“We put on our music on Spotify and in two years, I made $6. For me to post something in the Metaverse and gain 15% off it when it sells on to someone else is amazing.”

Just one of the things we heard from a participant in our recent research into the metaverse - research which underpins our new site ‘A Better Metaverse’. 

We also heard: “It’s a new opportunity for many individuals from minority groups of people to express themselves and pursue new ideas. Also, new economic opportunities.”

Both of these came from women.

In fact, 42% of our respondents who identify as women said they saw entrepreneurship as one of the main benefits of the metaverse - vs just 30% of men.

When we ploughed through the research, there were a lot of surprises. But nothing was more exciting to me than finding out that the metaverse has the potential to become a thriving hotbed for women’s economic opportunity.

Women see it as a space to participate but also make money.

To uncover this insight, we conducted a quantitative survey with 1,570 Aglet players to understand better their views of the metaverse and its potential impact on their lives. This also included a number of qual research groups.

What we found was that one of the main reasons for this entrepreneurial spirit is that the metaverse is currently free from the patriarchal systems that define the real world we live in. Of course, it’s not without challenges and prejudices (which we also deep-dive into in the site), but women do appear to feel less encumbered by the same restraints we face in the physical world or web2 today.

And because the metaverse is being designed from scratch bottom up, people are making what they want of it, and without the baggage and barriers of the real world. Women are seeking the freedom, liberation and opportunity that a new world, with new codes and conventions, can offer.

When we take a step back and look at the types of brands and sectors that have already made early forays into the Metaverse, they are typically sectors that women engage highly in, such as gaming and fashion. They have either already spotted this entrepreneurial spirit or helped inspire it - or maybe both. What came first, the virtual egg or the virtual chicken?

And now the brand bit

So if the conditions for a more level playing field are now set, brands have a massive opportunity not only to help keep it that way but also inspire others to progress it.

Firstly, they need to be the ones helping build safe spaces for women to foster this entrepreneurialism. For progress to happen, proper progress, women need to continue to feel safe in the metaverse, and brands can play a massive part in this. 

Then they need to collaborate with women artists and innovators who already work within that space. We’re still at the stage where brands are just tinkering around the edges, but by partnering with women creators who have this reach and entrepreneurial spirit, brands can not only help them thrive but also build their own reach and equity in that world.

Essentially, brands need to think about it in the same way they would when trying to credibly enter any area of culture. They need to ask themselves why they want to do it, whether it actually aligns to their brand and then make sure whatever they do is done with open and inclusive communication with their communities.

As Daniel, one of our focus group representatives, said: “We like it when brands open source their plans for the metaverse. Tell the community and your consumers why you are there, what you are trying to do and what you are trying to achieve.”

Because if they do that and are accepted in the space, the potential payback is massive. According to 33% of our respondents, brands that don’t participate in the metaverse will become irrelevant. So survival is first and foremost. 

But it’s not just about surviving. There are new revenue streams and new business models to be had. Businesses are always looking for new ways to innovate and create income and this could be it.

From a wider cultural perspective, these pioneering brands can be leaders in building a better world. A lot say they want to do it, and now they can.

By supporting the creators in the metaverse already, and making it more accessible to everyone else, they can actually start building things in a better way - more open, accessible and inclusive to all. And they will be recognised for that, as a leader in this ever-changing but early-stage space.

By supporting people in a new way and building connections and loyalty with them, they can subsequently learn from them, research with them and make them advocates and loyalists to their products. 

And they can actually achieve something that many (not enough, but many) people have been trying to do for a long time now. Properly support women entrepreneurs.