Table of Contents for Metaverse for Brands (Opportunities & Advantages):
- Metaverse - what's it all about?
- What is the vision of the Metaverse?
- Brands in the Metaverse - is there anything to it?
- Which brands are already in the Metaverse?
- Why the Metaverse is already omnipresent for companies
- How do I register my brand in the Metaverse?
- Metaverse conclusion: A real opportunity for your brand
- FAQ about the Metaverse
Everyone is talking about the Metaverse - but what is it actually? And above all: What does it have to do with brands? Can you somehow take advantage of the new trend? We at Danthree Studio are dealing with brands in the Metaverse and want to bring you closer to the topic of Metaverse.
Metaverse - what's it all about?
The tech scene has been buzzing about this term for a while now. Mark Zuckerberg's name is closely associated with it. But 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 creators of Fortnite, among other things) announced a funding round of one billion US dollars. The money was intended to help realize the company's vision of a kind of digital reality.
Just a few months later, Mark Zuckerberg announced to investors that the company complex behind Facebook and Co. would become a "Metaverse" company in the future. Satya Nadella, head of Microsoft, followed suit and announced that Microsoft would also create a Metaverse.
The term "Metaverse" was first used in the science fiction novel "Snow Crash" by Neal Stephenson. The novel was published in 1991, and the term here describes a form of global virtual reality. People enter this reality as avatars. Stephenson's novel also has something dystopian about it, combining digital with steampunk themes and painting an unpleasant future full of social problems.
However, you can also compare the Metaverse with today's massive multiplayer online role-playing games. Take away the game concept, high scores, and set goals, and you're there. Daniel Suarez, a thriller writer, took up the theme in his novel "Daemon," published in 2004, which also deals with a kind of digital reality in which people meet, live, do business.
Suarez calls the digital space "D-Space." In his story, an artificial intelligence, grown out of Unix-like operating systems, intervenes in people's reality. Of course, it doesn't end well - it's a thriller.
What is the vision of the Metaverse?
Basically, this vision of a meta-universe is not so different from today's internet. Matthew Ball clearly defines the rules of the meta-universe in an essay in 2020. He writes:
- The Metaverse is always running; it can neither be ended nor paused.
- Everything is live; it takes place in real-time.
- There are no upper limits on the number of participants.
- There is its own economy; companies and individuals interact as in the real world. This also includes paid work, which is remunerated in this digital space via a currency valid here.
- The Metaverse encompasses both the digital and physical worlds equally but also offers closed platforms.
- Digital objects, such as items from video games, can be exchanged and thus used outside of their original context.
This new space should encompass even more areas of our daily lives than today's Internet. One of Ball's expectations is that the "new Internet," with its expanded possibilities, would generate even more revenue than the Internet already does today.
And this is where companies come into play: The 10 most valuable stock corporations in today's world are leading Internet companies. Those who invest in the Metaverse early enough should also be ahead of the game in the future. Zuckerberg, Sweeney, and the other tech CEOs saw themselves compelled to invest as early as possible due to Ball's forecasts.
Brands in the Metaverse - is there something happening?
Yes, there's quite a lot going on. For example, t3n reported on December 1, 2021, that the company Republic Realm had acquired a property in the Metaverse of "The Sandbox" for 4.3 million US dollars.
You have to let that sink in: This property is a digital construct, so basically a few (very many) lines of code and many, many small colorful pixels for the visual representation of the same. A virtual (i.e., only digitally existing, consisting exclusively of electrical impulses) property was sold for 4.3 million US dollars.
The Metaverse already has its own functioning economic system today. People are already meeting here, holding business lunches, presenting themselves and their companies. And just like in "real life," it's a lot about appearances, about trendy things, about fashions, representative items.
Sure, they're "just virtual", but hey, so is this text here, right? It's not written on paper either, but basically just a bit of code and some pixels. So, we need to take all the hype about the new digital space and virtual properties seriously.
Virtual properties are being built with virtual work, paid for with virtual currency. Buildings are popping up, with apartments being rented or sold, office spaces leased, and shops being set up. People are moving through this world in the form of their avatars. The buildings have interiors. The avatars wear clothes. Unlike Pacman, they can even change outfits. Avatars want to wear the latest sneakers. They want to shop for and show off It-Pieces.
