
Hi, Welcome to the course. The instructor of this course encourages you to introduce yourself to the other students of this course by writing a short note about yourself in the Q&A section of this course. Also, write a few lines of why this subject attracted your attention. Watch the next video to know more about this course and its contents.
Good day, friends. Welcome to this new course in the VJ Exports Mastery Series of courses on Udemy. Do you remember? when the 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.com, which was Web 1.0.
But we are in the era of Web 3.0. What is this Web 3.0 & how can you create a big fortune out of this Web 3.0 like the fortunes which are made by people in the Web 1.0 era? In this course, I'll be talking about the most interesting and disruptive technologies that are part of 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 that are connected with Web 3.0. A lot is already happening, and things have actually really changed.
Many things are not clearly known to the people in this area. And if you can learn it early, not only can you 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. 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 can you create your own metaverse? How can you sell the virtual assets or so-called Meta assets on these metaverses? How can you create your own marketplace on the metaverses? How can you create voxel objects, so-called voxel objects, on these metaverse platforms? And overall, how can you understand the future of international trade, which is emerging in an absolutely new Avatar in virtual reality? And how can these be connected with the physical assets, the physical export shipments, the goods, and the services?
This course will talk about all these concepts so that you feel confident in making a great career in these areas and start earning. In the next video, I will be making a formal introduction to the course, so you have a fairly good idea of what is covered in this course.
And that is the actual theme of this course? Thanks for joining this course.
This is a crucial lecture of this course where the instructor shares important tips for smooth audio and video streaming of the course to match your personal rythm.
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 and foreign trade operations. The role of virtual reality, artificial intelligence, and blockchain is increasing day by day, and it is entering every sphere of business and society. Friends, the future of international business is also changing, and this course addresses this issue by giving you the knowledge and training to prepare for the emerging technological advancements happening in the era of virtual reality and its role in international trade.
Friends, this course, titled Preparing for the Metaverse-Dominated Future of International Business, is a very special course that can help you prepare yourself for a fast-emerging, high-voltage, highly rewarding career in the metaverse space. Friends, in this first introduction to the course, the objective is to understand how 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, to understand what businesses can do inside the metaverse. Some of these objectives will be addressed in this particular introduction. And lastly, to understand what pending or tricky issues remain to be resolved. Friends, the introduction of this course will provide you with a great insight into what is covered in this course.
Friends, it is interesting to understand that already a $1 trillion opportunity has emerged in the metaverse space. You will soon understand what the metaverse is and what its role is in the emerging future landscape of business, both domestic and international. Friends, now is the time to start preparing for the 3D virtual reality metaverse-dominated future of global business.
This is the statement by many experts and organizations of repute in the world. For example, Morgan Stanley says the next big investment theme is the metaverse space. Forbes and Wall Street say that the next biggest disruptive business technology after the internet is the metaverse. Friends, all big shots and all big consulting firms are talking about the metaverse. Let us understand the things we need to know in this space.
While not many may be following the trends, it is being observed that the Metaverse has the potential to change the landscape of businesses from 2D to 3D and impact it more than even what the internet did.
Let us address the first question: how will the metaverse change the business landscape? Friends, the metaverse mimics the physics of the real world while introducing the advantages of the virtual world, with business dealings using existing artificial intelligence and VR technologies. Friends, it is just like walking in the virtual world, defying the limitations of gravity and the speed of motion.
You have certain advantages because you are in the virtual space, but you are acting in a real space. 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. Friends, the possibilities are immense. The end-user base can be reduced drastically in the metaverse space.
International logistics costs can be further drastically reduced. In addition, the metaverse has immense business implications. Some of the examples are enabling high-touch interactions for remote users, global employees, and customers. Friends, it is definitely going to create face-to-face 3D meetings, enhancing or improving the work-from-home experience. Friends, customers can explore locations, try new products, and even test customizations without having to travel to a physical store.
These are some of the examples of the business implications, not to forget about 3D data presentation. Graduating from the 2D presentations of the present times, 3D data presentations in business are going to revolutionize the way people communicate via hands. Friends, other possible applications of the metaverse in the emerging business landscape are virtual customer visits, new product 3D VR launches, 3D VR conferences, 3D buyer-seller meets, 3D VR trade shows and exhibitions, and 3D VR product showrooms. Many other innovative applications can also emerge.
As things evolve, friends, you will see that now and then something new will come, which will defy real-world logic—things that are so-called above the real world. This is already happening in the virtual space in the form of some very successful examples of metaverses like Decentraland, Sandbox, and Epic Games. You can go to these sites and see that things are already happening with virtual assets.
We will be focusing in this course on physical, real-world assets and how we can put them in marketplaces that are based on the metaverse. That will be the objective of this course.
Friends, in other words, a metaverse will be a new country with no trade barriers as far as global business is concerned.
Metaverse acts like a new virtual reality country with no trade barriers.
You can say that global trade can take place on these platforms without geographic constraints. Even entire trading marketplaces and stock exchanges will be coming to the metaverse, servicing a much larger pool of participants and investors than possible in the real world.
Obviously, if the pool of participants and investors is so high and definitely much more significant than in the real world, the benefits of having marketplaces and conducting business in the metaverse space will be very welcome.
Now, the other aspect of the metaverse space in the future landscape of business is understanding the role of so-called NFTs, non-fungible tokens, cryptos, and blockchain. Metaverse is basically decentralized in nature, and if it is decentralized, it can only be serviced using blockchain, which has the characteristic that nobody owns it and nobody manages it.
It is fully independent of a central authority. It is fully decentralized. The metaverse assets, the so-called meta assets, are tradable and ownable. To manage tradability and ownership, blockchain technology is the only technology available at present.
Crypto and NFTs ensure these assets are known interchangeably, which means they can retain their value in the virtual world. It is not possible without the use of cryptos and NFTs. It is not possible. Therefore, the metaverse economy is based on blockchain technology.
These are the things that need to be understood very well.
Friends, let us try to understand what businesses can do inside the Metaverse. As per the existing knowledge, what can businesses do? I will explain to you. But let me tell you, the applications are unlimited. Some of the things we know, as of today’s understanding, fall into three important areas.
The first one is that businesses can provide services for the Metaverse. The participants and investors need Meta assets, which are in the form of 3D voxel assets, voxel objects, or so-called voxel things. Businesses can service this requirement in the form of Voxel Creators.
Voxel creators create voxel objects, transform them into NFTs, and put them in the Metaverse marketplaces. The second example of services that can be provided by businesses in the emerging Metaverse space is to act as Tour Guides for virtual locations. These are very complicated metaverses, and without the guidance of experts about high-traffic or beneficial locations, the system is unlikely to work. Businesses can provide tour guides.
They will be something very similar to what you know as business consultants in the real world. They can also be like business agents in the real world. Consultants or business agents of the real world will perform similar kinds of work as tour guides in virtual locations.
Secondly, friends, businesses can sell Meta assets as non-fungible tokens (NFTs), which I mentioned earlier. Sales, purchases, or even investments in Meta assets can be done by businesses at present. Friends, these Meta assets can be in the form of virtual assets or even physical assets linked through the Internet of Things (IoT). I will explain in this course how they can be linked through the Internet of Things (IoT). The third very important area for businesses in the emerging Metaverse space is advertising real-world products in the VR or Metaverse space.
Friends, this includes digital billboards outside virtual collaboration spaces, product placements in VR games or other high-traffic locations, and end-to-end brand storytelling experiences, like what is already being done by the likes of Nikeland, or downloadable brand offerings that reinforce product recall for physical stores. Friends, these things are already being demonstrated very successfully.
These are the things that can still be done. In addition, the biggest opportunity exists for Metaverse creators, who can create simple marketplaces for carrying out international trade and start selling Meta assets—the very basic Meta assets, like Land, Digital Land, or Virtual Land. It is already happening, and it can be done very fast, generating a lot of money.
Like any other disruptive technology, the Metaverse also poses certain challenges, which are being taken care of. In spite of these challenges, technology is going to rule the trade.
Certain challenges are actually not difficult, and eventually, these challenges will be overcome.
Some of these challenges are the high instability of cryptocurrencies. We know that prices vary very fast and very significantly in most of the cryptocurrencies that are based on blockchain. This becomes and remains a major challenge.
Similarly, putting in place the regulatory mechanism for carrying out global trade in metaverses is very challenging, because so many governments are involved, and we are talking about virtual countries without trade barriers. How the different countries and their rules can be enforced is going to be a major challenge, but it can be done, given the benefits it can bring to the different economies of the world.
Another perceived challenge being observed at present is the risk associated with large brands and market leaders getting the initial advantages of a head start and possibly monopolizing ad messaging. It is already happening with brands like Gucci, Nike, and Coca-Cola, which are already making major inroads, making it very difficult for newcomers to compete with them.
These kinds of challenges remain.
Now, let us talk about what topics are covered in this course. Topics like the basic concepts of what the metaverse is, what decentralized finance (DeFi) is, what NFTs are, what Web 3.0 is, and related areas are covered in this course.
Secondly, what is covered in this course is how to create your own metaverse-based marketplace. Basic ideas are given to help you get started with your own metaverse creation.
Thirdly, how you can start selling the meta assets in your own metaverse-based marketplace is discussed.
Next, what is discussed is how the metaverse’s global business operations are to be carried out. Also covered in this course are some of the solutions for small and medium exporters. I will tell you why special treatment is required for small and medium exporters, what advantages and disadvantages they may have in the emerging metaverse space.
We will also be talking about the future developments in the metaverse space.
These are the topics that are covered in this course.
AI-Powered Role plays are business simulation activities that are new and exciting for better learning in this course. But you must understand how to take up these activities. In the next lecture, Dr. Jain will discuss some important instructions to get a better experience with these AI-powered activities.
In Web 1.0 with limited tools, Jack Ma from China created Alibaba, one of the richest MNCs in the world today. Metaverse provides another chance of a similar type for anyone ready to take it.
Hello, friends. Today, I'm going to take up a very interesting topic. In this video, I will tell you how you can create your own Alibaba-type international foreign trade forum or portal with a totally new technology. Because, friends, as you must know, when Alibaba was started by Jack Ma, he did not know about internet technology. He studied this when he went to the US, came to know about this technology, learned it, and created Alibaba.com.
Any new technology, whether you know it or not, can be a good opportunity for you to create something very big. I will tell you today about a new technology that is a revolution—the biggest revolution after the internet. It has now become a real application-use technology. In this video, I will try to explain to you how it is possible to create an Alibaba-type foreign trade portal of your own, which can be a very big thing. You can create a general foreign trade forum.
You can create a specialized trade portal, which is called FT VR Metaverse. I will tell you what this FT VR Metaverse is in this video, and what the role of NFTs and the role of DeFi are. You may 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 the internet can provide you with an opportunity to create something as big as what Jack Ma did 20 years ago. You can do something similar.
I will try to give you ideas in this video. Friends, the objectives of this video are: how to create an Alibaba-type FT, that is, Foreign Trade VR (Virtual Reality) Metaverse platform for international traders. It’s a new idea. You can take this idea and make something similar to what I’m trying to explain to you. The second objective, friends, is how this FT VR Metaverse can be useful for international traders in selling their goods and services overseas and exporting these goods and services.
Another objective is to find out whether this video can give you some examples of foreign trade virtual reality metaverse applications and transactions. Let me tell you that this whole concept of this video is based on the practical use of the blockchain ecosystem. I am talking about the new technology, which is blockchain.
