Your Guide To Metaverse Marketing, “The Future Of Retail”

Your Guide To Metaverse Marketing, “The Future Of Retail”

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October 21, 2022 by Diana Ambolis
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New technologies continue to emerge along with the technology sector’s continued growth. Blockchain and cryptocurrency were discussed after robots or the Internet of Things. The metaverse is the term of the year for 2022. The concept of a persistent online 3D universe that mixes several virtual locations is known as the “Metaverse.” Thanks to the
Your Guide To Metaverse Marketing, "The Future Of Retail"

New technologies continue to emerge along with the technology sector’s continued growth. Blockchain and cryptocurrency were discussed after robots or the Internet of Things. The metaverse is the term of the year for 2022. The concept of a persistent online 3D universe that mixes several virtual locations is known as the “Metaverse.” Thanks to the metaverse, users will be able to collaborate, interact, play, and socialize in these 3D places. Here we will discuss more about the revolution called “Metaverse Marketing.” This industry is expanding exponentially. As more and more businesses establish themselves in the Metaverse, they experiment and look for new opportunities.

Additionally, the Metaverse is evolving into one of the most effective platforms for marketers to connect with the Z and Millennial generations. We already have some success stories, even though the long-term benefit of investment in the metaverse cannot yet be measured.

The Metaverse’s marketing is it working?

Brands that wish to establish a marketing strategy centered on the Metaverse have a variety of choices and approaches from which to choose. Below, we discuss a few of them:

Corporate culture change

Before launching a marketing campaign in the metaverse, your brand must assemble a team of subject-matter experts and acquire the required technology resources. A complex idea, the metaverse is connected to other complicated ideas like blockchain and cryptocurrency. It’s also crucial that the non-project participants in the company comprehend some fundamental concepts about the metaverse, the campaign’s goal, and its target audience.

Transform a real-world event into a virtual one

Moving the experiences they now provide in the physical world to the virtual world is the first step for many businesses. As an illustration, the fashion brand H&M hosted a real-time fashion presentation in the metaverse where avatars were made.

The metaverse’s advertising

In this situation, we can also move the traditional advertising that the business uses to the metaverse. For instance, the video game advertising technology business Bidstack transitioned from working on outdoor advertising in the real world to presenting adverts on virtual billboards through metaverse marketing.

Blockchain technology produces digital assets known as NFTs or Non Fungible Tokens. These tokens are distinctive, personal, and collectible.

Numerous companies and artists have made their NFTs available for users of the metaverse to use or collect. For instance, three distinct NFTs for distinct Barbie and Ken avatars that can be utilized in the metaverse have been issued by Barbie and Balmain. Ferrari is yet another illustration. Ferrari has entered into a multi-year deal with the Swiss technology firm Velas Network to produce digital material for the metaverse.

Alliances with already-established platforms

Collaborating with established platforms with a solid reputation and with partners with prior expertise on this platform will be crucial for a successful debut in the metaverse.

For instance, many avatar plugin companies come through a Roblox collaboration. Online gaming platform Roblox had 43.2 million daily active users in 2021 and a $38 billion market cap. Similar to O2, who collaborated with already professional developers on the Fortnite platform, O2 also held a concert in Fortnite last year.

A lot of live interactive events (MILES)

MILEs are virtual events where many people participate in a single simulation to engage and affect a game or event in real time. For 12.3 million Fortnite players, Travis Scott performed a live concert in the music industry. On the other hand, Balenciaga created the computer game Afterworld to showcase its fall 2021 collection.

Optimization for search engines (SEO)

The metaverse’s version of search engine optimization is still mostly unknown. This will be a crucial subject to research once the metaverse is established. According to some reports, Google may adopt a more immersive strategy and provide a search engine that enables users to browse websites in Virtual Reality.

Also Read: The 3 Biggest Challenges Marketing Faces in the Metaverse

Examples Of Metaverse Marketing

World Vans

Roblox and Vans launched the Vans World together. Users can discover new skate areas, learn new tricks, and collect waffle coins to unlock stuff in this virtual environment. They can also design their own unique Vans shoes similarly.

The Gucci Virtual 25 is a pair of limited-edition digital sneakers from Gucci. It was unveiled in March 2021. These can be worn in augmented reality (AR) or related apps like Roblox and VRChat. Gucci then launched the Gucci Garden on Roblox in May 2021. This digital experience goes along with the Gucci Garden Archetypes installation that was physically present in Florence, Italy.

Coca Cola

1956 vending machine is the token. It has a metallic red bubble jacket modeled after an old corporate uniform. In July 2021, Coca-Cola released an NFT collection, which sold for $575,000 at an online auction.

The metaverse’s potential

As we have seen in prior cases, more brands are entering the metaverse. The augmented reality (AR) and virtual reality (VR) industries are expanding, creating more business prospects. But not just for-profit companies are placing bets on the metaverse. Public organizations, for example, are investigating their options in the online environment. In November 2021, the city of Seoul declared that it would invest $3.3 billion to become the first city in the world to be a part of the metaverse.

Exploring the metaverse as a marketing avenue is undoubtedly a wise choice. However, the entrance must be cautious and thoroughly thought out. Technology is still rather young. Brands must consider the importance of receiving sound guidance to avoid issues with the law, technology, or finances.