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Metaverse Advertising: the new digital world to explore!

4 min read
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Advertising initiatives go hand-in-hand with new media concepts and technologies. Digital avenues are expanding like never before with the support of artificial intelligence in all the devices that make our life easier. Making augmented and virtual reality more relatable, accessible and dynamic came in the concept of Metaverse.

Metaverse: Decoding the Terminology

It is the technology through which the audience is transported to a virtual environment that is identical to the real world. It uses a mix of  the following technological concepts to present a dynamic and immersive experience for the users. These technological concepts include:

  • Artificial intelligence: It is the technology through which the machines can solve problems and answer queries by using enormous data they are fed with. The machines are capable of doing tasks that are generally accomplished by living beings.
  • Augmented reality: Here the technology infuses the real environment with the technological information to give an enhanced experience for the users. Through the use of apps, software and other hardware such as AR glasses, the users get an integrated experience of both real-world environment and digital content. For instance: Google Maps AR.
  • Virtual reality: It is the technology through which the user can experience a completely new environment that has been generated virtually (through software). The user feel immersed in the computer-generated environment. To experience VR, the users need software and hardware such as headset and helmet.
  • Social media channels: They provide a platform to experience such technology and interact with like-minded people, friends and families through pages, posts, apps, chats etc. For ex: Facebook Metaverse.
  • Digital or crypto currency: It refers to currency that can be used digitally to make purchase. Digital currency can either be exchanged for other digital currency on the internet or can be converted into real world currency.

All these elements form the basis of Metaverse technology. The technological aspects mentioned above offer a wholesome digital environment to the users that can be accessed and experience like real-world experience. In Metaverse environment the users can shop, play, buy assets, interact, entertain and do other such things digitally that were only a thing of real world experiences.

Metaverse Advertising

Metaverse advertising refers to communicating with the audience in a virtual environments but giving them a whole new experience of the digital brand interaction and accessibility. The brands can create their own virtual environment and set the tone of their communication message to attract digital savvy audience especially the Gen Z and millenials.

The Metaverse advertising focuses on the following:

  • Building a bridge between the real and the virtual world.
  • Connect to the audience in a completely new set of environment giving them the opportunity to experience the brand in a new way.
  • Virtual event sponsorships, digital signages, influencer marketing, avatar creation and other advertising collateral can be infused in the Metaverse environment.
  • The brands will be accessible to people all around the world at a single platform through Metaverse as anyone can enter the Metaverse environment belonging to any age, religion, nationality etc.

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What are the rates of Metaverse advertising?

Metaverse advertising rates depends on the following factors:

  • Ad format: Banner, product placement, digital signage, social media posts, pre-roll ads, mid-roll ads, branding tags, promotional content etc. All the ad formats have different pricing.
  • Ad duration: The Metaverse ad rates primarily depend on the existence of the ad in the Metaverse environment. The more the number of days the higher will be the ad rates.

How can we book Metaverse ad?

Brands willing to advertise in the Metaverse can hire an advertising company like Myhoardings advertising agency to book ads in the Metaverse environment like Facebook Metaverse, Metaverse games, Metaverse events etc. The company will provide the best suitable package according to the needs of the brand and will formulate an advertising campaign that will aim at gaining high conversion and new audience engagement in the Metaverse environment.

How we benefit from a Metaverse ad?

The brands will benefit in the following ways through ads in the Metaverse environment:

  • Engage new audience that is digital savvy.
  • Convert digital interaction into real purchases.
  • Make the brand presence felt in the new digital environments through interactive experiences.
  • The brands can offer personalization of products and services through Metaverse interaction.

Is it too early to invest in Metaverse advertising?

Metaverse technology is in a nascent stage. It will be tough to say whether it is all win-win situation or a total loss. But nevertheless, it is fine enough to invest moderately and run an experiment to know its true worth in current digital scenario. Luxury brands like Gucci, Nike, gaming brands like Roblox & Fortnite and social networking website like Facebook have already take a plunge in the Metaverse advertising and promotional world.