Because behind every avatar is a real person who expresses themselves, their personality, and interests through the design of their avatar. This person experiences what the avatar experiences through VR glasses. The person looks down at themselves and sees the cool pants, the awesome sneakers. The virtual space and the physical world have long 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's no end in sight. Numerous well-known brands are already represented here and are marketing their products digitally.
Examples of brands in the Metaverse:
1. Sports brand Nike:
The sports and fitness brand has been advertising for many years in a fun-oriented way and with repeated references to sports competitions. One of Nike's Metaverse projects is located in the Roblox system.
Here you'll find Nikeland, a place where sport and play are integrated into a lifestyle. Equipped with parks and squares, with running tracks and obstacle courses, Nike presents itself here as a Metaverse brand with a focus on sport and play.
However, the company's products are also sold in digitized versions, showing how CGI can also work in the fashion industry. Clothing and shoes are available here as NFTs (non-fungible tokens).
2. Fashion brand Zara:
Zara is also represented as a clothing brand in the Metaverse. The appearance is a joint project with the South Korean fashion collective Ader Error and the app Zepeto.
The project enables users to use virtual clothing and make-up for the customizable avatars in the app. Zara connects the digital world with the real world: users can switch between the two, the shopping experience is seamless.
3. Beer brand Stella Artois:
Less well-known, but all the more spectacular, is the approach of Stella Artois. The brand belongs to AB InBev, one of the largest breweries in the world and also a sponsor of famous racetracks. Stella Artois has teamed up with Virtually Human Studio and created a unique digital racing platform.
Zed Run, as the platform is called, is one of the first sports sponsorships in the still young meta-universe. At Zed Run, viewers see 3D horse races, but people can also actively breed horses that they can buy and sell to use in the races. Unique breeds and horse skins are offered by Stella Artois itself. Even a branded 3D racetrack is in the works.
4. Other brands in the Metaverse:
The fashion brands Gucci, Adidas and Atari, Burberry and Forever 21 now also exist as digital "branches" and offer virtual goods. Ralph Lauren, Tommy Hilfiger, Balenciaga and other brands are also taking advantage of the brave new digital world.
Balenciaga, for example, is currently ensuring that Fortnite is equipped with digital fashion. Brands are obviously working together here to unite several worlds for the user. Brands become tangible through activities - for users this is more than consumption - it may mean an extension of their own identity.
Why the Metaverse is already omnipresent for companies
Which brand will be able to afford not to serve this business segment?
Of course, it's still a niche today. But the internet was also a niche for a long time. Internet-enabled mobile phones were available very early on with the Blackberry, and with WAP there was already a kind of mobile version of the internet available.
But mobile internet only had its big breakthrough with the iPhone 3G - and today you are permanently online with your smartphone and are probably looking at this text on our mobile website.
Why should it be any different with the "Metaverse"? Presumably, the hype, which today is only really taken seriously by a few crazy tech freaks, will no longer prevail this year. But in the end it will be very quick. The transition from Web2 to Web3 will be smooth.
It's time to get your brand ready for the metaverse, so you're all set when things really take off and you're one (virtual) step ahead of your competitors!
How do I register my brand in the Metaverse?
To protect your brand in the metaverse and prevent other companies from using your designs, you need to register your brand for the metaverse. Usually, you have to register your brand again with the DPMA, EUIPO or WIPO, because you cannot transfer your real brand virtually.
You'll also need to create a list of goods and services. Make sure you select the correct classes to represent your brand virtually in the metaverse. For example, you can tick class 9 for software or class 41 for entertainment services.
And you're ready to go: Once you have registered your brand in the Metaverse, you can impress potential customers with high-quality digital visualizations or digital animations. With Augmented Reality services you can even show customers in the Metaverse what a product would look like in the real world.
Metaverse conclusion: A real opportunity for your brand!
We think you should future-proof your brand and products and take advantage of the opportunities the Metaverse offers.
We've seen the developments from Web1 to Web2: Back then (not so long ago), some established companies were knocked off their perch because they simply missed the developments and didn't manage to make the leap into the digital world quickly and comprehensively enough. Now it's all about Web3.
With CGI, you have everything you need to present your brand in the Metaverse. Welcome to a new world!