Let us start with understanding what the metaverse actually is, and then I will tell you what the FT VR Metaverse is. Friends, a metaverse is a replica of the real-world VR experience online. What does this mean? Friends, if you noticed during the pandemic, many people were working from home. They were missing the real world and were working on Zoom or other video conferencing platforms, but the experience was not like the real world.
That missing part is provided by these virtual reality metaverses. They use the latest technology available online to provide you with a real-life experience, and not only provide real-life experience but also allow you to transact in a virtual situation, just like you transact in the real world. You can interact with people, you can transact with people, you can commit things to people, and you can actually buy and sell as well.
That is only possible because the metaverse real-world VR experience online is based on blockchain technology. Friends, this is the main idea I am going to talk to you about in this video today. Some real-life examples of the metaverse, which are already available and you can check on the internet, are Decentraland, Gala Games, and Sandbox. Friends, in this metaverse ecosystem, there is also the role of cryptocurrencies specific to each particular metaverse, which are already available.
Or you can create a metaverse according to your own vision and mission, which is called Metaverse Tokens. These are specific cryptocurrencies created for transacting on a particular metaverse, enabling real-world type transactions in the metaverse along with the virtual reality experience. Examples of such metaverse tokens are MANA, which is available on Decentraland, or GALA, which is available on Gala Games.
The examples I just shared with you of the metaverses are game-specific metaverses. But in this video, I am going to talk to you about business-specific metaverses, which are still to be created. You have the opportunity to create such metaverses, and that is where the opportunity exists to create something similar to what Jack Ma did 20–25 years ago in the foreign trade portal space.
Something really high-tech, something based on new technology, something based on blockchain, something that provides a more real experience—such a portal can be created. That is the opportunity that exists now. Let us see further.
Friends, what is an NFT, and what is the role of NFTs in the metaverse? I am going to talk about that. NFT stands for non-fungible tokens. What are these non-fungible tokens? These tokens are basically the actual connection between the real world and the metaverse. What we are talking about is that NFTs connect real-world knowledge—the things we see in the real world—with the metaverse through these so-called non-fungible tokens.
What is an NFT? NFTs are the digitized versions of real-world assets. What are real-world assets? Suppose you are a singer, for example, and you own some creation of yours, like a performance of a song that you might have created or recorded privately. If you are a famous person and people know you reasonably well, that particular performance can be converted into a digital asset and put on sale in the metaverse. That would be an exclusive performance. You have only one copy, which is digitized. To make sure it is the one exclusive copy available for auction or sale in a metaverse or on a platform where buying and selling can take place, blockchain technology ensures that your claim is correct. It supports your claim that this is a one-and-only copy, which is exclusive and available for sale.
I will give you one example. Recently, Amitabh Bachchan recited the poems of his father, Shri Harivansh Rai Bachchan. He recorded and digitized this particular recitation and put it on one of the metaverses for auction. This auction went on for a very short time, and the actual sale happened. The best bid for this digitized performance by Amitabh Bachchan sold for 7.5 crores.
This is one example. Common people can also create some artwork or technical work that is exclusive in nature, digitize it, and sell it on blockchain platforms. This ensures that it is an exclusive copy, non-repeatable, non-duplicable, and not sold to anybody else. It is possible, and that conversion of ownership into digital form on the metaverse is what is called a non-fungible token, or NFT. You can create an NFT of anything you want to sell in the metaverse.
For example, in our case, what we are trying to emphasize is the selling of goods actually converted into NFTs—shipments, production, or upcoming production. The sale of shipments internationally can be converted into NFTs and sold online. Blockchain technology will support your claim that whatever you say is correct. The algorithm will ensure that in the metaverse, in virtual reality, you are able to conduct transactions—buying and selling—safely and with confidence, without aberrations, just like in the real world.
When you do this in metaverses without actually making the shipments, you get the benefits of pre-planning and bulk shipments. You also gain cost advantages. I will show you how this helps people on the metaverses to get a better deal than what someone would get on foreign trade portals like Alibaba. Those transactions cannot match the transactions you will be able to do in the metaverses. This is a new era of ownership. New ways of ownership are emerging. For example, as a manufacturer, you have ownership of goods produced in a factory, whether already produced or about to be produced. When converted into NFTs, they can be sold online internationally, and transactions can take place with the help of NFTs as well as metaverse tokens—specific tokens of a particular metaverse, such as the FT VR metaverse we are talking about.
Examples of this have already been given. To repeat, digitized versions of exclusive, unedited song performances, exclusive artworks, or even shipments—whether already available or scheduled for the future, such as month-wise shipments—can be converted into NFTs and sold internationally. These NFTs are exchangeable with real-world assets. What does this mean? NFTs sold in the international market can be divisible, tradable, and transferable. Blockchain technology will ensure that all transactions are authentic, just like in the real world. Actual wholesalers or even big retailers who want shipments can convert those divided or partial NFTs, which they buy from main importers, into real-world shipments.
How will these be available? I will show you. These things are now possible in the metaverse space. This is going to become a really big thing. That is the reason why Facebook changed its parent company name to Meta, based on this very idea. What Facebook has done is a sign of what is coming very soon.
Friends, after we have understood what NFTs are, let us try to understand what DeFi networks are and what their role is in this whole concept I have been talking about. Friends, these DeFi networks are the financial connections between the Metaverse Tokens, which I mentioned earlier—examples like MANA and GALA, also called native tokens—and the fiat currencies, such as Indian rupees, dollars, or euros.
These fiat currencies, when converted into native tokens or so-called metaverse tokens (which are specific to that particular metaverse you create for international traders), form the financial connections. These not only provide the interface between metaverse tokens, native tokens, and fiat currencies, but they also support native token trading across different blockchain platforms. In addition, they help provide a wide range of financial support and solutions.
Some examples of such support and solutions are smart contract-based lending and staking solutions. What does this mean? The money required by intermediaries in international shipments, such as big importers or wholesalers—if they want to buy the NFTs of reputed companies for future shipments but do not have the financial power at a given point, and they feel they should really be buying those NFTs—they can obtain lending through DeFi networks, or they can share stakes.
Lending and staking are possible through these DeFi networks. Other solutions, like person-to-person transactions and many more, can also be provided by these DeFi networks.
Hello, friends, welcome to VJ Exports Mastery. Friends, today I’m going to talk about what Web 3.0 is. Friends, you know what the Web is—there was Web 1.0, then 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 these questions in this video, friends. It is very important to know the special features of Web 3.0, which I will explain to you in this video. Friends, when the internet was started, it was regarded as Web 1.0. In Web 1.0, it was the exploitation of the internet technology itself—a very basic thing. But it was new for many people. Those who took early domain names cornered some very good ones and made a lot of money out of them. It was a very simple process.
However, it was still not easy to understand for newcomers, and people who understood Web 1.0, like Jack Ma, made a big fortune for themselves by taking the early lead. Many other websites were created. Yahoo, Google, and many other big companies came out of Web 1.0. Friends, Web 2.0 came with e-commerce and many new applications, which were the result of developments that took place in Web 1.0. The exploitation in Web 2.0 was of the reach and penetration achieved by Web 1.0. But Web 3.0 is a very special development in the internet space because it has introduced some truly revolutionary technologies, and Web 3.0 is likely to remain for a long time.
The biggest revolution that gave rise to Web 3.0 is blockchain. Forbes and The Wall Street Journal are saying that blockchain is the next biggest revolution after the internet. Since the internet, no other disruptive technology has emerged like blockchain. It is going to remain for quite some time. In my opinion, Web 3.0 will be very significant, and it is going to have a long-lasting impact.
Before Web 4.0 comes, Web 3.0 will make a major impact on the day-to-day lives of people. Let us understand what Web 3.0 is and what its features are. First, let us try to understand what Web 3.0 is. Web 3.0 is the third generation of internet services, and it has been specifically made possible by decentralized networks. What are decentralized networks? They are self-governing networks. There is no central authority like Google, Facebook, central banks, governments, or big organizations like Visa or MasterCard that controls people’s data and the architecture of important online systems, thereby directly influencing people’s day-to-day activities.
There is no central authority. These are decentralized networks, which are purely based on cryptography. That is why they are called crypto. These decentralized networks became possible only because of blockchain technology, which itself is based on cryptography. Cryptography is not controlled by any single entity; it is decentralized, and it is making waves in the world today. Some examples of such decentralized networks are metaverses. Other examples include tools created using blockchain, such as non-fungible tokens (NFTs), which are part and parcel of the metaverse, and decentralized finance (DeFi) networks.
They are among the best examples of decentralized networks—not to forget blockchain platforms like Ethereum and many others. Ethereum is making waves because it has taken the lead in Web 3.0. The Ethereum platform is famous for smart contracts, which have made business transactions possible in the virtual space. These transactions in the virtual space, supported by augmented reality and blockchain, have created things like metaverses. These metaverses are the big revolutions already happening on the internet.
This third generation, Web 3.0, is truly very significant. I hope, friends, you now have a fairly good idea about Web 3.0. That was my objective in this video. If you like this video, do comment on this video and the topic I have introduced here.
The challenge of Metaverse hardware support remains, in terms of affordable smart headsets to display graphics that should be able to nearly mimic the real-world 3D feel.
Hello, friends. Welcome back to the course. Friends, in this lesson, our objective is to know the background and basics of the special hardware that is important for supporting the metaverse space. Let us try to understand the basic concepts of knowledge required for understanding the hardware behind the metaverse. Friends, the objectives of this particular lesson are: What is the hardware that is different in the metaverse space compared to other internet-based applications?
This is the first objective of this lesson. Friends, the second objective is: What are the challenges the industry is still facing on the hardware front in the metaverse space? Friends, we are trying to understand whether there are certain hardware-related challenges that are still to be addressed by the hardware industry, and what these challenges are. Friends, we will also try to understand in this lesson who the major hardware business players are.
Which are the companies?
What type of industry?
Which countries do they belong to?
Who are the major players in this industry?
We will try to understand that. Let us go to this lesson. Friends, in order to understand the basics of metaverse hardware, it is important to know what things actually combine human and metaverse space. This means the type of technology and related hardware that makes the metaverse possible. Friends, in order to understand that, we need to understand one very basic thing in the metaverse—that real-world activities are mirrored in the virtual space.
This is the basic principle on which all hardware related to the metaverse is based. What we are trying to do is replicate real gestures, voices, eye movement, and all the real things that make social life, interactive life, business life, and community life so interesting. The question is: Can these be mirrored in the virtual space using the technologies already available, all based on the internet?
To achieve this in the hardware space of the metaverse, we will require more processors with vastly improved computing power. This means the type of computing power required in Web 1.0 and Web 2.0 will not work. We require vastly increased and improved computing power, more processors, and, most importantly, wearable devices.
What are these wearable devices?
The wearable device is the VR headset, which carries the visual senses of the user into the virtual world. This is the most important part of the metaverse because the actual virtual reality and augmented reality experience can only be interfaced through some kind of VR headset. This wearable device, the headset, has to be convenient to wear.
It should not be too heavy. It should look smart. It should be convenient, as has happened with other devices.
When mobile handsets first came out, they were very heavy, bulky, and inconvenient. But now we have the most comfortable smartphones—lightweight, with longer-lasting batteries. However, the technologies that made mobile handsets comfortable are not sufficient for wearable devices and headsets in the metaverse. We require much more advanced, efficient, and technology-oriented components for the headsets.
