metaverse

Even if you don’t know about the concept, I bet you’ve heard about the word metaverse. Ever since Facebook (now Meta) announced their goal to develop new technologies for the metaverse, the news has taken the world by storm.

But first of all, what is the metaverse? There are speculations about the importance of it and if it’s going to be as relevant as the news claims.

Metaverse refers to a virtual universe where users get together to interact with each other and the digital environment.

It’s actually nothing new, it has its roots in the gaming industry. That’s why we can find the largest metaverses in worlds like Roblox, Fortnite or The Sandbox. But the truth is that organizations are now preparing to become a part of it and advertising agencies, naturally, want to join the club as well.

The role of ad agencies in the metaverse

What can advertising agencies do in the metaverse? How should they behave? Here are some aspects to take into consideration:

Take your time to learn about the subject matter

We’ve just started to become familiar with the metaverse so there’s still a lot that we don’t know about. This is the main challenge advertising agencies have to deal with.

There are still no rules set about how agencies should work in the metaverse. We are all learning along the way, so it’s important for agencies to be patient if they want to understand the concept.

Immersive experiences

As you know, young audiences spend more time online and brands are already taking advantage of that.

From virtual fashion shows and concerts to xR video games, the key of the metaverse is interactiveness and immersion. Advertisers can use it to create an immersive world where users can join and interact with its elements and, potentially, your brand.

New economy

The metaverse is a big opportunity of becoming a new revenue stream for advertisers. In fact, some brands have already launched campaigns virtually and have created strategic partnerships with popular metaverses.

As Mellissa Flowerdew-Clarke from Dept estates, “the metaverse already has its own economy, which will benefit individual creators within it, but we also expect to see new global companies to replace the incumbent digital giants.”

Partnerships between brands and virtual universes can definitely be a step in the right direction. It can be a way to boost the activity in these worlds, create value and attract new users.

metaverse

Use of NFTs

NFTs are digital assets that can be found in the metaverse and they allow users to own a particular digital space inside the world. This can become a crucial part of the strategy for brands.

Either brands can invest in a NFT as an ad space or, as Vogue Business indicates, you can use NFTs as a way of communicating with the user virtually. In some way or another, it can potentially become the main revenue model of the metaverse.

What is the metaverse?

Metaverse refers to a virtual universe where users get together to interact with each other and the digital environment.

What can advertising agencies do in the metaverse?

There are still no rules set about how agencies should work in the metaverse, but NFTs and immersive experiences will surely be something that agencies will explore.

How can marketers prepare before diving into the metaverse?

Since the metaverse is a relatively new thing, brands need to collect information and take their time to learn about the topic in order to understand its rules first.

What is an NFT?

NFT is short for Non-fungible token and it refers to a digital asset that can be commercialized online. They represent ownership of a unique asset in the digital space.