To some, the metaverse is the next evolution of the internet: an open, engaging, 3D, shared digital space in which users will work, play, shop, and exist. Others consider the term a buzzword—just another trendy concept that will never come to fruition. Regardless of this debate, the metaverse proves to be an enticing frontier for marketers, with a low entry point and general intrigue for the concept.
In his recent article, Steven Van Belleghem, co-founder of nexxworks, investigates brands’ entries into the metaverse. He categorizes their activities into six categories: advertisements, virtual influencers, advergames, virtual venues, virtual events, and metaverse commerce. A few categories mix traditional marketing and the metaverse, with companies setting up virtual billboards or audio ads in metaverse space. Yet, there is innovation, too, with brands taking gamification even further and creating their own digital games. They scatter subtle advertisements for products or places throughout the games, luring consumers with exciting gameplay.
While the staying power of this virtual world is debatable, its relevancy and the opportunities it presents for marketing and customer experience are not. What other ways will brands innovate in this new landscape?