These days it seems like you can’t escape hearing about the Metaverse and how it will be a game-changer to society. But we’re here to help you get a better understanding of what exactly it is and how it will come into play in the digital marketing realm.
What is the Metaverse?
The Metaverse can be defined as a persistent online virtual environment that incorporates a broad range of internet functions. Within the metaverse, users utilize digital avatars to explore a digital world or interact with one another to escape reality. Some modern-day examples of the Metaverse include Fortnite, Minecraft, and Roblox.
Why Does It Matter?
Being a digital function, the metaverse has many benefits to society. In a seminar at Digital Summit, Kent Lewis stated why the metaverse matters:
- It leverages hot new technologies and trends including blockchain, cryptocurrency, NFTs, and gaming.
- It will be the next big thing in terms of investments rather than going through Wall Street and the stock exchange.
- It’s pandemic-proof, doesn’t stress the supply chain, and has the potential for lowering carbon footprints by lessoning travel requirements.
How Does It Affect Advertising?
In order to stay up to date with the latest technological developments society has made, digital marketers will need to truly understand the subject and its full potential. News flash, the metaverse isn’t some trend that will go away in a few years, it’s here to stay and be the next big thing. One thing that marketers will need to keep in mind is that the metaverse is going to skew younger.
Brands can benefit by incorporating the metaverse into their marketing efforts by creating marketing experiences that tie in with real-world experiences, offer virtual advertising with virtual billboards, and make collectible items such as NFTs. (If you need to learn more about that you can click here.)
When integrating the metaverse into your strategy, you will need to create content that is engaging with existing communities. You will need to have a positive reaction from users in an effort to market to them. At the end of the day, the metaverse is primarily user-generated content and that’s key to a brand.