Are there any cases in the metaverse?

Photo: Pixabay

The social networks in which we now operate are our new space for communication and socialization. An integrated social dialogue space with messages with various multimedia elements (music, video, images).

In this ecosystem, brands and companies have developed a large part of their marketing strategies, digital advertising and their new commercial channels.

A scenario that already points to the development of a web 3.0 determined by the bigdatathe semantic weband artificial intelligence.

On January 24, 2022, Mark Zuckerberg announced in a Facebook post that he was launching the most powerful supercomputer in the world, operated by artificial intelligence. A project that seeks, among other things, to optimize its metaverse proposal.

Two other major tech companies have announced their economic moves to position themselves as builders of the metaverse. On January 18, Microsoft announced the acquisition of video game design company Activision Blizzard (Call of Duty, Skylanders…) for 68.7 billion dollars. Two weeks later, Sony has counter attack buying the Bungie studio for $3,600 million (Halo, destiny).

This idea of ​​metaverse, understood as a set of virtual environments that serve as a playful, social and productive digital extension, and in which people experience corporeality, interactivity and persistence.

In other words, it is an evolution of the Internet and digital spaces of communication and socialization.

Profit trading in the metaverse?

The current proposals of the metaverse are playful or socializing experiences. In many cases, these are games of open mode that promote real-time communication between players and businesses through the sale of items.

However, brands and companies have been paying attention and often wanting to anticipate other possible scenarios.

On the one hand, for three years we have seen how different artists have reinforced their personal brand through concerts in fortnite. And on the other hand, some brands have developed experiences in animal crossing a new horizon or Roblox.

It’s not new. As early as 2003, many companies sought to replicate the actual advertising and infrastructure in Second Life. But then the internet was slow, had less global penetration, and digital literacy was in its infancy.

Now the covid-19 lockdowns, the development of block chainadvances in virtual reality and mobile technologies have changed the environment.

We are all much more digital. Hyper-connected, multi-screen audiences are concentrated between millennials and Gen Z. And the new Alpha generation, 11-year-old boys, are socializing and interacting across Minecraft, fortnite, Roblox or similar. And, in addition, they normally use smart speakers and consume information in diffusion.

Virtual products for real users

Major clothing brands like Zara and H&M, and luxury companies like Balenciaga, have chosen to design virtual avatars in different spaces of the metaverse. It’s clear that even in the virtual world, people want to differentiate themselves as they do in real life.

However, not everything is so simple. Epic Games has been accused of encouraging consumerism for avatars in fortnite. And this caused episodes of frustration, exclusion or harassment among very young boys faced with the impossibility of “not being fashionable or following the trend”.

Likewise, more and more people are starting to congregate in the metaverse, just like in the real cities. Users participate in live events, hold breakout sessions, and trade using virtual currencies and digital assets, such as NFTs.

And that’s the reason why these virtual places are a great space for attention. Thus, a vibrant and dynamic market of virtual plots has emerged, where there is also speculation and some have warned that a bubble could take place whose consequences are still unknown. Meanwhile, Adidas has already taken possession of The Sandbox lands.

music and metaverse

Warner Music has also acquired a considerable extension of virtual land in The Sandbox for hosting music events. The announcement of this operation has revalued the cryptocurrency of this platform.

And it is that the music industry has begun to see a new field of action in the virtual sphere. Stageverse kicked off worldwide with a concert by Muse and Snoop Dog announced a collection of avatars in The Sandbox.

But beware, this does not happen throughout the metaverse. This only happens on these decentralized platforms on block chain. However, nothing prevents Meta or Epic Games from negotiating with brands and companies for specific spaces in their virtual proposals.

It’s worth remembering that Vans and Nike already have their custom experiences up and running in Roblox: Vans World and Nikeland.

With an eye on the not too distant future

As artists and millionaires “build” and invest in private infrastructure in the metaverse, companies such as Coca-Cola or Atari have begun to engage in loyalty actions through NFTs and cryptocurrencies.

The virtual environment gave the possibility of creating personalization elements of avatars or digital contents. But, in addition, it gave the opportunity to create a few professions adapted to the context: island landscaper, interior decorators in animal crossing or gardeners in Minecraft.

This last job, as well as that of avatar trainer, is envisaged in the Spanish government’s innovation and employment plan for 2050 p. 302,

In the metaverse, business models that already exist in the real world can be applied. But its flexibility allows you to think of new opportunities or job opportunities.

Not forgetting the real world

Still a long way to go. Companies and brands should not only think about virtual infrastructures, but also deepen their marketing strategies. attraction marketing and relationship marketing. The objective is to be able to fully exploit the socialization capacities offered by these scenarios.

Meanwhile, in the metaverse, there is also a growing demand in the analog plane for specialists in programming, 3D design and virtual reality. And all this with the aim of bringing the virtual plane still under construction to life.

The conversation

Pavel Sidorenko Bautista, professor and researcher at the Faculty of Business and Communication, UNIR – International University of La Rioja and José María Herranz de la Casa, journalism professor, University of Castile-La Mancha

This article originally appeared on The Conversation. Read the original.

Independent journalism needs the support of its readers to keep going and make sure the uncomfortable news they don’t want you to read stays within your reach. Today, with your support, we will continue to work hard for censorship-free journalism!