Future. Metaverse worlds may not have that many people (yet), but marketers are already lining up to make sure that brands are well-represented. Marketers are offering up virtual land for rent to host activations and help facilitate the sales of NFTs to create new revenue streams. While sipping a digital beer at Miller Lite’s virtual bar may seem strange, clever experiences such as that could be far more sticky than a passive ad on a website.
Companies as diverse as JPMorgan Chase, Sotheby’s, Samsung, Miller Lite, and Gucci are all getting into building activations in the metaverse.
So marketers are already building spaces for them.
- TerraZero Technologies Inc. rented out its land in Decentraland to Molson Coors Beverage Co. to open a virtual tavern for Miller Lite called the “Meta Lite Bar.”
- Yes, users could pour themselves a virtual beer.
- Metaverse Group (a subsidiary of Tokens.com) purchased 313,000 square feet of land in Decentraland, which it rented out to be the location for Metaverse Fashion Week.
- Tommy Hilfiger is slated for involvement.
- Gucci directly bought a plot of land in The Sandbox, which it plans on using to open up a retail store based on its Gucci Vault concept.
- The move is to help the fashion house capture a Gen Z clientele.
Prime real estate
While Decentraland and The Sandbox have become the top two destinations for brands (where’s the love for Minecraft?), both offer different benefits.
- Decentraland is already an open, permissionless platform, meaning anyone can jump right in and start building an experience. It has also proven that its servers can handle a crowd.
- The Sandbox is technically still in beta (it’s opening to the public in phases this year), but it has already attracted several celebrities (Snoop Dogg is a supporter), which could attract more high-profile brands.
But if brands really want to capture as many eyeballs as possible in the metaverse, maybe they should just hit the casinos.