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Marketing in 2022-Are Brands Planning Their Foray Into Metaverse
Marketing in 2022-Are Brands Planning Their Foray Into Metaverse
by Deepti Karthik
Published - 7 hours ago Updated- Jan 3, 2022 4:57 PM
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If you have seen Netflix's anthology Unpaused (Glitch), the short story of
dating in the metaverse is the most realistic visual representation of how
our future could look like in this new universe. It also made us realize that
metaverse might not be as much in the distant future rather it’s definitely
something brands will need to bring in their planning cycle in 2022.
Digital Reality led by gaming has been a part of our lives in the last
decade, the winner of the DOTA 2021 tournament won $18.2mn–to put this
in perspective the winner of US open will get $2.5mn, winners of Euro cup
2020 got $11.7 mn and this is just the beginning of a shift in sports as we
know it. E-sports sponsorship has already seen brands like Red Bull,
Mountain Dew, Intel, DHL , TIK TOK making their presence felt and this pool
is set to get larger in 2022.
The core audience of the game is of the age group 9-15 and they might be
the first generation to value virtual products more than physical ones as
they try to express themselves in the metaverse. NFT (Non-fungible
Tokens) Platforms that sell digital objects backed by blockchain to certify
authenticity selling personalized skins/costumes are booming and there
are companies like Decentraland trying to take a Phygital approach by
building NFTs with redeemable vouchers which can also be exchanged for
real-world items.
Brand Play
As a brand one will have to look beyond ads, at truly amplifying the
experience instead of disrupting it. Organizations will have to work with
Gen A to cocreate shared spaces to ensure participation and loyalty.
Mapping the metaverse will come with first accepting that this will be as
integral to Gen Z and Gen A as smartphones for millennials or TV for baby
boomers. Whether it's Animal Crossing or Topia, eventually brands will
have a role to play in building “Shared Experiences”. It’s a virgin territory
that boasts of the low customer acquisition cost, brands will have to
extend what their products offer in real-world to offer it in metaverse.
From co-developing new products to taking feedback on prototypes to
selling limited edition collectibles brands will have to gear up to create a
personalized consumer experience for the customers of tomorrow.
Disclaimer: The views expressed here are solely those of the author and do
not in any way represent the views of exchange4media.com
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