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July 22, 2022

How The Metaverse Impacts Marketing


The metaverse is currently still a virtual blank slate for marketers. Some may compare the metaverse to the internet being born, early adapters and brands who mastered traditional web marketing thrived.The metaverse allows marketers to target audiences in an innovative way on an entirely new medium.This is already happening, and has been for a while on a smaller scale than what’s yet to come. Luxury brands like Gucci and LV have hosted fashion shows in metaverse lands, brands are creating exclusive NFTs, and traditional billboard advertising can be seen through oculus glasses.

As part of a marketing strategy for the metaverse, marketers need to unlock the power of new technologies by layering virtual reality with augmented reality and artificial intelligence. Brands need to completely rethink their communication and sales narratives in three dimensions, instead of traditional marketing strategies.

Branding Through Metaverse Marketing

Gucci was in the game before other brands could even think. Reports from Verge say that the luxury brand released an exclusive digital pair of sneakers in March 2021 called The Gucci Virtual 25 that “can be ‘worn’ in augmented reality (AR) or used in partnered apps like Roblox and VRChat.”

Hyundai Motor Company launched Mobility Adventure, a metaverse space on Roblox featuring Hyundai Motor’s products and future mobility solutions.By familiarizing young consumers with Hyundai Motor’s products and future mobility solutions, Hyundai Mobility Adventure nurtures long-lasting relationships with fans.

AR/VR  

We’ve seen how the gaming world has dominated virtual reality. Virtual reality experts forecast that millions of people worldwide will increasingly use Virtual Reality and Augmented Reality for re-imagining their digital experience and taking their digital journey to an altogether different level. Today’s internet is built on fixed broadband, while the Metaverse will be built on a dynamic combination of a 5G network, artificial intelligence, and edge cloud processing. This will make it easier to successfully deliver smoother, enjoyable and cost-efficient AR and VR experiences to users across multiple connected devices all at once.

The popular game Pokemon Go is an example of how our current world and virtual world seamlessly combine. Players roamed around taking their cellphones in their hands and caught imaginary pokemon that could be found anywhere from a public park to a massive shopping center.

Gaming and The Metaverse

One of the first things that come up in people’s minds when it comes to Metaverse is gaming. Video game companies, with the pandemic and the rise in popularity of esports, have risen to one of the highest value companies in the world. It has brought different industries to do projects together.  

Balenciaga, a high fashion brand, staged its dystopian autumn/winter 2021 runway show with the use of Oculus virtual reality glasses and also released a video game called Afterworld: The Age of Tomorrow. Video game studio Dubit has also collaborated with Roblox and will host the first esports league in the Metaverse with funding that has reached US$8 million.

Content Creation In The Metaverse

The metaverse will be a haven for content creators and influencers to hone their craft and well, influence. Massive collaborations with celebrities and online creators are already taking place. Fortnite, one of the most famous games played by Gen Z, collaborated with big names like Ariana Grande for a virtual concert to an audience of millions of people.  Roblox hosted a concert with rapper/singer, Lil Nas X.

Ultimately, the metaverse offers a promising future for advertising and the internet. Even more so, it offers new innovative opportunities for marketers and brands alike. Creating an altogether different content strategy that engages an audience for whom virtual reality will become a second home, is going to be the biggest challenge. Concentrating on the never-ending elements of campaigns and current marketing challenges can help brands prepare for what’s ahead.  

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