Marketers are following these developments

For some, the metaverse is a technological tool among geeks, for others it is the most important digital development. For just over ten months, the metaverse has been omnipresent over the heads of the marketing and tech world. However, despite the growing enthusiasm, many marketers are struggling to truly understand the dimensions of this new world. This is not surprising, because there is no standard definition yet. Rather, it is a vision that is starting to form…

Essentially, the metaverse represents a seamless convergence of our physical and digital lives, a virtual community where users and brands can work, play, relax, do business and connect.

Four major developments can be identified, and you’ll discover what’s actually possible in the Metaverse, beyond gaming and entertainment.

Our daily life and habits are moving more and more towards the digital world. This leads to the extension of the self, but also topics such as sports and wellness, to a new digital level. The tendency to deepen real-world relationships digitally and virtual through emotional elements is also part of the metaverse. In role-playing worlds such as “IMVU” and “Second Life,” thousands of people meet daily to dress, party, or date virtually.

Brands must seize the opportunity presented by the metaverse as a creative mechanism: passive consumers become creative actors who act as effective brand ambassadors by creating shared experiences in the metaverse. This creative force is laying the foundation for a new creative economy full of inspiration, exclusivity and imagination. Thus, in the game “Roblox”, more than 9.5 million creators create new experiences on all kinds of topics and fields for more than 54 million daily active users.

Qu’il s’agisse d’événements virtues, de voyages, de biens immobiliers ou d’espaces frontaliers entre le monde réel et le monde virtuel, le metaverse redéfinit ce que peuvent être les lieux de assemblement traditionéisons, unme la comé la Damage. This gives brands and users entirely new opportunities for shared experiences. A notable example is Ariana Grande’s “Fortnite” concert, which brought Fortnite players together in a new reality in August 2021 as in-game shows.

Interest in virtual real estate continues to grow and indicates that users want to own their own property within the metaverse. This creates a whole new marketplace for buying and managing virtual real estate and land. Prices are also exploding within the metaverse, with some land selling for over $4 million.

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Inspired by video games, many brands are already using the metaverse for entertainment, communication, marketing and even product design. The pioneers of immersive experiences are Nike with Nikeland and Vans with Vans World.

The metaverse will also revolutionize commerce in the long run to some extent. Shopping experiences will be easier, more immersive, and more engaging thanks to digital stores, augmented reality and virtual reality technologies. Luxury brands in the fashion industry, such as Burberry and Gucci, are experimenting with digital replicas of their stores.

The Metaverse also reveals some exciting developments at work: while remote work has always been a common occurrence in real life, the Metaverse is pushing the boundaries even further. The result is an entirely new way of working, where people will meet from home via their virtual avatars and collaborate in virtual offices. With Microsoft Mesh and Facebook Horizon Workrooms, the first tools to do just that are already in place.

Realistic attitudes and beliefs not only extend to the digital world, but also gain significant importance there. This really starts with hyper-realistic digital identities: users want to represent their identity in the virtual space, with all their physical characteristics, personality traits, and perspectives in the most detailed way possible. They want to interact with like-minded people.

New communities are emerging, called DAO (short for Decentralized Autonomous Organization) which means decentralized autonomous organization, which is based on shared values ​​and implementation of projects together. It is important for brands to exploit this trend. Because in addition to entertainment and marketing, the metaverse also offers a new venue for political, environmental or social activism. Greenpeace, for example, drew attention to the consequences of climate change in “GTA V,” one of the biggest metrics in gaming. Los Santos, arguably one of the most famous cities, has been modified to show the true effects that climate change can have.

The potential of the metaverse for engagement, community building, self-advocacy, and commerce is enormous. Brands that have been able to seize these opportunities by developing and expanding each of these areas can be keen to win over the youth and digital savvy.

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