Metaverse Marketing: The Ultimate Guide

Metaverse is one of the top 5 emerging technologies of 2023. It combines the internet, virtual reality, and blockchain, allowing access across different platforms such as VR, AR, PCs, mobile devices, and gaming consoles.

The term "metaverse" has been around for a long time, but it has only recently started to gain popularity. In 2021, social media mentions of virtual universes exceeded 84,000.

In 2020, the virtual universe market was valued at $478.7 billion. It is now expected to reach $800 billion by 2024.

Since the outbreak of COVID-19, consumer and business interest in the virtual universe has surged. The pandemic has accelerated the adoption of metaverse technologies.

Marketing in the metaverse era will be more innovative and include individual content creators, similar to influencer marketing.

Metaverse marketing will engage consumers through virtual, augmented, and mixed reality.

In this metaverse marketing guide, I will share top metaverse marketing strategies to help your brand get closer to target consumers.

Let's get started!

What is the virtual universe? Why should you care?

"Next generation of the internet?" and "Changing traditional views of digital technology" are key phrases in today's virtual world. Here is a detailed overview of the characteristics of the metaverse to help you understand how it offers fresh online experiences.

The meaning of the term "metaverse."

The term "metaverse" first appeared in Neal Stephenson's science fiction novel "Snow Crash." Now, it refers to a digital world that enables virtual user interactions through integrated features of social media, online gaming, augmented reality, virtual reality, and cryptocurrency. Essentially, it is a network of 3D virtual environments designed to facilitate social interaction.

The Metaverse is a 3D social media platform where people can do anything they can do in real life. It is a vast virtual environment where new types of interactions and new B2C and B2B businesses become possible. People will be able to create, sell, own, and invest in 3D virtual environments within the virtual universe.

Just as the internet is essential for everyone, the virtual universe will become an important part of online business, as companies will be able to trade products and services through the virtual universe.

Moreover, it is expected that the virtual world will create 10,000 jobs in the next five years.

How did the metaverse suddenly become popular?

After Facebook rebranded to Meta, the focus on the metaverse became clear. The goal is to develop an environment where individuals can socialize, conduct business, and enjoy immersive entertainment.

Emerging trends are influencing various fields of culture, entertainment, and marketing. Business owners are particularly interested in Meta for this reason. Let's not forget that Roblox and Fortnite are two excellent examples of incredibly immersive online experiences.

Thanks to augmented reality and virtual reality technologies, the Metaverse is expected to continue evolving in the gaming sector, becoming a $400 billion business by 2025.

Here are the unique aspects of the Metaverse:

1. Value-based experiences

The continuous improvement of computing power has allowed for larger virtual worlds to exist. The infrastructure components of the virtual universe include cloud computing, 5G, and WiFi. Thanks to a solid infrastructure, all users in the virtual universe can enjoy seamless, value-based experiences.

2. Real people as digital avatars

Today, most people actively embrace virtual reality, allowing for various virtual adventures. The ideology of having real people as digital avatars combines key elements of video games and the virtual universe. It involves an interoperable 3D world where players can use avatars to participate and interact. In the virtual universe, players find themselves feeling at home.

3. Virtual real estate

Virtual land is digital property that exists on the blockchain. Owning virtual property is advantageous because you can rent it out to others, open stores there, or host online events. In terms of traffic and popularity, sales of virtual land have already reached millions of dollars. The metaverse land model is reshaping the NFT market and industry.

4. NFTs

Non-fungible tokens. Digital assets purchased in the metaverse can actually be considered owned by internet users and metaverse users. By utilizing NFTs, a person can manage, trade, store, and use a part of the internet as their own network. Digital assets include artwork, logos, photos, game items, or tokens. With NFTs, you can avoid duplication and gain a unique identifier.

5. Creator economy

A key feature that distinguishes the metaverse from the internet is the ability to control user freedom. Additionally, employees or students can remotely share learning and working spaces, concentrating different experiences in one location. It proves its value for the future.

Virtual Universe Marketing

The virtual universe market is booming, with an annual growth rate of up to 13.1%. Tech giant Facebook has invested $10 billion in the virtual universe.

Current trends in the virtual world are sure to impact business and marketing. Virtual reality is evolving from cutting-edge technology to a real-world business environment.

Partnerships are crucial for successful marketing efforts. Compared to brand advertising in the real world, almost all marketing activities in the virtual universe rely more on networks and performance data, given that anything in the virtual universe can be clicked.

However, marketing in the virtual universe also has its drawbacks, and marketers or businesses may find it challenging, such as expensive technology and areas without internet access. As the virtual universe evolves, future technologies may incorporate many other features in the coming days.

