marketers follow these developments

For some, the metaverse is a technological gadget among geeks, for others it is the most important digital evolution. For a little over ten months now, the metaverse has been ubiquitously hovering over the heads of the marketing and tech world. But despite growing enthusiasm, many marketers struggle to really understand the dimensions of this new world. This is not surprising, because there is not yet a uniform definition. Rather, it is a vision that is beginning to take shape…

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

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

Our daily lives and habits are increasingly moving towards the digital world. This leads to an expansion of the self, as well as themes such as sports and wellness, to a new digital level. The tendency to deepen real relationships digitally and virtually through emotional elements is also part of the metaverse. In role-playing worlds such as ‘IMVU’ and ‘Second Life’, thousands of people meet every day to virtually dress up, party or date.

Brands must seize the opportunity presented to them by the metaverse as a creative mechanism: passive consumers become creative actors acting as active brand ambassadors by creating common experiences in the metaverse. This creative force lays the foundation for a new creative economy full of inspiration, individuality and imagination. For example, more than 9.5 million creators in the game “Roblox” create new experiences on all kinds of themes and fields for more than 54 million daily active users.

Whether it’s virtual events, travel, real estate or border areas between the real and virtual world, the metaverse is redefining what traditional meeting places like home, an event, or vacations are. This gives brands and users whole new opportunities for shared experiences. Ariana Grande’s “Fortnite” concert, which brought Fortnite players together in a new reality as in-game shows in August 2021, is a prime example.

Interest in virtual real estate continues to grow, indicating that users within the metaverse want to own their own property. This creates an entirely new market for buying and managing virtual real estate and land. Prices are also exploding within the metaverse, with some plots being sold for more than $4 million.

guy 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 more or less long 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 exciting developments in the workplace: while remote working in real life has long been commonplace, the Metaverse pushes the boundaries even further. The result is a whole new way of working, as people meet from home through 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 to the digital world, but are also gaining in importance there. This starts with 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 as much detail as possible. They want to connect with like-minded people.

New communities are emerging, called DAO (short for Decentralized Autonomous Organization) which stands for Decentralized Autonomous Organization, which are based on common values ​​and carry out projects together. It is important for brands to respond to this trend. Because in addition to entertainment and commercialization, the metaverse also offers a new place for political, ecological or social activism. For example, Greenpeace drew attention to the impact of climate change in “GTA V”, one of the biggest metaverses in the world of gaming. Los Santos, arguably one of its most famous cities, has been adapted to the real-world effects that climate change can have.

The potential of the metaverse for engagement, community building, self-help and commerce is immense. Brands that manage to seize these opportunities by developing and expanding each of these areas are sure to appeal to the young and digitally savvy.

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