"Teleporting around the metaverse is going to be like clicking a link on the internet. To unlock the potential of the metaverse, there needs to be interoperability, and digital goods must be available for purchase and portable. When you buy something or create something, your items will be useful in a lot of contexts, and you're not going to be locked into one world or platform," claims Mark Zuckerberg.
Zuckerberg is aggressively pursuing this vision of the metaverse. Although it remains to be seen, we may soon see avatars, the money you have in your metaverse wallets, and items crossing from one platform to another. Because of the metaverse's decentralized nature, those who build first will shape the future of virtual business. You'll be left far behind if you wait for your competitors to make Zuckerberg's vision come true. Instead, seize the opportunity to connect internet commerce with your brand in the metaverse today.
The Future of Shopping
Whereas Gucci and Nike dominated the early metaverse, small to medium consumer brands now have the opportunities to shine. Decentaland's Fashion Week 2022, one of the most extensive trade events to happen in the metaverse, included names like Etro, Tommy Hilfiger, Perry Ellis, Dolce & Gabbana, Estée Lauder and 57 smaller houses and independent fashion designers. Like the internet before it, the metaverse levels the playing field. A small name with marketing savvy can make a big splash!
Because the metaverse is experiential, you must create emotional involvement in your worlds to keep players engaged. Copy and graphics appeal more to the rational mind. Success in the metaverse requires a shift to immersive experiences that make consumers feel. Therefore an in-depth understanding of your brand and a laser-targeted focus is essential. Music, conversation, awe, personal style, and other aspects of identity combine in unique ways to reinforce the culture surrounding your products and services.
With the current limitations of crossover purchases and advertising in the metaverse, our challenge is to develop creative ways to connect and sell. Ideally, picking up an item or touching an advertisement in the metaverse will trigger a call to action. However, this isn't close to being realized yet. While we wait for a gateway from inside the metaverse to outside order processing, we, as marketers, must devise creative ways to bridge the gap. The solution comes from a mix of events, NFTs, and in-game assets.
The Future of NFTs
For many companies adopting the metaverse, NFTs are the interim solution. The rise of NFTs means brands can create digital merchandise for consumers to purchase. These digital assets can include a code or coupon that allows the owner to redeem a physical item. NFTs are often attached to exclusive communities and access to members-only games and worlds.
So far, no 3D virtual reality platform has coins, land, or items available to purchase on the blockchain. However, Bored Ape's Otherside is close. The key to a successful NFT project and drop is story and narrative. In the NFT world, hype is your friend. You must immerse potential customers in a fantasy in which the characters and worlds you create have real emotional value. Owners of your NFTs become fanatically loyal to your brand.
The Future of Events and Experiences
Events are Sliice's recommended way to communicate your brand identity to consumers. The metaverse allows a multitude of users to come together for a single experience. The bar to entry is far lower than an NFT project or designing your company's own metaverse. Instead, you hold events in worlds on platforms like Horizon Worlds, Decentraland, Sandbox, or AltSpace VR. You can even use public worlds or rent space from creators. Concerts, games, parties, business mixers, and gatherings are the most popular way to spend time in the metaverse.
Remember, one of the main conditions of the metaverse is that it's social. Worlds, products, NFT projects, books, films–if something can be premiered, launched, or dropped in the real world, it can be released virtually. Remote experiences are the new normal but don't make the mistake of believing that metaverse events are easier to execute than IRL equivalents. Virtual events require guest lists, promotion, scheduling, ambiance, activities, entertainment, coding, testing, and professionals to manage all these tasks. You need a detailed plan.
The Future of Ads
Prime advertising spaces like billboards, signages, bus posters, wall posters, murals, and road banners can be created in your own metaverse worlds or leased from other creators. Soon, you should be able to precisely target and broadcast your ads to displays across metaverse platforms. The only difference is this placement is 10x more powerful!
The Future of Product Placement
Like advertising displays, you can create digital versions of your products and place them in metaverse environments. Items can be picked up and manipulated, clothing can be worn, and locations can be visited. Locate a world that aligns with your brand and in which you'd like to see your product, and contact the creator to see if they are willing to place your product for a price.
The Future of Influencer Marketing
Get Paris Hilton to DJ in your world, or buy one of your NFTs, and you've hit publicity gold. Influencer marketing has made the jump from Instagram to the metaverse. Celebrity endorsements have done more for the spread of the metaverse economy than any other factor. It's easier than you think to get celebrity endorsements. Cultivate connection through your network, and simply reach out.
Our motto is, First to Market, First to Succeed. The metaverse is evolving from a curiosity to an essential part of people’s lives. Your business can’t afford to ignore this global and technological shift. It’s an exciting time to be involved. Subscribe to SliiceXR to take advantage of these new opportunities and learn everything you need to know to take your brand to the next level of marketing.