If you’re bored of traditional advertising and looking for a new way the reach an audience, Metaverse is here to help.
Quick Summary: What Is the Metaverse?
Take for example the blockchain powering Upland. A player's identity is verified through their Ethereum address, and from there they can create, buy and sell property on the platform. The best part is-- this process is automatic and enabled by smart contracts. Property rights work the same way: you own an asset by owning the blockchain key which generated it.
Metaverse is a non-fungible token (NFT) built on the blockchain and tracked on its own public ledger. Unlike cryptocurrencies, where generic tokens are traded, each NFT is unique, meaning that every single one can be tracked and verified on the blockchain.
The Metaverse is a decentralized network of virtual universes, and that means it's made up of a bunch of smaller networks. It encompasses these individual networks, each with its own rules on things like registration, accounts, and transactions.
The metaverse, a term first introduced in Neal Stephenson’s 1992 novel Snow Crash, is a fully immersive, shared virtual space where people can communicate and conduct business using avatars. It was established that the metaverse would become a platform as important as Facebook or Google+, so Branding 2022 partnered with Metaverse to create its initial token, ETP.
In 2019, users of the popular metaverse game Roblox cleared $110 million from such activity. Our team saw a huge opportunity in not only capitalizing on the success of these games but booming in a whole new way.
“Metaverse” is a term you might have come across from the Blockchain and crypto world. It's not used as much anymore and refers to a theoretical parallel reality (virtual world) where people go online (metaphorically speaking) and meet with friends, can buy goods, play virtual games, and much more.
Three Ways Brands Can Leverage the Metaverse
A new form of branding has emerged. A branding that is so unique and powerful virtually eliminates the need for advertising. That’s right, I’m talking about the Metaverse, a VR experience that will revolutionize marketing forever.
The Metaverse is the future of human-computer interaction. It is a virtual environment that is made when our physical world and the digital world merge to create a 3D experience, where people can communicate with each other as if they were physically together in the same space.
In a couple of years, brands will run content marketing campaigns in virtual reality. Virtual reality ads are different from normal video ads. They are much more immersive and engaging. Marketers can now reach the younger segment of consumers, who prefer to watch video ads on a mobile device.
Branding is leaving behind traditional forms and becoming more immersive every day. The Metaverse will be giving birth to brand experiences that engage users like never before. Join me as I explore the ways in which brands will interact with consumers, from events to giveaways.
In our latest report, we look at how digital and physical worlds will increasingly converge. We examine what this means for brands and consumers, highlighting how brands can use the metaverse to engage with existing consumers in new and interesting ways. Click here to read the full report.
Monetizing digital assets has become a huge business. In just the past two years, it was reported that virtual goods sales grew from $0.6 billion in 2010 to $2.3 billion in 2012 and jumped to $3.3 billion in 2013. The trend is expected to continue its upward trajectory as more and more brands see the benefits of forming meaningful relationships with customers, who are becoming increasingly accustomed to the utility and convenience of online shopping and social media engagement.
In the decentralized metaverse, NFTs in the form of skins and virtual goods will be the norm. This is what drives and fuels the decentralized metaverse economy.