How will digital marketing change in the age of Web 3.0 and Metaverse? Here’s what to expect
Many statistics predict that within the next ten years, The metaverse will have 1 billion users Worldwide and the entire market has access to it $1 trillion in revenue. This will be such a huge opportunity for brands, marketers and advertisers, that today we are already predicting what it will be ADV metaverse scenarios.
Imagine and adapt digital advertising technology as it exists today into a scope world of virtual reality It’s very simple. Actually, it is Same programmatic principles And ad space on the metaverse will be sold to the highest bidder on an auction basis, just like Facebook ads, Google ADS, and other ADV platforms today. However, the Participation dynamics From users are completely different, and most likely, when the metaverse is a tool within everyone’s reach, there will be a race metaverse ADSwhich led to a metaphorical “gold rush”.
before talking about it Advertising in the metaverseHowever, let’s take a step back and see where we are today.
Metaverse keywords
The metaverse goes along with many keywords, even if it would be better to call them technologies, that would be embedded in this completely virtual parallel universe. In addition to NFTs, i.e. non-fungible tokens they enjoy wow In this last period, it will be other keywords Virtual RealityAnd the Digital currencies And the blockchain. In fact, these are technologies closely related to each other, so much so that the blockchain in particular is the basis for cryptocurrencies and non-fungible tokens.
But what is a blockchain?
According to Wikipedia, a blockchain is “a shared and immutable data structure: a digital ledger whose entries are grouped into blocks, sequenced in chronological order, and whose integrity is ensured through the use of cryptography.” Simply put, it’s a file Decentralized and headless database Where users can only add or read data, but not modify or delete it.
The first blockchain was introduced in 2008 with the aim of recording the transactions of the then nascent Bitcoins. Many have come a long way in recent years, so much so that today blockchain can be defined as the starting technology for development New foundations for the global economy and social systems. It is in this context, therefore, that Web 3.0 and the metaverse are included.
What we know today about Metaverse
It is certainly not new to shorten the distance between the online world and the offline world to a large extent, to the extent that in recent years the Internet has “forcefully” entered the lives of all of us and The digital world has now become an integral part of everyday life. Every day we talk with friends on WhatsApp, make video calls, check Facebook, Instagram, TikTok and other social media, use emails, shop on Amazon and much more.
The metaverse, contextualized within Web 3.0, can be seen as an evolution of social media and, as such, will further shorten the distance between the real world and the virtual world.
To date, there are already platforms to rely on blockchain technology And what do they offer Metaverse experiences. Among these we find, above all, sand And the Decent Where many companies are already investing and buying Earthor private land for the purpose of construction default properties for commercial use and more.
At the time of writing, they have already invested in Decenterland with billboards for brands such as Tommy Hilfiger, Dolce & Gabbana and ChanelWhile Samsung She created a replica of her New York store where she offers a variety of immersive experiences. But on the occasion of Coachella, Absolute vodka He also created an installation on Decenterland, a platform on which it is based Metaverse Fashion Week March 24th to 27th. Sandbox also has several major angel investors under its belt. These include Atari, The Smurfs, Snoop Dogg, and Adidas.
Meta also fits into this context, with its Oculus-based metaverse project, to which announced projects are tethered in a tangible way, for example, NFTs on Instagram and Zuck Buck.
Metaverse Marketing Opportunities
through monitoring metaverse from a marketing point of view And advertising opportunities, we can imagine a virtual space in which users spend their free time and in which they can view content related to specific brands in which they have shown interest. The closest analogy today would be social media, which users log into to interact with friends, groups, and meet Sponsored Content And the calls for conversion.
Over the years, social media itself has evolved with Store functionthrough which each customer can make direct online purchases without going through the company’s website (at least in the United States) and based on this principle, even in the metaverse there will be virtual stores where it will be possible to view adsAnd the Try the products And the Make purchasing decisions.
Metaverse ADV: How the advertising market can change
About the fact that the metaverse will lead to New possibilities for brands and advertisers no doubt. At the time of this writing, for example, the Vienna Tourist Board has launched a special programme Online contest in Decenterland: All those who want to have a conversation with Dr. Freud in the metaverse can fill out an online form to win a trip to the city. An interesting marketing strategy that makes us understand what could be the future implications of Metaverse.
focus on ADV MetaverseInstead, there are two ways to look at advertising opportunities. First of all, ADV metaverses can be an additional channel for making advertising investments, in addition to the more popular digital ones (such as Facebook, Instagram, Google, Tiktok, etc.). Indeed, even in the metaverse it would be possible to track traffic and investment smartly, no doubt about it.
Secondly, with the metaverse ADV it will be possible to explore it New ways of telling stories Make users live Engaging advertising experiences Helpful in telling the brand story.
We are certainly not talking about a new concept. With the gradual adoption of VR viewership, many brands have invested in cutting-edge 360-degree videos for specific ad campaigns, one example being Gucci’s pre-fall 2017 campaign, in which audiences were invited to participate in choreography.
And even earlier, in 2012, Barack Obama used gods Virtual billboards In the Xbox 360 live version of Need for Speed Carbon.
Certainly with metaverse ADV the B2C world will be able to explore new business opportunities, but it’s good to remember that Metaverse is still full of pitfalls. At the moment, blockchain technology is certainly promising for the development of Web 3.0 platforms and new virtual worlds, but it is Controversial Due to doubts aboutclimate effect and on Possibly illegal use.
The advice to all those wishing to enter this new world is to wait a moment to understand the real developments in the near future, so as not to lose their reputation if something goes wrong.
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Summary
Article title
Metaverse ADV: Marketing in the metaverse
a description
The metaverse is indeed here and this has been proven by several companies already invested in the virtual worlds Decenterland and The Sandbox, but there are still no guarantees on the ADV metaverse. All possible scenarios in our guide.
author
Valentina Baldon
publisher
Livia
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