Metaverse could change our lives

There are countless ways the metaverse may affect how we live, work and play – but with the future still unwritten, how should marketers plan for it?

31 March 2023

Brands are already taking advantage of the immersive experiences possible in the metaverse to take marketing campaigns to new levels of interactivity. And beyond the obvious potential in the fields of gaming and entertainment, these emerging technologies could revolutionise nearly all aspects of our lives in the future. "The metaverse has the power to transcend time and space," explains Carrie Timms, director, global business marketing EMEA at Meta. "For high-school students, it could mean putting on a VR headset and walking through the streets of ancient Rome instead of reading about it in a textbook. For aid workers, it could mean learning new surgical techniques from leading practitioners based halfway around the world." Rather than just a place, or a particular platform, the metaverse is an idea: a new way to engage with the world. Emerging technologies could change many of our daily interactions, augmenting and enhancing our lives as the boundaries blur between the digital and real worlds. In our marketing in the metaverse series so far, we've investigated how brands as varied as Nike, Nissan, Sony Music and McDonald's are engaging with the metaverse as it is now, and what its growth could mean. Here, we conclude with a focus on how these emerging technologies could influence all aspects of our lives, and how marketers can lay the groundwork for future opportunities.

Sponsored by Meta

In its current form, the metaverse exists in a fragmented way. In the future, a truly collaborative, decentralised approach could revolutionise the experience for consumers. Platforms such as Decentraland and The Sandbox are already built on blockchain technology, and wider interoperability could be the next stage of the metaverse's evolution. In theory, we could 'travel' around the metaverse as easily as clicking a hyperlink to move between web pages on different servers. "Imagine a series of independent worlds, knitted together to form one universe that you can seamlessly traverse," explains Nick Pringle, SVP executive creative director at global digital innovation and marketing agency R/GA. Objects stored on the blockchain as NFTs – such as branded merchandise, or custom avatars – could come with us, rendered in different ways to suit their context. "We like to think of platforms like cities, rather than the world itself," says Matthieu Nouzareth, US CEO of The Sandbox. As part of a long-running partnership with Snoop Dogg, in 2022 The Sandbox released the Doggies, a sold-out collection of 10,000 custom avatars. Nouzareth believes digital assets like these should be free to migrate to other metaverse worlds. From a marketing perspective, the growing use of crypto wallets for everyday interactions could rewrite the consumer journey entirely. With transaction histories and digital purchases logged, the potential for ultra-targeted customer acquisition for brands could be huge.

A seamless digital universe

More authentic virtual socialising

Learn more about business opportunities in the metaverse here.

— Aaron Hoffman, Meta

"There will be risks and challenges, many of which can be anticipated."

MARKETING IN THE METAVERSE

If virtual-world interactions become commonplace across the board, it follows that immersive relationships with brands in the metaverse will feel more natural to consumers too. So, it pays for marketers to track such trends carefully. The Web 2.0 era saw the birth of the social networks, and as we begin the transition from that primarily 2D ecosystem into a more 3D, interconnected 'Web3' world, we'll see another step-change in the role of the internet in our social lives. To stay relevant, brands must be prepared to be part of that conversation. "Unlike other messaging platforms and social media, the metaverse gives users a much deeper level of engagement – almost like in-person communication," says Deakin. And when physically being somewhere isn't possible, the ability to replicate a similar experience virtually could be where it gets exciting – for both work and play. "Imagine attending a client dinner in Tokyo, or a concert with your best friend in New York – all while sitting in your living room in London," concludes Meta's Carrie Timms. "The metaverse is ultimately about enriching those real-life experiences, not replacing them."■

Above and top: Nissan developed a Meta Quest 2 experience to familiarise electric car buyers with its Ariya model

Remote working that works better

Lockdown forced the widespread use of video meetings onto the working population – but the metaverse could become the natural successor for such interactions over the next decade. "We did video conferencing because we had to, but no-one stopped to ask if it's a decent replacement," points out Pringle. "You can see a nodding head, but you can't read body language. If you have presence, it's a much better experience." Pringle suggests there'll be a tipping point where business meetings in the metaverse overtake the likes of Zoom or Teams. "It's a way away, but if you're under 10 now, by the time you hit the workforce virtual meetings will be the norm," he predicts. Companies such as Microsoft, Meta and Accenture are already using the metaverse as an onboarding tool for new employees. And in situations where remote-working teams in far-flung locations may rarely, if ever, meet face-to-face, virtual interaction could help bridge physical divides and build closer connections compared to a standard video conversation. "Managers can meet employees as avatars in a virtual workspace, so they retain a more in-person kind of interaction," explains Wayne Deakin, global principal at Wolff Olins. "There's also huge potential to blend physical and virtual training, unlocking new ways of collaborating and relationship building."