We will talk mostly about this very important gadget—the wearable device, the headset. It is the most important hardware apart from the other processing powers required. This is the basic background of understanding the hardware basics of the metaverse. Friends, what does this mean? It means we require a very large number of semiconductors of much better quality. We require more powerful servers. We require very sophisticated cameras, high-resolution cameras, and image sensors of advanced quality.
These are the basic requirements of the new hardware industry that will 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 Apple in the US, which is not far behind. Apple is already working on a more sophisticated headset. Other major players include Samsung, Nvidia Corp, and Taiwan Semiconductor.
These are some of the very big names in this industry, and they are going to play a major role. They are already active and preparing for the year 2022, which has been predicted by most experts as a very important year in the metaverse space. Companies from countries like China, Korea, and Japan are also in the fray to invest in this “gold rush” of computer hardware for the metaverse.
This is something that happens once in decade. Friends, it has already started. Companies are investing in this gold rush, and as I have already mentioned, the year 2022 may be a defining year for hardware companies around the metaverse space and its applications. It is happening. It is going to happen. Friends—
What are the hardware challenges in this space?
We have to understand this. As I already mentioned, the most important part is the VR headset. Let me also tell you that the metaverse can be accessed through smartphones as well as desktops. Accessibility is not the point. The real issue is that to get the actual immersive experience of the metaverse space—for example, students learning in a 3D environment from around the world—headsets are required. This cannot happen through any other gadget. At present, VR headsets are still categorized as heavy and inconvenient. Friends, that is a fact. Current technology is still not sensitive enough to human voices, eye movements, and gestures. Sensitivity has to be taken to the next level to make them more real, immersive, and intuitive.
Introducing real-world-like sensitivities into the metaverse space is the most important development, though it remains a challenge. Companies are working on these advancements. More upgraded graphics technology is needed. As far as technology is concerned, Sony Corp has done a lot of work, but it is still not sufficient. Apart from image-sensing technology, graphics technology for display devices must be improved to capture the real-world feel. At the end of the day, in Web 3.0, we are talking about the virtual world enhanced by augmented reality, mixed reality, and extended reality. These can only be exploited if we can capture these very important aspects of human life and bring them into the visual space through display devices. This is very important.
Friends, what is happening at present is that the available technologies—though not advanced enough—are being worked upon and deployed for the metaverse experience. This experience ranges from virtual reality, which is the most important part, to augmented reality, mixed reality, and extended reality. The question remains: Which mix of technology—for example, VR + AR, or VR + MR—will survive, and which format will form the bulk of the user base? That is still to be seen. Until we know which format gives the best results, companies are working on creating hardware for all four technologies.
Friends, as far as my understanding goes, I feel that, looking at business and educational applications, virtual reality with the help of augmented reality and mixed reality will play a very important role. That would be sufficient for education and business applications. These three technologies require much more focus than extended reality. This is my take on this. The most important area of focus remains the creation of the next generation of headsets—smart, lightweight, not heavy.
As far as hardware goes, it has been mentioned that at least 15 high-quality cameras and the same number of high-quality image sensors would be required for any VR headset that is yet to be created. Smaller, more powerful, longer-lasting batteries are also required to make them less bulky and lightweight. Only then can smart headsets be created that work for days. Without such batteries, this is not possible.
The focus remains on headsets apart from other computing power. These are the basics of the hardware that support the metaverse space. If you understand these basics, you will know the important areas on which the hardware industry is working. Progress is happening very fast. Very soon, new gadgets will be on the market from companies like Sony Corp, Apple, and Samsung.
These are the three major players in the headset space, and you will soon see drastic cuts in headset prices, which are still very high, ranging from $500 to $1000 for headsets that are not yet smart or lightweight. But in 2022, headsets will very quickly become available in the market, and they will be much better.
Our main purpose was to understand what the foreign trade virtual reality metaverse is and what the idea behind it is. Friends, I am now coming to the actual idea that I want to share with you. Having explained what the metaverse is, what NFTs are, and what the DeFi networks are—these being the case uses of blockchain technology—I am going to talk about the billion-dollar idea of starting an Alibaba-type trade portal in the form of the FT VR (Foreign Trade Virtual Reality) Metaverse, focusing on foreign trade. It can be general foreign trade, or it can also be specialized.
As per the new technology available, and since it is doable, all products and commodities can be traded in the FT VR Metaverse across the world. It is available in real time, 24x7, 365 days. The features of such a proposed FT VR Metaverse include real-world visual experiences. You can have buyer-seller meetings that are virtual and transactional, with direct interaction between buyers and sellers. Even sale and purchase transactions can happen, VR conferences can take place, and VR trade shows are possible, involving actual blockchain-based transactions that are safe and real-world-like. It is possible. Real-world visual experience, NFTs for goods and services—these are very important features.
These NFTs can be traded across different metaverses. They are divisible, tradable, and they can be supported through lending and staking by DeFi networks—networks focusing on the FT VR Metaverse and its needs. Friends, these are the features.
Let us now discuss an intersting case study titled - Xlite Decides to Trade on the Proposed FT VR Metaverse.
Let us take this use case example of the benefits that accrue to a particular company on an FT VR Metaverse. Just imagine a manufacturer of decorative lighting in Taiwan. The company’s name—an imaginary name—is Xlite, and it has different products. The total product range includes around 100 models, and the annual production value, on cost and investment, is about one billion dollars ex-factory.
The expected return in the current traditional situation is 20 percent of the cost. This is the expectation of Xlite’s top management at present. Let us look at this case further. In the present scenario, how are the goods being distributed? Let us see. The main importers in the Asia-Pacific region apply a markup of 25–30 percent on cost. Importers in South Asia apply a 35–40 percent markup. In Europe, it is 30–35 percent. In the Middle East, 40–45 percent. In Africa, 40–45 percent. In South America, 45–50 percent.
Friends, the variation in these markups of 5–10 percent is due to different shipment dates, different payment terms, different order quantities, varying transportation costs from month to month and place to place, and the nature and length of the relationship between Xlite and its business partners (the importers). Different relationships lead to different pricing and different markups.
In the present situation, what are the reasons for such high markups, which can even increase further? One reason is that shipments are scattered across the year and unpredictable. The level of risk increases, with no prior guarantee of sales volumes in different regions year on year. This results in higher risks on investments, which also impacts expected returns. The company expects 20 percent returns, but these risks affect that.
Another reason for higher markups is that decorative lighting sales are seasonal. For example, in India during Diwali, or in Europe during Christmas, sales increase. Planning follows these seasons, causing high speculative buying and resulting in further cost markups for end-users. As a result, end-user prices rise, demand falls, and sales volumes shrink. This is the present situation.
Now, let us look at the situation after Xlite decides to trade on the proposed FT VR Metaverse. What happens in this scenario? Xlite converts the sales volume into region-wise, limited, exclusive, divisible, tradable NFTs—units created for each coming month of the year’s production and distribution. The plan shows how much will be manufactured, and accordingly, the NFTs are created.
All NFTs are expected to be sold across the world in the very first month of the financial year, for example, January. If products are in demand, they will be sold in January itself. Xlite then links the distribution and transport of goods to monthly common bulk shipments, since NFTs are already sold. The selling plan and revenues are already secured in advance.
It becomes possible to link the distribution and transport of goods through monthly bulk shipments to each overseas region, shipping to bonded warehouses in those regions. Importers across the world are free to trade the NFTs they bought in January among their networks and partners, pooling resources. Using DeFi networks, digital lending and staking are also possible. This support is available to importers.
Let us see the result of this change. The first result is the reduction of expected returns for Xlite on investment. Earlier, it was about 20 percent; now it may come down to 15 percent due to advance receipts of sales revenue in January. Five percent is already reduced in expectations. The focus for Xlite now shifts to increasing production for the following year, since sales volumes are already clear and revenues have already been received.
The next result is a significant reduction in transportation costs due to large-scale bulk distribution to bonded warehouses in each region. Another result is a significant reduction in the number of primary, secondary, and tertiary transactions in the physical world, reducing third-party-related movement of goods. This leads to a significant reduction in end-user prices, obviously, because of the savings from reduced transactions and reduced movement of goods. End-user prices drop as transaction costs fall.
There is also risk reduction for Xlite as well as for primary, secondary, and tertiary traders and wholesalers. With fewer transactions, lower markups occur at different levels, benefiting end-users. Because the ultimate end-user price decreases, demand increases due to the price reduction. This is the result seen in the use case we are discussing, friends.
Hi there!
I hope you are doing well and making great progress in this course.
I wanted to take this small moment to congratulate you on your remarkable progress in this course. Your dedication and commitment to learning have truly impressed me. I have been following you and your journey closely, and I must say, I am delighted with the efforts you are putting in.
This course is part of the Export Mastery Courses Series, a collection of 25 different courses targeting the area of export management, designed to equip you with the knowledge and skills needed to excel in the field of export and international trade.
On my part, I am committed to helping you expand your learning journey by providing access to more similar courses in the series. At the same time, I have a small request for you as well.
Your feedback is incredibly valuable in refining this course and ensuring it remains world-class and at its best. I kindly ask you to leave a rating for the course along with your honest feedback if you have not yet done so. Your input will help me continue to improve and tailor the course to meet your needs and those of future learners.
Thank you once again for your dedication and enthusiasm. Keep up the fantastic work that you are doing, and remember, I am here to support you every step of the way.
Together, let’s continue on the journey of learning and growth.
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 the Metaverse.
This video is very, very important. It's a wake-up call for you because I want to tell you about the opportunity you might be losing. You have to start selling your digital virtual lands already and start making money on your business metaverse. 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. The more you sell, the higher the chances of success for your metaverse. Still, nobody has yet come out in the metaverse space, international trade, and business transactions, so you have to start before others do. You have to start selling the properties now and start making money. I will tell you how you can do it. Friends, first of all, we have to understand what digital virtual land in the Metaverse is.
What exactly is it?
I will tell you what it is. Friends, land on the metaverse is a part of the business metaverse. These are the portions, the spaces available on the metaverse you create, and it depends on the Metaverse you create.
How do you create it?
These lands are available and are open to business ownership. You sell the metaverse rights of those lands on an ownership basis, and blockchain will take care of the ownership. Unique ownership will be managed by the blockchain platform, which you will be using—basically, the metaverse. Friends, these lands can be digitally edited and modified by the owners and can also contain other tokens like digital assets, buildings, structures, shipping containers, product and service models, voxel models, warehouses, components of warehouses, components of buildings, and voxel objects. These can be used to create showrooms, business showrooms, business storage, goods storage, factories, inventories, and other buildings you want to create, including shops.
Multiple lands can be linked together, friends. They should be linkable digital lands to form so-called estates, campuses, complexes, or districts. That is very, very important. Depending on the size of the estate, you can give different names and define the nature of the estate. You can call them factories if it is a set of factories, or a complex like the automobile complex, like the Maruti Suzuki complex, which you are aware of. This is a very, very big complex and contains a lot of vendor businesses and factories.
Those things are possible in the metaverse you would be creating. Friends, I will tell you more about these digital lands. A land is a digital piece of real estate, and this real estate exists in the digital or virtual space, which is the metaverse. What is the Metaverse? That I have already discussed with you in the last video. Friends, these lands are used to build digital infrastructure and assets such as warehouses, buildings, showrooms, conference rooms, factories, and storage spaces. For example, warehouses, showrooms, storage, products—you can even have products in the showroom, factories, and you can also populate them with different types of voxel assets.
