The metaverse has been spoken about a lot since Facebook rebranded itself as Meta. Being much larger than Facebook, metaverse is a rapidly expanding trend that will have an impact on business, culture, entertainment, and marketing. That is why it is critical for business owners to keep an eye on what is occurring in this dynamic industry.
Explaining the Metaverse concept
A relatively new term “Metaverse” first appeared in the early 90’s in a “Snow Crash” sci-fi novel. During the last few years, it has become a synonym for the next phase of the Internet. The fact that Facebook rebranded as Meta demonstrates how popular this concept has become. It’s crucial to note that Facebook does not own the metaverse; it’s simply the largest company to participate so far.
The major metaverse trends are highly immersive online experiences, such as augmented reality (AR), virtual reality (VR), and interactive video. It aspires to elevate the internet experience by constructing a whole environment in which people may socialize, conduct business, and enjoy immersive entertainment.
Here are the areas that are supposed to be the most impacted by Metaverse:
Gamers will be right at home in the metaverse since they are already passionately adopting artificial worlds and participating in virtual adventures.
- Virtual Property
The concept of owning virtual land may still sound strange, but some virtual land plots that can be used for creating a shop, hosting online events etc. have been sold for million dollars already. The value of virtual property is proportionate to its popularity and traffic.
A non-fungible token (NFT) is a digital asset that exists on the blockchain. NFTs can’t be duplicated due to a unique identification code and are usually purchased with cryptocurrency.
Metaverse and New Marketing Opportunities
Even if your business is not related to gaming or cryptocurrency, with a wise marketing approach, you can still benefit from new marketing opportunities available in Metaverse.
Shopping in social media complemented by augmented reality is a major trend of the future and one of the fastest-growing markets. Researchers state that digital interactions with goods and services via AR/VR content reach a 94% higher conversion rate compared to 2D interactions. So, shopping using AR has a very good chance to become a game-changer for retailers.
360 Degree Marketing
360-degree video is a powerful marketing tool, that is easy to create and share. Such videos are immersive, innovative, and effective in keeping users focused on a product. Immersive videos are believed to boost the next revolution in advertising.
Using NFTs for raising brand awareness
Using NFTs for raising brand awareness.
New options in Facebook’s Meta offerings
Meta transition is still in the early stages, but at some point, Facebook will provide new ad opportunities.
Games will play a great role in the metaverse. Some companies actively use gamification for their brand promotion. For example, Nike created its own virtual world, called “Reactland” to support the release of a new shoe model called React.
The metaverse will provide broad opportunities for businesses of all scales and industries for reaching their target audience. All new concepts and tools require plenty of time and resources to familiarize with. Klik Digital can become your reliable digital ally in converting new opportunities into the competitive edge of your business. Check out our proposal
out and contact us for more information.