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Trends and Forecasts

Important Web3 Concepts: Part 2

NFT, Community, NFTs, Trends and Forecasts / By

We’ve entered a new wave of the web – Web3. The opportunities and possibilities are endless and venture capitalists, developers, and content creators have seen this and they’re getting in early.

However, the majority of online users are still battling to understand basic web3 concepts in the web3 metaverse.

Entering the NFT/Web 3 space? Here are important Web 3 Concepts you need to know!

In our previous piece, Important Web3 Concepts: Part 1, we covered a handful of important concepts – to recap: Blockchain, gas fees, layers, and tokens.

Now we’ll be discussing the second batch of important web3 concepts you need to know if you’re entering the Web3/NFT space.

important web3 concepts part 2

In this article, we’ll touch on the following concepts:

  • Address
  • Alpha
  • Ape
  • DAO
  • Fractionalized

Address (Wallet Address)

Also known as your public key, this is an alphanumeric code that serves as the address for your blockchain wallet – similar to your bank account number.

Other users can send assets (NFTs, cryptocurrency etc.) to your wallet but only you can access them using your private key.

Your wallet address is usually linked to the likes of MetaMask, WalletConnect, or Coinbase. Web3 websites generally request you “connect wallet” in order to either enter or make use of their platform.

Alpha

This refers to valuable or “insider” information regarding the value of digital assets like cryptocurrency and NFTs. An Alpha leak usually refers to a leak from inside a project that could lead to outsized returns that are over and above the return offered by the market or benchmarks – similar to insider trading.

Ape

This refers to the act of going all in or investing heavily in a coin or NFT project. This is sometimes a reaction to hype or FOMO, or done without too much know-how of a project or asset. The origins are a bit blurry but carry no negative connotations. If you go “ape”, you generally go all in.

DAO

A DAO (Decentralised Autonomous Organisation) is an organisation based on open-source code and completely governed/run by its users and members with NO central authority.

They generally focus on a specific type of project or mission and all functions are fulfilled by guidelines or rules written on the blockchain. Smart contracts lay out the fundamental rules and the code itself can be publicly audited.

Fractionalized

Fractionalisation refers to the process of locking an NFT into a smart contract and then dividing it into smaller parts which are then also issued as their own fungible token. This lowers the price of ownership and allows artwork or other forms of digital assets to be owned by a community.

Fractionalized ownership can be applied to DAOs wanting to purchase blue-chip NFTs, a group wanting to buy a house together, or even a musician wanting to release an album to their fans and have the fans own part of the future success of the album.

Dapp

A dApp or Decentralised Application is an app built on open-source code that lives on the blockchain. These exist independent of centralised people, organisations, or groups and offer an incentive to users for maintaining them through the issuing of reward tokens.

Web3 Concepts Part 1

Important Web3 Concepts: Part 1

NFT, Community, NFTs, Trends and Forecasts / By

We’ve entered a new wave of the web – Web3. The opportunities and possibilities are endless and venture capitalists, developers, and content creators have seen this and they’re getting in early. However, the majority of online users are still battling to understand basic web3 concepts.

That’s where we come in – and there’s A LOT to try to digest so we’ve broken it down into two parts with 4 key concepts in each. We’d hate for you to lose interest or simply be overwhelmed. If you’re still battling to grasp what NFTs are, have a read here.

We’d hate for you to lose interest or simply be overwhelmed. If you’re still battling to grasp what NFTs are, have a read here.

Simplifying Web3 Concepts

In this article, we’ll touch on the following concepts:

• Blockchain
• Gas Fees
• Layers
• Tokens

Although we’ve already covered some of these terms in other articles, we’ll dive in deeper and explain these in more depth.

Blockchain

This is where it all begins – it’s possibly one of the most important concepts to grasp. It is essentially the backbone of the entire NFT industry. In a nutshell, one transaction is a “block” with a whole group of these forming the blockchain.

This is a whole new way of logging activity and transactions, security, and more.

Important Web3 Concepts: Part 1 - Blockchain

Blockchains have a few core features which we’ll also dive into:

  • Decentralised

This means that blockchains aren’t reliant on centralized, Web2 networks to stay online (like an Amazon server). They run entirely on independent nodes and hundreds of thousands of computers from around the world make this possible.

If you’re a miner and you’re one of the cogs that makes blockchain transactions run, you’ll benefit from earning a part of the transaction fee.

