Metaverse and New Age Marketing

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Metaverse has entered the news like a storm, and we are surrounded by new cutting-edge technologies that will enhance our daily life (that’s what they say, at least). Facebook made the next significant step into the metaverse when it became Meta in October, a networked virtual environment for social connection and engagement via the internet and augmented and virtual reality headsets. The term Meta came in science fiction back in 1992 and it is important to understand Metaverse is not related to Facebook, but Facebook is the biggest investor in the metaverse.

“The metaverse refers to online experiences that are highly immersive, such as virtual reality (VR), augmented reality (AR) and interactive video” (source: -Forbes). So does this mean we have new possibilities in marketing? Yes!

Brands may use augmented and virtual reality marketing to create unique experiences, engage customers, and boost conversions. The metaverse is a huge marketing opportunity for physical merchants. In the metaverse, you might be able to make Facebook ads, set up your own virtual store, or organize events like immersive conferences. Gamification of brands is another way in which brands can utilize the metaverse (or VR and AI) for creating brand awareness.

Nike and Adidas have already put their hands on metaverse. They released their first NFT (non-fundable token) collection. Adidas has also announced that it has purchased a virtual parcel of land within The Sandbox, which it plans to fill with exclusive content and experiences. On the Roblox platform, Gucci launched a Gucci Garden, a virtual extension of the real-world experience they had previously constructed in Florence, Italy. They also unveiled a limited-edition pair of digital sneakers. Other giants are also planning to put their money into the metaverse.

Businesses of all sizes and sorts will benefit from the metaverse's various options to reach a larger audience. You won't be able to learn everything all at once. It should reassure you that no one is an expert because the metaverse is still in its infancy.

- Jyothish Kumar K

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