In the report The Metaverse: Moving People in Web 3.0, BCW APAC's Digital Innovation Group explores how the metaverse will impact marketing communications, and what the essential considerations for brands should be. Read on for a sneak peek or scroll to the end to download the report.
What is the Metaverse?
The metaverse was first conceptualized in the 1992 science-fiction novel Snow Crash by Neal Stephenson as a virtual reality environment in which lifelike avatars met in realistic 3D buildings.
Today, the metaverse is easiest described as a real-time virtual dimension that sits on top of physical reality, incorporating new technology and means of communications including augmented reality, virtual reality, 3D holographic avatars and video. Tech giants are currently racing to establish a presence in global metaverse discussions and find ways to monetize this new virtual realm.
The rise of the metaverse will mark a new era in consumer empowerment and stakeholder interaction. People won’t just be socializing in these emerging online realms — they will be working, entertaining, shopping, creating and discovering in them, too.”
Joe Peng
Chief Digital Officer, BCW APACAre you ready?
From a communications perspective, the implications are huge.
Brands need to adapt how they make authentic connections with people by building new stories and reinventing their image and capabilities in the metaverse. This innovation will not happen solely in the virtual world, but at the intersection of real life where communications will be transformed from storytelling to storyliving*.
It will be essential for marketing communications practitioners to claim space here, not just to market and entertain but to co-create and design solutions or services. With so much potential, brands need to be focused on their approach to this new ecosystem and how they will integrate it into their existing strategy.
A Multi-Dimensional Perspective
In The Metaverse: Moving People in Web 3.0, we explore the ways this new ecosystem will accelerate digitalization of marketing communications, the accessible gateways for brands to enter the metaverse, and what the key dimensions for consideration by brands should be.
The metaverse has the potential to change to the way we are able to influence how people think, feel and behave forever. It’s a playground for marketing communications with few limits that few brands can choose to ignore.
Structured around three key perspectives, we provide essential considerations for brands across New Humans, New Events, and New Objects.
Three Key Perspectives:
- The New Human: Connect with avatars and digital humans and influence them virtually.
- The New Event: Create and participate in metaverse events, emphasizing community-driven digital relationships.
- The New Objects: Explore virtual possessions and digital goods and experiment with NFTs.
Are You Ready?
