Web3.0 is the future of the Internet and is constantly evolving. Part of the new web is Metaverse, a virtual reality based on blockchain technology. There, the real and the virtual world merge. The marketing of products must be adapted.
The virtual world offers a new space and new opportunities to market your business. Some companies now want to adopt this marketing strategy because after social media and influencer marketing they finally want something new. How exactly can you imagine marketing in Metaverset? What are the benefits? And how can marketing develop in the future?
Last fall, Facebook was renamed Meta Platforms. Founder Mark Zuckerberg envisioned Metaverse as a parallel world. Since then, the development of the new world has been in full swing. According to staff, Zuckerberg is hardly interested in anything else. In 2021 alone, he invested ten billion US dollars in transforming his company into a metaverse. Also in the future, he intends to invest a lot of money in further development. Extensive AR projects are currently underway. The future will show exactly what the result will be. The first high-end AR glasses are scheduled to hit the market in 2024.
Metaverse is part of Web3.0, which represents a new generation of the Internet. It takes place on a blockchain and is therefore decentralized. The metaverse is a virtual reality associated with the physical world. There you can not only see content, but also experience it properly, because life there takes place in three dimensions. With an avatar that you can create, you have the ability to do what you would do in the real world. So you can go to work there and then meet up with friends in a bar or play sports. So it is self-explanatory that several people can be active and interact with each other in the metaverse at the same time.
Due to the fusion of the real and the virtual reality, the metaverse is also referred to as a mixed reality. People have the opportunity to participate in shaping the virtual world by performing activities there. Access to the new world is achieved through AR and VR technology, for example via virtual reality glasses or via smartphones, game consoles or computers.
How to market in Metaverse
In theory, you can market your business using all the traditional methods, just like in the real world. For example, by distributing flyers, starting a campaign or through advertising. In any case, the content should be creative and stand out from the rest because it is the only way to attract the attention of other users.
Another advantage of the virtual world is that you can also offer your products there. Using VR technology, users can not only look at the products but also try them out and buy them there. As a company, you also have the opportunity to communicate with your customers and partners in real time. In this way, the company can, for example, be informed about points of criticism. Companies can then use this critique to improve their offerings and products.
New customers, reach and customer satisfaction
Marketing in Metaverse initially promises greater reach. One can reach people who usually have no interest in that industry. Eye-catching advertisements or campaigns can also attract the attention of these people. In addition, the opportunity for new collaborations and partnerships has been expanded. With the help of the criticism that can be put forward, offers can be improved and customer satisfaction guaranteed. Finally, more money can be generated by using the metaverse.
The gaming world has already in recent years shown that people spend a lot of money on virtual objects. The well-known game Fortnite, for example, brought in several billion dollars with its sales in the game. So the ability to offer your products in virtual reality inevitably promises higher revenue. These can be strengthened when companies accept criticism and improve their products.
Example: Philipp Plein
A few months ago, renowned fashion designer Philipp Plein bought a property on the Metaverse platform Decentraland. And he paid a lot for it: $ 1.4 million for over 16,000 square feet. He will be one of the first to try out the marketing strategies there. There is already an NFT museum on the property, which displays works by renowned NFT artists. And in March, there was already an auction of Plein’s new NFT collection. The fashion designer is also planning to build a stadium. Their sports brand Plein Sports must be marketed there. The so-called Plein Plaza is already advertising and attracting a lot of attention.
Other luxury brands like Gucci or Adidas also found their way to Web 3.0 and market their products in the game’s virtual world The Sandbox.
Metaverse offers a great new way to market your business. In virtual reality, you can place ads and thus attract people’s attention. It is also possible to offer and sell your products there. Recent history has shown that people are willing to invest big money in digital assets. Marketing in Web3.0 allows for greater reach, a larger customer base, customer satisfaction and more revenue. Entrepreneurs should think about appropriate marketing strategies because living in Metaverset will be a big part of the future.