marketers follow these developments

For some the metaverse is a technological gadget among fanatics, for others it is the most important digital evolution. For just over ten months, the metaverse has been omnipresent over the heads of the world of marketing and technology. Yet despite the growing enthusiasm, many marketers struggle to truly grasp the scale of this new world. This is not surprising, because there is still no uniform definition. Rather, it is a vision that begins to take shape …

Basically, the metaverse represents a perfect convergence of our physical and digital lives, a virtual community where users and brands can work, play, relax, do business and connect.

Four key developments can be identified, you will discover what is already possible in the Metaverse, far beyond gaming and entertainment.

Our daily life and our habits are shifting more and more towards the digital world. This leads to an extension of the self, but also of themes such as sport and wellness, to a new digital level. The tendency to digitally and virtually delve into real-life relationships through emotional elements is also part of the metaverse. In RPG worlds like “IMVU” and “Second Life”, thousands of people meet every day to dress up, party or virtually go out.

Brands should seize the opportunity that the metaverse offers them as a creative mechanism: passive consumers become creative actors who act as active brand ambassadors by creating common experiences in the metaverse. This creative power sets the stage for a new creative economy full of inspiration, individuality and imagination. Therefore, in the game “Roblox”, over 9.5 million creators create new experiences on all kinds of themes and fields for over 54 million active users every day.

Whether it’s virtual events, travel, real estate, or border spaces between the real world and the virtual world, the metaverse is redefining traditional hangouts such as home, an event or vacation. This offers brands and users entirely new opportunities for shared experiences. Ariana Grande’s “Fortnite” concert, which brought Fortnite players together into a new reality in August 2021 as in-game shows, is a prime example.

Interest in virtual real estate continues to grow and indicates that users want to own their property within the metaverse. This creates a completely new market for the purchase and management of virtual real estate and land. Prices are also exploding within the metaverse, with some land being sold for over $ 4 million.

man in the future

Inspired by video games, many brands are already using the metaverse to entertain, communicate, market and even design products. Pioneers of immersive experiences are Nike with Nikeland and Vans with Vans World.

The metaverse will also revolutionize commerce in the longer or shorter term. Shopping experiences will be more intuitive, immersive and engaging thanks to digital stores and AR and VR technologies. Luxury brands in the fashion industry, such as Burberry and Gucci, are experimenting with digital replicas of their stores.

The Metaverse also reveals some interesting developments in work: While remote working has long been commonplace in real life, the Metaverse pushes the boundaries even further. The result is a whole new way of working, as people will meet from home via their virtual avatars and collaborate in virtual offices. With Microsoft Mesh and Facebook Horizon Workrooms, there are already the first tools to do this.

Real-life attitudes and beliefs are not only extending into the digital world, they are also gaining tremendous importance there. We start from hyper-realistic digital identities: users want to represent their identity in the virtual space, with all their physical characteristics, character traits and points of view in the most detailed way possible. They want to interact with like-minded people.

New communities appear, called DAO (short for Decentralized Autonomous Organization) which means decentralized autonomous organization, which are based on common values ​​and carry out projects together. It is important that brands take advantage of this trend. Because in addition to entertainment and commercialization, the metaverse also offers a new place for political, ecological, or social activism. Greenpeace, for example, drew attention to the consequences of climate change in “GTA V”, one of the largest metaverses in the gaming world. Los Santos, which is probably one of the most famous cities, has been modified to show the real effects that climate change could have.

The potential of the metaverse for engagement, community building, self defense, and commerce is immense. Brands who manage to seize these opportunities by developing and expanding each of these areas can be sure to curry favor with young and digitally savvy.

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