been doing a lot of experimentation in the past. So they were in a position to do some small events like birthday parties. And what they found that this idea actually reverberated very positively with the existing customers from abroad, the NRIs, based in North America and U.K. And they saw a lot of positive interest among the existing clients.

So they actually arranged for certain events, small events like birthday parties or some kind of gatherings. And what they found, they actually did such events, and they found that the results were very exciting, very positive, and they saw a lot of scope for the more serious events like weddings at this stage after doing these small events. They went ahead with this another two three weeks. They carried out these kind of activities.

Now finally, when they were sure that the results seem to be positive and income potential is there and the team is in place to take up a more serious kind of event. So what they did, they arranged the interest of one of the customers, the existing customer who was actually interested in a full-fledged metaverse-based wedding. So the format decided was a mixed event that included some fantasies, the wow factor, in the form of some augmented reality, mixed reality in the metaverse. And the trick was the virtual reality, augmented reality and mixed reality, which was to play the trick.

So they had many Avatars in place for the bride and groom. Some of the choices were very, very close to the real pictures of the bride and the groom, and for the close relatives and guests, key guests. So they had all these kinds of choices available, even the dresses choices were there, they could choose their own dresses for the Avatars according to their liking, for the bride and the groom, and the different dresses for different events and the hairstyles.

And so many things choices were there, that they could easily arrange with the team. And they had a very good collection of the Voxel objects for, suitable for such kind of serious wedding events on Metaverse. And they already had in place the digital venue, good size of digital venue and the virtual reality decoration, including the augmented reality decoration, which actually brought some kind of fantasy and special effects actually were possible on this, and they had things in place. And this particular client actually selected to their own liking of the bride and the groom and the key people from both sides. They agreed on the choices of after the choices of the decoration stage decoration, the theme of the reception and the particular event, like a theme like Harry Potter, Harry Potter's world theme, which was very, which came out to be a very popular theme. So actually, they could take up this particular event very seriously.

The result was that the Metaverse wedding event, which they did, the first event, came out to be a great success. Very exciting kind of event. It was. And it was done by the complete, full-fledged metaverse team and the support team and the people, the creative team. Everybody contributed to the success of this metaverse wedding. A lot of choices were there for the Avatars and role players were in place like the DJ, the live singers who participated.

There were live songs with augmented Reality and The Panditji, the Metaverse based panditji But the role was played by the real Panditji who chose the right Avatar and actually recited the hymns for the marriage. So all these things were in place. And there were choices of the stage and seating arrangements, which was actually liked very much by the guests. And actually lot of new inquiries were coming. So decorations, 3D voxel objects were very good in place, and they suited the event very well.

Lot of virtual reality effects, live event effect, 3D themed reception. As I told you the Harry Potter world theme game came out to be a very popular theme for some of the events and there was great participation from all over the world for the guest, the guests from different countries of the client. they participated from across the borders. What they needed actually were the VR Handsets, so that had to be arranged.

So nobody minded because even otherwise, they were saving on a lot of cost of travel from one country to another country to participate in the marriage functions. So the investment in the VR headset by the guests and the participant was very much forthcoming. So the company also provided the complete footage, 3D and 2D video shoot footage of the complete event, complete coverage of the event with great special effects. So that was the shining moment actually. The kind of coverage they could do for this event was outstanding. So overall, the event was very much success and a lot of enquiries were there and they had plans to carry out that kind of event further, with the other clients from among the guests who participated in the first event, they could get some clients. And the result was, business results after certain time was that the volume of business actually increased for the company. Individual events, although they were of the small ticket sizes from the finance point of view, they were actually win-win for the client because the cost was much less being in the virtual world.

But the number of events in the kitty started increasing for the company, and the overall profitability for the evets was very, very high because of the nature of the events, which did not require heavy investment for the company also. And for the client, it was good. The results were actually very good. The excitement was very good. The learning curve for the company came out to be very, very strong from the first event to second event to third event, the results exponentially improved.

The impact and the effect and the quality of the themes increased and improved manifolds, with the time. And the business inquiries started pouring in for the company from all over the world, including from the non-Indian origin clients. So that was a very interesting thing for the company. They were getting business from the countries where they had never done any business and from the clients of different nationalities.

So Friends, the overall, company actually found this success in the metaverse solution for the type of business which company had been doing. And going forward, they could really find a lot of merits in the metaverse based wedding events planning.