Why your brand should be "metaverse-ready" for 2023
By now, you’ve certainly heard enough hype about the metaverse to conclude that it’s on the horizon. But don’t expect many true metaverse experiences to gain mass adoption in 2023. Instead, 2023 will be the year when we’ll become “metaverse-ready”.
There are already amazing immersive and interactive experiences available, including games like Fortnite, Minecraft, and Roblox. But none of these games truly pay off on the promise of the metaverse we imagine today, a virtual world in which we can meet friends and strangers from around the world to play, explore, shop and interact. To bring that vision to reality, there’s still much to work on with content production, technology advancements and virtual commerce within the Web3 space.
One thing we know about the metaverse is that any concept brands adopt will only succeed with content that’s rich, interactive, personalized, and engaging. Many companies and creators have already begun ramping up 3D content creation, not only because it allows them to experiment with metaverse experiences for the future, but because it helps them approach business problems efficiently, too. Creating in 3D allows for companies to make marketing images, catalogs, and ads in a way that’s not only faster, cheaper, more scalable, and more sustainable.. But most importantly, engaging for its audience. For instance, global furniture brand IKEA and ice-cream maker Ben & Jerry’s have utilized 3D rendered images at full efficiency, at a fraction of its cost traditionally with a high engagement rate with its fans.
Besides that, the metaverse also introduces 3D creation to product design. Take Tommy Hilfiger as an example – as they incorporate 3D assets for innovation that resulted in shortened design review processes by up to two weeks, while footwear brand Salomon makes virtual shoe design rendering prototypes that cuts down its overall lead time by up to 67%.
With the adoption of 3D content, brands now have the freedom of experimentation with fresh concepts within the Web3 space. We’re talking about piloting new approaches, collaborative work with like minded brands, and all in all, more room for breaking boundaries. A great example is Amazon utilizing augmented reality. The brand took it up a notch with home decor by allowing shoppers to place AR versions of their products within their homes, digitally. With hundreds of billions of dollars of purchases happening via the internet, the metaverse will also be an important aspect of commerce. As we look into the future, what’s different will be that the metaverse will not just be a place to purchase physical products, but virtual goods as well.
Take this as an example: as people start to develop their personalized selves on the internet, they’ll want to dress up their digital selves (as they would in real life), with virtual shoes, cars, art and wearables. This year, the metaverse will really focus on capitalizing buying and selling physical and virtual goods through NFTs. A key to its value is no doubt its portability – they can be stored, accessed, and easily transferred using blockchain technology, easily accessible and fool-proof for its holder. NFTs can come in different shapes, sizes and applications – with clothes and collectibles on the rise, we’d see NFTs as an avenue for more in the future with expanding the idea of exclusivity and added-value for holders.
As the virtual world may seem like a concept that is contradictory, the metaverse is very much an extension of real human experiences. In more ways than one would imagine, many crave digital experiences that feel intimate, foster close-knit communities, and build relationships with others. The idea of the metaverse enables those exact human experiences, in a world that is boundary-less. Right now, what the future may hold for the metaverse is still unknown to us, with many trials and errors to be explored within the space. However, it is definitive that brands that have capitalized on this technology to unlock many more doors as architects of this new medium for the foreseeable future.