The Metaverse is a new way to live and work online that is growing in popularity.
Brands want to invest in the Metaverse because it promises high engagement from viewers, especially younger demographics.
Citi predicts that the Metaverse economy could be worth $13 trillion by 2030.
Advertising in video game worlds has existed for years, with examples including Disney recreating the world from the movie Tomorrowland.
Here, Verizon built a working phone in Minecraft.
Engagement in the Metaverse has been shown to be much higher than with other forms of advertising; for example, users spent an average of 20 minutes engaging with Miller Lite's Superbowl ad.
Adidas sold its "Into the Metaverse" wearable NFTs along with physical clothing earning them more than $22 million in a single afternoon.
Netflix promoted "The Gray Man" via Decentraland. Users can navigate a labyrinth using their knowledge of the movie’s plot with actor Ryan Gosling providing instructions along the way.
Snoop Dog is developing the “Snoopverse” immersive world in The Sandbox. Early access passes into the Snoopverse began in December 2021 and are currently selling for ~$685.
While early, if the Metaverse grows to be as big as some predict, the early adopters could reap massive rewards.