The metaverse is important news throughout the game industry, as well as for brands worldwide. The question is, how does it become more powerful in the metaverse as it begins to take hold in the real world? On the first day of, three brand experts and metaverse converts approached the topic and discussed this and other large issues.
"It's important for brands to partake now, because that's where our audience is going," said Angelic Vendette, the head of marketing at Alo Yoga, the Los Angeles-based premium yoga apparel company. "You want to meet your audience wherever they are."
Brands should jump in right now just to test and learn as the community and technology evolve, right from the start-to-day, and growing as it grows, but authenticity is key.
A lot of the rules for engaging with people in games are the same for engaging with people in the metaverse, said Gabrielle Heyman, the head of global brand partnerships at Zynga. Authenticity is extremely important. Being a part of the gameplay. enhancing their ability. Seeing a lot of the activations in the metaverse, the current Web 2.0 metaverse, are giving value to consumers.
While you were early on in social media, you benefited disproportionately from that. According to Samuel Huber, the founder and CEO of Admix, the popular game monetization platform, at any stage of any network, less competition is available, and learning is easier.
We see the metaverse as, in turn, a new channel to reach an audience, said the author. And whether it be Roblox or Sandbox or Decentraland, they all are effective various channels that have differ audiences and tools to create content in different ways. Being early, being able to experiment and make mistakes, understanding the platform ahead of your competitors, that's always a valuable thing.
Web 2.0 vs. Web3.
Heyman said that there are only two dominant metaverse platforms, Roblox and Fortnite, but Web3 is a completely different stick of wax, because cryptocurrency is involved, and losing and making money is a very effective strategy for the consumer.
"It's a high-value consumer in this room. I don't think we have quite established the perfect cocktail to engage there," she said.
Brands are aware that Web3 is the next stage of the internet, according to Huber, and that it is a trend that is bigger than any other company. Basically, brands must get involved and not only experiment, but continue to demonstrate their value, in this new online identity, for example. In Web 2.0, Adidas is a huge asset. In Web3, Bored Ape is the biggest asset.
For Adidas, to come together was a good idea to say that in this new phase of the internet, we're also relevant, Huber said. I see the Web3 metaverse as the user interface of Web3. It's where all of these activations will come to life. That's why brands are jumping in.
When you have significant cultural shifts, such as Web3, and decentralization, a new way to control the creator economy, and so on, it changes the way consumers perceive the economy and its competitors.
"Maybe something like a luxury brand isn't really cool anymore because they don't represent the interests of a new generation," he added. "I believe Web3 really embodies that new culture, going against the industry, the decentralization [where] you can own digital items. It's a very solid representation of your business.
Vendette said the notion of co-ownership with brands can be a powerful one for players, but brands can't worry too much about getting cool or relevant, and their involvement must be authentic, and you must be able to create an experience or utility that's relevant to your consumer, whether it's in a 2.0 or three universe.
Realistically, Web 2.0 metaverses are definitely the gateway into what we now know as Web3 metaverses, she said. Roblox, a yoga company that specialises in mindfulness, mindful movement, and yoga in the metaverse, meant that consumers could also purchase digital goods. There was no monetization, but it ended up launching 27 million items of digital fashion in the metaverse right now.
The greatest misconceptions about the metaverse
When it comes to expectations, Ready Player One has a lot to offer.
Generally there is a misconception about what the technology can actually do, Huber said. Getting 10,000 people in the same instance in a live concert in VR, the technology cannot. Not even close... There is a disconnect between the brands' dreams, when they finally understand the power of the metaverse, and what you can actually do today.
Vendette said she expects other companies to jump in because they see them in the press, but they do not understand the space in any meaningful way. Deshalb, she invests and creates in the metaverse, as well as her brand work.
If you're not going to be amincing and constantly research as things evolve, you may risk stumbling big time. The space is changing, and it changes every day, she said. There are no experts in the field.
Heyman points out that you can't jump into a metaverse strategy until you know what you're trying to achieve, and whether or not the audience you want to capture is the right person to serve it. Gucci's activation in Roblox, where only 5% of the audience is over 25, has led Heyman to a ban on Gucci's swag for her own avatar, but her kids were not really impressed.
"Maybe they're trying to reach the consumer of tomorrow," she said. "Understanding what your objective is, who you're trying to reach, what the purpose is, and not just being the shiny object of today. What is our true objective and ROI?
The introduction of a metaverse vision
What are the steps you take to get started, and what is critical for a metaverse strategy? Vendette said that testing and learning are always essential, because there isn't one right answer right now, and there will be even more choices in the future. And on top of that, get educated, and experience the metaverse as a consumer and as a user yourself before you introduce your brand into the space.
According to Heyman, authenticity is crucial, so if you don't have your own crypto wallet and Decentraland account, you should find team members who do so.
"And then trust your partners, people like us who are in the business and building these environments, about what will resonate and not have backlash with the audience," she said.
Web3 is the first phase of the internet, driven by blockchain and crypto, and averaging 300 million people a day using it daily.
This is happening in one way or another, he said. Jeder sooner you can get in, the sooner you'll become involved.
Check out the. section of the discussion for more information.