How marketing and advertising is shaping the metaverse | Digital Marketing Technology| Digital Marketing Trends

today is May 27, 2022

  • The metaverse is getting a big boost from Facebook, Microsoft, and other tech giants.
  • Advertisers are scrambling to seize on the opportunity to play in these virtual spaces.
  • Here's a breakdown of Insider's coverage of how marketing is shaping the metaverse.

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While not new, the "metaverse" recently got a big boost from Facebook, now known as Meta, which is pouring $10 billion into its ambitions there. Other big tech companies including Apple, Google, and Microsoft are working on their versions of the concept.

The vague term refers to a variety of shared spaces and assets that people can access via the internet, sometimes using virtual reality and augmented reality devices, and interact with each other and buy virtual goods.

But Facebook itself says the payoff won't be immediate, and top executives have widely differing expectations of what the metaverse means to them.

Read more: Facebook: Metaverse investment to reduce profits by "approximately $10 billion" this year

Here's what 14 top executives are saying about the 'metaverse'

CEO interest in the metaverse is surging, but some are wary: Data

Metaverse gaming, VR, crypto, NFTs

As hype builds around the idea, advertisers and their agencies are racing to benefit from the metaverse, whether that means people exploring virtual worlds, engaging in gaming, or buying NFTs using crypto.

Brands have launched several initiatives in 2021 to stake their claim in the metaverse, minting NFTs — non-fungible tokens — exploring smart contracts, and building metaverse and Web3 experiences. 

But with new opportunities also come new challenges, such as high unpredictability, the lack of standardization, and the risk of being inauthentic.

Brands may have to rethink their approach to digital marketing if they are to succeed in the newest version of the web. They're getting bombarded with proposals and need to figure out which tech and ad partners to work with, which consumers to prioritize.

Read more: Advertisers look to capitalize on the metaverse hype

Meta might let companies sponsor the appearance of objects in the metaverse, patent filing suggests

WATCH: Why the metaverse Is a "Golden Era" for brands, according to marketers

ViacomCBS futurist reveals how NFTs and interactive entertainment are evolving at the company that created MTV, 'an original metaverse'

WATCH: Marketing leaders from Playboy, Anheuser-Busch, and Marriott share strategies to win in the metaverse

3 NFT insiders predict how Hollywood can maximize the tech in 2022 — from character and IP development to subscription marketing

Crypto companies are starting a marketing blitz in a race to win over mainstream consumers

Metaverse experts, hiring

Advertising companies are increasingly creating gaming and entertainment divisions as a gateway to the metaverse. 

They include Vayner Media, which is hiring for metaverse roles for its new VaynerNFT division; and S4 Capital's digital creative and production agency Media.Monks, which is leaning heavily into the metaverse concept.

Read more: 24 agency executives leading advertisers' charge into the metaverse and Web3

Top advertising executives in gaming and esports

13 top execs leading Sir Martin Sorrell's S4 Capital as it builds a digital challenger to advertising giant WPP

12 advertising upstarts to watch in 2022 as the shift to digital threatens established agencies

Roblox pays up to $430,000 in base salary for top talent and is hiring for hundreds of metaverse roles. Here's how to land one, according to its CTO.

Metaverse deals

Look for interest in the metaverse to drive deal-making this year, too. Metaverse buzz has investors looking at companies that help marketers master virtual reality. Crypto companies could buy ad agencies to build awareness for themselves, now that Facebook and other platforms have relaxed limits on crypto advertising. 

Read more:  2022 is shaping up to be a big year for advertising MA. Here are 10 trends to expect, from a jump in e-commerce ad deals to a surge in event marketing interest.

11 advertising companies that are top MA targets in 2022 as marketers pour money into TikTok and the metaverse

Companies that Accenture CEO David Droga could buy