Technology is always advancing and through it so is marketing. The evolution of the Metaverse is the latest development in the world of technology, and this will revolutionize the marketing & visual media industry.
What is the metaverse?
Simply stated metaverse is the digital universe in which we all exist. Currently, the metaverse is still a theoretical concept and we have only begun laying the foundations for it.
The metaverse at its maximum will be an entire universe that caters to every physical need through a digital platform. This includes everything from your digital life, work, and leisure.
What are NFTs and what role do they play in the Metaverse?
An NFT is a non-fungible token, in simpler terms its the right of ownership of a digital asset. We have written about NFTs in depth before . Currently, a majority of the NFTs are all virtual avatars that may be used in the Metaverse. However, they can be a great many things once the technology for the Metaverse advances. With the increase in virtual avatars, the demand for virtual fashion will skyrocket. The need to personalize oneself within the digital space is undeniable and fashion is one of the easiest ways to do so.
Marketing in the Metaverse
Similarly to any other space, marketing will be an essential part of the culture to facilitate the spread of information. Below are some ideas we have had on how the marketing world will look in the Metaverse.
1. Targeting & Branding
Virtual Avatars as NFTs are the first step into this world and they play an important role in branding a certain collection. Members of the Bored Ape Yacht Club are targeted towards a specific segment of people, Individuals that would like to be a part of an exclusive yacht club in the Metaverse. Each member is invited to yacht parties and events in the real world and the Metaverse. This leads us into the next category.
2. Virtual Events
In this post-COVID world, it’s clear to imagine the need for virtual meetings and events. From family get-togethers to concerts to galas, the Metaverse will have no limits on who you can meet up with, when, and where. Rappers have already performed multiple concerts in the metaverse. The popularity and the overall execution of these events show the great potential of the Metaverse
3. Virtual Popups
The virtual location will not only increase the attendance, but it will also improve the overall revenue. Through the virtual popup we simply eliminate all the logistics and operational costs associated with the popup.
The metaverse as imagined by the tech giants is still a long way into the future. However, it is vital to understand that it will play a big role in the future to come and we should all try to understand and prepare for our journey into the metaverse.
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