The metaverse holds tremendous promise for advertising efforts, as this new realm opens up new shopping experiences for consumers. The virtual existence of major brands like Coca-Cola and Walmart in this universe is inspiring new waves of businesses to jump on board with this digital advertising frontier.
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Marketing and Advertising
While it still has quite a journey ahead, metaverse advertising will upset the world of digital marketing but in a very positive way for businesses and ad agencies that tag along.
Can You Advertise in the Metaverse?
Several connected virtual worlds make up the metaverse, and all that makes it flow. There are many ways you can advertise your business or brand. There are four primary options for getting your brand out in front of consumers.
Non-Fungible Token
While it sounds strange, NFTs are virtual tokens that can apply to trading or purchasing transactions in a virtual world. Just about anything is available if you have enough resources. The American rock band Kings of Leon released their latest album in the form of an NFT. Wildly popular, the band has generated more than two million from the NFT sales. It doesn’t matter how big or small your product is. You can convert it into an NFT.
Virtual Billboards
You are familiar with the traditional billboard advertising channel, and in the metaverse, it has a similar effect. Virtual billboards exist on video gaming platforms or Twitch, but there will be plenty of additional options as virtual real estate opportunities open up. Some significant players build metaverses, like Microsoft, Google, Apple, and Meta. Though these platforms aren’t fully developed, they may drive digital marketing growth through this channel.
Branded Virtual Worlds
Several video games include virtual environments that are incredibly life-like and built around existing brands. For example, the popular game Roblox has a winter-themed Ralph Lauren mountain; you can also find Netflix-based games. Roblox users have access to virtual content from brand ambassadors, and when virtual transactions occur, there are often in-game rewards. Since launching its virtual platform, Absolut.Land, Absolut Vodka allows users to use NFTs to buy virtual fashion accessories or attend a virtual music festival.
How Does the Metaverse Affect Marketing?
In the essential marketing sense, the metaverse will ultimately redefine how to create a brand experience. It will be immersive and immediate, with far more excitement and engagement than what typically occurs in the digital advertising in place today. It will also change how marketing strategies come about. Likewise, there will be a huge need to find accurate metrics to study the impact of advertising in the metaverse.
Though it may be some time down the road, it’s time to prepare for the metaverse. The future of digital marketing is bright with possibilities.
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