The metaverse presents an entirely new vector for advertisers and marketers to reach their audiences. This technology signals a move beyond traditional advertising toward creating brand experiences that are more engaging and exciting than what customers experience with digital advertising today. The major benefit of the so-called ‘in-world advertising’ and product placement is that it could bring a level of realism to games and virtual events without detracting from immersion into any virtual experience.
So, what is in-world advertising? In his article, Trey Titone, VP of Client Success at Logiq Inc. defines it as ‘advertisements in the virtual world that mirror out-of-home ads that we see in the real world’. Imagine being immersed in the virtual environment in a racing video game where the virtual billboards are ads for real-world products. Some companies and advertisers are already taking advantage of the emerging trend toward placing ads in games, all the while getting real-time performance metrics. Another way to seamlessly market a brand in the metaverse is live virtual events. This can produce multi-sensory and visceral experiences similar to those in the real world. Moreover, the metaverse offers plenty of opportunities for brand placement. A particularly striking example of this is a branded world where customers can shop for virtual items using native currency.
The utopian metaverse presents a unique opportunity to build the brand from the ground up, and advertisers should consider upfront how this new iteration of the Internet will operate in the future. Although brands are now confined to promoting themselves on a single platform due to the lack of interoperability, we believe that Web 3 and NFTs may help address the issue by allowing people to establish their unique identity across any experience and seamlessly travel between branded virtual worlds.
To learn more about advertising opportunities in the Metaverse, you can read Trey Titone’s full article here.