Why Metaverse Is The Key For AR/VR And NFT-savvy Brands And Marketers
Back in the 1970s people had no idea just how immersive the internet would be. In fact, back in 1996, Robert Metcalfe (inventor of Ethernet) predicted the internet would soon die.
We can look back on these predictions now and laugh at how wrong they were. But, did you know that metaverse is the next big technological innovation?
Metaverse for brands across the world is a game-changer. But, what is this new system? How can you capitalize on it? That’s what we are going to share with you today!
What is the Metaverse?
The metaverse gained a lot of public awareness this year with Facebook announcing they were joining the platform. Facebook CEO and founder, Mark Zuckerburg, announced the company will change its name to “Meta” starting 2021.
What does this mean to those of us seeking to expand our companies into this exciting technological advancement? But, before going there, what exactly is the metaverse?
The metaverse is a word very much like “deep web” and “internet”. A term that is used a lot yet is often not understood at its core level. At its most basic definition, the metaverse is the internet.
What metaverse refers to is how we use and interact with this new online system. The best way to understand this system is to view it through a historical lens.
Back when the internet was first invented, we had internet 1.0 which indicated a system of information. Users similarly interacted with this system to how they interacted with a library full of books. It was a passive source of knowledge.
Over time, in the early 2000s, social media became the newest version of the internet. This system became known as internet 2.0. In this system, users could interact with other users on the website. Or, they could read an article and leave comments and thus not only consume knowledge.
Coming to today, we have the WEB 3.0. In this system, we now interact with the internet world itself. The internet 2.0 gave us interactions with one another online. WEB 3.0 allows us to interact with the world of the internet directly.
What does this new world mean for the world of business?
You Must Have Your Online Presence Updated
Back in the day, many businesses did not realize just how significant the internet would be. But, it was not long before businesses saw they could use the internet 1.0 to share information on their products.
When the internet 2.0 came about, businesses needed to create social media accounts to grow. According to online stats, businesses with an active online presence generate more revenue. They also have more brand name recognition and loyal clientele.
You need an active metaverse marketing strategy to succeed. For the metaverse, there are three areas you should know about to expand your business. These aspects include AR/VR and NFTs. What are these things? Let’s find out!
What Is AR?
AR is an acronym for augmented reality. Augmented reality is not entirely separate from the real world. Rather, augmented reality engages the user with the real world but with some added advancements.
Through augmented reality, you are shown the real world in front of you. But, through the augmented reality generation, you will see things that aren’t really there. If you see a tree in the real world, augmented reality will show you the tree with maybe some Gryphons sitting in it.
One of the most recent examples of augmented reality that took the world by storm was Pokemon Go. Pokemon Go used users’ cellphones as a means of conveying the world in a new way. It allowed users to interact with the world around them with Pokemon!
What Is VR?
VR is an acronym for virtual reality. This takes the world of augmented reality and makes it even more intense. Virtual reality is a totally fictitious world that the user is shown through an electronic device.
Unlike AR, VR is fully immersed in a virtual world. Animal Crossing video games are a great example of what virtual reality was back in the early 2000s. Animal Crossing allows the user to purchase a home and work for the money of the animal world (bells).
This world also offers its own stock market that is rather humorously based on the sale of turnips. But, all of these aspects are important to understanding how virtual realities are realities all on their own.
In these virtual environments, people can now physically interact with virtual images. They buy and sell within this world like in the real world.
Virtual and augmented realities are metaverse marketing and business opportunities that you do not want to miss.
What are NFTs?
Last on the list are NFTs. NFTs stands for “non-fungible tokens”. These tokens are usually images of some kind that are sold and traded online. They operate through a blockchain technology similar to cryptocurrencies.
In fact, these tokens are essentially the same thing as a cryptocurrency. They are created by the seller and then traded on the virtual market. To the creators, they believe this new system will become the new art collecting and trade system.
Sound crazy? Well, don’t be so fast to ignore this. The founder of Twitter literally sold his NFT recently for 3 million dollars.
Like with Bitcoin and other cryptos, these blockchain technologies are not investments you want to miss.
What Does the Metaverse Mean For Your Business?
It’s an exciting time for advertisers. While there are core values that could advise what kind
Metaverse for marketers means the digital marketing term has changed forever. For a while now people have excused metaverse epic games as merely entertainment for nerds. But, this virtual space is proving to be quite lucrative for those who know how to navigate it.
These virtual environments already have a heavy influence on the real world. Through the creation of an online presence immersed in the metaverse your business can expand its influence.
The famous brand Gucci already made a virtual brand of bags to be bought and sold in this universe. Your company can also create a metaverse company and take advantage of this virtual realm. These are just a few of the new digital marketing trends you should take advantage of!
Metaverse For Brands: Marketing Strategy For Your Business
Creating a metaverse or NFT marketing strategy may seem overwhelming. E-commerce has been an evolving system for decades now, and this is just another step along the way.
Do not let this seemingly unique Gen-X phenomenon let you fall behind. There are numerous business opportunities for all going forward including using the metaverse for brands and marketers. The key is to make your move soon. Also check our NFT marketing strategy guide as further reading.