Blockchain, NFT, Metaverse, these three words undoubtedly seem familiar to you given the news of recent weeks among the giants of Tech but also famous brands such as Gucci, Louis Vuitton or even famous artists. The Metaverse, this new world made of 3D, virtual or augmented reality, but also blockchain and NFT has become the new fashion of the technology giants and the promise of a new business model for many traditional brands. Beyond the ad effect, what is the Metaverse made of and why could it supplant the Internet as we understand it today and reinvent brand marketing? Focus on the launch of Kinahan’s Whiskey, a pioneering whiskey house that in turn is launching itself into the Metaverse and reinventing the consumer experience.
The advent of the Metaverse, this new world between real and virtual
It will not have escaped anyone, both the Metaverse and the NFTs have recently made headlines and announcements from web giants. And if the phenomenon is not new, it is still undergoing a strong impetus, particularly driven by the blockchain and NFT ecosystem.
The term Metaverse first appears in 1992 in Neil Stephenson’s dystopian novel, “Snow Crash”. But the concepts of virtual reality and augmented reality come a little later, even if our parents must have already known them through the science fiction books that have widely communicated on the phenomenon.
And if for a long time people have imagined the Metaverse as the impenetrable, the year 2021 will mark a turning point.
While the giants like it Facebook, Twitter, TikTok, Microsoft or even they are launching big luxury brands, the term is no longer a mystery to anyone and the advantages of going to the Metaverse are beginning to be seen. More and more brands see in this universe the means to bring their community together, make it more powerful and maintain it.
The recent promise is that of a Global metaverse, which would include connected and shared virtual worlds. We could live in these virtual worlds with our friends for our personal pleasure or with our associates for our work and thus evolve into another dimension in our consumption and work habits.
The metaverse is particularly enabled thanks to blockchain technologies, artificial intelligence but also virtual, augmented and obviously 3D reality. This new phenomenon is considered by some to be the future of the Internet.
Today, more and more brands are getting into it. From the world-famous Gucci and Louis Vuitton shows, to the concert organized on Fortnite, a whole new section of the world economy is trying to take over this technological revolution like the internet 30 years ago.
The blockchain technology (and cryptocurrencies) allows the metaverse to provide interoperability, digital proof of ownership, digital asset collection (such as NFT), cryptographic value transfer, governance, etc. and the whole challenge is to avoid the re-centralization of a decentralized phenomenon thanks to the underlying technology.
To give you a tangible example of the phenomenon, the game Roblox, well known in the metaverse, already manages to bring together more than 42 million users every day.
As we can see from the graphic above, many players are already making their mark in the Metaverse universe and the “greats” are starting to break through like Decentraland, Sandbox, Roblox, Fortnite … This week, Metaverse tokens like Mana (Decentraland), has recorded triple-digit 7-day earnings while cryptocurrency market capitalization has reached $ 3 trillion.
Recently, visionaries launched the Metaverse ETF, which is an exchange traded fund. This particular ETF allows people to invest in a collection of companies that are already making the metaverse a reality or are positioned to do so in the future. Bloomberg recently estimated the size of the metaverse market at $ 800 billion.
NFT and Metaverse are reinventing brand marketing. The example of Kinahan’s Irish whiskey.
The advent of NFTs and the Metaverse may still seem vague or even frightening to you, yet they are a great sign of the innovation effort and a new way to promote your brand. For example, allowing consumers to buy bags in a virtual universe can contribute to its scarcity. But the example of gaming is undoubtedly the most striking as it manages to generate revenue today and retain players.
This is surfing this wave but also taking full advantage of technologies while maintaining a DNA of heritage, authenticity and quality Kinahan’s Whiskey, a famous pioneer of whiskey house of its kind, is also launching into the third dimension.
Created in 1792, the Whiskey House is not its first attempt as far as original collaborations are concerned. This summer, Kinahan’s launched, in collaboration with Morysetta, a well-known artist in the NFT universe, a Formula 1 in the form of NFT and in 3D / AR. Containing the exclusive title of Rarible.com during Lewis Hamilton’s thrilling British Grand Prix victory, these NFTs are the house’s first milestone in the cryptocurrency universe.
On line, Kinahan’s announces the exclusive launch of its metaverse to have digital ambassadors to promote the brand tomorrow : an undertaking that still elevates them to the top of the pioneers. This new generation of digital brand ambassadors aims to improve the consumer experience through cutting-edge technologies.
To work on this new shift, the whiskey brand has been able to count on Generation7Group (G7G) which supports it on the business model and on the evolution of NFTs.
Kinahan’s Metaverse projects will include 3D and augmented reality objects, ranging from digital whiskey barrels, other items of the brand made in collaboration with artists.
Virtual ambassadors will be able to evolve into other worlds. The first ambassadors will appear on November 15, 2021 on various media platforms. They will be part of Kinahan’s marketing campaigns for existing and future whiskey lines, as well as other digital products, including NFTs.
It is a strategic shift undertaken by Kinahan and the ambitions do not stop there as one can imagine the limitless possibilities allowed in the Metaverse.
This new example shows us the extent of the phenomenon, and it also demonstrates it the interest in combining authentic and ancient brands with new cutting-edge technologies to continue to reinvent itself and provide an increasingly exclusive service to consumers.
Brands are therefore at a turning point in their history and need to review their communication strategy. In the metaverse, the consumer is no longer really a natural person but becomes an avatar and Cathy Hackl, an expert on the subject, therefore suggests developing a new communication model: D2A (Directed to Avatar). The interest also lies in the fact of coupling the virtual and real world by offering, for example, accessories or clothes worn by the avatars and which can be ordered in physics, as happened in the collaboration between Roblox and Gucci.
From product placement during an event, a creation of virtual shopping centers, or the possibility of using virtual reality trying on garments directly at home, highlighting your brand becomes child’s play with endless possibilities in the metaverse.
An important criterion is to be taken into consideration in the virtual universe: the presence of avatars. The consumer assumes the appearance of an avatar, a fictional and fictional character to whom he will give a certain personality and appearance.
For a brand, therefore, it is important to understand the problem and behavior of these virtual characters to direct his speech and offer his products and services to the right people.
Like Kinahan’s whiskey, the future of marketing in the metaverse is full of promise, and even if questions arise, everything remains to be invented.
<< Leggi anche: La battaglia delle nuvole non è persa >>>