It’s the season of the metaverse at this point. Companies are switching their focus as they hope to be the first mover into this billion-dollar industry, and it is interesting to see.
While cryptocurrencies and other exciting concepts have remained popular over the past few years, it is beginning to look like the metaverse is the latest frontier.
For now, no one even knows what the metaverse is. There have been theories about it and how it will operate, as well as whether brands will be able to connect their metaverses for an even more immersive experience or they’ll simply choose to do things on their own. However, what everyone seems to understand is that this is perhaps the most advanced virtual reality (VR) play ever.
There is no doubt that virtual reality is the basis of the metaverse. People will get the opportunity to engage themselves and their environment, interacting with everything around them in a new world that is freer and much more exciting.
But, the metaverse isn’t just a glorified VR play. While the VR aspect will undoubtedly be important, it is worth noting that the metaverse isn’t just about VR. There's a reason many of the most popular brands in the world are trooping to the metaverse, and VR isn’t necessarily the whole story.
Entertainment and storytelling
One of the metaverse functions that are already getting applied is for entertainment. At its core, the metaverse is about bringing people together and allowing them to share fun experiences. It is all about the ability to share in more immersive experiences than can be found in the physical world. Anyone can be who they want to be and do what they’d like to.
Just like it is in the physical world, entertainment can also be optimized in the metaverse. Back in November, Grammy Award-winning singer Justin Bieber announced that he would organize Justin Bieber — An Interactive Virtual Experience - a live concert, thanks to a partnership with Wave.
Using Wave’s technology, audiences were able to interact with Bieber, singing with him and even joining him on stage for some performances. The event served as a precursor for what entertainment in the multiverse could really look like. People can have fun with their favourite artists, as well as each other.
This presents an opportunity for anyone in the entertainment space. You can organize concerts and invite people, allowing you all to have fun. With the world still moving cautiously out of the coronavirus pandemic, many people still have issues with large gatherings. This is made worse by fears of a new Omicron variant of the virus, which is already raising eyebrows.
Going forward, entertainment within the metaverse will be a huge deal. It will be interesting to see the brands that manage to do something with this and how their tactics evolve over time.
The gaming industry has long been looking for something to make it better. Over the past few years, it has become more obvious that the world needs something better than the usual playing mode of one-versus-one.
Then, multiplayer online games came along. These games completely turned the industry on its head with their stunning world-building and storytelling capabilities. Suddenly, it seemed like there is a new direction for games to go.
The metaverse is another interesting development that could shake up the gaming industry. These days, gaming companies are looking to become more established entertainment brands. We’ve seen Travis Scott handle a concert within Fortnite, while many other artists are using these games to reach out to their fans in different ways.
Even the games that just want to focus on gameplay can still enjoy the metaverse’s benefits. Axes Metaverse, a battle royale game developed by Azur Games, offers one of the sleekest stories and gameplay opportunities, as well as a chance for players to earn an actual living. It’s a win-win for everyone.
The Axes Metaverse offers a broad range of benefits, including but not limited to an expansive environment where players will be able to trade and sell their assets for real money. So, besides just enjoying your gameplay, you also get to earn money. Combine this with the game’s awesome storytelling, and you’ll find an attractive and intriguing game powered by the metaverse.
With the metaverse, games get to become better very fast. They can attract different types of players - those who are interested in actually playing, those who just want to explore, and those looking for the additional entertainment value in the games themselves. Everyone is welcome, and everyone can play.
Brands could also use the metaverse to show off some of their new products before they actually launch. Think of it as an advanced screening - or a showroom.
Recently, Nike launched Nikeland - its own metaverse on Roblox. The metaverse allows participants to come in, enjoy awesome experiences, and try out sports-themed content. So, you can play sports with your friends or explore the metaverse together.
Soon enough, Nike will be able to integrate its products into Nikeland. So, when the company wants to launch a new pair of shoes, it could send them to Nikeland to see how people like them. Once a participant tests them out, they could decide to get the shoes in real life.
A marketing opportunity
The metaverse could also be the next frontier for marketing. The trick is simple - once a metaverse becomes large enough that it attracts people, brands can approach its developers to place targeted ads there.
These ads don’t necessarily need to be intrusive. All they need is to be placed strategically so people in the metaverse can interact with them if they want to. Like that, brands get more visibility and can attract more customers.
Of course, this is another area where it will be interesting to see how brands pull it off. There is a discussion to be had about how ads would be targeted and what marketing companies can do to ensure that they get maximum visibility for their ads. However, there is definitely an opportunity here for everyone.