These assets are created by voxel creators or voxel artists. I will tell you more about this. Each land is a unique non-fungible token (NFT), or you can call it a land NFT, on your choice of platform—your choice of blockchain platform. But I suggest you definitely go for the Ethereum platform. Why? Because the Ethereum platform is the best blockchain platform. It contains the architecture of smart contracts and is very suitable for smart contracts.
It is very suitable for international trading.
It is very suitable for the business metaverse. It is created and suited for the business metaverse. That's why I say you should always go for the Ethereum platform. Friends, you can also fix a total number of land parcels, some units, or link them with the world map or Google Maps, depending on the architecture you want to create in the metaverse. Let me tell you, if you create the world map, that is, Google Maps, what will happen is that many businesses will want to keep their addresses that are available on Google Maps, and they will buy the land parcels according to their own addresses. It is possible.
The benefit would be that many traders who have real-world infrastructure in prime locations would want to have the same addresses. This will help you in selling. That is also possible. But if you don't want to keep it aligned with Google Maps or overlapping with Google Maps addresses, you can create your own architecture. You can create your own map as well. Friends, multiple lands can be combined or linked to form estates, factories, complexes, or districts. 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 a district or complex, or you can name it as per your business choice. It is possible.
My idea in explaining these things is to tell you what kind of infrastructure you need to create in your metaverse so that you can start selling your land and start making money. That is very important because now is the time to start selling land. Everybody in different spaces of metaverses of different types has already started. For example, in computer game-specific metaverses like Sandbox, Gala, or Mana, lands have already been sold, and they are fetching a great amount of money.
There are other metaverses linked to Google Maps for gaming purposes only. They have even sold addresses like Wall Street or the New York Stock Exchange, and very recently, the New York Stock Exchange address was sold. That land parcel was sold for more than 26,000 USD. 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. The more land you sell, the more traffic and visitors you will attract to your metaverse. That 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.
Friends, what are the features required for this metaverse? What facilities should be available?
What are the deliverables?
What are the capabilities?
I will explain them to you so that you can start creating your metaverse structures. In my last video, I gave you ideas on how to start creating your metaverse. Friends, the features of the land, the virtual land in your metaverse, should include accessibility through a virtual map on your official website. Whatever your official website is, it should be accessible through a unique address, or you can link it, as I already explained, to the actual Google World Map. That is also possible. The proximity of the lands to large business partners, similar wholesalers, or other key positions will play an important role. This should be doable in the actual selling of the land and will help them sell their goods.
If this facility is available, the requirement is fulfilled. If you want to create your own map, your own space, then this needs to be taken care of. If you're linking with Google Maps, you probably don't need not worry about that. Google Maps will take care of the locations, and the proximity question will be decided by the people who are buying, whether they want to buy their actual addresses or land in the most prominent districts of wholesalers of such items. They may want to buy it. The actual situation will take care of that, but this facility should be there.
If you are building your own maps on the metaverse, factors like visitor count, the economy, and the visibility of showrooms, their infrastructure, their assets, and their look will matter. These elements, built on those lands, may also play an important role in business turnover. Your metaverse should be able to make it possible to create such assets—voxel assets. I will explain more about voxel assets, voxel models, and buildings in this video.
It should also be possible on your metaverse to rent out or sell the land to voxel creators and other businesses. Friends, businesspersons, or voxel creators will also be able to collaborate with other business partners or voxel artists to build unique and more visible infrastructure on the land. Why visible? Because visibility, as I already mentioned in my last point, matters—the visitor count, the economy, and visibility all matter to selling goods. This would be of great importance in the virtual setting as well. Basically, this virtual selling is exchangeable with real-world assets.
That is the idea of the business metaverse. The idea is to sell virtually to reduce the cost of transactions. That is the idea. It should be very unique. This kind of transition should be unique and should replicate real-world elements that matter in business. Location matters, infrastructure matters, the look of the buildings matters, and your location and proximity to similar businesses matter. All these things will matter here as well, and this is for real. It is already happening.
Land can also be combined into larger estates. It should be possible to combine or link them—so-called estates or districts—as long as they are adjacent. If they are not adjacent, obviously, they may not be linkable, and they should not be linkable. To give it a real look, they should be linked only when they are adjacent. Alternatively, estates can be split into smaller lands. These are the deliverables in your metaverse. You have to create the infrastructure and architecture like this.
Now, friends, I've been talking about non-fungible tokens in my earlier videos very frequently, and I have been talking about the importance and role of non-fungible tokens (NFTs) in the metaverse space—the virtual space enabled by virtual and augmented reality to give a real-life experience and make it possible to actually transact, buy, and sell in the virtual world in the metaverse. The biggest contribution is of NFTs, the non-fungible tokens, which are the connection between the real world and the virtual world.
In this video, friends, I want to talk about the different features of NFTs for the buying and selling of goods and services, and for goods and shipments that are possible in the real world with the help of transactions taking place in the virtual world—that is, the metaverse. Friends, the biggest feature of NFTs in the space of the metaverse for business and trading is that these NFTs would be divisible under given conditions, with the minimum unit generally being, for international trading, one 40-foot FCL container.
That is the full container load. Secondly, these NFTs are tradeable. They can be traded, they can be mortgaged, and they can be staked by other stakeholders. They are supported by blockchain platforms and, therefore, digitally authenticated. They are unique in nature and carry the confidence of authenticity and exclusivity because of blockchain technology. These are generally issued by reputed manufacturers and exporters.
Friends, in the metaverse space, the role of NFTs is very, very important. In several of my videos, I have given many examples of NFTs, which can be in the form of virtual reality voxel assets, objects, lands, and many other things that can be converted into NFTs, including real-world shipments—the export-import shipments—which can be converted into non-fungible tokens. I hope, friends, you now have a fairly good idea about the special features of NFTs. If you like this video, kindly comment on this video.
One of the best opportunities that exists 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. They are digital creators, artists, digital artists, and they use voxel software like VoxEdit and many other software programs that are available and which you can link to your metaverse. Friends, these voxel creators create infrastructure or virtual assets that are useful for helping with marketing, virtual business operations, and building the reputation of businesses on the metaverse, and they get paid for creating such assets.
Initially, from the land cost you receive, you probably have to create a donation fund or motivating funds for such artists. Because when you do that with the money you receive from the land, the artists will come to your website and start creating the assets. And if there are land purchases, then buyers will need these assets—voxel assets—to create buildings and warehouses. The fund you create, for example, for one thousand initial artists who apply to you, will allow them to create the assets.
These assets are very important. Without these assets, what will the people who are buying the land do if they are not able to create buildings, warehouses, or their own product models? They should either have the people to create their product models or be able to create digital models—3D models, actually. All these assets are 3D.
Let me tell you, these voxel assets are all 3D, and instead of pixels—that’s why they are called voxels. Pixels are 2D, and voxels are 3D. That’s why they are called voxel creators. These are very, very important. Your infrastructure and the architecture of your metaverse should be capable of handling all these features, and you need not worry—these are very common features available on the platforms I suggested in my last video.
If you’ve seen that video, I suggested platforms where you can create the metaverse. Smaller voxel creators, for example, create voxel assets such as shipping containers, 3D models, showroom objects, building objects, and warehousing objects. The big voxel builders use these smaller models to build large infrastructure for the businesses and businesspeople who want to create it.
There would be many business people, factories, and traders who would like to create such infrastructure. They will simply export their real-life, real-world assets or inventories into NFTs, and they will try to sell them. Without this infrastructure, many businesspeople will still be interested in purchasing land and creating infrastructure on the metaverse. It is really very important. You should allow both types of businesses.
Now, friends, the other important question that comes now and remains in this video—a very important question—is: how do you get paid for land sales and start transacting? As I've told you, 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 business metaverses, which people have still not done. The race is already on.
People are already entering many areas, but business trading areas have still not been reached in the way I’m explaining in these videos. These are very unique videos that I’m creating for your benefit. Accept the most popular cryptocurrencies, like what Sandbox does. It accepts the most popular cryptocurrencies—Ether, Bitcoin, and many others. You can use the same strategy or create your own native cryptocurrency, your metaverse cryptocurrency, which I explained in my last video, tradable in compatible crypto wallets.
Examples of such are Mana or Gala, which I also explained in my last video. Kindly, if you have not understood, you can go through that video again. Link with the popular crypto wallets and accept their currencies. Examples of such crypto wallets are Venly and 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 beginners; Electrum, which is best for Bitcoin trading or accepting money in Bitcoin for the lands or other transactions you make on your metaverse, or for the benefit of the creators, voxel creators, and builders who will charge for their work and receive money in Bitcoin or in Ether; Mycelium, which is best for mobile users if people want to use mobile phones, as it is more compatible with mobile; Ledger Nano X—the best offline crypto wallet for offline purposes; and Exodus—the best for desktop. These are some popular crypto wallets, friends.
Now, I would like to share with you some special things you should know. This is very, very important in this video. Special notes are there. What are the special notes? Your land should be tradable on different blockchain platforms and NFT exchanges. What are NFTs? I have already discussed this in my last video, and I have already explained non-fungible tokens and native tokens. All the voxel creations, assets, objects, and infrastructure should be exportable into NFTs on your metaverse and should be tradable on your metaverse.
These are the standard NFTs that not only apply to your metaverse but should also be tradable in other metaverses, compatible metaverses, or crypto exchanges. Businesses without land ownership should also be able to upload. I have already mentioned this in this video, but I am repeating that they should also be able to upload their own real-world assets into non-fungible tokens (NFTs), which should be tradable in your metaverse.
These are the requirements. These are the deliverables. If you can create such a metaverse, then you can start selling your land and start making money. Friends, time is the key in this, and the metaverse race is on. This is the biggest revolution. Metaverse technology is the biggest revolution based on blockchain.
Again, blockchain is the biggest revolution after the internet. Everybody is 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 to Meta. Friends, everybody is moving towards Meta. Everybody is moving towards the metaverse.
You should not be left behind in this race. The sooner you start working in this area, the sooner you start learning all about the metaverse, all about DeFi networks, all about NFTs, all about Web 3.0 services, all about native tokens, all about selling virtual lands—the better. Your time has come, and you can start making big money.
Maybe you can create a very successful international trading metaverse, better than what Jack Ma did when Web 1.0 came, when the internet came, and using Web 1.0, Jack Ma created Alibaba. Now is the time for you to use Web 3.0 to create something like Alibaba and achieve what Jack Ma did. This video is a wake-up call for you. Before other people start selling land, you should start selling the land of your metaverse.
Hello friends. Welcome to the VJ Export-Import Mastery Series Course. Today, in this section, Dr.Jain is going to talk about a step-by-step guide on how a customer would buy and sell real-world goods and assets on a business metaverse.
Hello friends. Welcome to VJ Exports Mastery. I bring some really revolutionary videos related to international trading, foreign trade, exports, and imports, and I keep you updated with the latest technology that is revolutionizing the way international trading is moving towards real globalization. Friends, today in this video, I am going to talk about the step-by-step guide on how a customer would buy on a business metaverse. In another video, I will talk about how a trader will sell goods on a business metaverse, which is going to revolutionize Web 3.0 very soon.
