In a recent blog post, I took a look at the 10 ways the metaverse will change advertiser focus. Having understood what all that above implies, we can then look at the opportunities that exist for (all types of) advertisers in the metaverse to see where client media budgets can be attributed.
Here are my top six:
1. Ad placements: Just think real-world advertising such as billboards, outdoor signage, and roadside/bus posters etc. — except in the metaverse. It’s not hard to visualise. Video game series such as Grand Theft Auto have promoted brands in their games for years already.
2. Product placements: Similar to real-world product placements, brands can place their product in fit-for-audience experiences in the metaverse. For example, Hasbro recently partnered with game Roblox (a global platform that brings people together through gaming) to bring “Nerf” guns to life in the metaverse. Nerf guns are real world “blasters” and accessories including darts, water, and lasers.
3. Experience placements: Gucci also partnered with Roblox to launch a Gucci-themed world in its metaverse. Players can enter the world, buy in-game content using real money, and so on. In fact, one player spent US$4,000 on a virtual Gucci “limited edition” handbag. Read about it here.
4. Event placements: The hip-hop performer Travis Scott recently teamed up with Epic Games to perform a concert for Fortnite users. The live concert got over 12 million live viewers. Now, a range of digital Travis Scott items can be bought here.
5. Owned metaverse: Aside from partnering with existing “metaverses” that might only get you in front of a relatively narrow type of audience, you could create your own metaverse to serve your specific objectives — for example, with real estate sellers or car dealers, using to help them market and sell their property via AR and VR tours. Maybe this is a resurgence of our classified ads in the making? See this link (and one below) for how the real estate is now using Virtual and Augmented Reality to revolutionise its selling process.
6. NFTs: Finally, brands are exploring digital products by way of NFTs (non-fungible tokens) that can be purchased through crypto exchanges or within the metaverse. For example, Nike is in the early stages of rolling out virtual branded sneakers and clothing. See link.
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