Metaverse Marketing. Tips To Start

The Metaverse is growing and Metaverse marketing is right behind it. Why? You already have Facebook, Adidas, and Nike. Fornite and Roblox make it easy to play and interact with friends. Fortnite even hosts concerts. People also spend on these platforms.

The usual stats?

The Metaverse market is projected to reach a value of US$74.4bn in 2024
This market is expected to grow at an annual growth rate of 37.73%, resulting in a projected market volume of US$507.8bn by 2030
The metaverse has more than 400 million active users every month
Virtual art galleries now have a market worth of $2.4 billion, and are still expected to grow

Driving the Metaverse marketing effort is:

Blockchain plays a pivotal role in facilitating transactions within the metaverse. Operating as a network of interconnected computers, it establishes a shared database where altering a record becomes highly challenging. The blockchain network diligently ensures the uniformity of all database copies through continuous verification.

Within the metaverse, non-fungible tokens (NFTs) emerge as a transformative virtual asset, contributing significantly to its expansion. NFTs represent intangible digital items, ranging from images and videos to in-game objects. In the metaverse, users can engage in transactions involving the purchase, sale, or upgrade of virtual assets like homes, weapons, and skins within the virtual space. The blockchain serves as a ledger, recording NFT ownership, thereby enabling the trade of the digital assets they embody. Some view these NFTs as cultural collectibles, while others perceive them as valuable investments.

If you are a company selling physical items then you can get people into the brand/ show off the brand by selling and promoting virtually as a "side door marketing" approach- which can be quite effective.

7 ways to start your Metaverse marketing journey

1- Virtual Events and Experiences

Host virtual events, conferences, or product launches within the metaverse. Platforms like Decentraland (a virtual world and a blockchain-based platform that allows users to buy, develop, and sell virtual real estate. Numerous brands have established a presence within Decentraland, hosting events, creating virtual spaces, and engaging with the community- it has now grown to everything virtual), Roblox, and VRChat offer immersive spaces for users to gather. Create interactive and engaging experiences that allow users to explore your brand in a virtual environment. This can include virtual showrooms, product demonstrations, or even virtual reality (VR) experiences.

2. Branded Virtual Spaces

Invest in creating branded virtual spaces within popular metaverse platforms. This could be a dedicated area showcasing your products or services. Customize the space to align with your brand identity and values. Offer virtual experiences that encourage users to spend time in your space, fostering a sense of connection with your brand.

3. NFTs (Non-Fungible Tokens)

Explore the use of NFTs to represent digital assets or limited edition virtual items associated with your brand. NFTs can be used for exclusive virtual merchandise, digital art, or even access to special events. This can create a unique and collectible aspect to your brand within the metaverse. While not a traditional brand, Beeple, a digital artist and creator of NFTs, gained significant recognition through the sale of his digital art pieces as NFTs. This highlights the growing intersection of digital artists and the metaverse through NFT platforms.

4. Social Media Engagement

Extend your social media presence into the metaverse by creating accounts or spaces within metaverse platforms. Engage with users through interactive content, discussions, and community-building activities. Leverage the social aspects of the metaverse to connect with your audience on a more personal level.

5. In-Game Advertising

Partner with popular metaverse games to incorporate in-game advertising for your brand. This could involve branded items, sponsored events, or in-game promotions. Ensure that your advertising aligns with the gaming experience and adds value to the user rather than being intrusive. Authentic integration can enhance the user experience and positively impact brand perception.

6. Collaborations and Partnerships

Explore collaborations with influencers, content creators, or other brands within the metaverse. Partnerships can help amplify your reach and tap into existing communities. Engage in joint ventures to create unique virtual experiences, events, or products that blend the strengths of multiple brands, making it mutually beneficial for both parties.

7. Educational Content and Workshops

Position your brand as an authority within the metaverse by offering educational content and workshops. This could include tutorials, webinars, or immersive learning experiences related to your industry or products. Provide valuable information that helps users navigate and make the most of the metaverse, establishing your brand as a resource and building trust with the community.

Most of these are simply what we are doing already (like online seminars), but if our audience is there, then going deeper into the Metaverse is probably a good idea. Look at Decentraland and their events: