As the world moves to Web 3.0, the metaverse has become a hot topic. And it's no wonder why - the metaverse market is projected to be worth over $1.5 trillion by 2029. This opens up new revenue streams that brands haven't seen before, and a chance to interact wtih customers in the coveted under 34 demographics that advertisers value greatly.
Companies are jumping on the opportunity to be some of the first to promote their brands through a new medium of communication. But with this new unexplored virtual world, the question that you may be asking is "What is the best way to promote our brand in the metaverse?" In this paper, we look at emerging virtual merchandise opportunities and best practices for engaging in the metaverse.
In this position paper, industry experts discuss:
- Why brands should take advantage of digital marketing opportunities with the gaming industry
- How artists are already using platforms like Fortnite to hold virtual events, resulting in profits of over $20 million for performing for 10 minutes
- What methods brands will be able to interact with customers in the virtual world, from esports to fashion merchandising to real estate