What is the Metaverse: What Marketers Need to Know?

A universe inside a universe is called a metaverse. Within the VR world, it describes a virtual environment that allows exploration, social interaction, and the creation of different looks, lives, and realities. Although any virtual environment can be referred to as a metaverse, because of the name of the corporation that owns it, the term “metaverse” is frequently used to refer to all virtual reality environments, or Meta’s Horizon Worlds , Metaverse marketing

Purpose of the metaverse:

The metaverse is a virtual environment intended to allow people from all over the world to interact and accomplish nearly whatever they could achieve in real life and beyond.

Connectivity: It offers a smooth means of communication and collaboration between individuals, irrespective of where they live. Virtual social interactions, workplaces, entertainment, education, and other domains are all encompassed by this interconnectedness.

Immersive Experiences: Compared to conventional internet platforms, the metaverse delivers immersive experiences that may be more participatory and captivating. In addition to exploring virtual worlds, users can take part in simulations and games, attend events, and watch media in novel ways.

Creativity and Expression: Users can construct and personalize their virtual environments, produce digital art and media, and express themselves in novel ways using the metaverse as a canvas.

Metaverse Statistics Marketers Should Know:

By 2030, the value of the metaverse is projected to reach $678.8 billion.

With 230 million Roblox users, 165 million Minecraft users, and 85 million Fortnite players, the metaverse has over 400 million monthly active users.

Adult internet users that are interested in accessing the metaverse are 36%.

By 2026, a quarter of the population will visit the metaverse for at least an hour each day.

North America accounts for 32 percent of the metaverse market’s growth.

The metaverse is viewed as an extension of reality by 67% of its users.

67% of those who have ever entered the metaverse possess virtual goods, 54% own virtual money, and 44% own real estate.

The metaverse, according to 36% of consumers, is where technology is headed.

Promoting or Accepting Metaverse Content:

Brands can pay creators, events, games, experiences, stores, galleries, and other entities to have their products, logos, or NFTs promoted or featured. This may be more difficult and perhaps riskier in decentralized metaverses.

Finding NFT land owners that have a history of advertising could be a good place to start. This can be done both online and in virtual reality. During my investigation for this article, I came across NFT Plazas as one company.

The company states that it owns NFT real estate and plazas where a lot of avatars congregate. It also promises to reflect advertisements, QR codes, or unique digital experiences onto its buildings or plaza signage.