By Rahi Chadda
The metaverse is said to be the next evolution within the internet to be witnessed by our generation today. A virtual reality that mimics our physical world. For some it may just be an immersive experience while for others it will dictate the next stage in their social media expansion and work environments. For digital influencers, the metaverse should provide a space where they can engage with their audience and other creators, as well as share experiences together.
For some people, a day in the future in the Metaverse may be hard to imagine, but from my many reading on this topic, it seems like a futuristic vision. Users can teleport from one location to another in the metaverse. If you’re tired of the cold London mornings, why not take a short trip to St. Louis. Tropez, or better yet, overcome the heat by charging your digital twin under the Caribbean sun. Enjoy virtual festivals around the world and party with other creators. Leading the Metaverse is a 3D virtual reality called Decentraland, built on a decentralized Ethereum cryptocurrency, where users can buy land, hold exhibitions and movies, and participate in commercial activities, such as real estate. Fashion houses like Etro and Dolce and Gabbana recently held their first Metaverse fashion show for Decentraland Fashion Week. The space in the district is already evolving in its fashion and we are sure to see an influx of designers joining us soon. A space that allows users to navigate between physical and virtual domains.
The metaverse has also started posting job vacancies. I read an article earlier where an offer was available for a Metaverse user to work at a digital casino on a monthly payroll with payments to be made in cryptocurrency format. Creators will soon receive in-depth opportunities that will help inform the brand’s metaverse launches and also build trust and recognition in the metaverse with the creator’s existing audience.
Gucci recently sold its digital bags to Metaverse, whose owner is NFT-certified. The bags sold for over $ 4,000 each. There is no denying that there is a market and an audience for this virtual space. RTFKT, a platform that secures ownership through NFTs, sold more than $ 3 million worth of digital shoes in 10 minutes earlier this year. So, with billions of dollars invested in the metaverse, there seems to be enough room for marketing and enough funding for companies to make this transition to virtual space. The metaverse acts as an effective tool for companies to carry out their advertising and promotional activities in a virtual room and therefore users receive consistently targeted advertising.
Metaverse seems to have the potential to change the social media landscape. Mark Zuckerberg (CEO & Founder of Facebook) also revealed his intention to be a “metaverse company”. Brands have access to advertising on a whole new dimension, with digital avatars showcasing trends and with Decentraland becoming an influencer HQ, the virtual town will act as a conduit for influencers. to make it more comfortable to move to the metaverse, because they are already familiar with neighborhood brands. Actually, it’s just a virtual leap of faith, still to be done.
For established influencers, the metaverse seems like an opportunity to enhance their digital journey with their new digital twin, where they can partner and further develop their existing relationships with brands while engaging. -with and communicate with their peers. For others, it gives them a new opportunity to build a new audience in the new digital space, which seems less saturated. Many Gen Z and Millennials don’t know the difference between the real world and the digital world. Social media and the internet are a part of their real world and that makes them ideal target candidates for the metaverse.
Brands are also starting to create their own virtual influencers, also known as meta-influencers. A strategic idea that gives brands the possibility to have their own representatives / ambassadors who can connect with users. Virtual influencers seem to cost less than regular influencers when it comes to advertising and they are given complete autonomy over how they want the virtual influencer to communicate the point of view of a brand today. events, such as diversity, inclusiveness and sustainability. The brand also has access to deploy the influencer in different areas at a time. This marks a change in current advertising methods, but also an opportunity to access a new consumer with different preferences. Does this mean that with the birth of the metaverse, the opportunities are endless?
The author is the founder, Panache and Marina
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