Top Metaverse Marketing Strategies

Metaverse Advertising

The metaverse is a virtual space that utilizes the latest technologies like AR and VR to create immersive 3D environments that blend the real world with virtual reality. This is a hot topic in today's digital world; most people say Meta is the new successor to the current internet and a milestone in creating interactive digital experiences for users.

The metaverse is currently creating different possibilities. It has become a powerful platform for gaming, entertainment, socializing, and creative pursuits. Examples of the Metaverse include Fortnite, Axie Infinity, and Roblox.

The metaverse has already become very helpful for today's businesses. Here are some ways companies can use virtual spaces to promote their products and services:

• Advertising: This is more about real-world advertising, such as the use of billboards, signage, and posters. Brands like Grand Theft Auto and NBA2K have been promoting other brands within their games.
• Experience embedding: Gucci collaborated with Roblox to launch a Gucci-themed world in the brand's virtual universe. Through this collaboration, Gucci consumers can purchase Gucci products like handbags and belts while playing video games.
• Product placement: Businesses can use the Metaverse to place products that fit the target audience's experience. For example, the collaboration between Hasbro and Roblox helped the company bring Nerf guns into the virtual world.
• Event hosting: Famous hip-hop star Travis Scott collaborated with Epic Games to host a concert for Fortnite users. Over 12 million users attended the event.

Self-owned Metaverse: Businesses can also create unique Metaverse experiences that connect more with customers.

Non-fungible tokens (NFTs): Businesses can explore digital products in the metaverse using cryptocurrency. For example, Nike is about to launch virtually designed sneakers for its customers.

Brand Promotion in the Virtual World

Brands can leverage the metaverse for marketing in the following ways:

NFTs and the Metaverse

NFTs are one of the strategies most businesses use. NFTs are units of data that can exist as files such as audio, video, or photos. The file is unique, meaning no other file is exactly the same. Therefore, NFTs are typically stored in digital ledgers or blockchains. When demand increases, the value of NFTs rises.

You can promote your business in the metaverse by developing NFTs. The Metaverse allows you to promote both your NFTs and your business simultaneously. As your brand becomes popular, the value of your NFTs will also increase.

Interactive Live Events

Individuals and businesses can use large interactive live events (MILES) to bring people together in real-time and virtually. For example, Dua Lipa was able to attend a fashion show in a virtual form.

Similarly, The Weekend was able to perform on TikTok using a digital avatar to millions of viewers. This happened after live concerts were banned during the pandemic. Nowadays, most live events are conducted through MILES. Businesses can now use MILES to attract as many people as possible to virtual events.

SEO and the Metaverse

Similarly, companies are applying SEO to search engines like YouTube, Google, and Bing. The same approach should be adopted in the virtual universe. For example, you can optimize your content using the most relevant keywords to attract your target audience in organic search results.

Here are some strategies for metaverse SEO:

• Local SEO: If you are considering opening a small business or local restaurant, you can achieve this through Google. Google can create 3D experiences from local listings using augmented reality and virtual reality.
• AR content: You can engage with your audience more deeply through the different benefits of the virtual universe. For example, if you are in the travel business, you can create virtual tours that guide viewers through various hotels and tourist destinations in other cities. This way, your customers can choose where they want to visit during their travels. You can also freely experiment with different types of content.
• Social media: Social media is also evolving with the changes in the Metaverse, and brands like Facebook are now seeing the future of the Metaverse. The company will invest in the social media metaverse through partnerships with other brands like Oculus.

Social Media and the Metaverse

Most people know that the virtual universe is the internet. The uniqueness of this internet lies in its ability to allow users to consume 3D content through screens. Users can also experience the series through virtual reality.

For example, as a Metaverse user, you can walk into a shopping mall and purchase items from popular brands like Gucci and Adidas from the comfort of your home. You can buy products from any brand that has established influence in the virtual universe.

New virtual universes are constantly emerging, providing users with new opportunities to enjoy technology. For instance, there are currently four different virtual worlds: Somnium, Sandbox, CryptoVoxels, and Decentraland. Sandbox is one of the largest metaverse platforms, with over 500,000 active users.

With increasing traffic, the metaverse has now become a gold rush. Given the growing use of metaverse platforms, businesses are making significant investments in the metaverse.

Today, with the emergence of digital brokers and digital real estate agents, the metaverse is creating a new industry. Marketers now have unique opportunities to showcase their brands and attract large audiences.

Most companies are exploring new technologies to market their brands, such as digital billboards and virtual towns.

Some of the top virtual universe platforms that are sure to replace social media in the future include:

Roblox: This platform is available on Xbox, Android, and iOS. Users can create, decorate, and name their digital characters to design specific games.

Axis Infinity: This type of cryptocurrency is placed to earn profits. Players can collect and create pets with unique axes in blockchain games.

