With the advancement of technology, terms like the metaverse are transforming from science fiction to science fact. Big tech companies have surpassed the point of just dipping their toes into the metaverse; they are investing greatly in this digital universe so much so that Facebook even rebranded itself to “Meta” with the aim to “bring the metaverse to life.”
But what exactly is the metaverse, and what will marketing in it look like?
For starters, the metaverse is a three-dimensional virtual world that is both immersive and interactive. What this means is that although you may be sitting behind a screen, it will feel like you are actually there. Shared with other users, the metaverse spans various digital platforms, offering a space where real-life experiences come to life. People can shop, work, watch concerts, and hang out with friends in this all-inclusive world.
- The metaverse exists consistently in real-time
- The metaverse never ends and continues indefinitely
- The metaverse enables people to have a virtual identity, presence, and individual agency
- The metaverse allows users to own, create, invest and sell in a fully functional universe
- The metaverse spans both physical and virtual worlds
- The metaverse allows contributors to create content and experiences
- Travis Scott and Fortnite:
In avatar form, rapper Travis Scott gave an 8-minute performance on Fortnite where over 12 million players experienced the event live (compared to a regular concert crowd of 50,000).
- Shopify AR:
Shopify added an AR feature that allows users to create 3D models of products they are interested in. They can then try on these products (if we’re talking about clothes) or virtually place their products in real-world spaces (if we’re talking about furniture) using AR.
- Instagram Digital Collectibles:
Instagram has introduced digital collectibles as a means for businesses to merchandise NFT collections.
In another collaboration with Fortnite, Balenciaga launched NFT wearables that players can buy for their characters and wear throughout the game.