6 Ways In Which Brands Can Benefit From Metaverse

1. 6 Ways In Which Brands Can Benefit From Metaverse By Taniya Jain -April 11, 2022 With big announcements by the giants in the tech industry – 2022 has already seen a massive boost in the popularity of metaverse as a concept. It’s also on its way to become an inseparable part of e-commerce. With various technological innovations working together in sync today – metaverse can enable brands to provide their customers with an exceptional online shopping experience. Technologies like NFTs, augmented reality, virtual reality and online gaming have created unique opportunities for brands to leverage. It allows them to reach their target audience in a new and immersive way. Let us have a look at how brands can leverage the metaverse – 1. Sell Goods Virtually According to a study, over $100 billion was spent on virtual goods by people on gaming platforms. This is real money that was spent and it is predicted that these numbers will continue to increase. Selling goods virtually eliminates the need for transportation and manufacturing, thereby reducing costs. This is a major opportunity that brands and businesses can make the most of. From selling upgrades to online avatars to selling virtual versions of physical products, there are plenty of ways your brand can benefit from selling virtual goods. 2. Community Building Building social connections is a big part of the metaverse and it showcases another huge opportunity for every brand. Brands can build engaging communities that allow the target audience to engage with the brand as well as other customers of the brand. Along with social media platforms, they can also use NFTs to provide VIP access to special events and conferences. 3. Virtual Showrooms Virtual showrooms are significant assets for brands as well as customers. They allow the customers to have a deep glance at the products before buying them. Instead of purchasing something unseen, customers can look at the products in a virtual setting and decide whether they like their look and feel. From fashion to furniture, these virtual showrooms considerably reduce the number of order returns and bridge the gap between online and in-person shopping. 4. Product Customization Another way metaverse can benefit your brand is through product customization and configuration. With LIVE demos, customers can customize products to their exact specifications, such as vehicles or sunglasses. Customers can also try on the product in real-time, allowing 1

2. them to gauge whether the end product meets their expectations. 5. Reach A New Audience One of the biggest benefits of metaverse for brands is that it eliminates all geographical barriers. Metaverse is limitless, unlike the physical stores that can only reach a certain number of people within the respective areas near their locations. It also provides brands with a built-in audience which they can sell their products to. Selling virtual products is one of the most engaging ways to tap into the younger demographic and attract their interest. They are most likely to become the major players in the metaverse. 6. New Opportunities For Branding The impact of social networking platforms on the industry is crystal clear. Brands use social media as a platform to promote their products or services and engage with the audience. It is a powerful tool for branding and marketing that allows brands to create new content relevant to the target audience. Metaverse is like an upgrade to these social media platforms. It can play a huge role in enhancing the brand image. Brands can capitalize on the benefits of virtualization through the metaverse. They can also put up a digital version of their products and services for the audience to experience. Therefore, you can get in touch with a leading digital marketing agency in Mumbai such as Chimp&z Inc – that can help you leverage new branding opportunities including the metaverse. With a team of experienced professionals, it can scale up your brand to new heights. About the Author: Taniya Jain is a content writer at Chimp&z Inc. Apart from writing, she likes to cook, explore different cuisines, read romance novels, listen to music, and dance. 2