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The Metaverse Saga

Everything Marketers Need To Know And Prepare For

In a lot of ways, the Metaverse feels like the arrival of social media during 2008-2009. This was a time when businesses were starting to understand the power and influence of this new tool. The situation is similar now. Many marketers, as well as brands, are seeing Metaverse in the same light and contemplating the potential it holds for the marketing industry.

It has been dubbed as Web 3.0. Web 1.0 defines the initial days of the internet when its only function was to connect people with information. This is how businesses went online and the trend of online business cards began. Web 2.0 is where when it all became popular and a part of everyone’s life – the time of today.

With Web 2.0, it is about brands creating communities, connecting with their audiences, and fostering groups and relationships. However, such platforms collect data and use that to make money. This is where communities end up being rented land.

But Web 3.0 is all about rising from social media and establishing a community with your own space. In other words, it will be digital ownership of digital assets. Web 3.0 is one part of  Metaverse that will allow people to connect with places as well as things. Therefore, with Metaverse you can own a retail store as well as get leads via the mobile web using virtual/augmented reality. This is great for small businesses as well as established brands.

Metaverse is way more than just Web 3.0. We think of it as a personal connection inside cyberspace, digital currency, blockchains, virtual reality, NFTs, and augmented reality, rather than just building a community on anyone’s social media site. It is the convergence of the physical world. This will also allow marketers to enter and experience it.

One cannot predict everything that will come with the Metaverse after it becomes mainstream. But, it is going to have a major impact on every business. Thus, it is essential for every business to have better marketing practices and marketers need to build new strategies for success in the future.

Here are some of the things that one needs to keep in mind in Metaverse world:

  • Is it necessary for you and your brand to build the virtual world?
  • Is it important to go for sponsoring in a virtual world?
  • What sort of intellectual property has your company held that you can use as an NFT?
  • Is it important to build a Metaverse team? If yes, what should it look like?

Some of these questions might seem far-fetched, but one should keep in mind that when social media came into the picture around 2009 and even till 2012, a lot of businesses were surviving with a manager. However, building a team and discussing marketing strategies was something that only big companies or brands were into. One can get ahead of everything by thinking about Metaverse’s goals and what they will be working towards.

Is Facebook going to own the Metaverse? 

One cannot talk about Metaverse without thinking about the future of Facebook, which has rebuilt itself as Meta. This has solidified the brand’s position to be a leader and bring Metaverse to all. However, it is early to tell what the future of Metaverse is and of Facebook. Every other company and even Facebook is trying to plant a flag in some parts of the Metaverse.

One cannot say that Facebook is a strong player when we talk about the major parts of the Metaverse. Due to its decentralized notion, a single company cannot own the Metaverse. It should be built open for everyone.

For a company to own it, it needs to own the reality of that realm. The announcement of rebranding Facebook has introduced Metaverse to the public attention.

However, the aftermath is that people are paying serious attention to it now. With everyone talking about Metaverse and Facebook, it is going to come faster than predicted?

After understanding the basic meaning of Metaverse, it is now time for businesses to start preparing for it, and start learning all about it.

The best way to do it is by paying close attention to the gaming community. One can even start playing games like Roblox. In a lot of ways, Gen Z, as well as Gen Alpha, have a basic understanding of how digital reality connects to their physical reality as compared to other people. This is the reason when you get there and start indulging yourself in the game, you will be able to connect all the dots. One can also get into Discord as well as join a server. It can be overlooked, but Discord resembles an interface that is the same as Slack. However, the bots, as well as automation available for the user to augment the server, will be beneficial in connecting with various available features.

The in-the-know communities have been built on Discord. Thus, one has a chance to learn as well as connect before everything goes mainstream.

Hussam Abdulkhaleq is Account Manager at Cicero & Bernay Communication Consultancy, an independent PR agency headquartered in Dubai offering new-age public relations consultancy to the UAE and across the MENA region. |