Table of Contents for "The Metaverse for Brands (Opportunities & Benefits)":
- Metaverse—what's it all about?
- What is the vision for the metaverse?
- Brands in the Metaverse—Is That a Viable Option?
- Which brands are already in the metaverse?
- Why the Metaverse Is Already Everywhere for Businesses
- How do I register my trademark in the metaverse?
- Conclusion on the Metaverse: A Real Opportunity for Your Brand
- FAQ on the Metaverse
Everyone’s talking about the metaverse—but what exactly is it? And most importantly: What does it have to do with brands? Is there a way to capitalize on this new trend? Here at Danthree Studio, we focus on brands in the metaverse and want to help you better understand the metaverse.
Metaverse—what is it all about?
For some time now, this term has been a recurring topic in the tech scene. Mark Zuckerberg’s name is closely associated with it. However, he didn’t invent the metaverse, and in fact, other Silicon Valley CEOs also see the future of their companies in this mysterious virtual world.
The story really took off in April 2021, when Epic Games (the maker of Fortnite, among other titles) announced a $1 billion funding round. The money was intended to help bring the company’s vision to life in a kind of digital reality.
Just a few months later, Mark Zuckerberg announced to investors that the corporate group behind Facebook and other companies would become a "metaverse" company in the future. Satya Nadella, CEO of Microsoft, followed suit and announced that Microsoft would also create a metaverse.
The term "metaverse" was first used in Neal Stephenson's science fiction novel *Snow Crash*. The novel was published in 1991, and in it, the term describes a form of global virtual reality. People enter this reality as avatars. Stephenson's novel also has a dystopian quality, combining digital elements with steampunk themes and painting a bleak picture of the future filled with social problems.
However, the metaverse can also be compared to today’s massively multiplayer online role-playing games. Take away the concept of gameplay, high scores, and predetermined goals, and that’s what you’re left with. Thriller author Daniel Suarez explored this theme in his 2004 novel *Daemon*, which also revolves around a kind of digital reality where people meet, reside, live, and do business.
Suarez calls the digital space "D-Space." In his story, an artificial intelligence—born of Unix-like operating systems—interferes with people's reality. Of course, it ends badly—it's a thriller.
What is the vision for the metaverse?
Essentially, this vision of a metaverse isn't all that different from today's Internet. In a 2020 essay, Matthew Ball clearly defines the rules of the metaverse. He writes:
- The metaverse keeps running; it can neither be stopped nor paused.
- Everything is live; it's happening in real time.
- There are no limits on the number of participants.
- It has its own economy, and companies and individuals interact just as they do in the real world. This also includes paid work, which is compensated in this digital space using a currency that is valid there.
- The metaverse encompasses both the digital and physical worlds, but also offers closed platforms.
- Digital objects, such as items from video games, can be traded and thus used outside their original context.
This new space is expected to encompass even more areas of our daily lives than the Internet does today. One of Ball's expectations is that the "new Internet," with its expanded capabilities, would generate even more revenue than the Internet already does today.
And this is where companies come into play: The 10 most valuable publicly traded companies in the world today are leading internet companies. Those who invest in the metaverse early on are likely to stay ahead of the curve in the future. Zuckerberg, Sweeney, and the other tech executives were therefore prompted by Ball’s forecasts to invest as early as possible.
Brands in the Metaverse—Is That a Viable Option?
Yes, quite a lot is happening there. For example , on December 1, 2021, t3n reported that the company Republic Realm had purchased a plot of land in "The Sandbox" metaverse for $4.3 million.
You have to let that sink in: This plot of land is a digital construct—basically, a few (actually, a great many) lines of code and lots and lots of tiny colorful pixels used to display it. A virtual plot of land (i.e., one that exists only digitally and consists solely of electrical impulses) was sold for 4.3 million U.S. dollars.
The metaverse already has its own functioning economic system. People are already meeting here, holding business lunches, and showcasing themselves and their companies. And just like in “real life,” it’s all about appearances, trendy things, fashions, and status symbols.
Sure, they’re “just virtual,” but after all, the same goes for this text right here. It, too, isn’t written on paper—it’s basically just a bit of code and a few pixels. So we have to take all the hype surrounding the new digital space and virtual properties seriously.
Virtual properties are developed using virtual labor, paid for with virtual currency. Buildings are constructed; within them, apartments are rented or sold, office space is leased, and retail spaces are set up. People move through this world in the form of their avatars. The buildings feature interior design. The avatars wear clothes. Unlike Pac-Man, they can even change their outfits. Avatars want to wear trendy sneakers. They want to shop for and show off “it” pieces.
