Sitting comfortably in your living room, grab the Oculus Rift VR virtual reality headset and place it over your eyes. And so you find yourself giving a press conference in virtual reality to journalists from all over the world in the blink of an eye.
Welcome to the metaverse, one of many opportunities for brands increasingly drawn to explore this exciting world that straddles the border between the real and the virtual.
It’s a phrase that was the domain of science fiction a few decades ago, but has recently become the focus of public debate as the next stage of technology and the Internet.
Much like brands in the mid 90’s that couldn’t ignore the dotcom craze, today’s brands are striving to understand the metaverse and how it can help them boost their online reputation.
For Edouard Fillias, CEO and founder of the digital communication agency JIN [INSERT LINK]the opportunity is unparalleled: Think of the metaverse as a place rich in a host of new social platforms, including hundreds of new apps like TikTok †
For Édouard Fillias, brands have to face a double challenge: to understand this new world, but also to navigate and behave once inside.
The metaverse: what is it and why can’t brands get around it?
Some are now criticizing the hyper hype of the metaverse, otherwise known as the fundamental concept of Web3, which, given the recent crash in the cryptocurrency market, may have already hit its speculative bubble. For others, however, the metaverse is a godsend.
This is the opinion of the CEO of JIN, an influential digital communication agency based in Paris. According to him, Web3 is the next iteration of the Internet.
Édouard Fillias is an outspoken liberal, vice president of the Think Tank Génération Libre. For him, Web3 is strongly linked to individual freedom and the growing desire of individuals to regain control of their data and identity online.
† We’ve seen these big tech companies collect a lot of personal data and create great services, but also raise questions about individual freedom, privacy and our own independence. “, explains Edouard Fillias.
Web3 is a turning point regarding these issues. If you publish a video or a post on YouTube or Instagram, it can appear on your profile, but it also belongs to the platform, which can remove it at any time. In contrast, new “blockchain” technologies create a secure system that removes the role of an intermediary, often that of large technology companies, to carry out transactions. Everything you create online in this world is your property. Portability, the ability to transfer data from one platform to another, also reduces the network effects that have allowed tech companies to collect so much data and become so powerful.
The Metaverse sits at the center of it all. It is a digital extension of the real world in which we can virtually communicate, interact and collaborate with each other, and store our digital assets.
Édouard Fillias draws a parallel with some of the online multiplayer games like World of Warcraft and Dungeons and Dragons. This gives an idea of their ability to promote the community in immersive digital environments. In addition, new incentive dynamics, such as NFTs or Play To Earn games, can reward customers for their interaction.
How can digital agencies support companies in their metaverse strategy?
For Fabien Fichet, account manager and metaverse product manager for the JIN office, the strategy proceeds in 3 phases.
First, there is the learning expedition. Basically, it’s about training the team to make sure they have a full understanding of the world they are about to enter. This includes navigating the world of cryptocurrencies, NFTs and extended reality (XR) among others. Overlapping universes mapped out to help users navigate their way.
† We take the leadership group into the metaverse for a day » explains Fabien Fichet. † We give them VR headsets, create avatars for them and let them really try this world out †
The next step is to build the headquarters in the Metaverse. It is a matter of understanding how a company, a brand wants to physically establish itself in this virtual world.
† The questions we investigate are “Should you create NFTs?” and “Should you create a virtual office space?” ”, analyzes M Fichet.
Finally, there is one last step and not the least. The JIN agency calls it “extended activation”. It’s all about helping brands stand out in this world.