Advertisements are a part and parcel of our daily lives and there’s no way to escape them. From our daily newspapers, radio, television, social media, and the internet in general, we are surrounded by commercials. When JP Morgan released a report declaring that the Metaverse is a $1 trillion opportunity, every missed reading the part where they said that marketing ”is potentially one of the biggest segments of the meta-economy.”
When millions of users enter the Metaverse, there would be no surprise when brands follow them for advertising purposes. Social media marketing strategies could quickly turn to Metaverse marketing strategies when the technology hits mainstream. Brands could make the most out of the development as users can’t ignore billboards in the virtual space.
“Advertising has always followed eyeballs and as we see the numbers of people spending time in Metaverses. It will quickly become a channel advertiser will look to include in their strategies,” said Ben Putley, CEO of Alkimi Exchange to CoinTelegraph.
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Matthew Larby, the co-founder of Realm stated that advertisers are upset with social media marketing as data is mostly inaccurate. However, he revealed that advertising in the Metaverse could provide transparency for every dollar spent.
“Advertising is a fundamental part of most existing social applications. But the deal’s been pretty bad for both the person who creates the data and the advertiser who struggles to verify their spend,” he said.
In conclusion, as technology progresses, marketing strategies go in tandem with it creating commercials of a different kind. You never know, the next Super Bowl commercial could be in the Metaverse and we’d all go gaga over it.
What is Metaverse?
For the uninitiated, it is a virtual reality space (alternative to reality) where people will spend their time in. It is touted to be equal to the real world but in a virtual setting. After the internet, Metaverse will be the next big thing and could be a massive adaptation in the coming years.
At present, a lot of tech giants have announced investing in Metaverse and they include Microsoft, Nike, Adidas, Victoria’s Secret among many others. Also, there’s a new company announcing an ‘investment in the Metaverse’ almost every week.