4 Ways DOOH Will Break Open the Metaverse Ad Market in 2023
The writing is on the wall. From the Trade Desk’s push into in-game advertising to IAB’s decision to update its in-game measurement guidelines, the foundation of what will eventually become the metaverse advertising market was laid in 2022. Now, as we look ahead into 2023, what comes next?
Where Will the Latest Economic Slump Take Technology?
Are we on the cusp of the next technological revolution that will come to define our globalized planet in the next few decades or more? From the printing press to the telephone and the electric light bulb, to the television and personal computer, each of these paradigm-shifting inventions took hold during economic depressions or deep recessions.
Niantic Accelerates the Real-World Metaverse
One of the companies at the center of the shift to the metaverse is Niantic. Mostly associated with its breakout hit, Pokémon Go, it has evolved its business to be more of a developer platform for geo-local AR experiences. Known as Lightship, the platform is expressly built to enable the real-world metaverse.
Brands Test Both Luxury and Accessible Metaverse Marketing Campaigns
Luxury fashion brands like Gucci and sports retailers like Nike are selling digital versions of popular real-world products for thousands of dollars in the metaverse, and the fast-fashion retailer Forever 21 is selling products in Roblox that cost less than $1 each. The high/low approach is just one of many being tested by big name brands.
How Restaurant Chains Are Using NFTs in 2022
What was once an approach used primarily by fashion brands, like Gucci, Adidas, and Louis Vuitton, is now being adapted for the restaurant industry. Fast food giants like McDonald’s are using NFTs to energize their social media followers, while other restaurant chains are allowing investors to use NFTs to buy shares in brand franchise fees and adding virtual ordering and online delivery to their metaverse presence.
Opportunity In the Metaverse Isn’t Just About NFTs — It’s About Interactions
While there is certainly opportunity for brands to sell additional product in the metaverse—fashion retailers like Nike and Gucci are already working on developing pricing strategies for digital goods and services—branding experts believe the greatest long-term gains will be won through marketing approaches that focus on quality interactions and engagement.
How Will the Metavearth Materialize?
Back to the metaverse’s meaning, concrete definitions are elusive … mostly because they don’t exist yet. But broadly speaking, there are two metaverse tracks. One involves virtual and synchronous worlds. The other adds digital dimension and context to the physical world. Both will take years to materialize.
Live Commerce Guides Retailers to Success in the Metaverse
Immerss Co-Founder Patrick Jacobs says his company is working with a number of retailers to leverage live commerce as a way to blend the physical and digital worlds. Jacobs says sales rates with live commerce are on par with or better than in-store conversion rates, and that merchants jumping into live commerce now will be better prepared for the metaverse boom in the future.
Ericsson Emodo Launches Creative Lab Focused on AR Experiences
With buzz around the metaverse reaching a fever pitch, and industry observers touting the “multitrillion-dollar potential” for early adopters, Emodo is positioning itself as a leader in the space. Emodo Creative Lab will focus on creating targeted AR experiences for advertisers, beginning with Resolution Media and The Broadway League.
2023’s Web3 Opportunities
As we embark on a new year, we look back at 2022 as the year brands took a leap into the Web3 space, creating novel campaigns to engage with their customers in the digital space. In 2023, we expect brands to continue these efforts to create new, fun ways to improve their customer engagement through Web3 activations.