  • Public and auditable

Being publicly available and auditable you’re able to view every single transaction on the blockchain – providing full transparency.

An example of this is etherscan.io – Ethereum-based transactions can be viewed here along with the transaction value, the addresses involved, the type of contract, and the transaction ID.

  • Incorruptable

Security and corruption are plaguing the Web2 space and have been for decades. By incorruptible it means that once a transaction/activity has been performed it is stored as a hash on the blockchain.

If someone wants to change any aspect of the transaction, the fraudulent transaction would require more “power” than the rest of the network – which is impossible.

Gas Fees

Gas Fee is the transaction fee that users pay when a transaction is performed. These differ from blockchain to blockchain. The fees go to the “miners” that provide the computational power to make the transactions possible.

Ethereum currently has a major issue with gas fees (with Eth 2.0 apparently changing that – but no one knows when it will be launched). This proves to be a huge scalability issue for the chain and causes smaller projects to opt for Layer 2 options like Solana, with Solana’s Gas Fees being pretty close to $0.00.

Gas fees are represented as GWEI – Gigawei – and represent 0.000000001 ETH. These costs are determined by cost and speed.

Important Web3 Concepts: Part 1 - Gas Fees

Layers

The blockchain ecosystem is split between Layer 1 and Layer 2. Layer 1 refers to the blockchain itself (like Ethereum, Bitcoin, Solana, and Flow). Layer 2 on the other hand refers to a network or technology that operates on top of an existing Layer 1 in order to improve scalability and efficiency.

  • How it works

A part of the burden is transferred to an adjacent system or technology
This adjacent technology handles part of the network processing
After all is done the end results are sent to the main blockchain

Important Web3 Concepts: Part 1 - Layers
Source: Bitlevex

L2 takes a lot of pressure off the main blockchain and this means the network doesn’t become congested and it becomes more scalable. Polygon and Immutable are the leading L2 solutions for Ethereum. L2 solutions allow the small guy or project to take part in Web3 without having to pay exorbitant gas fees.

Tokens

Tokens represent tradable units on the blockchain. You may have realised already that cryptocurrencies are essentially made up of tokens. The tokens like Bitcoin and Ether are fungible – meaning 1 ETH holds the same value as another ETH – unlike NFTs.

Platforms like Thirdweb make it easier for projects to launch their own token, and decide on the quantity and distribution.

With NFTs, they are Non-Fungible, so each would hold a different value (even if they’re part of the same collection).

In the next part, we’ll discuss smart contracts, Hashes, exchanges, DAOs, and marketplaces.

Web3 - The new silicon valley

Web3 – The New Silicon Valley

Metaverse, Trends and Forecasts / By

Lately, there has been a mini exodus of skilled professionals leaving Web2 giants like Google and Amazon to get involved in Web3 and Crypto startups – and that could be to the flurry of funding and interest in the space of late, or simply wanting to get in early.

Up until recently if you bagged a job in Silicon Valley working for the likes of Twitter, Meta, Uber, Google, and Co. you’d see it as striking gold.

And although for some budding tech workers that are still the case, a large number are jumping ship to cash in on the hottest place to be: Web3. This includes NFT projects, Exchanges, Crypto startups, DeFi, and other Web3-based businesses.

Executives and developers are looking to get in early and leave secure, high-paying jobs to possibly get in on the ground level for the next wave of web.

What is Web3? Here Are Some Ways To Explain It To A Friend | ConsenSys

Some notable moves to Web3 include:

  • CMO of Novi (Meta’s digital wallet project) took the same position at blockchain payments company Circle
  • Former GM of Amazon’s Edge Services is now the CTO of Gemini
  • Lyft’s former CFO and Uber’s former Director of Corporate Development have since joined leading marketplace Opensea.
  • Airbnb’s former SVP of Policy and Comms left for a crypto venture capital fund
  • YouTube’s former head of gaming left for Polygon Studios.

This is however just the beginning. With executives and business leads already taking the leap, the rest will follow. And this could either push Web2 giants into a downward spiral and go on a hiring spree, or it will force their hand to adapt and grow in Web3 as quickly as possible.

Just as there was a shift or drive for talent when Web2 started gaining momentum, the same is happening with Web3 and Crypto, and more than likely will continue to happen as new industries emerge.

This gives a sense of excitement and a challenge for developers, strategists, and executives to put their stamp on this new industry.

