One global impact of the coronavirus has been billions lost from canceled events.
The Metaverse. Depending on who you are, two words that cause some to freeze in their tracks and others to froth over with excitement at the prospect. But like it or not, the Metaverse has arrived and we as marketers, brand, and media professionals should already be considering, formulating, and planning what this means for our brands and businesses.
Brand stewards, marketers, community managers, and CMOs are charged with connecting brands to business growth, revenue and people. The evolution of virtual and augmented reality environments has continuously challenged these stakeholders with those very objectives and how the Metaverse today can get them there. Because so much of these environments are still wearable dependent, the growth has been somewhat slow and spotty. However, brand forward thinking CMOs and CEOs have carved and tested their own visions in these protected worlds because they already understand the functional necessities of how marketing will need to behave down the road whenever that may be when natural business will conducted in these new channels.
While conversations around if and when the Metaverse will be our new reality continue, the reality is that it has already begun. Brands must weigh the potential and the opportunity. Conversely, brands that aren’t already playing in the space or actively planning to integrate what they do with the Metaverse, should understand that they may end up as a case study of brands that failed.
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