Facebook has evolved into Meta.
Instagram is introducing NFTs.
Twitter is adding blockchain-verified avatars.
Reddit is as well.
There is a transition taking place.
One that is critical to every business. However, there is a lot of background noise. It is tough to keep up with everything and determine which trends will last.
And things are just going to get worse.
Is the metaverse the social media of the future?
Social networks are evolving and contending at a greater rate than in the past. Meta sees what is written on the wall. They understand that they will not be able to compete with every other social network indefinitely. So, they are placing a large wager on what happens next.
This does not imply that consumer behavior will shift away from traditional social media platforms anytime soon.
The social media platforms here today will eventually become fundamental social layers on which consumers and businesses rely.
Will a new social platform emerge, built on the blockchain or entirely in VR? If not both, at least one of these will occur.
What is more crucial is that you grasp a few key notions about what is to come. Also, how it affects you.
What exactly is the metaverse, and why is it important?
The metaverse is nothing more than a virtual world. An online environment where people prefer to spend their time rather than the material world. There is some dispute about whether that virtual environment should be viewed through a VR headset. Even Zuckerberg will tell you that VR technology is still in its initial stages.
The basic truth is that virtual worlds are being created for us to spend more time in them. Today, around 160 businesses are active in this field. It is quite like what we saw 15 years ago when social networks like Myspace, Facebook, and Twitter were intended to consume more of our online time.
Should your company invest in the metaverse right now? No. Simply said, the technology is not there yet.
Go ahead and create a storefront in Decentraland’s metaverse as a PR stunt. Simply said, do not anticipate it to be a long-term consumer engagement potential right now.
If you have the supplies and are interested in the metaverse, you should put these technologies to the test and understand what they are excellent at and what they are not.
Virtual worlds, however, are only one aspect of how the web is changing today. And it is likely to be the one that takes the longest to materialize.
What is web3 and why is it important?
Web3 is a blockchain-based decentralized variant of the internet. It includes cryptocurrency, NFTs, Defi, tokens, and much more. And, for some, it will eventually become a metaverse, or virtual world, based on crypto principles.
There are two fundamental notions in web3 that are not going away soon. Let us have a look at how they might affect your business or help your advertising in the coming years.
Wikipedia is decentralized. WordPress is as well. Nobody decides how these materials are built. They are carried out cooperatively, with few to no gatekeepers.
Decentralized communities can move swiftly. They can mobilize big groups of people in support of a cause. It is difficult to compete with them. They can also respond quickly to obstacles.
There is no coordinated power brokerage on the blockchain. Because ownership is divided among the users. Donations, bounties, or quests may be used to obtain ownership in some cases. Ownership can also be obtained by purchasing an NFT or trading for social tokens.
The particulars are less essential than the consequences. A group of proprietors will always outperform a community where there is no value exchange. It is the reason that NFT communities may grow so quickly. When the public shares in the benefits, there is an inherent incentive.
What should a business do about web3?
These basic principles are the most critical one’s for you to grasp to understand what happens next. They represent enormous marketing opportunities. They are promoting a new generation of community-based communities based on ownership.
Entire organizations and businesses are being redesigned as DAOs (Decentralized Autonomous Organizations), organized forms of decentralized orgs owned and administered by their members for a common goal.
We are currently in the testing phase. You must get your hands filthy and experiment if you want to learn more. Consider companies such as Time, Playboy, Nike, and Adidas.
Participate in an NFT Discord discussion or DAO (Decentralized Autonomous Organizations) which is relevant to you.
Create a token or NFT. Reward your viewers. Let us see what happens.
Begin testing immediately, because these solutions are founded on basic web features that are not going away anytime soon.
Contact Seattle Advertising today for metaverse marketing!