There are already a few recruitment agencies that are focusing on placing top talent at leading Web3 and blockchain startups. These include:

  • Web3.career
  • Remote3.co
  • Remoteok.com
  • Crypto.jobs
  • LinkedIn
  • Discord servers
  • Thirdweb

The list does go on and it is advisable that you DYOR before handing in that resignation at your cushiony job and head into a Web3 startup. Take your time to understand the roadmap, team, product/service, and where you fit into the mix.

A lot of projects are currently on the hunt for fixed-term contract candidates whereas others are looking to start building their team for the foreseeable future.

Some notable positions at these businesses include full-stack developers, blockchain and smart contract developers, UI/UX designers, marketing strategists, community managers, and content creators. No matter what your role is right now in Web2, chances are there’s a spot for you in Web3.

Find The Latest NFT Drops Here

Find The Latest NFT Drops Here

NFT, Trends and Forecasts / By

Hundreds of NFT projects are launching daily from all corners of the world and on a variety of different blockchains and marketplaces. It may become tricky to stay on top of them and to know when they’re launching, the chain is used, price, utility, etc.

No one has the time to go and scour through OpenSea, LooksRare, Solanart and co. to find the hottest new projects. Apart from features on popular platforms, we’ve put a list of 10 platforms and methods you can follow if you’re interested in staying in the know re the latest NFT drops, even the secret or exclusive ones.

These include the likes of:

  • NFT Calendar (nftcalendar.io)
  • NFT Evening
  • Crypto Potato
  • Next NFT Drop
  • NFT Solana (nftsolana.io)
  • Upcoming NFT
  • Early Minter
  • NFT Drops Calendar
  • NFT Insider
  • NFT Sniper

NFT Calendar


NFTCalendar is the first release and event calendar for the growing Non-Fungible Token industry. They cover the most interesting events and NFT drops across marketplaces and platforms.

Website

NFT Evening


NFT Evening is dedicated to supporting mainstream NFT adoption by making content fun & accessible. Learn about NFT collectibles, NFT art, and the best blockchain games that even let you earn free crypto!

Whether you want to invest in NFTs, create NFTs or simply collect them, NFT Evening is the first stop for all the NFT news you need!

Website

Crypto Potato


CryptoPotato was established at the beginning of 2016 by crypto early adopters. CryptoPotato has recently become one of the world’s leading information sources for crypto investors.

They insist on original high-quality content, and our site has set a goal to always look from the crypto investor’s point of view. We believe in Bitcoin, we believe in crypto, we believe in blockchain technology.

The platform covers crypto news, margin trading, guides and DeFi news along with access to scholarships and IEO lists.

Website

Next NFT Drop


Explore the latest NFT launches and hottest NFT drops from an expansive NFT projects list. Next NFT Drop is the pioneering NFT platform that provides traders and collectors with relevant resources regarding upcoming launches, new Non-Fungible Token releases, and additional information regarding each project.

Simply filter through the NFT projects to find your preferred drop.

Website

NFT Solana


NFT SOLANA Calendar keeps you updated with the most promising NFTs projects released on Solana. The platform also allows you to add the projects to your Google Calendar so you don’t miss a moment.

Track the live stats across socials, mint price (SOL), quantity available etc. of the upcoming Solana-based projects.

Website

Upcoming NFT


The upcomingnft’s aim is to help creators and contribute to their growth in the crypto art sector. As a result, any developer can freely add his or her drop or event to the upcomingnft.

This website is dedicated to giving you information about generative art and collectibles. Get access to NFT launches; NFT Giveaways; NFT Events & NFT Auctions.

Website

Early Minter


Join thousands of other NFT Project creators and list your NFT Project for FREE on EarlyMinter. They also offer a featured placement where your project will be placed prominently on all categories and our homepage.

Website

NFT Drops Calendar


With over 150,000 organic monthly users, they keep an eye on everything happening in the industry and cover current news and events for our community to stay updated.

Website

NFT Insider


NFT Insider aims to give you everything you need to navigate the NFT landscape in a fun, safe, and informed way – from the latest drops and in-depth interviews to community highlights, exclusive first-looks at the latest blockchain games and a whole lot more.

Through their articles, videos, podcasts and livestreams, if you want to know what’s happening across the NFT space, NFT Insider is the place to be.

Website

NFT Sniper

On NFT Sniper you’ll find all info on upcoming NFT releases and projects that are released yet. Check the rarity of individual NFTs, check on which marketplaces they are listed, and find their latest prices.

