Into the Metaverse: A Brand Primer
Following social and digital before it, we have now entered another epoch of marketing; the Metaverse.
The word ‘Metaverse’ is being thrown about in meeting rooms and taking up column inches across Asia. Many clients are starting to ask about what it means to their brand, their business and how they can effectively be part of it.
While the metaverse as a concept is still relatively nascent and the technology required to realize its full potential still not fully available, this shouldn’t stop businesses and brands from having a strategic vision in place to make the most of this exciting new chapter. Currently, we in fact see 4 tactical opportunities for brands looking to dive into the metaverse to create more engaging, exciting experiences:
Remember Pokémon cards? Baseball cards? Remember collecting all the different Happy Meal toys as a child? NFTs make collecting possible without storing physical goods. Brands are jumping into this space and are releasing and selling NFT collectables within gaming worlds and open source platforms.
In game and in virtual world eCommerce is on the rise. Giving consumers the ability
to purchase within worlds (be that goods sent to their home, event tickets or gamified NFTs) is now very popular. This opens another purchase channel and unique experience to consumers to connect with brands.
Avatars & Accessories
Creating avatars and buying avatar accessories within worlds is very popular so customising your avatar to be unique is important. Brand mascots, fashion clothing and accessories are now purchased via NFTs from brands directly or within world stores.
Brands are using metaverse worlds to host events - be that locally or globally. Live music shows, interviews with celebrities, meet and greets, movie releases and listening parties for album drops. Brands are taking advantage on a single platform to reach a global audience with a unique experience.
In their latest whitepaper, Ogilvy Asia’s Head of Experience Sheilen Rathod and Ogilvy Hong Kong’s Group Strategy Director Chris Hilton explain what the Metaverse is and how brands can leverage it to get ahead of the curve, covering the following:
- What are current metaverse platform (or world) examples?
- 3 ways brands can take advantage of new opportunities presented by the metaverse
- Examples of brands leveraging the metaverse to drive engagement and connect with their audience in novel, interactive ways.
Click here to download the full paper.