A New Era of Metaverse Marketing: How Brands Can Build Influence in the Digital World

Metaverse: A New Era of the Digital World

The Metaverse, as a digital world composed of multiple virtual reality spaces, is changing the way people live, work, and socialize. It provides users with a diverse space for virtual interaction, socializing, gaming, and shopping, while also bringing new opportunities and challenges for the development of the digital economy.

The motivation for enterprises to enter the Metaverse

The reasons for companies choosing to enter the Metaverse are varied. This emerging digital realm opens up broader markets and business opportunities for companies, providing consumers with richer marketing and sales channels through features like virtual reality, virtual stores, and social interactions. At the same time, the Metaverse can offer companies more opportunities for data analysis and user feedback, helping to enhance brand awareness and loyalty, as well as strengthening corporate image and influence. Furthermore, laying out a strategy for the Metaverse in advance is seen as a strategic move to seize the high ground of the future digital economy.

Global Enterprises' Metaverse Practices

Many well-known companies have begun to explore and practice in the Metaverse field:

A certain tea beverage brand launched 300 NFT blind boxes around its self-created IP, priced at 39 yuan. This event not only satisfied users' consumption desires but also enriched the brand's image and story. By cleverly leveraging users' compensatory consumption psychology, the brand generated nearly 200 million yuan in total merchandise transaction value within 72 hours, equivalent to a week's sales for its more than 700 stores nationwide.

On the occasion of its 30th anniversary, a real estate group purchased works from a well-known NFT project and issued derivative digital collectibles based on this, serving as identity markers for users entering its Metaverse platform. As the platform development progresses, more rights and features will be gradually unlocked.

A certain luxury brand has launched a mobile game to commemorate its 200th anniversary. Players can embark on adventures with brand icons in the game and gain a deeper understanding of the brand's history. Players who complete the game have the chance to receive an NFT co-created by the brand and a well-known crypto artist.

A well-known beverage brand entered the NFT space in December 2021, launching a series of NFTs generated by AI algorithms. The following year, the brand also created the first online concept store experience space.

The right way to build a brand Metaverse

Building a brand Metaverse should be based on the culture of the enterprise or organization itself and its existing brand effects. Simply utilizing virtual reality technology and e-commerce components is not enough to construct a true Metaverse platform. A genuine Metaverse requires the support of blockchain technology and NFTs, which are key elements in building a decentralized, interoperable Metaverse with real ownership and value exchange.

NFTs provide uniqueness, scarcity, and verifiable true ownership of items in the virtual world. Blockchain technology offers a decentralized data storage and trading mechanism, ensuring transparency and security in interactions and value exchanges within the virtual world.

Compared to Web3 native projects, traditional brands have a greater advantage in the Metaverse because they inherently come with a certain consumer base and traffic. To attract users in the Metaverse, companies need to tell unique stories through their own IP, showcase the brand's values and mission, and integrate them with the characteristics of the Metaverse.

Case Study: Martell's Metaverse Journey

Martell, this well-known French Cognac brand with a 300-year history, demonstrates how to perfectly combine traditional branding with Metaverse technology.

Martell has achieved immersive interaction through various technological means. Users can choose to explore the Château de Chanteloup in either 2D or VR mode, with detailed text or video introductions at every stage, from the vineyard to the blending room. This immersive experience allows Cognac culture enthusiasts to gain a deeper understanding of Martell's history.

The exploration journey also incorporates game elements. The number of steps taken by visitors, the locations visited, the number of recipes viewed, and the number of keys obtained will all serve as "proof of work," generating a unique "Martell Expert" certification level. This gamified design enhances the enjoyment of exploration while deepening users' understanding of the brand and its products.

Martell has also launched a limited edition NFT collection, including vineyard grapes, Martell Blue Ribbon, Château deer, and Martell distillers, presenting brand elements and values in a digital format.

In addition, Martell also offers live event opportunities for users to interact face-to-face with cellar masters, gaining in-depth insights into the process and essence of Cognac production. At the same time, users can create their own customized Cognac in a virtual space, from selecting ingredients to unique flavors, completely tailored to their personal preferences.

Conclusion

The Metaverse provides brands with almost limitless creative space. Digital technology and artificial intelligence simulate various activities and interactions in the real world, allowing brands to create richer and more diverse virtual experiences. The integration of virtual goods, service economy, and advertising marketing achieves a perfect transformation of online activities into the offline economy.

In the Metaverse, consumers can more intuitively feel the culture, values, and product features of a brand, thereby gaining a deeper understanding and trust in the brand. This not only provides businesses with innovative business models and marketing strategies but also offers users a richer consumption experience and interactive opportunities. With the continuous development of technology, the Metaverse will continue to change the way we interact with brands, ushering in a new era of digital marketing.