Find The Latest NFT Drops Here


Website

——–

There’s definitely no shortage of platforms to subscribe to and browse if you’re looking for upcoming drops, hot projects, and information on your favorite projects.

But as always, DYOR when it comes to minting.

Web2 vs Web3 – Whats the real difference?

Trends and Forecasts / By

The internet we’re all using today, including the social media platforms, is Web2. This version of the web is ruled by data-hungry corporations that see your personal information as a fair exchange for their services.

Web3 on the other hand refers to decentralized apps (dApps) that run on the blockchain. This allows people to participate and contribute without selling off their personal data. Web3 has been hotly contested in all corners of the globe and in most industries, and the big question on everyone’s lips – why do we need a “new web” and “can we trust it?”. There are a number of key benefits of this new form of web:

  • Anyone who is on the network inherently has permission to use the service (no extensive permissions required)
  • No one can block you from using a service (Facebook has become known for censoring news, blocking political figures and so on – with Web3 that will no longer be the case)
  • Payments and built in via the native token (ETH)
  • Pretty much anything is programmable (Turing-Complete)

On the flip side, this is new territory and it does come with it’s set of challenges and limitations:

Web1 vs Web2 Vs Web3


Let’s look at this practically at a few practical examples:

Web2 Web3
Twitter can censor any content Web3 tweets would be uncensorable due to decentralized control
Payment services/providers may disallow payments for certain types of work Web3 payment dApps require no personal data and can’t prevent any payments
Servers for gig-economy apps could go down and affect worker income Web3 servers can’t go down – by using Ethereum, they are on a network consisting of 1000’s of computers as their backend.

The whole ecosystem is changing and the apps/platforms we have come to know over the last two decades may eventually start to slip away, not immediately but eventually, to make way for their Web3 counterparts (known as protocols). When it comes to this, there are a few key industries that have hand incumbents that have set the standard and owned their space – these industries being data storage and web hosting; data processing and information markets; domain name systems (DNS) and applications (music, concerts etc.).

Data storage and web hosting is currently ruled by the likes of Amazon Web Services (AWS), Dropbox & S3 – but they’re being infiltrated by new kids on the block Sia, Filecoin and Arweave. Data processing and information market heavyweights Snowflake and Google could be nugged out eventually by the likes of Ocean, Erasure and Streamr.

Domain Name Systems (DNS) like Verisign, GoDaddy and ICANN have met their Web3 counterparts Handshake, ENS and Unstoppable Domains. And finally, applications like Spotify, Medium, and UpWork/Fiverr could eventually be replaced by the likes of Audius, Royal.io, Mirror and Braintrust.

Another set of key aspects when comparing Web2 to Web 3 include profiteers, governance, network establishment and composability. When it comes to profiteers Web2 is mostly the investors (capital and founders) whereas Web3 profits go to the users/fans of the projects. Governance in Web2 places executives as fiduciaries and Web3 places users at the forefront by way of community leaders and influencers.

Web3 puts a huge emphasis on incentives to users and members/advocates to grow the network whereas currently Web2 networks are established through immense investments into marketing spend. Finally composability – Web3 relies solely on free and clear content built and distributed on top of DAO (Decentralized Autonomous Organisations) and has limited deplatform risk compared to Web2 partners using API with a high risk of being de-platformed.

Web3 dApps

Over the last 2+ decades, we have progressed from Web 1 (Information economy) through to Web2 (Platform economy) and have now arrived at Web3 (Ownership economy). Large corporations built on shaky values, banks, and many other institutions are going to be flipped on their head eventually if they don’t decide to adapt themselves.

The likes of Yahoo, MSN, and Craigslist were once untouchable in Web1 but were wiped out completely in Web2 by the emergence and dominance of Facebook, Instagram, UBER, Snapchat, and the like. Now we could see the same happen in due course when it comes to Web3. Facebook (and some other well-known platforms) have already taken action to prevent this from happening. More notably was their (Facebook) name change to Meta – which positioned themselves perfectly for the Metaverse and it made their intentions known for what’s to come.

5 NFT Trends For 2022 - Beeple

5 NFT Trends For 2022

Trends and Forecasts, NFTs / By

Did you know that NFT was the word of the year for 2021? That alone shows that we can expect a rip-roaring year in 2022 for NFT-related projects. Projects raked in the masses, established huge communities and made decent revenue at the same time.

