Metaverse marketing is rapidly becoming a priority for every brand around the world. With tech giants constantly developing and investing, the metaverse is sure going to be a big part of the consumers’ lives. Epic Games have announced its goal of building the metaverse. Facebook, now Meta, has bought Oculus VR, which is essential in online universe development.
Besides the major tech firms, this new world is of special interest to Gen Z, the digital natives behind the drive. Many are curious about the metaverse platforms and how can they be a part of the ongoing craze.
In this blog, we’re going to discover the following:
What is the Metaverse?
Metaverse, although sounds complex is very easy to understand. Similar to games, it is an online world that is editable and customized according to requirements. But the main aspect of metaverse that is attracting everyone’s attention is its interactivity through virtual photography.
Consumers can create an avatar that reflects themselves and can enter the metaverse. In the online world, users can communicate, walk, shop, and play around as per their will. Metaverse mirrors real-life, except everything in it happens virtually.
Mainly run on 3D technologies like virtual and augmented reality, the metaverse is more than an online space.
Why do Consumers need to be on the Metaverse?
Many metaverse platforms offer many choices to represent themselves in the online universe. Customers, especially Gen Z want to express their true selves which is not readily easy in the real world. On metaverse, they can seamlessly achieve their desired looks, chat with anyone, and hang out as they wish.
This freedom of expression is what makes metaverse a trending topic in recent times.
Metaverse is a mixture of multiple virtual spaces. Each of these spaces can be designed creatively and beyond imagination. Metaverse marketing mostly runs on features and experiences that are simply impossible in the physical world. Users can be part of these realistic 3D experiences.
These immersive VR experiences alter the perception of users, making them feel like they are truly in a different world. They are fun to be a part of and make the time of customers a memorable one in the alternative universe.
Visualization and Customization
Online shopping was definitely a breakthrough at the intersection of technology, commerce, and consumption. Metaverse marketing takes e-commerce to a whole new level through realistic visualizations. Online universes allow users to view products much closer and in a different light.
As opposed to general physical products, every virtual product in the metaverse can be personalized. 3D creative studios use virtual photography instead of traditional photography to achieve the desired level of customization.
Digital assets are going to be important both for consumers and creators in the metaverse.
Major Metaverse Platforms
Founded in 2015 by Ari Meilich and Esteban Ordano, Decentraland is dubbed as one of the oldest metaverse platforms. It is an open-source 3D platform with its own cryptocurrency, MANA. The virtual space runs on Ethereum blockchain where users can buy land, virtual goods as NFTs with MANA. Each piece of LAND is marked and identified by specific coordinates that are limited in number.
With its own currency SAND, the metaverse of SandBox cannot be missed. From a gaming company, it has grown into providing blockchain features and currently to a metaverse developing entity. Together with leaders in entertainment, film, music, gaming and finance, it has set its mission to build a Virtual Mega City.
The pioneer in Metaverse marketing, Sandbox simply doesn’t want its space to be a replica of Hong Kong. It wants to build a cultural city that is full of Hong Kong talents and is directed into the future. Therefore, it allows users from various sectors to buy virtual LAND and build their own world and game experiences.
Previously Facebook, Meta has taken up the responsibility of breaking down more barriers, in this case, physical barriers. It aims to build realistic 3D meeting rooms, interactive virtual offices using AR, Virtual, and other extended realities.
While other companies are building metaverse for socializing, Meta is more inclined to create a virtual work-friendly universe.
Starting off as a gaming platform in 2004, Roblox is leading the transformation of metaverse as a socializing space. It has many virtual features that make people feel close to the real -world. For instance, it offers voice chat to its users, to replicate conversations in real-time. Also, it launched digital clothing, where avatars can be dressed as desired by the consumers.
Besides chat and apparel, Roblox also helps people to build their own virtual homes, find employment and do many more adventures.
Metaverse allows consumers to full express themselves while experiencing the stunning creations of online universes.
The Future of Human Connections
Every industry and consumer has their own predictions about the transformation is going to bring. Nonetheless, there are some common themes across these predictions.
Firstly, there is no end to the running of the digital world. In other words, activities in the metaverse go on forever. This presents amazing metaverse marketing opportunities for brands. Especially, global brands catering to diverse geographical regions can keep promoting limitlessly.
Secondly, more than a different world, metaverse would be like a continuation to real life. Events, tours, launches in the virtual world will be first promoted in the physical world. Also, through personalized features, metaverse creates a unique experience for each of its users.
Thirdly, the metaverse is going to evolve as a major business hub. More to a space of expression, companies will set up virtual stores, do metaverse marketing and sell products as NFTs. Also, 3D digital artists will create assets like virtual clothing, 3D digital art, that will garner more value.
Fourthly, content and experiences will dominate the metaverse. Especially realistic digital content like VR branding, 3D rendered visuals and animations will draw people to the online world.
Lastly, consumers will have a new way of living where they can connect with anyone across the world. Through their expression of true selves, they will form deeper connections not only with other avatars but also with brands. Simply put, human connections are about to evolve.