Brands have been dabbling in the metaverse for a few years now, but it was Meta (formerly Facebook) that has shifted the public discourse around the virtual future.
What does this mean for the future of brand opportunities? Many are still coming to understand what the metaverse can do for their brand – or to take a more expansive view, what their brands can do in the metaverse.
Everything’s still in motion in these early days of the metaverse and the possibilities are broad, as infinite as creativity. It’s exciting, but it can be a challenge knowing where, and how, to start.
See your strategy through virtual eyes
The metaverse as a concept has been around since it was coined in Neal Stephenson’s 1992 novel Snow Crash. But the worlds being created are still at a foundational stage. This is great for brands, but by the same token a little daunting: everything’s to play for, and opportunities are boundless.
Narrow down your options by taking another look at your brand strategy through a virtual lens. This way you can hone in on why you want to be part of the metaverse, before trying to figure out what to do and how.
Dr Mark van Rijmenam believes that when entering the metaverse, brands should focus on being three things in particular: “unique, creative and social”. Ask questions like, how do customers like to interact with our brand currently? What do they want from us and how can we provide that in a virtual space? How could our main product or service look in a virtual environment? What are the things we haven’t been able to give people because of physical constraints? There are rules in the metaverse, but your imagination is the limit.
Make it a game
Games and game-like experiences are one of the main ways brands can engage with users. This isn’t a small market: there are over 3 billion gamers around the world, or 39% of all humans. And it’s proving to be one of the most sincere ways to connect with people.
The important thing is that brands recognise that it isn’t about forcing a link between what you do and what you’re offering users; the tendency to regard classic forms of advertising with disdain is a trait especially strong in Gen Z – but that doesn’t mean they’re averse to buying. For many brands, it won’t be about turning users into customers at this stage. It’s about creating fun, engaging experiences and genuinely caring about the user. It’s also about establishing a presence: being part of the metaverse is its own branding.
There’ll be billboards and ads in the metaverse, of course. Somnium Space is already exploring ideas for how to integrate ads into the experience without being invasive, although a casual suggestion in a Medium article about watching ads before being able to teleport to other destinations in the world does show that, at its most basic level, advertising might never change.
Weaving game elements into store experiences could create new opportunities. Treasure hunts have been popular so far. Maybe this’ll only work as long as people eagerly explore these new worlds, or maybe it’s a fundamental aspect of all games.
Return of the mall
Avatars are our metaverse ‘selves’, and people will expect to be able to express their individuality through customising their avatars. This is something fashion brands have been especially quick to tap into, from Nike’s NIKELAND to Gucci celebrating their centenary with Gucci Garden (and selling an over $4k virtual bag that cost more than their real bags in the process). But it’s not just fashion: Sony has put their 3D model creation tech to use in Somnium Space to let users create full body avatars of themselves.
Direct-to-Avatar (D2A) purchases – digital products that are sold and used only in the digital world – will be on the rise.
Virtual stores will update the shopping experience, blending the appeal of physical stores and the convenience of ecommerce. But given the lack of physical constraints, there could be opportunities for brands to show new sides of their identity, and create an impression while reaching more potential customers than they could with a physical store.
Dr Rijmenam predicts “an entirely new branch of online commerce, which I call iCommerce (immersive commerce). iCommerce is the activity of buying and experiencing digital products on the immersive internet” but he also adds that, “in the metaverse, business as usual will not get you very far. Creativity is a prerequisite to succeed”.
Tesla is tapping into metaverse opportunities from a variety of angles. Operating in Somnium Space, Elon Musk’s company has set up a Tesla showroom, reflecting a more classic ecommerce brand positioning. Users can wander around the showroom and check out the Tesla models on offer. Tomas Mika, Co-Founder of Somnium Space, even made the first virtual car purchase in the virtual Tesla showroom, at the Somnium Space World Premiere in Prague.
The fabric of the virtual world
Tesla is also looking at how the brand can get involved in the mechanics of the metaverse, partnering with Somnium to develop the TESLASUIT: a full-body haptic feedback system to create even more immersive virtual experiences.
What about if you’re selling something that’s best experienced by senses that we don’t yet have in virtual reality? Metaverse experiences so far are primarily visual and aural.
Hungry?
It might not seem obvious to get food chains onto the metaverse (how do you eat digital food?) but this is when it pays to get creative. Joining in the ongoing food fight story thread in the game between Durr Burger and Pete’s Pizza, Wendy’s turned their mascot into a character that aligned with Team Pizza, destroying meat freezers around Fortnite to highlight that their beef is always “fresh, never frozen” (the stunt ended up winning multiple Cannes Lion prizes).
Meanwhile Coca-Cola overcame the challenge of recreating the physical experience of its product by tapping into its iconic red can. They got artists to create a collection for International Friendship Day, including a custom-designed Coca-Cola Bubble Jacket wearable for Decentraland, with the winning bidder receiving a branded fridge stocked with coke.
Since then, they’ve launched Coca-Cola Zero Sugar Byte in Decentraland ahead of a real-world launch that aims to “bring the flavor of pixels to life”. It’s a convincing display of how a brand’s metaverse presence can converge the physical and digital worlds.
Create social moments and spaces
Just like moving through real environments, people aren’t focused on brands and buying – that’s usually supplementary to the real experience of living, meeting friends, having fun. Products and services, done well, aim to support and enrich this experience.
A full, rich metaverse environment will have gathering spaces, cultural centres and areas people can connect. TIME recognised this and announced a partnership with The Sandbox to develop ‘TIME Square’, their envisioned heart of the metaverse, intended as a destination for meeting, and for art and commerce.
We’re increasingly faced with a decentralised and immersive internet future, full of innovative virtual experiences. The opportunities are endless – whatever your strategy is at the moment, the metaverse capabilities can fit into it, or more likely redefine it. Just remember to keep it focused on the users.