There were also a few that reiterated the darker side of the hottest trend since Bitcoin by creating hollow projects with little to no utility and even going as far as creating deliberate rug-pulls. 2022 will more than likely be the year that NFTs and the long-term viability of the concept gets realized with mass-adoption and increasing utility.

We’ve scoured the web, liaised with industry professionals and formed our own ideas around what the year has in store for Non-Fungible Tokens:

  • Mainstream NFT adoption
  • Charities benefit
  • Revival of the art industry
  • Transformation of P2E gaming
  • Multi-chain marketplaces


Mainstream NFT Adoption

NFTs have already kicked off with a bang in 2022 and there’s no doubt the trend will continue for the foreseeable future. But what will it all come to? How will the majority that are online realize the true value of this digital token?

Charities to benefit from NFTs

Charities are now exploring the potential of NFTs – with the main benefit being the decreased overhead costs due to the decentralized manner in which they would raise funds.

Smart contracts make donating to a charity or fundraising that much easier – you’re able to automatically assign a split for every transaction. One of the major flaws of charities (pre-blockchain and NFTs) is that there was always a doubt that the funds were going to the right place – now with transparent, publicly traceable data everything’s out in the open.

Another revenue stream could be tokenized video-plays – where royalties will automatically be paid out every time the video is played or shared.

Revival of the art industry

NFTs have given artists a renewed sense of hope – and reaffirmed what Bitcoin’s whitepaper envisioned for the industry – true peer-to-peer transfers. Artists are able to sell directly to their fans with zero interference or splits by a middle man.

Fractionalized NFTs also allow artists to involve their fans in the process of a project and allow them to become part of the future success. Artists are also now able to benefit perpetually from future sales of their NFTs through smart contracts.

NFTs aren’t just for the intangible assets – they can also be used to tokenize ownership of tangible assets too – such as Beeples physical artwork that was accompanied by the NFT (which sold for $29 million in November 2021).

Social Perks & Subscription Models

With NFTs offering utility to HODlers, new types of subscription models and social perks could be established in the coming months as adoption increases.

Time Magazine is leading the way here by offering NFTs from 40 distinct artists and makes the NFT owner a community member. TimePieces is basically an alternative to the usual digital subscription model, unlocking all content for the NFT holder and giving them access to exclusive experiences and events.

Bored Ape Yacht Club (BAYC) offer social perks to their holders. BAYC NFTs essentially give holders exclusive club membership to the Yacht Club – a social club in the Metaverse.

Multi-chain Marketplaces

Right now the largest NFT Marketplace, OpenSea, currently only supports major chains Ethereum and Polygon – with Polygon being it’s “gas-free” marketplace.

However, with Solana and the like gaining popularity on their native chains coupled with the exorbitant gas fees on ETH and the difficulty to bridge MATIC (Polygon), we could potentially see the likes of OpenSea opening up to allow Fantom and Solana onto their marketplace.

Whether or not this leads to a monopoly (which is what Web3 is trying to get away from) is yet to be determined.

———-

The rise of NFTs and them slowly proving their value (utility) could lead to a big year for those that are either active in the space or considering entering it.

NFTs are just one of the building blocks of the emerging Metaverse and investors and creators alike are trying to put their stamp on the market and potentially become the Jeff Bezos or Bill Gates of Web3.

Web3 Trends for 2022

Web3 Trends for 2022

Trends and Forecasts, Metaverse / By

2021 will undoubtedly go down as the year of the NFT. We were also introduced to a plethora of weird and wonderful projects in the Metaverse & Web3 space. The world we know was re-imagined and a change was set in motion by visionaries, architects and venture capitalists. 

DAOs (Decentralised Autonomous Organizations), NFTs, and dApps (Decentralised Apps) laid the groundwork for what’s to come in the Metaverse. Even brands like Facebook, Adidas, Nike, and GUCCI entered into the space with a bang.

But we’re now in 2022 and it’s beginning to head up with VCs and developers dubbing the year as the “make it or break it” year for Web3. 

The year hasn’t disappointed one bit. With OpenSea announcing a monster $13 billion valuations, NFT sales skyrocketing, and brands showcasing their Metaverse.

There are a number of trends that could set the tone for the year to come when it comes to Web3 and the Metaverse. These include scalability of new L1 chains, improvements to bridging tools, low-code/no-code platforms, community, brand involvement, and Web2 giants waking up and trying to enter the Web3 space to name a few. 

