Advertising in the metaverse

Advertising in the metaverse

Metaverse is a term that has been gaining popularity among technology industries since 2020. It is a three-dimensional virtual world inhabited by avatars of real people. In 2021, the term was recognized as one of the most recognized technology terms. This can be seen through Google Trends, which clearly shows that the term metaverse has been searched for very frequently since the beginning of 2021. Since Roblox went public and then when Nivida CEO Jensen Huang announced in April that the company’s next step would be to create a metaverse. In addition, when Mark Zuckerberg owner of Facebook announced that the company’s name would be changed to Meta, which also has to do with the new logo, which is the infinity sign. Metaversum is no novelty or fantasy of technology companies. We are only now realizing that it is possible to clearly predict what the metaverse, considered as Web 3.0, will be in the future. Currently, we may not be able to see that the metaverse is and is just evolving. 

 

Metaverse in advertising

 

The metaverse in advertising can be defined as a permanent, three-dimensional virtual space, in which the main role is created by users spending time in the virtual world. In addition, it will be simultaneously reached by brand-related content and tactics that influence the purchase decision-making process aimed at making a purchase. Currently, social media can be compared to a metaversum, as it is to it that users log in, engage with their friends and relatives, and on this path they meet brands that use advertising, sponsored content, etc. Already, through social media, we can pay for products online and have them delivered to our address. 

 

Metaverse, too, would have 3D stores where one could see and also try out products and purchase online with home delivery. Metaverse will likely combine all kinds of technologies, such as augmented reality (AR), virtual reality (VR), mixed reality (MR), video games and 3D avatars. It may take a few years, however, it could already see aspects in online game universes such as Fortnite, Roblox or Minecraft.

 

The goal of the metaverse is to provide users with access to experience real world activities in a virtual environment through:

 

  • Social interaction – in the metaverse this is much easier, you can communicate with your relatives or friends not only through video calls, but also by organizing online events and celebrations e.g. weddings, birthdays, concerts without geographical restrictions.
  • Store – users can be tempted to purchase virtual as well as physical products. In addition to the mere visualization of a given good, they may be tempted to try it on and test it, all through a VR device. 
  • Business – the metaverse wants to go a step further and, in addition to remote execution of work using applications such as Zoom or Google Meet, wants to enrich such meetings with naturalness and more real interaction.
  • Entertainment – the metaverse’s main goal for entertainment is to increase the level of involvement of the online gaming community. Organizing music, sports events without limits on the number of participants. Traveling without leaving home, moving around different countries without taking a vacation. Such solutions offer great opportunities for the advertising industry.

 

Advertising opportunities in the metaverse

 

Since the explosion of video exposure on social media platforms such as Facebook and YouTube, brands are constantly investing and looking for innovative formats to stand out from the crowd and grab the attention of the viewer. Metaverse wants to move away from traditional solutions to focus on creating brand experiences. Which results in greater engagement, appeal and less intrusiveness that we are now able to see in digital advertising. Metaverse seeks to blur the line between physical and virtual reality and change the perception of the world. Metaverse activities in advertising are key priorities for companies looking for new solutions to use this to their advantage. Although metaverse advertising is only in its infancy and early stages of development, larger brands have noticed its great potential. Metaverse is betting on access to premium customers who like novelty, additionally taking advantage of current VR, AR and MR technologies as well as artificial intelligence.

 

Any ad in the metaverse universe can attract far more people than any other advertising space. Now the ads we see on Google or other search engines use words that support graphics, but with changes in the industry, these graphics will soon become three-dimensional. In addition, VR, AR and MR are dominant methods and require even more creative work. Because the metaverse offers advertisers a whole new way to reach audiences. Brands need to start thinking about how the metaverse can actively participate in creating a new reality that gives them more freedom to advertise and sell their products. Although the metaverse is still in its infancy, it is connected to many existing platforms that play an important role for successful advertising opportunists. The metaverse is full of innovative marketing opportunities, from direct shopping to virtual stores, fashion shows, product launches, content creation, major events and NFT events, paving the way for the real economy in this hybrid physical-digital world.

 

Summary

 

Metaversum is the future of marketing. Many Polish marketers believe that the metaverse will be the next platform for communicating with customers. This is also based on results of a marketing survey by Shortlist Consulting. Nearly a third of marketers believe that the presence of brands in the metaverse will become the norm in the coming years. That’s why it’s already a good idea to follow how it’s developing and prepare for a better tomorrow, in order to continue to surprise and reach your current as well as potential customers .

 

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