14 Jun Looking to dip your advertising toe into the metaverse: Three ways to test it out
When looking ahead to the next big thing in the world of digital advertising all eyes are set squarely on the metaverse.
The still a work-in-progress digital world looks to add virtual and augmented realities where audiences will interact in a coalescence of the digital and physical worlds.
While too many this future seems ripped from the pages of a sci-fi novel, it soon will be a reality.
An estimated $800 billion in revenue opportunities is predicted for the global metaverse by 2024, according to Bloomberg Intelligence. Gartner predicts that 25% of people will spend at least one hour per day in the metaverse by 2026.
The prudent approach to the metaverse at this point is to learn, observe, and wait for the concept to become more tangible, since it is far too early to know what investments are going to bear fruit in the long run.
For those interested in being early adopters in the space, there are a few initial solutions that suggest potential advertising applications. Although this medium won’t be replacing the way we interact digitally any time soon, brands can be part of determining how this new reality unfolds by exploring it now.
Following is a breakdown of three of the most popular approaches brands are using:
Building Immersive In-Game Worlds
Implementing in-game worlds brands can create new and meaningful experiences with their consumers.
Creating Virtual Flagship Storefronts
Virtual flagship storefronts allow for an updated take on the online marketplace. By mimicking the real world in the virtual one brands are revolutionizing the digital storefront and what digital shopping can be.
Implementing In-Game Advertising
Gamers are receptive to seeing brands as they roam about in the metaverse. While the concept of advertising in game goes back to the turn of the millennium, the updated approach harnesses the confluence of the digital and physical worlds the metaverse brings.
At present the metaverse is still very much in its early stages, but that won’t last forever. In the tech industry, things move quickly, and brands can choose from a variety of options. By understanding the technology now, marketers will be ahead of the game in the future.