L1 Chains Showing Growth

Ethereum is currently the go-to chain for new Web3 projects and that will more than likely lead to increased scalability challenges.

However, with Eth2 supposedly on the horizon and a few L2 rollouts that could be mitigated. Other L1 chains are now starting to show steady growth and adoption within the community – and we could even see new L1 chains emerge with a specific focus on a niche like social media or gaming. 

Bridging improvements

We’re all beginning to grow tired of the speed and difficulty of current bridges. 2022 could potentially see the improvements we’ve all been waiting for when it comes to cross-L1 and L1-L2 bridges as well as seeing some new developments in the overall usability of bridges. 

Low-code or No-code platforms

If Web3 has become known for one thing it’s that projects are really difficult and expensive to launch if you have zero or little coding knowledge.

That will all change (and it has already begun changing). Platforms like Moralis and ThirdWeb have taken the complexities to mind and built solutions that are easy to use, provide testing areas and allow users to deploy their own NFT projects, marketplaces, DAOs and even coins with ease. 

NFT Communities

Community is and will always be the backbone of our society. With Web3 on the rise and NFT communities growing by the day, we could see a significant contest between Web3 and Web2. Creator & fan tokens will be in the foreground and NFTs will ultimately become the next evolution of a user’s identity and “passport” into the metaverse. 

Users will start coming together in communities of all sizes based on the types of NFTs they own. We’ve already seen this with blue-chip projects like Bored Ape Yacht Club. User-generated and run metaverses will be the future of social networking and will potentially start to threaten the ad-driven centralized versions we have today. 

Brands in the Metaverse

Brands are beginning to realise that NFTs are a great way to market and establish a deep sense of brand loyalty. NFT collectibles have already been released by brands such as Coca-Cola, Campbell’s, Dolce & Gabbana, and Charmin whereas brands like Adidas and NIKE have gone all-in.

Adidas announced a strategic collaboration project with Bored Ape Yacht Club and Nike created their own sports complex in the Metaverse. Well-known gaming brand ATARI has also swooped in and grabbed tons of land in Sandbox. 

2022 will see the rise of brands using NFTs to incentivise HODLers and loyalists. The space will essentially become the new Instagram where brands become NFT Native.

Celebrities (being brands themselves) have already jumped in the bandwagon of major NFT projects (Steven Bartlett and Eminem announced they’ve been “Ape’d” by BAYC) but we expect to see a steady rise with more celebrities partnering with NFT projects or even creating their own. 

Web2 companies transitioning to Web3

Everyone saw the huge announcement with Facebook officially rebranding to Meta – positioning themselves for what’s to come. Microsoft also recently announced their record-breaking deal to acquire gaming heavyweight ActiVISION Blizzard which will help them in the P2E and other gaming areas of the Metaverse. 

2022 should see the rise of brands slowly lay their claim to parts of the Metaverse and dip their toes. It won’t be the scale of Facebook however, as some may just create closed network versions or adaptations of the Metaverse catered to their market. 

DAO 2.0 on the cards?

DAO has been one of the buzzwords for 2021 into 2022 but this year we could see them becoming more mainstream and accepted. More people will join DAOs and the concept could change the way payroll, employment, salaries and coordinating activities on a large scale is done. Tools will also begin to emerge to help with the transition to a DAO-central world to help execution. 

—————

Web3 and the Metaverse will be the talk of the town this year both for individuals and organisations of all sizes. If you’d like to dive deeper into forecasts and interesting projects be sure to check out our other blog pieces and leave your comments below. 

Marketing in the Metaverse

Marketing in The Metaverse

Trends and Forecasts / By

Digital marketing has been progressively building up over the last decade or so, with the likes of Facebook, LinkedIn, Google, TikTok, Twitter, and Instagram stealing the show.

However, the metaverse is a completely different ballgame. There are a number of sub-niches that open themselves to different products, marketing options, and consumer groups.

As we’ve seen with all major breakthroughs in new “waves” of marketing, the ones that come out on top are the ones that take the time to understand the space, the consumer, and corresponding opportunities that come with it. And this will be no different for the Metaverse. 

The “metaverse” is really only fully understood by a few and currently exists mainly as 3D gaming platforms, VR worlds, NFTs, and AR experiences with some big brands taking huge bets and going all-in. These include the likes of Nike, GUCCI, Adidas, Disney, and more recently Microsoft. 

