👻 Metaverse Business Status Survey Report

Haebom

May 30, 20233y ago

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A report on the state of the metaverse business, compiled by QUNIE, a consulting firm under NTT, Japan's top telecommunications company.

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According to the report, 91.9% of the companies surveyed failed to commercialize their business.

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Most failed during the initial planning or PoC stages.

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Even those that made it to commercialization mostly failed due to real-world issues in maintenance and operation.

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Personally, if you consider the general startup closure rate, nothing really stands out as unusual.

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This survey targeted companies based in Japan, as well as those that have entered the Japanese market.

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The report compared both failed and successful cases from the perspectives of planning/business model, review process, and organization/system, and identified the features common to failed attempts to commercialize.

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From the planning and business model perspective

There's a tendency to treat metaverse businesses simply as an extension of existing ones. Because of this, there isn't much recognition that they should be approached as entirely new ‘businesses’, so there are few clear ‘cash points’ and costs are rarely made visible.

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From the review process perspective

Because there was no advance research on users, the ‘target’ and ‘needs or issues’ were unclear, resulting in low value for end users. Even when formulating business plans, elements such as ‘business process visualization’, ‘risk analysis’, and setting ‘termination criteria’ were insufficiently considered.

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From the organization/system perspective

Teams showed a clear lack of specialized talent and business planning experience in ‘new business development’, ‘technology’, and ‘digital’ areas. As a result, decision-making tended to be delayed.

QUNIE_NewBiz_report_20230523.pdf4.29MB

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