The metaverse provides brands with a new form of relationship that allows the consumer to be part of the product instead of being sold the product. The Metaverse offers an immersive experience, with a new community-driven economy at its core.
The immersive commerce is shaping up to be the biggest new growth opportunity of the next decade, given its potential to enable new business models, new products and services, and act as an engagement channel for both b2b and b2c purposes.
The metaverse is the new ecosystem of business and digital presence in which communication, product marketing and advertising offer more immersive and enriched experiences. One of the main attractions of web 3.0 is its potential as a sales and distribution channel, which helps to increase brand visibility, grow awareness and obtain more accurate and relevant data.
From these activities, the metaverse has already formed its own new economy: in 2021 alone, more than 41 billion dollars in NFT sales were generated, and in 2022 the virtual real estate sector has already exceeded 1 billion dollars. Following this line, the forecasts for 2024 are promising: it is estimated that it will exceed 800 billion dollars, of which 100 will come from the luxury sector exclusively.
Virtual interior design
One of the most remarkable values of the metaverse is its constant development and change in the emergence of industries such as the construction of luxury digital spaces made up mostly of design firms.
The metaverse will integrate interior design to reimagine existing living spaces with designer furniture and to be able to recreate new unique and personalised spaces.
Virtual spaces in the metaverse
The virtual spaces in the metaverse (HQ, offices, showrooms, stores, etc.) are the new showcases that show the brand experience of each firm and encourage users to further explore their identity.
Christie's, decided to further exploit the possibilities of the virtual world and, in addition to its own gallery, also developed a digital art store with works in NFT format by the most illustrious masters.
Virtual events have taken on a special role and are expanding to more common formats such as meetings, presentations, press conferences and even conferences, seminars or B2B business fairs.
2.3 million viewers virtually attended the Travis Scott concert in Fornite 33 million attended Lil Nas X's digital concert on Roblox
Content marketing, social media and avatars
The metaverse enhances social experiences and offers more immersive interaction between users or avatars, vividly and realistically simulating any social situation, such as hanging out with friends or having a business meeting.
We go from social reality to immersive reality. This change also has an impact on advertising, which seeks to generate more attractive, more exciting and less intrusive engagements.
Content marketing is also undergoing a transversal change in the metaverse, such as posts that will give way to more interactive virtual experiences. Direct To Avatar is the new essential business model for the Web 3.0 marketing strategy, since it allows to sell complements and accessories for avatars.
© David Millón 2022