How Brands Are Tapping into the Metaverse

“Metaverse, metaverse, metaverse!” Just like Marcia from The Brady Bunch, it’s all everyone keeps talking about today. And if you’ve tuned it out, it’s time you should start caring. Why? Believe it or not, social media platforms and even the cloud were once thought to be fads long ago—and they’re undeniably a far cry from being a short-lived popularity trend in today’s world. And if you think the metaverse is one, you might want to think again. Many experts believe that the metaverse is the next iteration of the internet, and that brands should take notice now. You don’t want to be the last one on board of this fast-moving train.

InVision understands that building connections between brands and people strengthen loyalty and drive change. We believe that the metaverse will be core to this, as the future of communities will deeply influence brand engagement across both live and digital channels. Event marketers have the power to seize this opportunity and create new, innovative experiences to engage with new and existing audiences. We're seeing it work successfully for numerous brands, and we hope to inspire you to think about how the metaverse can apply to your brand objectives.

It's Time to Verse Yourself
In the simplest of terms, the metaverse is a network of 3D virtual worlds focused on social connection. It allows you to seamlessly move from one virtual world to another while connecting with others – as if you are in the same physical room together. If that still doesn’t make sense, check out Make Worlds: The Metaverse for a deeper look into the metaverse ethos with InVision’s very own gaming experts.

Although the metaverse is still in its conceptualization stage, many brands have already been experimenting with existing digital technologies like virtual reality, augmented reality and mixed reality to build immersive, interconnected worlds for their businesses to connect with consumers. Online gaming companies Roblox and Epic Games are the most notable brands to be leading the charge in this space with their open-world simulations for people to play, network and create. In fact, a lot can be learned and inspired by the gaming industry when it comes to creating digital worlds. Even major corporations like Microsoft have put their hat in the ring by acquiring video game publisher Activision Blizzard as one step closer towards building the next iteration of the internet, a la metaverse.

So, what are other brands doing? A lot. Lucky for you, we’ve collated the best and most inspiring examples we’ve seen today, including the game-changers who are paving the way for metaverse adoption.

Coca-Cola NFT Auction
If there’s one thing Coca-Cola does well is sell its brand over its product through their aggressive marketing campaigns. Leading with bringing “Happiness” to every bottle, this billion-dollar industry knows how to connect with their consumers personally and globally. It was no surprise then for fans when Coca-Cola and Decentraland created a unique, branded metaverse experience that embraced the major beverage corporation’s message of optimism to acknowledge World Friendship Day. Coca-Cola launched and sold its first ever NFT (non-fungible token) as a single asset for nearly $600K with proceeds benefiting Special Olympics International. Why is this important? NFTs are a major revenue stream for brands in the metaverse and Coca-Cola proved that to be true.

NIKELAND and Roblox
Living up to its goal to turn sport and play into a lifestyle, Nike created NIKELAND on Roblox for Nike fans to connect, compete create and share experiences. This limitless, barrier-free digital world allowed visitors to participate in mini games like tag and dodgeball with friends, as well as allow creators to design their own games within the space using the NIKELAND tool kit. It didn’t end there. Nike brought the digital experience to its physical NYC House of Innovation, as a virtual-first playground for shoppers. The AR-enabled experience through Snapchat Lenses was a version of NIKELAND that also offered games and avatars. This crossover of bringing the digital experience into the physical is a powerful example of how the metaverse is breaking down the walls between the real and virtual worlds, opening another form of omnichannel business.

GRAMMY Week
The music industry has been very successful diving into the metaverse space, attracting millions of people to virtual concerts. Mastercard recently collaborated with Roblox to release the GRAMMY Week experience in celebration of the 64th Annual Grammy Awards. The first of its kind, the Recording Academy hoped to connect with a younger audience for a broader reach. In this virtual user experience, GRAMMY Week held a variety of fun activities leading up to the awards weekend. Fans got to explore the Las Vegas strip, walk the red carpet, take photos with friends, fly their own plane and collect items, answer GRAMMY trivia questions to win items, and shop exclusive GRAMMY’s and Camilo merchandise. Fans were also treated to a virtual concert with GRAMMY-nominated artist Camilo, as well as avatar meet-and-greets with a number of recording artists. It’s important to remember that these moments likely wouldn’t happen for fans in our physical world.

Gucci
The rise of the metaverse has resulted in an entirely new digital economy and fashion NFTs is the next big thing. The very thought that digital fashion wearables for your avatar is a hot commodity might seem unbelievable at first, but it’s clearly gaining traction among loyal fans, generating over $2.5 billion in sales in the first six months of 2021. Gucci was the first established luxury brand to sell an NFT, beyond game skins and in-game items. The eye-opening success of selling its item for $25,000 caught the attention of many fashion labels. From Balenciago and Louis Vuitton to Ralph Lauren and Ted Baker, many luxury fashion houses have put their “skin” in the game and many more are joining, which even includes one of the fashion industry’s most anticipated events of the season, Fashion Week.

The metaverse isn’t going away and this won’t be the last time you hear that three-syllable word. Now is the time to start thinking about the future and how this new form of connectivity will impact your brand and audience engagement strategies going forward.

Are you looking to design your next event program as a metaverse-inspired experience? Contact us at info@iv.com to learn how we can help.

How Brands Are Tapping into the Metaverse

4.20.22