Metaverse in Marketing || What is the Metaverse?

Metaverse marketing is the act of marketing a business's services/products through the metaverse. The concept of the Metaverse imaginary world was first introduced by a writer named Neal Stephenson in the 1992 fantasy novel Snow Crash. Recently, the concept of "metaverse" is often used by many people.

Metaverse is a virtual world. It is a virtual form of the world we live in now in 3D format. Metaverse is understood as a graphically rich virtual space, to some extent true, where people can work, play, shop, socialize, in short, do what people want to do together in real life.

For example, imagine that while you were studying in Germany, you and a friend often sat and drank tea at your favorite cafe. But you have already returned to Azerbaijan and your friend lives in Germany. Because of the distance, you cannot sit and chat with your friend in that cafe in the real world, but you will be able to sit and chat with your friend in that cafe through the metaverse. That is, your avatars, in other words, your 3D digital characters will be able to do this. And for this, three elements - the VR interface, digital ownership and avatars - stand out in the metaverse. VR interface - that is, to connect to the virtual world, we need a suitable device.
By digital ownership, we virtually own or pay for any place, object, etc. Avatars are characters that represent us in the virtual world in 3D.

It can be noted that online gaming platforms such as Fortnite, Minecraft and Roblox already have metaverse features.
Meta, the tech giant formerly known as Facebook, has made significant investments in virtual reality, including the acquisition of Oculus in 2014, and believes that the metaverse will grow rapidly in the near future. The US Army is currently working with Microsoft on a virtual reality Hololens 2 headset for soldiers to train and fight. In addition, Xbox Live already connects millions of virtual video game players around the world.

Roblox is a platform founded in 2004 where users can build, work and play. Roblox is currently valued at over $45 billion.
Minecraft - another virtual universe loved by children, owned by Microsoft, is actually the digital equivalent of Legos. Here, players can create their digital characters and build anything they want. As of August last year, Minecraft had over 140 million monthly active users.

Of course, the formation of the metaverse cannot remain unaffected by the marketing strategies of companies. Because such great innovations also affect people's behavior. So, if there is a place where people spend time, it is inevitable that suitable brands will introduce themselves there. For example, in a live game in the metaverse, companies can place their ads.

In October 2021, Hyundai Motor Company launched Mobility Adventure, a metaverse area featuring Hyundai Motors' products and future solutions on the Roblox gaming platform. The collectively shared virtual space allows users to explore Hyundai's offerings, experience and customize their avatars.

Recently, Walmart, one of the largest store chains in the world, has actively started using the metaverse in its business. So, your avatar walks through a Walmart store in 3D, puts the products he wants in his cart and orders, and then Walmart physically delivers the products to the destination.

In conclusion, it can be emphasized that although mostly global companies are still doing some advertising in virtual reality, it can be assumed that this trend will expand further in the future with the growth of the "metavers

#marketing #metaverseinmarketing

[Pixiebolt]

really enjoyed this infographic and the useful examples for better understanding, like the ones about Avatars and how to relate them to real life situations. Keep the good work 💪🏼