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Why do brands need metaverses?

The Metaverse is a separate digital world that merges with the real and physical one. In 2021, projects in this area mainly relate to the Social VR category - safe and “hassle-free” social networks within the framework of virtual and augmented reality (VR and AR) technology. And now it's also a new way to sell and buy goods: imagine that in addition to viewing clothes and equipment, you can try on and purchase it without leaving the online space… People buy virtual outfits for their avatar, as well as goods that will be delivered by courier to their homes.

Why brands are eager to explore the metaverse

The uniqueness of all metaverses lies in the fact that they combine the functions of social networks and computer games. These projects are built on the blockchain. The technology allows you to tokenize land, property and voting rights. In the metaverses, users own digital assets and can influence the future of the project. After Zuckerberg's statement, interest in the topic has grown greatly, the rates of domestic cryptocurrencies have risen from 4 to 10 times. Creators can earn through the sale of land and commissions for the placement of assets. Agencies mainly take money for the construction of buildings, renting sites, hosting events and designing clothes.

The Metaverse is a reality, not a future. Hundreds of thousands of people are already using what Mark Zuckerberg is about to create. While the world is buzzing about the emergence of the Metaverse, brands are actively exploring the possibilities of digital channels, as the pandemic has made adjustments and made the capture of market share in the Metaverse system more relevant than ever. So metaverses become new virtual worlds that are rapidly gaining the attention of brands and consumers. Alreadyy many brands have entered the metaverse and have begun to test the ground for the marketing of the future.

Virtual stores

The world's largest brands are mastering the metaverse en masse. Only in the last few months, Louis Vuitton, Gucci, Adidas, Nike have announced the creation of their own NFT collections.

Buyers pay for the purchased goods with cryptocurrency, and then resell the received digital assets on exchanges and auctions or use them for personal purposes, for example, as clothes for their digital avatar. World experts predict that by 2026, at least 25% of the Earth's population will spend at least one hour a day in the metaverses.

In 2021, the metaverse experienced a meteor strike, and judging by recent investments, it may go to the moon. While the outside world has set up barriers and closed borders, we have completely immersed ourselves in the digital space: approximately 2.6 billion people are now playing online games.

Major brands have made significant investments in the metaverse in 2021, indicating that the virtual realm will increasingly dominate our lives.

The growth of the metaverse industry is due to the growth of the crypto-economy. All clothes in them are sold for cryptocurrency, and many universes are decentralized. As the size of the metaverses increases, so does its popularity.

Which brands are rushing into the metaverse

Nike releases virtual sneakers for digital avatars. In the fall of 2021, Nike signed an agreement with the Roblox platform to create a complete Nikeland virtual world. It has numerous stadiums, sports fields and shops where users can buy branded clothes and shoes for their avatars.

Adidas enters the Sandbox universe. Adidas also promotes goods under its own brand in the digital world. To do this, he had to become a partner of the Sandbox gaming platform and the Coinbase crypto exchange. In the foreseeable future, the manufacturer expects to launch its adiVerse universe, within which it will launch branded NFT collections.

Louis Vuitton has launched a digital puzzle game. The user is invited to go on a journey through colorful locations, where he can learn about the history of a luxury luggage manufacturer and find a collectible NFT from the famous crypto artist Beeple.

Gucci celebrated its birthday in the metaverse. For this, a virtual exhibition "Gucci Garden" was opened on Roblox. Digital avatars of users will be able to stroll through the luxurious exhibition backdrops and explore the company's fashion collections, which were released over the years.

Procter & Gamble is engaged in eco-advocacy through the metaverses. The company has developed its own virtual world BeautySphere, through which it broadcasts the principles of inclusiveness and responsible beauty.

McDonald's has opened a virtual restaurant, and Domino's is already selling digital pizza on Decentraland for free, thanks to enthusiastic developers.

Samsung and Dyson have created branded home appliance stores in Decentraland.

Why do brands need metaverses? The answer is simple: the presence in the virtual world allows them to get a new audience and opens up great opportunities for additional profit. Collaboration with the metaverses gives brands the opportunity to attract attention and interest on additional audiences.

Don't know if the metaverse is for you? #30minToMetaverse is a FREE quick one-to-one call to understand what is the metaverse and how you and your brand can benefit from it: schedule a free call NOW.

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