The term “metaverse” is quickly gaining popularity in the IT and business worlds. Metaverse is fundamentally a visual interface that allows us to see, feel, believe, and do things we couldn’t see, feel, believe, or do previously with our eyes, ears, and brain. Virtual Worlds, AR, VR, NFTs, and blockchain seem to be encapsulated within Metaverse.
What is the size of the metaverse opportunity?
Metaverse isn’t simply a technological advancement; it’s a total transformation of how the Internet operates and how people perceive it. While Web2.0 was all about connecting people, metaverses are all about getting people to be with each other. In India, for example, we had a metaverse wedding. The idea was simple: people are already used to sharing live streams of events, so why not make it easier?
Facebook’s Horizon Worlds is creating the metaverse; Apple is currently working on an advanced virtual reality gathering; Google is said to be working on innovative augmented reality devices; Microsoft is also working on a Mixed Reality Productivity tool called Mesh that will integrate virtual experience directly into the Microsoft Business Stack; and Disney has a Disney theme metaverse. South Korea has also established Gen MZ, a metaverse; Barbados is planning to open a Metaverse embassy; and Santa Monica, Canada, has teamed with a metaverse firm to build a digital world of Santa Monica. For me, the start-up scene for all kinds of head-worn technologies is also really intriguing. It’s an exciting place to be when there’s a smorgasbord of upstarts and industry heavyweights slugging it out to develop the next big thing in tech.
Through our inventive technology partners, we have been adding means to interact with people for years. From print to radio to television, the Internet (digital) to Voice, and now the Metaverse, there has been a transition.
The most significant part is Metaverse For Good, and the reason I find “Metaverse for Good” so theoretically vital is that this “for good” purpose should apply to all stakeholders, resulting in many possibilities.
Marketers must adhere to the structure of the ‘Metaverse For Good.’
• Creating incentives for greater social behavior
• Protecting the privacy and security of consumers
• Incorporation of diversity and inclusion
• Maintaining brand integrity and copyright
• Towards crypto’s long-term viability
• The digital gap is narrowing
Our brain has evolved over millions of years. It is unlikely to alter in the next years. As we strive to manage the shifting digital ecosystem, we may concentrate on this unchangeable part of mankind once we realize this reality.
Case Studies
1. In today’s world, when customers are both cultural makers and replicators, it’s vital to create symbols that consumers can use, remix, and expand upon – “Cadbury: Secret Love Notes & A Date on the Moon.”
This Valentine’s Day, Dairy Milk Silk advertising were utilized to transmit love messages that could only be seen on a mobile device, creating a hidden world where your secret love could send you a secret letter. One fortunate couple was given to a virtual date on the metaverse’s virtual moon as part of the promotion.
2. Be where your customers’ attention is concentrating. Matrimony.com, for example, was present for the first Indian wedding in the metaverse.
3. A brand that tries out new concepts shows that it is intellectually inquisitive to the rest of the world. At India’s first metaverse wedding, Coca-Cola and ITC developed unique experiences. These businesses created virtual storefronts inside the platform where any visitor could visit and purchase an item of their choosing. As a thank you, the visitors were given discounts and gift cards. Coca-Sip Cola’s A Coke, Shake A Leg With Daljeet theme was brought to life during India’s first metaverse wedding, making it one of the finest brand integrations in India on the metaverse.
4. Metaverse may serve as a safe haven for new users to launch their hopes and goals into the actual world. With WPP’s First NFT forest, workers were able to have new sorts of experiences! – They planned a present to introduce their staff to the world of Web 3.0, as well as New Year’s greetings. Many of them entered the Web 3.0 world as a result of this, pleased to have purchased NFT for the first time. They had a fresh new and great experience with this particular present initiative, where they were able to express the spirit of WPP and the enthusiasm of the new year.
