As the metaverse continues to grow and evolve, businesses are noticing the potential for brands to interact with customers in new, advanced and innovative manner. Before that we want to grasp what metaverse is. Metaverse is a digital experience on the web which is similar to what we experience in real life but is not actually happening in the physical world. The metaverse is much more enchanting than video games because they include multiple senses like sight, sound, touch. It provides an innovative way to buy and play with others online. This case contributes to the process of how brands can enter the metaverse. Apart it’s covering what brands are currently doing to adapt these changes in external environment.
The technology has brought significant transformation within the means and mechanisms of doing business and day to day interaction with customer such as ecommerce. With post- covid hybrid or remote working environments, many of the creative virtual business experiences are likely to become even more relevant to how companies connect to their people and to their customers. Virtual showrooms, fashion shows, and dressing rooms suddenly have the potential to shift from fringe experimentation to mass adoption.
A handful of brands like Nike, Gucci, Disney are already shaping the landscape, with entertainment and gaming companies leading the way. Last summer, Louis Vuitton company launched the NFT (NonFungible Tokens) game “Louis: The Game” on the 200th anniversary of the founder’s birth, which attracted a lot of attention and reached number one on the list of free IOS games for a while. The character in the game was played by Vivienne, who resembled Louis Vuitton. As part of the game, players can travel to the world, where they explore the heritage of a fashion house and collect candles that serve as keys to access the next level. During the game, players come across various NFT works.
The commercial applications of the metaverse are even further heightened by the new behaviors that are surging around buying products and services directly from social experiences, also known as “social commerce.” Social commerce is becoming a larger percentage of U.S. e-commerce over time and is projected to be $1.06 trillion in 2022 alone, following growth patterns like those in China.
How brands can innovate and grow using the Metaverse
- Digital products: Constant online interaction made people willingly accept the idea of having digital goods. Besides, the capabilities of 3D graphics have increased the possibility to get an accurate and holistic perception of things they’re buying.
- Enhanced consumer experience: The metaverse is the rich variety of tools that could complement the current product of a brand. Particularly, VR and AR technologies that literally provide real-life experiences.
- App integration: Convenience and time have been always winning commodities on the market. Therefore, integration within metaverse is paramount since it dodges the issue of switching from one app to another.
As the metaverse continues to grow and evolve, businesses are noticing the potential for brands to interact with customers in new, advanced and innovative manner. Before that we want to grasp what metaverse is. Metaverse is a digital experience on the web which is similar to what we experience in real life but is not actually happening in the physical world. The metaverse is much more enchanting than video games because they include multiple senses like sight, sound, touch. It provides an innovative way to buy and play with others online. This case contributes to the process of how brands can enter the metaverse. Apart it’s covering what brands are currently doing to adapt these changes in external environment.
The technology has brought significant transformation within the means and mechanisms of doing business and day to day interaction with customer such as ecommerce. With post- covid hybrid or remote working environments, many of the creative virtual business experiences are likely to become even more relevant to how companies connect to their people and to their customers. Virtual showrooms, fashion shows, and dressing rooms suddenly have the potential to shift from fringe experimentation to mass adoption.
A handful of brands like Nike, Gucci, Disney are already shaping the landscape, with entertainment and gaming companies leading the way. Last summer, Louis Vuitton company launched the NFT (NonFungible Tokens) game “Louis: The Game” on the 200th anniversary of the founder’s birth, which attracted a lot of attention and reached number one on the list of free IOS games for a while. The character in the game was played by Vivienne, who resembled Louis Vuitton. As part of the game, players can travel to the world, where they explore the heritage of a fashion house and collect candles that serve as keys to access the next level. During the game, players come across various NFT works.
The commercial applications of the metaverse are even further heightened by the new behaviors that are surging around buying products and services directly from social experiences, also known as “social commerce.” Social commerce is becoming a larger percentage of U.S. e-commerce over time and is projected to be $1.06 trillion in 2022 alone, following growth patterns like those in China.
How brands can innovate and grow using the Metaverse
- Digital products: Constant online interaction made people willingly accept the idea of having digital goods. Besides, the capabilities of 3D graphics have increased the possibility to get an accurate and holistic perception of things they’re buying.
- Enhanced consumer experience: The metaverse is the rich variety of tools that could complement the current product of a brand. Particularly, VR and AR technologies that literally provide real-life experiences.
- App integration: Convenience and time have been always winning commodities on the market. Therefore, integration within metaverse is paramount since it dodges the issue of switching from one app to another.
read more : Life in the Metaverse
