Advertising on the Metaverse—What Should We Know?
Advertising on the metaverse is the greatest achievement of ad technology, providing consumers with an immersive virtual shopping experience. Every brand creates content that users will be interested in and the best plan is to enter it into the world of the metaverse—if not already. Whether newcomers to the virtual consumer world like Walmart or existing customers like Coca-Cola, brands can quickly rise to the occasion of advertising in the digital world. Metaverse advertising is becoming a new channel on the block, as an agency we can bring in clients who are on a trial budget.
Agency can advise clients on metaverse ads now:
NFT stands for non-fungible token. NFT is a unique virtual token that is used in buying or trading in the virtual world. Anything can be NFT, from artwork to tweets. At NBA Top Shot, someone purchased a video clip of Lebron James fielding a basketball for $208,000 via a virtual auction system. Kings of Leon released its newest album for sale as NFT last year on the ticketing platform NFT.
Branded Virtual Worlds
Video game company Roblox contains life-like virtual environments built by brands such as the Van skatepark and winter-themed Ralph Lauren mountain. Netflix-based games are also found on the Roblox platform. Brand ambassadors share virtual content with Roblox users. Several companies have launched Absolut.Land, where people can use NFT to buy virtual fashion accessories and teleport virtually to music festivals. If someone tweets a selfie from Absolut.Land, they will be airdropped as a wearable.
Virtual billboards are just that—outdoor advertising in a virtual world. They can be found on platforms like Twitch or on video game platforms including Fortnite. As virtual real estate grows, the space for virtual billboards increases.
Meta, Apple, Google, and Microsoft are building a metaverse where advertising becomes a full experience. Most analysts predict that metaverse advertising will not become a new channel in our digital advertising life until 2023. With existing budgets or partnerships for creative development, the future state of advertising in the metaverse could look like this for clients.
Virtual goods are sold by designers in social media-based virtual worlds and social media companies take a percentage of the profits. Meta recently opened the beta version of Horizon Worlds. Other social media platforms are developing similar virtual store offerings.
As the term metaverse continues to gain traction, interest in metaverse advertising is growing exponentially. The Metaverse signifies a move beyond traditional advertising towards creating brand experiences that are more engaging and engaging and less invasive than what we experience with digital advertising today. So, the agency must be able to follow developments.