Metaverse and NFTs
It can be tough to keep up with all of the latest trends that digital marketing can go through, with new ideas and techniques coming fast and often. Two of the latest trends we have seen with increasing frequency are the ‘metaverse’ and non-fungible tokens (NFTs), aiming to engage new audiences and increase the scope of the digital marketing campaigns.
Digital Marketing and the Metaverse
The ‘metaverse’ is one of the biggest marketing buzzwords currently going around in 2022, especially following the decision by Mark Zuckerberg to rename Facebook to Meta. So what defines a metaverse? Well, a metaverse generally has these key characteristics: it’s always active, it exists in real-time, players have individual agency, it is a self-contained and fully-functioning universe, and it has a mix of different platforms and features user-generated content.
For marketing agencies, these metaverse locations can help consumers gain information, make purchase decisions and spend money, as well as gain a significant market share, with 65 million people expected to be using virtual reality and 110 million using augmented reality every month in 2023.
Early adopters of metaverse marketing include Gucci launching its ‘Gucci Garden’ in the Roblox gaming platform, allowing visitors to try on and buy digital Gucci products to dress their avatars, with the aim of raising its brand awareness amongst younger consumers.
Digital Marketing and NFTs
Non-fungible tokens, or NFTs, are also a new marketing trend that has burst onto the scene in recent years. NFTs are blockchain-based tokens that each represent a unique asset like a piece of art, digital content, or media. The person who holds an NFT can be thought of as having an irrevocable digital certificate of ownership and authenticity for a given asset, whether digital or physical.
So how is the marketing sector using NFTs? Brands are using NFTs to link owners to communities or being used as a digital badge. This can enable brands to build brand awareness, expand audience reach, protect its brand image, and promote in-person events.
A recent example of NFTs entering into the real world saw the AFL partner with Animoca Brands in a five-year deal to create the AFL Mint brand. The new brand will release official AFL-licensed NFTs showcasing iconic moments and players, with people able to collect, trade, win and earn these NFTs.
With the emergence of the metaverse and NFTs in recent years, the digital marketing world can seem too confronting and complex to enter into. Using Digital Marketing Directory, you will be able to find the right agency for your business to take advantage of these new trends entering the market.
