FUTURE SERIES: Demystifying the Metaverse for Marketers

We were delighted to host a conversation with Emma Chiu, Aileen Carville,  Viv Chambers  and Amar Jacobs at our recent event and we held a lively discussion about the core themes of Metaverse.

Here are the 5 Key Take-Outs:

1. The Metaverse is already here - “There will be no clean Before Metaverse and After Metaverse” Matthew Ball, Venture capitalist. This is not a fleeting trend that can be ignored, it needs to be at the core of your business and brand strategy.
    
2. The metaverse is promising- 74% think the metaverse is the future and 66% believe it will be life changing. Therefore providing real growth opportunities for businesses and brands. Also it is a trillion dollar opportunity!
    
3. Digital possessions - A new type of ownership is ushering in the next era of virtual lifestyles and digital consumption. On average consumers would be willing to pay 9000 + for digital art.
    
4. NFTs need utility – With the success of the Brennan’s NFT  campaign, we saw that the audience want to be part of this movement but in order to drive further brand connections, there is a need to connect the Virtual world with Reality in order to drive product usage.
    
5. Brand Safety - Brands are trademarking their territory in the metaverse, in a first pass at establishing brand and user guardrails. Even as first step, you should be taking action for your brand so you can avail of the potential opportunities that lie ahead.