Simply put – Metaverse is an enhanced digital twin of your current reality. It’s a collection of virtual spaces consisting of virtually enhanced, digital representations of people, places and things.
And just like the world wasn’t built in a day – the Metaverse and its various worlds are work in progress –albeit with a solid vision – being built by Visualizers, 3D artists, Game developers and the like.
How will we experience the Metaverse?
Augmented Reality, Virtual Reality, Mixed Reality powered by rich 3D content and immersive audio are how we will experience Metaverse.
And many parts of the above have already made it into our lives. So in some sense, we are already experiencing the Metaverse in its earliest versions.
Augmented Reality: 3D Objects, graphics, characters and props that you can experience in a real-world environment through your camera.
Common use cases today are Spark AR based filters on Instagram, Snap Filters, and AR games like Pokémon go.
Virtual Reality: Fully immersive, 360-degree experiences of Virtual Environments and 3D Objects delivered through Headsets & using motion-sensing controllers for interactions.
Common use cases are Training, Games, and Immersive Storytelling
Extended reality: An Catch-all term for all types of reality. It also includes real-time immersive video and experiences that blend AR and MR.
What’s in Metaverse for brands?
What is exciting about the Metaverse is the possibility of changing how advertising and marketing works.
For the longest time – brands have struggled to make advertising more meaningful to the consumer. To enable consumers to own the brand as their own. Be a part of the brand world voluntarily.
Metaverse gives that opportunity. To declutter advertising. By inviting the consumer to be a part of the Brand’s world and its stories via rich and engaging 3D environments.
I imagine that marketing in the Metaverse will be led by immersion, gamification and a role that a brand will play actively in the lives of people in the metaverse. Not so much like a display ad or an advertisement.
This will be the ultimate goal fulfilled for marketers and brands – advertising that doesn’t look and feel like advertising.
Another high potential opportunity is for conferences and branded events to take place in the Metaverse, where the world can attend without needing to travel.
What are the immediate opportunity for brands in the Metaverse:
Metaverse Product Launches:
Imagine a space in the Metaverse were in a branded environment where the digital twin of your products are launched and streamed world-over on social media, YouTube et al.
Meta Product Twins
Imagine your customers can interact and engage with digital twin of your product – whatever it may be—apparel, accessories, electronics, machines—really anything that can be made in 3D.
Turning Websites into Metasites
In the world of metaverse- why should one limit the experience to 2D websites?
Imagine your website as an immersive 3D space created beautifully to represent your brand. Your products in 3D, your people in their 3D avatars and a Metasite which actually leaves people wondering if they visited your office or your website.
Metaverse for Social Media
Imagine leveraging AR platforms of FB, Insta, Snap and Tiktok in a way consumers can have capsules if immersive brand experiences on an episodic basis.
Metaverse as mentioned earlier is in its early stages of adoption. One challenge we foresee is content creation and talent.
Since, it is still early days – brands who invest in Metaverse will be able to learn fast and gain the first-mover advantage.
There is no ready reference for ROI- but it’s expected to definitely create buzz around the brand.
There is no question about whether this is the future. We just need to learn fast, adapt and find our space in the Metaverse.