After all, behind every avatar is a real person who expresses themselves—their personality and interests—through the avatar’s design. Through the VR headset, this person experiences what the avatar experiences. They look down at themselves and see the cool pants and the awesome sneakers. Virtual space and the physical world have long since become one.
Which brands are already in the metaverse?
As the marketplace of the future, the importance of digital alternative reality is growing, and there is no end in sight. Numerous well-known brands are already present here and are marketing their products digitally.
Examples of brands in the metaverse:
1. Nike, the sports brand:
Thesports and fitness brand has been running fun-focused ad campaigns for many years, frequently referencing athletic competitions. A Nike metaverse project is set within the Roblox platform.
Here you'll find Nikeland, a place where sports and play are integrated into a lifestyle. Featuring parks and plazas, running trails, and obstacle courses, Nike presents itself here as a metaverse brand focused on sports and play.
However, the company's products are also sold in digital form, demonstrating how CGI can be applied in the fashion industry as well. Clothing and shoes are available here as NFTs (non-fungible tokens).
2. Fashion brand Zara:
Zara is also represented in the metaverse as a clothing brand. The initiative is a collaborative project with the South Korean fashion collective Ader Error and the Zepeto app.
The project allows users to try on virtual clothing and makeup for the customizable avatars in the app. Zara bridges the digital and real worlds: users can switch between the two, and the shopping experience is seamless.
3. Stella Artois beer brand:
Less well-known, but all the more spectacular, is Stella Artois’ approach. The brand is owned by AB InBev, one of the world’s largest breweries and a sponsor of famous racetracks. Stella Artois has teamed up with Virtually Human Studio to create a unique digital racing platform.
Zed Run, as the platform is called, is one of the first sports sponsorship initiatives in the still-young metaverse. On Zed Run, viewers watch 3D horse races, but users can also actively breed horses, which they can buy and sell to enter into races. Stella Artois itself offers unique breeds and horse coats. A branded 3D racetrack is even in the works.
4. Other Brands in the Metaverse:
Fashion brands such as Gucci, Adidas, Atari, Burberry, and Forever 21 now also exist as digital “offshoots” and offer virtual goods. Ralph Lauren, Tommy Hilfiger, Balenciaga, and other brands are also taking advantage of this brave new digital world.
Balenciaga, for example, is currently bringing digital fashion to Fortnite. Brands are clearly collaborating here to bring together multiple worlds for users. Brands come to life through these activities—for users, this is more than just consumption; in some cases, it represents an extension of their own identity.
Why the Metaverse Is Already Everywhere for Businesses
Which brand will be able to afford not to serve this market segment?
Of course, it's still a niche market today. But the Internet was also a niche market for a long time. Internet-enabled cell phones were available very early on with the BlackBerry, and WAP already provided a sort of mobile version of the Internet.
But mobile internet didn't really take off until the iPhone 3G came along—and today, you're constantly online with your smartphone and are probably reading this text on our mobile website.
Why should things be any different with the “metaverse”? The hype—which today is really only taken seriously by a few eccentric tech geeks—probably won’t catch on this year. But in the end, it will happen very quickly. The transition from Web 2.0 to Web 3.0 will be seamless.
It's time to make your brand metaverse-ready so that you'll be ready to go when things really take off—and stay one (virtual) step ahead of your competitors!
How do I register my trademark in the metaverse?
To protect your trademark in the metaverse and prevent other companies from copying your designs, you must register your trademark for the metaverse. Typically, you’ll need to re-register your trademark with the DPMA, EUIPO, or WIPO, since you cannot transfer your real-world trademark to the virtual world.
You’ll also need to create a list of goods and services. Be sure to select the correct classes that will allow you to represent your brand virtually in the metaverse. For example, you can check Class 9 for software or Class 41 for entertainment services.
And you're ready to go: As soon as you've registered your brand in the metaverse, you can impress potential customers with high-quality digital visualizations or animations. With augmented reality services, you can even show customers in the metaverse what a product would look like in the real world.
Conclusion on the Metaverse: A Real Opportunity for Your Brand!
We believe you should future-proof your brand and products and take advantage of the opportunities offered by the metaverse.
We’ve seen the evolution from Web 1 to Web 2: Back then (not that long ago), quite a few industry leaders were toppled because they simply failed to keep up with the changes and didn’t make the leap into the digital space quickly or comprehensively enough. Now it’s all about Web 3.
With CGI, you have everything you need to showcase your brand in the metaverse. Welcome to a whole new world!