Why is the Metaverse expected to flip our lives in a complete 180 though? In short – it will change the way people work, create, socialize, shop and communicate with one another.

But before we dive into the expected changes, let’s take a detour into why the metaverse is currently a viable marketing option for brands. Due to the space being new and relatively unexplored until recently, campaigns are being run at a very cheap rate which means it’s a lucrative option to reach prospective millennial and GenZ consumers. 

It also doesn’t limit campaigns to the laws of physics – spaces are essentially liquid and can be adapted at the drop of a hat. 

When it comes to digital marketing specifically, there are a few notable changes we can expect when it comes to the Metaverse:

  • Experiences & Sensory Advertising
  • Customer Journey
  • Increasing influencer involvement
  • Inclusivity, Diversity & Representation
  • Community & Expectation Management


Experiences and Sensory Advertising

Today’s consumers are growing increasingly indifferent to traditional forms of advertising with over 80% of smartphone users skipping ads. With current ads only appealing to 2 of the 5 senses, we could begin to see an increase in haptic technology to engage with consumers and make the brand stand out from the crowd. This will ultimately simulate a social presence to a seemingly impersonal technology exchange. 

When it comes to experiences on the other hand, consumers are now craving and lusting for rich, interactive, immersive experiences. They wish to play an active role in their favorite brand(s) and to have their say. Que the metaverse – a world built on just that – EXPERIENCES. You don’t merely watch or view but instead you take it all in and your presence helps to mold it. 

The metaverse will replace flat (2D) exchanges of the current Web with 3D (and in some cases 4D) experiences that feel more and more like real life. Brands are already arriving at the gates of the Metaverse due to limitless capabilities and experiences open to them. 

Brands like H&M, Nike, and Adidas are already putting their stamp on how they see the Metaverse playing out with virtual shopping centers, sports complexes, and even collaborations with leading NFT PFP projects. 

The whole funnel (Customer Journey)

Currently search & social are appealing to the bottom and top of the funnel but neither is winning at both. Search is great for identifying potential customers towards the bottom of the funnel and who are already showing intent, whereas social has the potential to shape perceptions and raise awareness. Social commerce has however changed that slightly. 

The Metaverse on the other hand can tackle both in a streamlined manner. Brands will be able to reach new audiences in new ways while at the same time affording them the option to learn more and eventually make a purchase. Brands like VANS are already creating seamless funnel experiences for their intended audience within the Metaverse. 

Platforms like Roblox and Fortnite will continue to play a major role in assisting brands. 

Influencer Involvement 

Although there are only around 150 virtual influencers, we could expect this number to grow exponentially in the future as the Metaverse expands.

Yoox, an online luxury discount store, launched their influencer Daisy back in 2018 and since then she’s featured in a number of high-profile brand campaigns including the likes of Calvin Klein and Tommy Hilfiger.

On the flip side, brands are also using real people for their avatars – in other words, the “person” is representing the brand in a more immersive way. Dior and Burberry have both made inroads into this with

Dior created a digital doppelganger of Chinese actress Angelababy to attend their pre-fall show in Shanghai, whilst Naomi Campbell and Kendall Jenner monograms were starred in Burberry’s TB Summer collection. 

There’s no doubt that with the increasing possibilities within the Metaverse brands and influencers will work even closer together and the latter becoming even more immersed in the brand’s overall identity. 

Inclusivity, Diversity, and Representation

Consumers are putting more and more pressure on brands to promote diversity and inclusion in their online advertising. A survey from Meta found that over 50% of consumers felt as though they weren’t fully represented in online ads. 

The Metaverse allows brands (and agencies) to immerse themselves into unique experiences that help make the consumer the center of their campaign.

For example, a major fashion label can make it possible for the everyday user to try on their latest lines and share it among their friends and network – this personalizes the brand for the everyday consumer and makes it more “real” which could lead to higher purchase intent and conversions.

Agencies will play a huge role here in identifying the gaps or misrepresentations that brands are currently experiencing.

Community & Expectation Management

With the Metaverse and NFTs growing in popularity, there is also a growing concern that brands and projects won’t be able to deliver on expectations. Community is, and will continue to be, a major contributing factor to a brand’s success or demise.

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There’s no doubt that brands and their respective agencies are in for a rollercoaster as we witness the growing popularity of the Metaverse. 2022 will probably be the “make or break” year for brands that are exploring the space. 

Although this is a long-term bet for some brands, others are already laying the foundation for what’s to come and the consumers are joining in.