Friends, let us understand the step-by-step process of how a customer can buy goods on a business metaverse, something very similar to the Alibaba trade portal of Web 1.0. Friends, in Step One, the customer visits the business marketplace of the business metaverse and logs in to this platform. These platforms are created by different metaverse creators and are marketed by them to bring the traffic of sellers as well as buyers. I have already talked about the creators of the metaverse, the advantages of the metaverse, and what the metaverse can do.
It is going to become Web 3.0’s biggest technology to help reduce the costs associated with international exports and import transactions. I have already talked about this metaverse in several of my earlier videos. Friends, in Step Two, the customer browses the various available goods and shipments offered by several traders and manufacturers on the metaverse.
These are the traders who have converted their actual real-world shipments into NFTs, the non-fungible tokens I have talked about in several of my earlier videos. You can see those videos. Friends, these non-fungible tokens can be traded on the metaverse. By browsing all these NFTs of the available goods and shipments offered by different traders and manufacturers, the customer gets the complete details and the conditions attached to them.
That was Step Two. Now, friends, in Step Three, once the customer has selected the goods or a particular shipment in the form of an NFT, and if he wishes to buy, he clicks on it to read more. Complete details are given. He can go much deeper into the details provided—the conditions attached to the real-world shipments, the different features, prices, and even the schedule of the availability of those shipments, including the particular locations in the world where the shipment will be available and the duration from which date to which date.
Those details are given. Metaverse business platforms may only allow the customer to use their approved cryptocurrency, which means the native tokens or metaverse tokens. About these native tokens, I have discussed them in my earlier videos, so you can watch those videos to get an idea of what native tokens are. They may only allow native tokens. Many metaverses, however, may accept popular cryptocurrencies. One example of a native token is Mana, which is only allowed to be used on the very popular metaverse Decentraland. Similarly, there is another native token called Gala, which is only allowed on the Gala metaverse. They do not allow any other cryptocurrency to be used.
That is the choice of the metaverse administrators, depending on how they want to configure their metaverse. Now, friends, in Step Four, the customer has to link a compatible digital wallet to the business platform account. The account he has created on the metaverse must be linked to a compatible digital wallet, which can be MetaMask, CoinSwitch Kuber, or many other digital wallets that are available, like Venly or others.
Friends, in Step Five, the customer has to fund the digital wallet with the particular cryptocurrency accepted by that specific metaverse, and it must also be compatible with the digital wallet and the platform. Without this funding, no transaction can be made. For example, if a particular NFT costs between 10,000 to 15,000 or even 20,000 dollars, the equivalent amount in Ethereum or whichever cryptocurrency is accepted—Mana or Gala—has to be funded and populated in the digital wallet.
I have already given ideas about Mana and Gala. It is very similar. In Step Six, friends, the customer then presses the buy button. If the digital wallet is already funded, the buy button will become active. By pressing the buy button, he will be able to purchase that particular NFT and the goods and services associated with it. Now, friends, in Step Seven, once the customer has completed the transaction by pressing the buy button, the goods in the form of NFTs are purchased and stored in their linked digital wallet. The customer will be able to view the acquired goods units under the NFTs tab in the digital wallet.
In Step Seven, he will become the proud owner of that particular NFT and the associated real-world assets linked with it. It could be in the form of a single container, several containers, goods, or even services. 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. Friends, I hope this simple step-by-step video helped explain what the customer experience is like on a business metaverse for international trading, and how transactions will take place from the perspective of the customer.
Friends, if you liked this video, kindly comment on this video. If you have any suggestions or additional inputs on this particular step-by-step guide, do write to me. Thank you very much.
Hello, friends. Welcome back to the course. Friends, now I'll share with you what happens after the NFTs are purchased by the customer. It is important to understand how the NFTs are to be handled and what options are available to the customer after he has purchased the NFT. In this particular video, I will talk about the options available to customers after they have purchased NFTs in a business metaverse.
These NFTs are basically the goods and shipment NFTs or services NFTs. How are they to be used? Friends, in the case of a business metaverse and the purchase of goods or services, NFTs by customers, there can be two types of NFTs (non-fungible tokens). One type is the instant converts, which means the non-fungible tokens that can be instantly converted into real-life shipments. Real-world shipments mean the customer can simply contact the address and the contact point mentioned in the details of the NFT and take possession of the goods, or they can get the services started if it is in service form.
In the case of the first type, that is, the instant converts, these can be redeemed immediately or up to a certain date. There will be a time period within which they can be converted, from now until a particular date. These can be redeemed for real-world shipments in the listed countries or cities. Whatever conditions were there at the time the NFTs were purchased will remain, including the limitations of the cities where the shipments are available, the models purchased, and the quantities and shipments available. They can be converted into real-world shipments instantly.
The second type, friends, are the NFTs called date converts, which means there are certain dates within which these NFTs would be valid in the future. These will be redeemable on a later date. A date range will be specified in the description, details, and conditions of the NFT. This is the second type. Let us look at the two different types of NFTs, how they are to be handled by customers, and what options are available to customers to use them.
Talking about the handling of instant converts (instantly convertible NFTs), customers would have the following options. The first very obvious option available to the customer of the instant convert type NFT is to redeem them immediately for the real shipments, as per the quantities mentioned, whatever the eligible quantity, eligible countries, and eligible locations.
The customer will be able to redeem immediately for the real shipments. That is one option. The second option is that the customer can sell it in the NFT markets or on the metaverse at a profit or loss. I will give you examples of such markets in my next slide, where the NFTs can be sold. They can definitely be sold on the business metaverse. Friends, another option available to the customer is to use the grace period available—the number of days available until the last date when the instant convert NFTs can be redeemed—to borrow or for staking. If the customer wants to borrow money, if he thinks he does not have the space to keep the goods, or if there are some other problems and he wants to gain some time while facing money issues, he can borrow and use them for staking. Generally, the time period will be so short that option number three will not be very feasible, but it will be available. These are the different options available for the instant converts.
Now, what about the handling of the date conversions for customers? This means the NFTs have a future date when they can be redeemed. Friends, the options available to customers in such cases are: first, to wait until the due date to convert the date, convert NFTs into real-world shipments in the countries or cities where they are available, as per the conditions, quantities, and eligibility mentioned when the NFTs were purchased.
The second option for the customer is to wait until near the due date and then sell at a profit. The NFTs can be sold or traded on the metaverse or on different marketplaces, which I will give you as examples. The third option available is to borrow, which means the customer can borrow funds against the NFTs. Some examples of platforms where borrowing can happen against NFTs are NFTfi.com or Drops.co (Drops Loans website). You can borrow up to 80 percent, generally 80 percent of the market value.
There is no hard and fast rule about the 80 percent, but this is generally the trend in the market. It is possible to borrow funds against NFTs. The NFT’s actual value, or market value, will be judged by the marketplace. The amount you spent on the NFTs will not matter. What really matters is the market value, which may be more or less than your investment, depending on the situation.
The fourth option customers have for handling date converts is to invite stakeholders, which means inviting other businesspersons or traders to have stakes in the goods, shipments, or services. These stakes can be invited on market platforms and NFT platforms like Kira Network, NFTX, Splinterlands, or Only1s. There are many other marketplaces where staking is possible against NFTs.
Now, I will talk about the step-by-step method by which a trader would be able to sell goods or services by transforming them into NFTs on a business metaverse. Friends, how do these manufacturers and traders actually sell on the metaverse? Obviously, the first step would be for the manufacturers or traders to log in to the business metaverse of their choice.
The second step would be the creation of the profile of the manufacturer, company, trader, or particular brand. The profile creation can be very simple, maybe in the form of a listing only, or it can be much more detailed. For example, listing plus the complete 3D infrastructure: the land, the showrooms, different types of voxel assets like product or service voxels, map addresses or locations, virtual events, virtual tours, product demos, factory virtual visits, or warehouse virtual visits. Depending on the seriousness with which a trader or manufacturer is involved in the business metaverse and their stake in it, the type of listing may vary.
In Step Number Three, the trader has to create the NFTs. These can be, as I have already mentioned, instant converts or date converts—two types of NFTs are possible. The NFTs then have to be uploaded in Step Number Four on the business metaverse. These NFTs can be product- or model-wise, or they can be date-based NFTs in the form of monthly shipments. Different possibilities exist.
In Step Number Five, detailed instructions on how to convert for the customers, along with complete descriptions and conditions of sale, have to be created and uploaded to NFT marketplaces like OpenSea or other marketplaces.
In Step Number Six, the trader or 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. These can either be supplied to a bonded warehouse (not customs cleared) or to a DTA warehouse (duty paid and customs cleared). Different possibilities exist for making the goods available, and those conditions and information have to be provided in the NFTs, as the pricing will change accordingly.
In Step Number Seven, the trader or manufacturer has to monitor the sales, maintain visitor records on the listing, 3D infrastructure, or locations, and maintain a record of offers and queries. This means tracking customers who are making offers not yet converted into transactions, or their queries, and possibly offering discounts to customers in case of slow-moving NFTs, especially on date converts. Discounts can be offered if required, or the prices may actually escalate on date conversions—it is also possible.
In Step Number Eight, the trader or manufacturer has to carry out post-sales service activities. For example, helping the new owners or clients who have bought the NFTs to understand how to deal with them 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 the future developments that are still to happen in this particular business metaverse space. One of the very important future developments, which is very much sought after by international traders, is merchandise NFTs insurance facilities. In case of any problems with the NFTs, such as the failure of the issuer to honor the NFTs, if insurance is available, it will significantly increase the utility of the NFTs.
Another future development, which is very much welcome, is NFT issuers’ rating services and certification services. Companies that are able to authenticate, ratify, and certify the reputation of issuers will definitely help. A rating system that is user-driven or consumer-driven, where earlier customers who have used the NFTs of a particular issuer can rate them, will also be very beneficial for traders.
The third very sought-after future development is NFT Plus services. Some examples of NFT Plus services are making shipments available in non-listed countries or cities not originally included in the NFTs. By going beyond the conditions of the NFTs, if some organizations provide services linked to NFTs through an NFT Plus addendum or additional NFTs, those services can be converted into NFT Plus tokens.
These developments are very much welcome, and they are going to happen very soon. 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’s parent company, Meta, is already spending millions and millions of dollars on developing these kinds of facilities for small and medium-sized enterprises.
Very soon, you will see the speed at which these developments are taking place. It will be no time before all these facilities become available to international traders in a very smooth manner, making life for these small enterprises, especially small international traders, much easier and safer.
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 small businesses.
Hello, friends. The very important issue that remains is that whatever we have discussed in this course regarding the metaverse, its benefits, and its operations, the concepts discussed are more suited for large companies, big brands, and well-known companies—companies on which traders can truly rely, knowing that commitments will be honored and handled by professional management.
Many of the commitments made in the metaverse by large companies and big brands will be very suitable in the context of what we have discussed in this course. But friends, the main purpose of the new technology—that is, the metaverse and its role in international and global business—is to help small and medium exporters, importers, and traders. That is the most important thing.
How to do that? Already, in the metaverse space, big brands like H&M, Nike, and many others have made significant inroads. They have already used the technology to reduce their costs, optimize their operations, and improve the efficiency of international logistics.
They have already achieved many of the benefits of these concepts that I have discussed. But the real action remains to be seen for small and medium exporters. The main benefits will accrue to these businesses because they cannot really afford very high-cost operations, such as dealing with international banks to ensure payments, managing intermediaries, or handling quality inspections. All these things cost a lot of money, making it very difficult for small and medium exporters to compete with large, organized businesses in international trade.
