Cros launches their ads platform for Decentraland to power brand advertising and consumer economy across metaverses
The metaverse is the hottest news in the Web 3 world. Everyone, including big brands, is enthralled with the possibilities of living and interacting in a digital world. However, various early birds, including brands and individuals, aren’t okay with just keeping a tab from afar. They have already dipped their toes in the industry — even though metaverses are still in their nascent stage.
Don’t look any further. Let’s talk about Facebook, now Meta. The company recently revamped its identity from a social media company to a social metaverse company, aligning itself with the changing landscape to revolutionize businesses through the metaverse. Zuckerberg’s plans include introducing a new way of handling remote work and marketing for businesses.
But the realignment doesn’t just end with Meta. There are many bigwigs who have woken to the possibilities of the Metaverse and are taking advantage of it.
Nike, for example, purposefully built a metaverse space called Nikeland to allow its fans meet, socialize, interact, and be a part of promotions and events happening in the metaverse.
The advertising industry in metaverses is merely taking a shape as of now, but it has already started creating the ripples, all for the right reasons. Let’s delve deeper and understand how metaverses can revolutionize advertising and brands.
Brief Introduction to Advertisement in the Metaverse
Metaverse advertising is simply advertising but on the different virtual universes available. Metaverses are indefinite virtual worlds that exist in a real-world timeline, providing brands with a vacant playground to play the game they want to. Brands can conduct events, have billboards on real estate, launch their product NFTs, and the possibilities are unending.
With NFTs and DeFi becoming increasingly popular, more brands are now aware of the importance of spreading their wings into the new virtual universes popping up around us.
It began with big brands pushing for virtual versions of their products, and hosting virtual fashion shows. Today, brands are full-on advertising on virtual universes like Decentraland, and Roblox.
But it doesn’t end there. Metaverse advertising transverses both physical and digital products. While brands may use metaverse advertising to advertise products they have on the metaverse, they may just as well advertise products they sell off the metaverse. This bridges the virtual and physical worlds and expands the available market both for sellers and buyers.
Benefits of Advertisement on the Metaverse
Here are four solid benefits that advertisements on metaverses offer:
Increased Brand Awareness
One of the early stage goals of every marketing effort is to increase brand awareness. A good way to expand the scope of this goal is to incorporate metaverse advertising into your strategy. The idea is simple: a new platform, and a new method of advertising equals a fresh set of viewers. The set of people you’d reach on Facebook wouldn’t be the same you’d reach on Twitter. Following this principle, metaverse advertising exposes your brand to a new set of people who are more likely to remember you not just because of your stellar advertising method, but also because of the limited number of ads in a virtual world.
Improved ROI on Advertising
It goes without saying that a newer marketing media has the potential to increase the overall ROI on advertising. The recipe for this end goal is simple — new marketing method, new audience, and a fresh batch of people converting to customers. It doesn’t get better than this especially if you’re a small brand without so much coverage. The metaverse could provide the much needed push your brand needs to be noticed.
Improved Flexibility
Metaverse ads provide a new opportunity for brands to connect with their audience. The traditional methods of brand advertising can now be taken several steps further through the myriad of options the metaverse offers. These range from having more options, including events, influencers, trends, and even movements hosted on the metaverse.
Metaverse advertising also gives brands the opportunity to target a younger and more vibrant audience.
While the older generation may have grown comfortable with traditional marketing, the younger generation has evolved beyond that. Both millenials and Gen Z audiences are becoming increasingly aware of the benefits of Web3 technology and adopting is continually expanding among that demographic. Leveraging the benefits of Web3 in capturing this audience base is crucial in keeping brands relevant long-term — we’re talking decades here!
The First Mover Advantage
On top of that, it gives brands the first-mover advantage. While being the first mover also presents a unique set of challenges, these challenges are largely an opportunity to seize unprecedented levels of growth. Riding this wave properly means brands have the chance to capture large market shares and dictate the direction the market moves, keeping them several steps ahead of the competition. This also makes high volume monetization relatively easier since the requisite market share has already been captured.
Advertising on Decentraland
Decentraland is a virtual universe where players can purchase, lease, sell, and develop land, roads, plazas, and real estate. It created a buzz in 2018 when word got out that investors were making a tidy profit off digital real estate. This sparked a lot of interest in Decentraland. The project benefitted from the attention as more investors began to put money into Decentraland. By 2021, Decentraland had gone from selling land at $20 a piece, to selling each parcel of land for between $6,000 and $10,000.
What does advertising look like on Decentraland and why do brands want to place an ad on Decentraland?
It’s all in the way Decentraland is run. To register as a player, you need to create a username and avatar on the Decentraland platform. Next step is to rent or buy land. Just like it is in the real world, prices and value of land vary depending on location and city. The next step, which is the most important to this article, is renting or buying a billboard.
In the conventional sense, if you plan to lease your land out, you probably need a billboard to share your ad to as many people as possible. Billboards are essential to advertising in Decentraland as well. Instead of a physical billboard advertising where the sale of real estate as is done conventionally,, billboards .in Decentraland are virtual and are therefore not geo-restricted. This extends their reach far beyond the confines of what traditional billboards can offer.
Decentraland Integration by Cros
Cros understands how important Decentraland is in this burgeoning era of metaverse advertising. Integrating a major platform for metaverse advertising is a bold step taken by Cros to ensure they stay at the cutting edge of metaverse advertising.
What does this mean for you?
Good things. Cros’ move to integrate Decentraland can only mean great things for you. But in the nitty gritty details, Cros’ move means that you can now take advantage of one of the biggest metaverse advertising blocs — Decentraland A partnership of this magnitude introduces brands to a new level of digital reach, accelerating growth through the use of technology as never before seen in advertising. You can now secure a billboard in Decentraland and use it to share your business to the thousands of Decentraland visitors.
Conclusion
In all the noise about the metaverse, businesses are beginning to see the metaverse for what it is — marketing gold. It’s the 1940’s all over again and the era of the first television adverts. Businesses who take the plunge into this new fascinating world, would not only have the chance to dominate but also to enjoy the most benefits. Already it has begun with billboards on platforms like Decentraland.
Are you a brand considering how to get on on the fun and get your own slice of the cake? Cros is the platform for you. We not only have a great web 3 ad manager platfom, but we have also partnered with the biggest metaverse platforms like Decentraland and Roblox to get the best ad slots for your business.
About Cros
CROS is an advertising platform and protocol connecting metaverses with advertisers using blockchain smart contracts. CROS enables Metaverses to power Advertising and eCommerce. Connecting Metaverses with advertisers and users in an intuitive and decentralized process. Standardizing Advertising NFTs and powering immersive consumer economy across metaverses. Enabling Everyone to earn from advertising and unlocking new heights for the play and earn economy.
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