Metaverse masala: GreyMeta’s secret ingredient for Indian dominance

Learning outcomes To expose students to the complexities of strategic decision-making in the metaverse ecosystem, where market uncertainties, shifting investor sentiment and evolving technology landscapes require executives to balance growth opportunities with business sustainability. To help students develop an appreciation of the challenges and opportunities in pivoting business models within emerging technology sectors. Evaluate the strategic considerations for expanding from virtual property management into gaming and digital payments, while maintaining core competencies and stakeholder trust. Expose students to the critical factors involved in identifying and executing market entry strategies in high-potential sectors, considering both organizational capabilities and market dynamics in an emerging economy like India. Evaluate and appreciate the role of various stakeholders - including investors, corporate clients, end-users and technology partners - in shaping successful business model transformations in the metaverse space, ensuring sustainable competitive advantage and long-term growth. To help students understand the interplay between technological innovation, market dynamics and business strategy in emerging markets, particularly focusing on how companies can leverage unique market characteristics (like India’s demographic dividend and digital infrastructure) for competitive advantage. Case overview/synopsis Set in December 2022, this case examines GreyMeta, an Indian metaverse startup at a critical strategic crossroads. Founded by Dr Karan Sharma, the company initially focused on virtual property management and consulting services for businesses seeking metaverse presence. Despite early success, GreyMeta faces declining investor confidence and market skepticism about the Metaverse’s viability. The case explores potential pivot options into gaming and digital payments, sectors showing genuine traction in India’s metaverse landscape. Through GreyMeta’s strategic dilemma, the case facilitates discussions about business model adaptation, market entry strategies and decision-making in emerging technology markets. Complexity academic level This business case study has been designed for a Master’s-level (MBA) academic audience. Supplementary material Teaching notes are available for educators only. Subject code CSS 11: Strategy.