Friends, the main benefit will actually be seen for small and medium enterprises. The very important area in terms of understanding these solutions for SMEs is the role of connected devices or connected assets—the sensors, Internet of Things (IoT) devices. We will talk about this hardware, these physical items, which are revolutionizing the way small and medium enterprises, as well as large organizations, are building the link between the physical, real world and the virtual world of the metaverse.
In this particular section, we will be talking about these solutions and what is being done for small and medium enterprises, who are the main target audience of any metaverse that is going to succeed in the near future. We will also discuss the different roles of the various hardware I just mentioned in making this possible. Here, we are talking about exporters of both goods and services. I will also be talking about services exports in a special session in this section, which is very important because services exports are mostly carried out by small and medium enterprises.
Now, friends, first let us understand what connected assets or connected devices are. Almost anything in the real, physical world can be connected to the internet using technology. The main medium of this link between the physical world and the internet is smart sensors, which can be attached to physical assets—boxes, machines, and many other things. They can be attached to almost anything.
Almost anything can be recorded by the internet, and it becomes a smart asset or part of the Internet of Things (IoT). This is really important because as soon as it gets converted into IoT, it receives a tracking number and can be tracked. These assets can also be certified. Whatever the characteristics and description of those items are, they can be certified as well. The technology to do this has already become affordable, through the use of RFID or limited-area input devices that collect data from the physical world and transfer it into internet databases.
These technologies have become much more affordable, and solutions are now available. Many solutions are already being provided, and many companies are very successful in offering IoT services. Friends, the biggest beneficiaries of connected assets or connected goods through smart tags or sensors are the goods related to international supply chains. That is where the benefit for small and medium enterprises involved in international trade comes into the picture.
The moment goods are certified, connected, and tracked, they can be converted into NFTs on metaverses. On the other side, buyers start generating trust in the NFTs issued by small and medium enterprises. This resolves the missing link that existed earlier, where people would only trust NFTs issued by reputed companies for existing or future shipments.
For small and medium enterprises, it is very important to have NFTs for existing goods that are IoT-enabled, rated, certified, and inspected. Affordable, volume-based solutions are available for SMEs. These innovative solutions provide almost all the capabilities that large businesses can carry out in the metaverse. The same functions can now be handled by SMEs as well, including issuing NFTs for future shipments.
The rating system, the certification system, and even VR certification for traders who participate in the metaverse are becoming available. Along with this, the role of intermediaries—such as tour guides, metaverse business consultants, or agents—makes it possible to extend these benefits to SMEs. This is already happening and is going to become a routine and standard feature of the metaverse and metaverse-dominated international trade in the near future.
I just talked about the role of smart sensors with a limited range, which can provide input data to connected devices and IoT networks. This is the important link between the physical world and the virtual world. The main purpose of these sensors is to collect data from the surrounding environment. These networks collect data, and the sensors provide detailed information on individual shipments, machines, machine parts, process elements, or flow processes of operations.
All these areas and the surrounding environment can be brought into the IoT architecture. The sensors or “things” of the IoT system form the front end. These are connected directly or indirectly to IoT networks after signal conversion and processing. These solutions are already in place and are much more affordable now. Export shipments or boxes can be made into connected devices. They can be rated, certified, inspected, and bulk-checked, with inspections and ratings made possible through IoT. It is cost-effective to bring real-world export shipments into the Internet of Things, which then allows them to be easily converted into NFTs. Once converted, they can be traded easily on metaverses.
Now, IoT devices and solutions—there are solutions like international fleet solutions (for example, Toradex and others). End-to-end artificial intelligence solutions (for example, Locus) are already available. Many such alternatives exist. IoT devices can collect and transmit data via sensors and actuators, scalable cloud solutions, and user-friendly communication networks. The cloud, internet, and intranet—all possibilities are there. IoT allows multi-device operations, which can be easily carried out, and these provide practical and affordable solutions compatible with any metaverse.
Some aspects of IoT devices and solutions can be categorized into four major areas of the connected ecosystem. In logistics, these include communication systems, location tracking, supply chain monitoring, and cybersecurity. For example, monitoring the state of a driver and the vehicle, real-time object identification and tracking, ensuring proper storage conditions and product safety, effective transmission, avoiding media breaks through digitization, delivery time estimation, and remote control of transportation processes.
These are some examples categorized under these four major aspects. It is a vast subject and can be studied further in detail to prepare for the metaverse-dominated future. My idea here is to give you a head start on this amazing technology, which is going to become a normal feature of international trade very soon. These solutions help create metaverse-enabled opportunities for SMEs.
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. The authenticity of physical assets transformed into NFTs can be verified through pre-certified goods and smart tags or sensors issued by large intermediaries or insurers. Friends, the solutions are already here. Things have already started happening, and they are going to become routine. It is time to prepare yourself for this new normal.
Hello, friends. Welcome back. Friends, one area that is very, very important for small and medium exporters and international traders is services exports. There is a lot of growth worldwide in services exports, mostly driven by small and medium exporters. Services include consultancy, educational products, training services, counseling services, EdTech services, IT services, and ITeS services. Friends, there is a wide range of very innovative services related to industries like travel, tourism, education, finance, strategy, exports, and international trade.
Many areas are covered under service exports. Friends, in this particular video, I will talk about the metaverse advantage in services exports and how it can grow a company’s fortunes in the metaverse. Friends, one of the major advantages and roles of the metaverse in boosting services exports is its ability to combine the powerful potential of both VR and AR—virtual reality as well as augmented reality.
It is very much like a pizza delivery boy who can fly and move very fast in the air. You can imagine what kind of efficiency and service such a pizza delivery boy can provide. Taking another example, if you consider education services, people selling educational products internationally can use the metaverse to present their offerings in an immersive environment with 3D presentations instead of traditional 2D formats, creating a classroom-like experience.
Imagine the educator giving a lecture with 3D models in the air in front of him, asking students to enter into 3D areas and see for themselves what is happening. For example, if he is training about shipping lines, he can ask students in the metaverse to take a tour of a commercial liner or tanker. With a single click, he can create a complete 3D model of a commercial liner.
This kind of knowledge, friends, is unparalleled. The kind of learning that happens is very difficult to match with any other tool. It is a much more advanced service delivery than what we already know, even in the real world. Friends, that is the idea of boosting the value of service exports through the metaverse. Almost all kinds of services can be traded and delivered through the metaverse.
The metaverse is very important in adding value to services. As I explained, using the powerful combination of VR and AR can add enormous value to service delivery. It provides an immersive, real-life experience through VR, and AR adds the ability to present 3D models and presentations of extreme value. Very importantly, it also has the potential to save significantly on delivery costs.
Imagine skill delivery by an expert requiring trainees to fly down to a particular country from all over the world. Think about the costs involved. The same experience, augmented by AR, can now be delivered through the metaverse in a 3D immersive environment, without requiring trainees to travel. They can log in from anywhere in the world.
Some examples of these services that can gain significant value from the metaverse are education and training, consultancy services, specialized education, engineering services, financial services, and strategic management consultancy. Other areas include religious rituals, where the presence of religious experts is required in a 3D immersive environment. Such services can be very lucrative for small and medium enterprises.
There are also services like student counseling, educational counseling, executive coaching by experts worldwide, as well as consultancy and guidance in travel and tourism. These are only a few examples. A very large range of services can be provided in an augmented manner through the metaverse.
As I have already mentioned, the most important advantage of the metaverse is that it provides digital infrastructure, taking advantage of both VR and AR. VR provides a real-life immersive presence, while AR adds value by creating experiences once thought to be fantasy. These experiences, once only imagined, are now possible in the metaverse. I have given you many examples, and in the next video, I will share a case study of a trainer providing training services and his story. This case study will give you a clearer idea.
The material available in the metaverse is easy to operate. Updates are much faster, and the content is highly relevant and current. It is an immersive, presence-rich technology, easy to sell through NFTs. It is also safe, with quick and secure payments. It is globally accessible, offering unmatched real-time accessibility. It is a cost-effective, online solution. These are the metaverse advantages.
Hello, friends, I'm Dr. Vijesh Jain. I want to share with you my success story of using the metaverse for selling my services internationally. Friends, I am an international business trainer, and I have trained many people from different countries on skills related to international trade, global business, global business strategy, international marketing, digital marketing, and the adoption of new technology in international business. Friends, my students, who are working executives in different countries of the world, have been finding it very difficult to get the effective training that I wanted to give them.
The face-to-face training I was conducting earlier was very costly because my students had to buy international air tickets and stay in New Delhi for at least a week of training. They had to spend a lot of money on face-to-face training. After the pandemic, it became impossible to do face-to-face sessions. I used Zoom and other applications to provide 2D-type interaction training, which again was not very effective because the kind of interaction required to understand the different sensitivities of international trade and the various skills of international trade demands two-way communication of a very different type.
It requires a lot of gestures, which were not there. Friends, what I was trying to find was a 3D kind of solution, which could provide a real classroom feeling to the trainees. They should be able to interact with me and with each other in a confined classroom situation, not just in a network setup like what we find in video conferencing apps such as Zoom.
It was not really working out. The effectiveness of 2D training was very poor.
I needed 3D training tools.
I needed something virtual.
I needed something where real learning could happen for each student. Basically, I needed the presence factor. I needed two-way interaction. I needed something very close to real, but which still had the advantages of being virtual, internet-based, and on a digital platform. I was looking for a solution that could give me the freedom to train effectively, deliver practical skills to my students, and ensure they felt good about their learning—that they had acquired something useful and applicable to the real world of international trade.
That was the kind of solution I was looking for. Friends, I found it. I came to know about a platform offered by Meta (the Facebook company) that provided virtual office space in their metaverse, along with training rooms and expandable training halls. Such infrastructure was available and very affordable. It was not at all costly. What I needed was simply the space in the metaverse and to create the 3D voxel infrastructure—furniture, seating, tables, and OHP (overhead projector) voxel objects. These were the kinds of things I needed. Friends, this metaverse platform provided me with many free tools to create all the 3D objects in a very user-friendly manner. I was able to create everything I needed for training purposes—chairs, tables, OHP screens, training tools, and voxel objects—almost free of cost using the free tools available on the metaverse.
Now my complete infrastructure was ready. What I needed next was a VR headset, which cost me about $300. Of course, all my trainees also needed a VR headset to enter. Friends, the VR headset my trainees had to purchase was useful for all kinds of metaverses and different applications in 3D space. It was universally usable for metaverse and virtual reality applications. It was a very useful gadget, and none of my trainees minded buying it. My trainees are located in more than 185 countries, and location is no longer a handicap. They could log in to their accounts, which they created in my office metaverse, get the link to my office, and enter using their VR headsets. That’s it.
Friends, I arranged a demo training session and invited trainees from around the world, including many of my past students who had attended face-to-face training with me earlier. I conducted this virtual 3D metaverse-based training demo, and around 12 trainees attended. During the session, I used all the available tools to provide my presence as well as the presence of fellow students.
I used various tools to conduct management games and demonstrated different types of international trade skills. It was a great success. Friends, the students simply required the VR headset and had to choose an avatar in the metaverse. This avatar could be used anywhere in the metaverse space and on any metaverse. It was a universal avatar, which they could later change as they wished. The avatars could be very realistic or of any type that the students liked. Using their avatars and VR headsets, they entered my training room, and we had a great session.