Sandbox: This is a virtual transformation where users and players can experience their virtual experiences, homes, and offices.

Decentraland: This is a decentralized cryptocurrency technology, meaning no one controls the activities conducted through it.

Cryptovoxels: This Ethereum metaverse platform offers a virtual gaming world that supports VR experiences and PC availability.

Content Marketing and the Metaverse

The metaverse will exist for a long time; it will not disappear quickly. The virtual universe is expected to revolutionize the way marketing is done and how brands interact with target audiences. You can use content marketing in the metaverse in various ways to promote your brand on social media.

Share quality content: Even in the virtual world, content is still king in marketing. What you do in the metaverse should be interesting enough for your target audience—it should capture their attention. You can consider brand games or clothing lines, for example.

Create new loyalty programs: You can reward customers through digital experiences (like VIP access to live events) instead of offering points with plastic cards. You can also reward them with exclusive and early access to digital goods, such as designer handbags.

Advertising: Metaverse billboards are likely to replace social media marketing. They can be seen as avatars entering different parts of the digital world. When using advertising display locations, businesses should stay ahead.

When using the Metaverse for content marketing, your content must be more creative.

Here are some simple ways you can create content for the virtual universe.

Convert Web 2.0 content to Web 3.0: You can achieve this by minting existing digital assets as NFTs. You can easily create some digital assets as NFTs, including photography, blog posts, digital images, and videos. It can easily track the ownership of the assets.

Apply new content formats: As the Metaverse continues to improve, new content formats that were previously impractical will emerge. One type of content will be presented in the form of interactive 3D environments and 3D virtual tours. You can create a virtual library using virtual books that contain your best e-books and blog posts, with their form representing actual books rather than flat websites or blog posts. You can also integrate most videos into virtual screens that look like ordinary TVs in a living room.

Metaverse live streaming: You can use Miles to connect and host sports events, concerts, and other types of live performances on your Metaverse platform.

Video Production and the Metaverse

When marketing your brand using the Metaverse, you need to pay attention to the types of videos you use. 2D videos are not sufficient for your virtual universe strategy. To create high-quality 3D videos, you should use unique HD cameras to capture them in 3D form. This is crucial for leveraging virtual reality to create unique and more immersive video content.

You can use the latest video applications to gain insights into how 3D videos work. Use custom cameras to capture 3D images and broadcast them in live virtual presentations held in the space.

Only a few companies have the facilities to provide internal experiences for their clients and can create holograms and volumetric videos. If your business is just getting into the metaverse and wants to create this experience for your target audience, it is essential to collaborate with video production services.

Influencer Marketing and the Metaverse

Influencer marketing is one of the ways to showcase your brand to a larger audience and increase sales. Today, the most popular influencers in the real world can be found on social media. The metaverse is like social media, allowing people to become digital versions of themselves.

In countries like China, metaverse users use motion capture and 3D technology to create virtual selves and become digital influencers. Some users even become virtual idols and digital avatars with a considerable fan base and followers. However, most influencers in the virtual universe are computer-generated.

Digital avatars are AI avatars that can learn from the information provided to them by developers and users using natural language processing (NLP) algorithms. As the virtual world continues to develop and grow, it will take time for virtual avatars to influence the virtual world.

You can also promote your business in the virtual universe using virtual influencers. Some brands using this strategy include Hugo Boss, which hired Nobody Sausage to promote its products through the hashtag #BeYourOwnBoss.

Disney also plans to leverage the popularity of Minnie Mouse to promote its AR theme park.

If you are looking for inspiration on how to use virtual influencers to promote your brand, you can use virtual characters. The advantage of this method is that it uses the same influencers you use in social media marketing.

Today, virtual avatars promote different brands in the virtual world. Their uniqueness lies in the fact that what they do is likely scripted by their creators.

Let's take a look at some top virtual avatars or metaverse influencers you can use to market your brand:

1. Lil Miquela

2. Kyra

3. Shudu

Comprehensive Metaverse Marketing Agency Services

Metaverse marketing agencies help you build your brand presence in virtual spaces. You can create your own influencers or collaborate with existing metaverse influencers to promote your products or services.

Chainpeak is a leading metaverse marketing agency that offers SEO, social media marketing, paid media marketing, influencer promotion, and video production services to enhance your brand image.

Share your marketing campaign expectations and budget with us, and we will respond with a customized strategy to help you achieve your business goals.

Final Thoughts

As of January 9, 2021, the total global financing for companies in the metaverse (Web 3.0 and NFTs) was $6.594 billion. This figure is expected to rise in 2024 and beyond.

Metaverse marketing is one of the marketing methods your business cannot afford to miss. The sooner you establish a virtual space in the virtual world, the better it will be for your business. Partner with ChainPeak to launch your metaverse marketing and elevate your brand to new heights.