Metaverse By DevTechToday December 9, 2022

Everything Brands Need to Know About the Metaverse

Just a year and half years back peoples were living with the COVID-19 pandemic and at that phase people are taking the help of the internet and social media to connect with their friends, family and coworkers when they are in extreme isolation. But, living the web-based life is not perfect and people are not finding that good. People want to see each other and like to interact with each other. Same goes with business and concept of Metaverse for business comes. In web-based they feel distant and impersonal. Life is fullest and everyone wants to explore it by going outside. 

Here, Metaverse came in being the blessing for the people. 

Anyway, Metaverse is not a 100% new concept. We are already aware about things like virtual reality worlds. Nowadays more people are interested in online stuff like online gaming, social media, and purchasing VR headsets and all. Here opportunities of the metaverse gained even more intrigue.

Just a year back, Mark Zuckerberg shocked the people around the world and changed the name of his organization from Facebook to Meta. 

Here, in this article, we will talk about the Metaverse and it’s reality. And also let you know how you can access all the sides of virtual reality with Metaverse and how big brands take the benefits of Metaverse. 

Does Meta own the Metaverse?

The rename of the Facebook to Meta forced many people around the world that the company might own the “MetaVerse” but the reality is Meta owns the multiple metaverse. Meta’s VR universe is known as Meta horizon worlds and organizations can access it by their Meta VR headsets. 

What happens in the Metaverse?

To know what happens in the metaverse for business and how companies can take the early advantages in the Metaverse – we will dive deeper into that discussion. Before that we need to discuss some definitions that need to be known by everyone. 

Metaverse Terms to Know

  • NFT: it is a kind of unique and non-fungible digital token like digital arts or avatar which you can buy and get ownership or stake in. Also, you will get a certificate of blockchain-based coding which says you own or have ownership in NFT. 
  • NFT Real-Estate: Yes, you can also buy the non-fungible digital property like house and piece of land in the world of Metaverse. Also, you will get a digital certificate for the same. 
  • Blockchain: A digital ledger of transactions, certificates, and contracts.
  • Cryptocurrency: We all are well aware about this term and what it is – it is a kind of digital currency on which we can invest in and with that we can purchase things on Metaverse. Bitcoin, Ether, and Dogecoin are the different types of digital currencies.
  • Open-source: Metaverse is open to everyone and anyone can do the editing on it. Developers can do the work on Open-source metaverses. 

Now, we are done with quick definition, let move to see what are the early opportunities for brands in the Metaverse.

Metaverse for business
Metaverse for business

Opportunities : Metaverse For Business Branding

Every virtual world has its own experiences, audience targets, and environments associated with it to offer. And many virtual worlds have good numbers of opportunities for the companies around the world to embrace emerging marketing strategies. Here, we will see how brands can use metaverse for business that exist today.

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1. Virtual Events

For the general business, virtual events are developed on Horizon worlds, Decentraland, Sandbox, and other virtual worlds host many landowners that can give their virtual space on rent for events and virtual parties. Similarly, companies can build their own space and host events like conferences, meetups, etc. 

If you are capable enough to run and host the event or you can also do the sponsoring then you can gain crypto revenue. Also it will help you to make people aware about your services. 

2. Influencer and Community Marketing

Yes, Metaverse for business allows you to talk to a number of people at once, at that time you can mention your product or services or even you can wear NFT clothes of NFT with your logo printed. You can also contact the brand who are doing well in metaverse and ask them to make people aware about your product and services by paying them.

3. Owning Branded Locations, Games, Avatar Fashion, and/or Shops

In some metaverse like Sandbox and Decentraland, companies with a solid budget can purchase real estate like art galleries or stores where you can promote NFT products. In the Horizon world, you will not get these opportunities as it has fewer limitations. 

4. Advertising on or Sponsoring Metaverse Content

This is more challenging and riskier in the world of decentralized metaverses, companies can offer money to eventsm games, experience, shop and in return they ask for their products, logos, or NFTs featured or mentioned.

5. Inbound Sales and Networking

Today, many marketers and sales reps alike find ourselves messaging, zooming, and emailing prospects to tell them about our product or service. And, rarely, we might go to a networking event or meeting where we talk to prospects face to face.

Now just imagine how amazing it will be to do all of these things with digital avatars. In every metaverse, you can go to any place and have conversations with others at no cost. Yes, it means that you can do the marketing of your business product and services. Also, you can learn about the same in your networking. If you want to know more about the benefits of Metaverse for business, just be connect with DevTechToday to get more knowledge.