Business

Business opportunities in Somnium Space

Somnium Space is already delivering on its promises of being an open, social and persistent VR world. Since the official launch on February 20th, 2020, Somnium has been buzzing with activity. Many builds with a wide array of styles have been created and uploaded and whoever we talk to, people’s eyes twinkle with excitement. They meet, socialize, create, share, build.

But the impact of Somnium Space goes beyond turning ordinary people into architects.

Virtual reality is in full development and taking the leap from gimmick to trans-formative mainstream technology. A technology that will revolutionize the way people work, play, hangout, and collaborate. The excitement around it is widespread. Spatial environments and experiences will shape the future and Somnium Space is right at the forefront of these developments.

Somnium Space will without doubt become a place where people will do business. Some will create VR extensions of existing real life businesses, others will do something that can only exists by virtue of this new VR world. Either way, it will be truly exciting to see how Somnium citizens will explore new avenues and push this already amazing VR world to new heights.

As far as VR counterparts of real life businesses are concerned, think of art galleries, live concerts, clubs. It is not hard to imagine that Somnium Space will have plenty of those in due time.

Other businesses will evolve around providing some sort of service. VR allows people to collaborate beyond real life boundaries so office spaces will arise and other, service industry related business opportunities will see the light of day as well.

Yet another business will evolve around the gamification of Somnium Space itself as well as games that can be played in-world. While Somnium Space is not a game but a social VR platform, gamification and role playing will be an important element for some. It will perhaps be the very reason why they will join Somnium Space in the first place. This implies that creation of assets, games and attributes will take off as well.

As more and more people will be joining Somnium Space, there will be an increased demand for land, homes and places to hang out with friends. Some businesses will therefore specialize in renting out parcels and homes. Others may be more speculative and trade land and properties for a profit.

In the Somnium Space VR store on OpenSea you can buy land parcels.

In Somnium Space you can use teleporters to move quickly from one place to another. There is a cap on the number of teleporters and using them will cost a few Somnium Cubes (in-world curreny). Therefore, another way to earn money is to get hold of one or more teleporters and step into the Somnium transport business.

People will also create and sell tokenized assets, such as avatars, homes and a whole range of weareables. And this is where a very fundamental feature of Somnium Space comes into play. All assets that are created by users can be tokenized (turned into NFT’s, registered on the blockchain) and are fully owned by them. This is the separation of platform and asset ownership that will really drive this type of business. The (Somnium) sky is the limit.

Educators, coaches and Somnium Space will be natural allies as well. VR will bring education to the next level. And before long the first VR training centers will arise in Somnium.

This article is only scratching the surface of what is in store as far as business in Somnium Space is concerned. We will see people doing all kinds of creative things and invent businesses we couldn’t have imagined before Somnium came along.

Exciting times for business lie ahead!

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