Have you wondered how the Metaverse will evolve during 2023? What will be the trends in the use of the virtual world in the business environment? Here's a summary of the key information you need to know.
In the coming months we expect to see a great advance in the creation of personalized virtual worlds and in the adoption of these new immersive experiences by users. So much so that, according to Grand View Research, the global Metaverse market is expected to grow at a compound annual growth rate of 39.4% from 2022 to 2030.
From gaming to socialization, both users and businesses are taking advantage of the growing market to explore the endless possibilities offered by the virtual world. Want to know more about the trends that will dominate the Metaverse during this year 2023? Keep reading and find out!
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The Metaverse as a new marketing channel
The virtual experiences we can enjoy today are the germ of the future Metaverse, and yet they already allow us to appreciate the potential it has, and above all the potential it will have in the future, as a marketing and communication tool.
Projects of large companies and brands such as Telefónica, Springfield or Choco Flakes, are attracting attention and marking the way for what the Metaverse can be as a new marketing channel. That is, taking advantage of its possibilities, these types of brands are connecting with a new public and thus expanding their audience and market.
Marketing campaigns in the Metaverse
Marketing within the Metaverse adopts a completely different approach to traditional marketing. And, undoubtedly, the pioneers to accommodate this new approach will have a significant advantage, as they can test and create compelling experiences to traction and attract the attention of the public for their brand.
As technologies evolve, marketing strategies must constantly adapt and despite the fact that in marketing campaigns in the Metaverse the objectives and forms prevail, the adaptation to the rules and possibilities of this new medium, forces marketing departments to reinvent themselves and include new specialized profiles in the new marketing actions in the Metaverse, just as it happened with the arrival and expansion of the Internet.
Below we give you some ideas of strategies that can be realized by marketing actions in the Metaverse:
- Promotional actions, purely virtual or combining the virtual world with the real world.
- Paid advertising, because the Metaverse also has its own advertising sites.
- Content marketing, adapted to this new channel and its typology of users.
- Virtual and hybrid events, in which to bring together more attendees from anywhere in the world.
- Actions for ecommerce, allowing them to convert their 2D online store into a 3D space and sell in it directly.
- Influencer Marketing, which mobilizes the brand's target audience to the virtual environment or experience developed.
In a fully immersive environment, companies are able to provide gamified and memorable experiences. In addition, it also allows them to make a more personalized approach and reach a wider audience. And with all this, in addition, brands can also gain greater insight into their customers' preferences, by tracking and reacting to the stimuli shown.
A recent example is the virtual environment we have done for Choco Flakes in Roblox. This action, consisting of a competitive parkour that users had to overcome in the shortest possible time and a viralization campaign with influencers, has brought together thousands of users around a virtual experience that includes many representative elements of the brand and positions it in the user's mind.
More information about this project
In short, having a presence in the Metaverse allows companies and brands, among other things, to showcase their products and services in a more gamified and less commercial environment that, at the same time, manages to increase visibility and brand awareness.
Adoption of Extended Reality (VR, AR and MR)
In recent years, technologies belonging to Extended Reality such as Virtual Reality, Augmented Reality and Mixed Reality have taken steps forward in their democratization and have addressed the consumer market by introducing themselves in multiple areas of our daily lives.
And this is not expected to stop now but to go even further, due to their importance in the construction of the Metaverse and their ability to introduce us to virtual worlds and digital twins.
If you find it hard to differentiate these technologies or are not entirely clear which is which, we recommend you read our blog on Extended Reality first and then come back to this one.
Learn more about Extended Reality
New Virtual Reality, Augmented Reality and Mixed Reality devices
New Meta Quest 3, Meta's new VR glasses designed for a general audience and succeeding the current Meta Quest 2, are expected to hit the market this 2023.
On the other hand, according to several leaks, announcements of new devices are also expected from major technology companies throughout the year.companies such as Microsoft, Google or Apple have been investing and working for years in incorporating this type of technology and it would not be surprising that at some point this year they could launch their own VR, AR or MR devices.
Especially the last of these three, Apple, is the one that sounds the loudest and is expected to revolutionize the market for this type of device as it already did with the smartphone market after the launch of the iPhone.
Adaptation and use of haptic technology
As a complement to the immersion of these devices, companies are also working to use haptic technology to provide users with feedback to experience stimuli and allow them to physically "feel" objects and interaction with these in the virtual realm.
Thus, through the use of haptic suits and other types of simulators, the experiences created will go a step further in their immersive capability and begin to be much more realistic still thanks to their multisensory capabilities.
The rise of corporate experiences in the Metaverse
The Metaverse not only offers the possibility of expanding the range of options to enhance the work of marketing departments, but also promises to be a way to promote remote relationships, both social and work-related.
In this aspect, the Metaverse will make it possible, in the future, to have connections with customers, collaborators and colleagues around the world of higher quality than through a video call. More immersion, more realism and more closeness, to achieve more human relationships that reproduce face-to-face meetings despite the fact that attendees are thousands of miles away.
In fact, it is no coincidence that the creation of collaborative work environments in Virtual Reality or the recreation of offices and corporate buildings in virtual environments such as Decentraland are gaining popularity and are being developed and implemented in certain types of organizations.
Blockchain, Web3.0. and decentralization
Creating more realistic virtual avatars
More information about this project
Use of AI in Metaverse processes
The ChatGPT boom has uncovered to the general public the possibilities of Artificial Intelligence. Its creative possibilities for conceptualizing, writing and designing are spectacular and its integration into all kinds of computer processes has started to be realized en masse.
Applying this technology to help realize Metaverse-related processes is something that is going to become popular during this 2023. The implementation of AI can have different approaches when it comes to being implemented in the processes of creating virtual environments.
Some of its utilities can be as follows:
- Creation of intelligent chatbots that interact with different personalities and behaviors
- Use of IA to predict the behavior of users within the virtual environment and personalize their experience
- Automation of the process of design of virtual environments and 3D avatars
- Optimization of the interoperability of virtual avatars between different platforms
What conclusions can we reach?
After analyzing the current state of the Metaverse and the trends expected in the coming months, everything suggests that the year 2023 will bring us many technological innovations of interest in the field of virtual environments.
The release of new Virtual Reality, Augmented Reality and Mixed Reality devices, increasingly powerful and immersive, looks exciting with the possibility of further democratizing and bringing these technologies to the general public. The next step to continue introducing them into society is to create higher quality experiences that will interest users more.
This, in turn, provokes brands to value marketing campaigns with virtual actions more and to dare to experiment and invest in them. In this way, these virtual experiences can be expanded to new professional sectors.
Overall, the future looms exciting with a convergence of technologies such as Extended Reality, Blockchain or AI, which used together can represent a major advance in the construction and evolution of the Metaverse.
