It’s the hottest buzzword in the tech world today: but what is the ‘metaverse’?
Facebook recently changed its corporate name to Meta. This was part of a major rebrand to reflect the media giant’s increased focus on building a virtual world. Known as a metaverse, it’s the next evolution of social connection.
“The metaverse will feel like a hybrid of today’s online social experiences, sometimes expanded into three dimensions or projected into the physical world,’’ Meta explains. “It will let you share immersive experiences with other people even when you can’t be together and do things together you couldn’t do in the physical world. It’s the next evolution in a long line of social technologies, and it’s ushering in a new chapter for our company.”
Several other companies have begun building metaverses, or elements of the metaverse, for the future. They include Nike, Roblox, Tencent, Microsoft, Amazon, Gucci just to name a few.
How To Leverage The Metaverse For Your Business
The virtual world gives brands massive opportunities as it will transform the way we work, do business, network and shop.A business leader’s ability to adapt will determine how successful a brand may be in this new phase of virtual interaction. Click To Tweet
The Future of Work In The Metaverse
Without a doubt, the Covid-19 pandemic already has put the corporate world to the ultimate test. It has quickly pushed workers to remote collaboration. As people’s lives gradually begin to recover, one thing is certain: job digitalization is here to stay. For both employees and employers, the future of work in the metaverse is much more efficient, streamlined, and convenient.
The Future of Commerce
While online purchasing and delivery have been the new norm since the pandemic, the metaverse will further hasten this trend. Consumers will no longer be required to visit physical stores in order to check out new products before making a purchase. They will be able to do this from the comfort of their own homes thanks to VR and AR. The metaverse will allow for more participatory in-store experiences.
Revolution in Advertising
The metaverse represents a shift away from traditional advertising and towards brand experiences that are more engaging, more interesting, and less intrusive than what we currently see in digital advertising. The phrase “in real life” has taken on a whole new meaning for those trying to create a relationship with Gen-Z consumers. Digital alone isn’t enough; it needs to be engaging, meaningful, and immersive. And this is exactly what the metaverse will do for brands in the not-too-distant future.
The metaverse will have its own economy. Cryptocurrency and digital currency will most likely become the primary means of trade. Bitcoin and Ethereum are more well-known cryptocurrencies today, but the number of digital currencies will undoubtedly grow in complexity as new ones are created on a continuous basis. Such currency will be critical for transactions in both the physical and digital worlds, all will be supported and disseminated by blockchain-based technologies.
Socialisation and Human Connection In The Metaverse
The metaverse will change how we socialise. It will connect us to a much wider network; we will be able to virtually meet people from all around the world. Connectivity will increase as the internet shrinks distance. Imagine attending a conference or a concert with people from all around the globe and being able to interact with them face-to-face, thanks to our avatars. Social circles could grow tremendously.
If you’re a marketer or business leader obsessed with the possibilities a nascent realm like this offers, then you need to stay up to speed with the latest technological developments. This includes understanding the metaverse and its full potential.
- Begin creating content using AR
- Attend or host an event using AR or VR
- Work with creators and influencers who are already in the space to get a boost forward
- Create PR content using AR as a way to stand out when pitching stories
- Set Google Alerts to follow “metaverse” in the news and see how that kind of intel can help your brand fit into the narrative
- Begin interacting with journalists, reporters, and analysts who are covering AR/VR and the metaverse (SEJ)
See You In The Metaverse!
The digital future will reward those who can take advantage of it. To this end, we are constantly learning, and staying abreast of advancements and updates to keep our clients ahead of the game online. We’re obsessed with helping you achieve your objectives even in a changing landscape. Learn more about how we can help you get more done.