After the session, I sent them a feedback questionnaire asking if they noticed any significant difference in learning and effectiveness compared to earlier training. Friends, the feedback was very encouraging. Students really liked the whole metaverse setup with 3D virtual reality and augmented reality. They could do a lot more, feel the presence, and sense themselves in a real-life situation with a real experience.
It was truly amazing. Students replied that they found it very effective, skills-oriented, and highly motivating. After that, there was no looking back. I have been conducting such sessions frequently and regularly now, and my clients are located in many countries around 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 trainers have an immersive, real-life experience at an advanced level.
Hello, friends.
Welcome back.
I will now take you on a short tour of the Metaverse Voxel Assets Training Center on our metaverse.
Just have a look at how it appears.
It will give you some idea about what kind of educational training value addition can be done on the metaverse.
Please have a look.
This was a small tour I wanted to show you on the metaverse.
Things are in progress, and it will become much more sophisticated over time.
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—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 VR and AR, using 3D presentations.
It created an immersive, real-life experience with experiential learning—very high-level experiential learning for the trainees.
Based on this case study, I have also given you an assignment.
You can see the next assignment, which I would like you to participate in.
This case study of a hypothetical services export company - Band Baja Baraat serves as a great example of the innovative applications and business startups in the Meta environment.
Welcome back to the course on preparing yourself for the metaverse-dominated future of global business.
I will now take up a very interesting case study on possible ideas for metaverse business models. Right now, I am presenting this case study to give you a business idea for services exports.
This particular metaverse case study has been prepared by me based on real events. The names of the places and persons have been changed for privacy reasons, but the events are real.
The title of this case study is “Exports of Marriage Services on Metaverse.” And, of course, we are talking about marriage services on an international scale.
This case study relates to a company named Band Baaja Celebrations Private Limited. This company started operations in 2010. It is an event management company, especially focusing on marriage functions. It specializes in carrying out wedding events comprising all different rituals. These can be two days, three days, or even week-long events. This company specializes in such events.
Their main clients are non-resident Indians, mostly living in countries like North America and the UK. The NRIs were their primary clients. They specialized in arranging wedding ceremonies and related events on an international scale. They arranged physical functions both in India and abroad, at different locations worldwide. They became well known for destination weddings—exotic destination weddings, cruise weddings, and island weddings. That was their main forte.
After the start of the pandemic in early 2020, the company began facing serious challenges. They struggled to get clients, continue business, and operate in the way they had been doing for years. They faced restrictions due to airline embargoes, event embargoes, and limitations on moving to different locations—even within India. It became very difficult to arrange good destinations, and they were unable to organize any international destination weddings.
The premium segment was already shrinking. Their regular clients, built mostly through word of mouth within the Indian diaspora, were also affected by economic hardships due to the loss of business or jobs among Indians living abroad in both IT and non-IT sectors. The company clearly saw that things were not going the way they had been. Growth was gone, and business was sinking.
The company decided to sit down for a brainstorming session with its team. Everyone was feeling the heat, and it was becoming difficult to sustain employees and pay salaries. They arranged a brainstorming session to discuss innovative ideas for running the business in these new circumstances.
Various aspects were discussed. Could online events be organized? Could the company try to conduct so-called online events? There was skepticism about whether customers would be interested in online events. It was untested, and questions arose about the format of such events, how to market them internationally, whether customers would pay, and who the target customers would be. Would they still be the NRIs in North America and the UK, where the company had strong roots? Or would the company have to make radical changes?
The existing strengths, weaknesses, opportunities, and threats were analyzed. The threat of the complete non-existence of business during the pandemic was clear. The team members discussed everything thoroughly. They realized that online events might be a possibility, given the current pandemic situation and the likely continuation of restrictions in the foreseeable future. But how should they do it?
Could 2D Zoom events or gatherings work? No. That format might be acceptable for business meetings or casual gatherings of friends and relatives, but not for serious events like weddings. Such 2D events would be laughable, not practical, and not profitable.
The key question became: how to add the “wow factor”? How to bring excitement to online events? How to create real participation by guests and all the people involved in such functions? How to make them feel present and immersive experience? That was the missing link.
Participants in the meeting emphasized that only immersive experience and presence could recreate the participative gathering of such events. Could technology bring this kind of excitement, wow factor, participation, and immersive presence? Could it help recreate novelty—the cornerstone of weddings—through stage design, atmosphere creation, and innovative themes? How could these elements be brought online? Could technology make it possible?
One participant suggested the idea of the metaverse. Could a metaverse provide the solution to bring novelty to wedding events? Could it generate business? Could it bring money? Could the metaverse help?
Although many of the participants had heard of the metaverse, they had not seriously considered it as a solution. At that moment, it appeared that the metaverse could indeed provide the answer.
What they realized was that the metaverse offers the use of virtual reality, augmented reality, mixed reality, and extended reality, which could bring a lot of excitement to such events, provide presence and immersive experiences, and also add fantasy, novelty, and art. Many things seemed possible. It appeared in the meeting that the metaverse could actually deliver this. But how to do it? The wow factor was there. Participation was possible.
The price could be justified for such events because they required a lot of teamwork, preplanning, and coordination. The possibility of income looked real in this kind of solution, at least on the face of it. What they realized was that unlimited novelty could be added. A lot of art could be added. Many 3D objects could be created and combined with augmented reality to bring fantasy themes that are normally not possible in the physical world.
It seemed that the income potential was high with this solution. The question remained, however: would customers be interested? Nobody could really answer whether customers would genuinely want this kind of solution. Still, it looked worth trying. To test the idea, the director heading the meeting thought of giving it a try.
He wanted to know:
What kind of resources were needed for such a solution?
Did they already have a metaverse team in place, or would they need to hire people for this, even for trial functions?
What kind of skills were required?
Could they prepare a demo to do market research?
Could they organize a demo and show clients what to expect from such events on the metaverse?
Could the team arrange small events on the metaverse to test the concept and evaluate the results?
The team gave serious thought to this and realized that the company already had a lot in place because of past experimentation. They were in a position to organize small events like birthday parties. They found that this idea resonated very positively with their existing clients abroad, particularly NRIs in North America and the UK, and saw a lot of interest among them.
They actually arranged small events such as birthday parties and family gatherings. When they organized these events, they found the results to be very exciting, very positive, and saw great scope for handling more serious events like weddings. After a few weeks of experimenting with these smaller events, they decided to move ahead.
Finally, when they were confident that the results were positive, the income potential was real, and the team was ready to take on more serious events, they attracted the interest of an existing customer who wanted a full-fledged metaverse-based wedding. The format decided was a mixed event that included fantasy elements and wow factors in the form of augmented reality and mixed reality in the metaverse. The combination of virtual reality, augmented reality, and mixed reality was designed to make the event truly special.
They created many avatars for the bride and groom. Some choices were very close to their real pictures. They also created avatars for close relatives and key guests. Guests could choose their own dresses for their avatars, including multiple dress options for different ceremonies, as well as hairstyles.
There were many choices, which the team arranged easily. They also had a large collection of voxel objects suitable for serious wedding events in the metaverse. They already had a digital venue in place, a good-sized digital hall, and virtual reality decoration, enhanced with augmented reality effects that brought fantasy and special effects into the experience. Everything was ready.
The client selected avatars for the bride, groom, and key people from both families. They also agreed on stage decoration, reception themes, and event-specific designs. One popular choice was a Harry Potter world theme, which turned out to be very successful. With all these elements in place, the company was able to take up this particular wedding event very seriously.
The result was that the Metaverse wedding event, their very first, turned out to be a great success. It was a very exciting kind of event, organized by the full-fledged metaverse team, the support team, and the creative team. Everybody contributed to the success of this metaverse wedding. There were a lot of choices for the avatars, and role players were in place, such as the DJ and live singers who participated.
There were live songs with augmented reality, and the Panditji—the metaverse-based priest—was played by a real Panditji who chose the right avatar and actually recited the hymns for the marriage. All these elements were in place. Guests also had choices for the stage and seating arrangements, which were highly appreciated. As a result, many new inquiries started coming in. The decorations, 3D voxel objects, and special effects suited the event very well.
There were a lot of virtual reality effects, live event effects, and a 3D-themed reception. The Harry Potter world theme turned out to be very popular for some of the events. There was great participation from all over the world, as guests from different countries joined across borders. What they needed were VR headsets, which had to be arranged.
Nobody minded, because even otherwise, they were saving a lot of travel costs by not having to fly from one country to another to participate in marriage functions. The investment in VR headsets by guests and participants was forthcoming. The company also provided complete footage—3D and 2D video shoots—with full coverage of the event, enhanced by great special effects. This was a shining moment. The quality of coverage they could deliver for this event was outstanding.
Overall, the event was a great success. Many inquiries followed, and the company planned to carry out similar events for other clients, some of whom were guests at the first wedding. The business results, after some time, showed that the company’s volume of business had actually increased. Although individual events were of smaller ticket sizes from a financial point of view, they were a win-win for the clients because costs were much lower in the virtual world.
The number of events in the company’s portfolio began increasing, and the overall profitability of these events was very high, given that they required much less investment from the company as well. The results were excellent, the excitement was high, and the company’s learning curve became very strong. From the first event to the second to the third, the results improved exponentially.
The impact, effect, and quality of the themes improved manifold with time, and business inquiries started pouring in from all over the world, including from non-Indian origin clients. This was a very interesting development for the company, as they were now receiving business from countries they had never worked in before, from clients of different nationalities.
Friends, the company ultimately found real success in adopting metaverse solutions for the type of business it had been doing. Going forward, they could clearly see many merits in planning metaverse-based wedding events.
The instructor wishes to congratulate you for completing this important course on a technology that is yet to show its full potential. By completing this course, you have stepped into a world full of rewards and an exciting career.
Friends, this was a short course, but based on very intensive research and practical experience of the instructor. My idea in this course was to prepare you for the very fast-emerging new landscape of the metaverse-dominated international trade and global business, which has already started taking real shape and will emerge very, very quickly. Already, more than eight trillion dollars of opportunities have been generated on the metaverse, and every month, billions of dollars are being added.
The growth is extremely high. The possibility of getting very lucrative and rewarding jobs in this field is also very high. By doing this course, you can expect to create certain projects for yourself, showcase these projects to potential employers, and getting jobs will become much easier. In this field, you don't need to show big certification programs, which are not required. What is more important is to create your own portfolio of metaverse projects. I will give you some ideas for such projects in the resource section of this lecture. You can explore these ideas, work on them, and create your portfolio.
If you want to set up your own metaverse—something like Alibaba in the Web 1.0 era—and create something similar in Web 3.0 in a 3D meta environment, the scope is unlimited. But you will need the support of people with different talents. You can either create your own metaverse, become a major player in an existing one, or work for companies already engaged in metaverse businesses. For this, you need to work on these projects.
Friends, if you liked this course, please share it with everyone who might be interested in this new technology—your colleagues, your friends, your contacts. The more people who join this course, the more they will be able to prove themselves with highly rewarding projects in the metaverse space. That is the main objective of this course. Thank you very much, and congratulations on completing this course.
Hello to you!
Today I have some appreciative comments for you.
I want to take a moment to congratulate you on fully completing this course.
Your dedication and perseverance throughout this journey have been truly commendable.
Completing a course is no small feat, and I am incredibly proud of the progress you have made and the knowledge you have gained along the way.
