What is the Metaverse?
The Metaverse is a digital world created by companies and users and experienced through a virtual reality headset. In it, you can meet up with friends, see a show, play a game or do anything else you could actively experience in the real world. The difference is that your physical body and location don’t have to be limiting factors.
Want to be a dragon and fly above your favorite band while they perform? It’s possible in the Metaverse. Want to own 1,000 dogs and walk them all without a leash? At least you don’t have to worry if they bite.
The Metaverse is a different reality. One that feels like a video game where your creativity and imagination can dictate everything around you.
How will it Impact Social Media?
It’s hard to tell what the impact of the Metaverse will be. If you ask Mark Zuckerberg, founder and CEO of Meta, it’s going to change everything – and they’re putting their money where their mouth is, dropping billions into the development of the Metaverse.
If you ask the public, you’ll get some contradictory responses. According to a survey conducted by Axios, only 7% of the public thinks the Metaverse is exciting and makes them hopeful for the future, while nearly a third (32%) say it makes them scared.
Most, however, have no idea what the Metaverse is, with 60% of respondents claiming they are unfamiliar with it entirely.
How will it Impact Digital Marketing?
The impact felt by digital marketing professionals hasn’t come to fruition… yet.
If it ends up being a big draw, with millions or hundreds of millions of daily users, it will overturn marketing as we know it. Some early adopters and large companies are pushing into the space, trying to be the first to harness the Metaverse for sales and conversions. Companies like Nike have released digital shoes for you to sport in the Metaverse.
Hundreds of artists are hard at work creating digital artwork for you to hang in your digital home. Companies are setting up shopping locations where you can explore brands, try on things and order actual products delivered to your home from the “brick and mortar” locations.
It’s easy to see how the Metaverse could have a massive impact on digital marketing and sales, but with just a million active users, it’s hard to know the value. Compare the Metaverse to Facebook’s 1.9 billion daily users, and it’s easy to see where you will get more bang for your marketing buck, but widespread adoption will change everything. If it does, Wyckoff will be here to help.
