Metaverse and Advertising: should my brand enter now?

Metaverse and advertising. What point are we at? Should my brand already be in the Metaverse?

Is it true that the metaverse It is already a reality and brands should get into it as soon as possible? The short answer is no. Not only has it not arrived, but it is in a very embryonic phase. However, it is important to understand what it is to decide to what extent the presence of our brand in it will be relevant.

what is the metaverse

The metaverse, although still in an early phase, is an emerging reality that represents an alternative virtual reality where people and companies interact in ways similar to the physical world. Although it is not yet fully developed, some companies are already taking the first steps so that this environment becomes an important part of our lives.

Companies that have already taken the first steps in the metaverse

In the leisure and video game sector, the names that sound the most in relation to the metaverse with Epic Games (Fortnite), Roblox or Decentraland, who have made socialization in virtual environments completely normal. And not only that; The last two allow their users to create their own worlds and even monetize it. For example, designing theme parks or art galleries that can be visited by other users for whom an entrance fee is charged.

But there are possibilities in the metaverse that go far beyond video games and entertainment. Companies of the entity and influence of Nvidia (a leader in artificial intelligence and architect of the computer graphics revolution in the late 90s), maintain that the metaverse can be used to demonstrate products or to simulate production and logistics processes. So companies would accelerate their workflows.

Nor should we lose sight of giants like Microsoft, whose current business strategy consists of positioning its services in the cloud with the aim of them becoming the fabric of the future metaverse.

And what should finally give us the measure of the importance of the metaverse is the fact that teleworking and hyperconnection They have come to stay. People We have already begun to get used to a type of purely digital social relations. Social networks and tools like Zoom or Teams can be understood as previous steps.

Should my brand enter the metaverse?

Of course, the big brands are already betting on it. This is the case of Nike, which has created its own universe: nikeland. In this virtual environment, users can play games already created by the brand, design their own and win prizes to exchange for sneakers and sports equipment for their avatars. The issue, of course, is that not all companies can make these types of large-scale moves. However, Balenciaga has created its collection for the game League of Legends and Zara has launched the AZ Collection that the avatars of Zeppetto They can show off with the same freedom as buyers who go to the chain's physical stores.

Social commerce: the previous step

It is likely, however, that your company cannot commit to this type of action at this time. Don't lose sight of them, expand your field of vision and familiarize yourself with this concept: social commerce. In the United States, this type of transaction is already the most relevant within electronic commerce and has moved $36 billion in 000.

People connect and buy on social networks, it is a fact. And social networks themselves are evolving towards the metaverse through the creation and popularization of virtual exhibitions or fashion shows that translate into physical sales, but also virtual ones. This is the case of Sotheby's, the well-known betting house that has already launched its own curated virtual art gallery. It is located in Decentraland.

You also cannot lose sight of the phenomenon of NFTs, which are marketed through blockchain and which currently represent a true revolution.

If you want your brand to enter the metaverse, our advice is that you do it using the always recommended trial and error method, taking into account your personal objectives and the possibilities of your budget. Although it is not yet publicly accessible, it is likely that this alternative reality will end up becoming the next model and scenario for human relationships, so it should not be lost sight of.

In summary, while the metaverse is still in its infancy, it is important to stay on top of its development and explore opportunities in social commerce as a first step. If you have the possibility and resources, a metaverse incorporation strategy may be a relevant option in the future.

And, if you need help when making these decisions or any others that have to do with your online marketing strategy, Get in contact with us.