Brand Experimentation In The Metaverse | MetaVersus
MetaVersus is building a world of limitless possibilities for individuals, businesses, companies and brands. This is an online-first immersive virtual world where the avatars of real people connect, play, work, communicate, and socialize with one another. MetaVersus serves as a platform for brands to test the limits of what is possible in terms of immersive digital storytelling. The Metaverse is one of the most talked-about topics and it’s ready and primed for brand and marketing experimentation.
MetaVersus presents myriads of opportunities for brands to put their strategies to the test within the virtual reality of the Metaverse. Many opportunities exist for a variety of industries, including gaming, social networks, fashion, sports and others. One advantage of Blockchain tech is the strong pull to experiment and explore the possibilities that are obtainable. MetaVersus is a world with several worlds within, more like “Multiverses”.
Microsoft, Nvidia, Snoop Dogg, Nike, Sotheby’s, Gucci and PwC are brands that have experimented with the Metaverse and other brands have a thing or two to learn from these brands. Some of the most successful brands have experimented with immersive commerce and blended it with e-commerce.
Immersive commerce is obtainable in the Metaverse and constitutes branding and marketing activities that are based on customers’ more in-depth interactions within this new digital environment. MetaVersus creates opportunities for young designers and upcoming brands to venture out and experiment on a low budget.
How Brands Can Start Experimenting In MetaVersus
The Metaverse is still in its early days with several new territories to explore, marketers will recognize some features of the Metaverse that would enable them to achieve their goals. It can be very daunting to test new areas but brands can leverage MetaVersus to do every kind of experiment that they want to do.
To start experimenting in the MetaVersus, brands can rent land to;
- Continue engaging customers in several meaningful ways.
- Create content that is contextually relevant.
- Leverage tools available to measure the return on investment (ROI) of their marketing campaigns.
- Make the most of the creative potential offered within the MetaVersus.
- Launch products that will help native users to recreate, express, digitize and customize themselves.
- Create innovative ways to reward users while they experience the brands offerings.
MetaVersus is built for the real-world user with different kinds of needs and this encourages brands to try out strategies that will help them scale and multiply revenue.
MetaVersus’ Land For Brands and Workspaces
Land rentals in MetaVersus present great opportunities for different brands to experiment in detail and analyse impact and results. These lands will serve as workrooms to create virtual designs for real-life products or test a market strategy before launching in the physical world. Brand experimentation on these lands presents opportunities for low risk and low-cost product development. Compared to the cost of making and launching a product in real life, land rentals save a lot of costs for brands and businesses.
Nike is a well-known and well-established brand; the company is also leading the way for brand marketers in the Metaverse. Nike filed for patents on virtual goods and the opportunity to build virtual retail environments in which to sell those goods. They also acquire a company known as RTFKT. RTFKT is in the business of producing virtual footwear and collectibles for the Metaverse. Other brands can also take a cue from NIKE to collaborate or implement their brand strategies on the MetaVersus land.
Even while many brands are still in the planning stages of determining how they will play a meaningful role in renting the lands, it is abundantly evident that MetaVersus is valuable in terms of engaging with your audience. It is built to accommodate thousands of users participating in activities in the Metaverse, and it is abundantly clear that there is potential for extended and significant conversation. You may now capture a user’s attention not only as they walk down the street, but also as they drive a race car or motorbike down a virtual one. This was previously only possible when the user was actually walking down the street.
Microsoft is positioning its cloud services to be the fabric of the Metaverse by using its Mesh platform to enable avatars and immersive spaces like MetaVersus to thread into collaboration environments such as Teams over time. This strategy is part of Microsoft’s larger strategy to position its cloud services as the fabric of the Metaverse. Many of these innovative and imaginative virtual business experiences are anticipated to become even more relevant to the manner in which businesses communicate with their employees, especially in remote working environments. Hybrid workplaces are another experiment that is obtainable by using land in MetaVersus. Companies can save costs on hosting physical work summits by organizing a virtual one in the Metaverse.
The Brand Advantage
A typical example of fashion brand experimentation in the Metaverse is the Gucci Garden show which was held in Roblox for two weeks in the month of May 2021. The Gucci Gardens were divided up into a number of distinct rooms. Whenever a visitor entered one of these rooms, their avatar was transformed into a neutral mannequin, which is analogous to a blank canvas, and it was able to take in the various aspects of the exhibition as the visitor moved through it.
After that, guests had the opportunity to buy virtual Gucci wearables that could be used to outfit their avatars. Due to the high level of demand for Gucci goods, a bee-embroidered digital purse that was originally purchased for 475 Robux (valued at about $6) was later resold for 350,000 Robux (approximately $4,115). Now that’s the kind of brand advantage that could be achievable by renting or owning land in MetaVersus.
Brand Voice and Target Audience
It is vital for both individual and corporate brands to identify some crucial points before jumping headfirst into the process of changing their brand image to suit the Metaverse. The Metaverse should align with your brand goals and objectives. The brand should test what will interest its target audience into following them into the Metaverse. However, this is an experiment and nothing is certain until it’s tried.
MetaVersus is a virtual experience with a difference with higher chances of success for the brands that plan to leverage it to reach a wider audience, what MetaVersus has to offer has to blend with the brand to reach optimal success. To maximize MetaVersus, these brands should take note of what their target audience places importance on and identify the features of the virtual world they will maximize more than the other. It is recommended that these brands create a synergy between their brand message and their customers in order to accurately evaluate results after the experiment.
In a user-centric immersive world like MetaVersus, every brand that wants to successfully experiment should consider creating new business models to suit the emerging world. As brands test and experiment within the Metaverse, there is a strong need to maintain brand integrity and consistency.