I also want to remind you that this course is just one piece of the puzzle.
It is part of our larger VJ Export Mastery Courses series, consisting of 28 courses that I had mentioned to you earlier as well.
These courses are designed to provide you with a comprehensive understanding of the export industry.
On my part, as I had told you earlier, I am committed to helping you expand your learning even further by giving you access to more similar courses in the series. On your part, I again have a small request.
Your feedback and rating are incredibly valuable in refining this course and ensuring it remains world-class.
I kindly ask you to leave a rating for the course along with your honest feedback, in case you have not done so yet.
Once again, congratulations on completing the course.
Keep up the fantastic work that you have done here, and remember, I am here to support you every step of the way.
Even after you have completed this course, you can reach out to me anytime for any mentoring or support that you may need.
Thank you very much.
Hello and welcome, and thank you so much for completing this amazing course.
I truly appreciate the time and effort you have invested in developing all types of skills, whether related to export documentation, compliance, international regulations, logistics, or global marketing strategies.
In this short bonus video lecture, I want to share with you a few optional ways you can continue your learning journey, access additional resources, and stay connected with me for future guidance, all while remaining fully compliant with Udemy policies.
If you want to continue receiving educational content on exports, global compliance updates, HS code classification tips, EU/US regulations, logistics strategies, and real-world case studies, you are welcome to connect with me on LinkedIn.
I regularly post export-related insights, free updates, and practical examples that many learners find very useful.
Again, this is completely optional, but if you would like to connect, this is my LinkedIn profile: LinkedIn.com/in/vijeshjain. Along with my activities on LinkedIn, YouTube, Instagram, and many other social media platforms, I frequently share publicly available articles, guidance notes, and updates related to topics such as documentation and compliance, Indian and international customs rules, labeling requirements, global market trends, and policy changes in the EU, USA, UK, and Middle Eastern regions, as well as best practices for exporters.
These free resources can help you stay informed and confident as your export business grows.
For learners who need personalized clarity on specific export matters, such as HS decisions, regulatory compliance, product classifications, labeling reviews, customs queries, international market strategies, or even Amazon US product launch advisory, I also provide such guidance outside Udemy.
If you ever require any of this tailor-made support, you may contact me directly. My email ID is vijesshjain@gmail.com.
Please note that this is only an optional way to reach me outside Udemy, and it is not required to complete this course. It is also not part of the Udemy purchase for this course, which keeps this message fully compliant with Udemy policies.
In addition, I want to cordially invite you to my Discord Knowledge Hub, which has several channels, including the Q&A section, discussion channel, discussion lounge, video lectures channel, and announcement channel. No registration is required to access this knowledge hub or any of these channels.
Simply click the invite link, which is also provided in the resource section of this lecture, and you can access my Discord Knowledge Hub.
Before I close, I want to sincerely thank you once again for joining this course.
I truly hope that this specialized training has added real value to your knowledge base and to your professional journey in international trade.
My mission is to help learners navigate exports more confidently, whether it is compliance, export documentation, import documentation, logistics, or expanding into global markets.
I wish you tremendous success in your future business endeavors, and I look forward to staying connected with you on your path ahead.
Thank you once again, and all the best in your international journey.
Take care of yourself, and see you in another course in this course series.
Dear Learner,
Thank you for completing this course. I appreciate your time, dedication, and interest in strengthening your knowledge of export documentation, compliance, HS classification, logistics, and global market strategy.
This Bonus Section offers optional ways to continue your learning journey, stay connected, and access additional guidance outside Udemy.
Everything here is completely optional, not required to complete the course, and not included in your Udemy purchase, in full compliance with Udemy policies.
1. Connect With Me on LinkedIn (Optional)
If you'd like to follow my educational posts, updates, and insights on global trade, compliance, and international markets, you can connect with me on LinkedIn:
LinkedIn (Optional):
https://www.linkedin.com/in/vijeshjain/
I regularly share free content, industry news, case studies, and compliance tips useful for exporters and global professionals.
2. Visit My Udemy Instructor Profile (Optional)
If you’d like to explore more of my courses on international trade and global business:
Udemy Instructor Profile (Optional):
https://www.udemy.com/user/vijesh-jain-4/
You can browse additional courses, all focused on simplifying global trade and helping professionals succeed in international markets.
3. Optional Personalized Guidance Outside Udemy
If you ever need individual clarity on export documentation, HS code decisions, customs queries, EU/US/UK/UAE compliance, labeling reviews, market-entry strategy, or Amazon USA marketplace compliance, you may reach out to me directly:
Email (Optional):
vijeshjain@gmail.com
Additional Educational Video Resources at YouTube: https://www.youtube.com/@VijeshJain0506
This is only an optional way to connect and is not required for completing the course.
4. Join the Free Discord Knowledge Hub (No Signup Required)
To support continuous learning, I’ve created an open-access Discord Knowledge Hub for all students.
You can join anytime to access discussions, free resources, shared insights, and regular updates.
Join Discord Knowledge Hub (Optional, No Registration Required):
https://discord.gg/wHgqdYe6tz
This community is free, optional, and designed to help learners share knowledge and stay updated with global trade trends.
5. Free Public Resources for Ongoing Learning
I regularly share publicly accessible updates on topics such as:
HS classification best practices
Compliance rules for the USA, EU, UK, and UAE
Labeling and documentation tips
Customs procedures
Market-entry insights
Global trade risks and opportunities
These resources are available on my social channels and are fully free for learners.
You can also join my optional LinkedIn Newsletter - The Management Playbook at
https://www.linkedin.com/newsletters/the-management-playbook-7065900250162483200/
Thank You & Best Wishes
Thank you once again for learning with me. I hope this course has added clarity and confidence to your global trade journey. I look forward to staying connected and supporting your continued growth.
Wishing you success in all your international business endeavors.
Warm regards,
Vijesh Jain
Export–Import Consultant & Trainer
VJ Global Academy
Embrace the Future: Explore the Metaverse-Dominated Future of International Business
Welcome to a groundbreaking journey into the future of global business and commerce - "Metaverse Dominated Future of International Business." This course, which is part of the VJ Export-Import Mastery Courses Series on Udemy, is your portal to unlocking the limitless possibilities of the Metaverse, DeFi, NFTs, and the transformative 3D landscape that is reshaping the future of international business. Get ready to thrive in the digital realm and even discover how to create your very own Meta Mall.
#Metaverse #InternationalBusiness #DigitalCommerce
Embracing the Metaverse Revolution
The Metaverse is not a distant concept; it's the here and now of the future of international business. In this course, we delve deep into the Metaverse's fundamentals, the decentralized financial world of DeFi, the explosive growth of Non-Fungible Tokens (NFTs), and the evolving 3D landscape that's defining global business and commerce. Whether you're a seasoned entrepreneur, a forward-thinking business professional, or a budding entrepreneur, this course is your guide to navigating and succeeding in the Metaverse-dominated future. #MetaverseRevolution #DeFi #NFTs
My Journey: Pioneering Metaverse Education
With over 28 online courses on Udemy, which are primarily focused on international business & management, I embarked on a quest to fill a crucial gap in the world of online education in the context of the Metaverse and its applications in international business. I sensed the need for a complete course that could unlock the learning about emerging disruptive technologies like the Metaverse, bringing them closer to learners and enthusiasts from across the world.
My mission was clear: create an accessible, foundational course that provides essential knowledge about the Metaverse, DeFi, NFTs, and the future 3D landscape of global business. This course is the result of countless hours of research, exploration, and a vision to empower learners with insights into the digital transformation that awaits us.
#MetaverseEducation #DigitalTransformation
Smooth Sailing: Navigating Your Lecture Pace
To ensure this course is fully accessible and easy to follow for our diverse community of students joining from different languages and cultural backgrounds all over the world, the default speaking pace in these video lectures has been intentionally kept steady and deliberate.
However, we want you to learn at the speed that works best for you!
Our Recommendation: We highly recommend adjusting the playback speed to find your ideal rhythm. Try boosting the speed to 1.25x or even 1.5x right at the start.
Adjusting the speed lets you:
Match your personal listening preference perfectly.
Maintain high focus and engagement.
Save valuable time as you progress through the mastery series.
How to adjust: Simply click the gear icon or the speed settings button on the video player menu and select your preferred playback speed. You can change this at any time during your learning journey!
Audio Guide:
The Audio in this course is optimized for earphones. You may still find other devices useful for clear audio.
Course Highlights: What You'll Learn
Metaverse Concepts Mastery: Understand the Metaverse's background, foundation & intricacies. How the Metaverse is slowly but steadily reshaping business and trade worldwide.
All About Decentralized Finance: Dive into DeFi & explore the revolutionary world of blockchain-based financial products.
NFT Revolution: Learn all about Non-Fungible Tokens, their impact on business, & how to leverage their role in business & trade.
3D Landscape of Global Business: Discover the 3D realms that are redefining international business.
Meta Mall Creation: Uncover how to establish your own virtual marketplace in the Metaverse.
Cryptocurrency in the Metaverse: Explore the role of digital currencies in the new era of commerce.
#BlockchainFinance #VirtualMarketplace
Who Should Enroll?
Business Visionaries: Who are ready to prepare themselves to adapt & thrive in a business world encapsulated in the Meta environment.
Entrepreneurs & New Startups: Who are striving to leverage Meta opportunities to launch & grow their business worldwide.
Digital Marketers & Innovators: Who are willing to stay ahead of the curve in the evolving landscape of global business with new disruptive technologies.
Global Investors & Crypto Enthusiasts: Who are interested in discovering Meta's investment potential & exploiting the DeFi opportunities.
E-Retailers & E-commerce Professionals: Who are looking forward to exploring the future of virtual shopping in the Meta environment.
#BusinessInnovation #InvestmentOpportunities
What is this Course all About?
Do you remember? When the 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, which was Web 1.0.
But we are in the era of Web 3.0. What is this Web 3.0 & how can you create a big fortune out of this Web 3.0, like the fortunes that are made by people in the Web 1.0 era? In this course, I'll be talking about the most interesting and disruptive technologies that are part of 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 that are connected with Web 3.0. A lot is already happening, and things have actually really changed.
Many things are not clearly known to the people in this area. And if you can learn it early, not only can you 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. 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 can you create your own metaverse? How can you sell the virtual assets or so-called Meta assets on these metaverses? How can you create your own marketplace on the metaverses? How can you create voxel objects, so-called voxel objects, on these metaverse platforms? And overall, how can you understand the future of international trade, which is emerging in an absolutely new Avatar in virtual reality? And how can these be connected with the physical assets, the physical export shipments, the goods, and the services?
This course will talk about all these concepts so that you feel confident in making a great career in these areas and start earning. In the next video, I will be making a formal introduction to the course, so you have a fairly good idea of what is covered in this course.
And that is the actual theme of this course? Thanks for joining this course.
Enroll Now and Lead the Metaverse Charge
Join me in this course titled "Metaverse Dominated Future of International Business" & embark on an exciting journey that will equip you with the accurate knowledge, insights, & strategies to not only adapt to this disruptive technology but also to excel in a dynamic world of the Metaverse. With expert guidance, real-world applications, & a vision for the future, you'll be ready to benefit from the Metaverse's boundless opportunities.
#MetaverseOpportunities #DigitalTransformation
Ready to step into the Metaverse-dominated future? Let's begin this transformative journey together.
Statutory AI Declaration: AI has been used in some parts of the content creation of this course.