So you’ve got a big marketing budget, and are wondering whether it’s worth dabbling in the metaverse.
Given that Travis Scott’s concert on Fortnite drew over 12 million views, I get it.
But what are your options in this still embryonic phase in the evolution of the metaverse?
While the following is by no means an exhaustive list, they represent some of your first ports of call.
1. Ad Placements
Think real-world advertising such as billboards, signage, and posters on buses, except in the metaverse. In truth, it’s not hard to imagine. Videogame series such as NBA2K and Grand Theft Auto have long promoted brands in their games.
2. Product Placements
Similar to real-world product placements, as modeled by Garth Elgar below, brands can place their product in fit-for-audience experiences in the metaverse.
For example, Hasbro partnered with Roblox to bring Nerf guns to life in the metaverse.
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 a whopping $4,115 on a virtual Gucci handbag — limited edition of course!
4. Event placements
Travis Scott, the hip-hop superstar partnered with Epic Games to perform a concert for Fortnite users. The live concert, below, garnered over 12 million live viewers (that’s about 600 sold-out Madison Square Gardens in one go).
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 unique objectives.
For example, InSpace works with commercial real estate developers to help them market and sell their property, often off-the-plan.
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 apparel.