Since Facebook announced its name change to Meta due to its commitment to the metaverse, this concept has been climbing positions to become one of the main trends that will mark 2022 and, perhaps, the next five years. But, in reality, Zuckerberg has not invented anything new, since we have been seeing brushstrokes of the metaverses for years without realizing it (or calling them something else).

When talking about the metaverse, it seems that we are referring to a parallel universe in which we are all going to enter and live together as if it were a fictional city from 'The Sims', when it is not the case either.

There are many doubts that arise around this term, from what it is to whether it can be accessed now or how a brand can take advantage of it. To resolve these issues we are going to count on the help of Marc Pérez, founder and CEO of Playoffnations, an agency specialized in connecting companies with the world of gaming, eSports, influencer marketing and the metaverse.

The distinction between metaverse and metaverses: can it be accessed yet?

The first thing to do to begin to understand it is to know that there are two conceptions. On the one hand, the term as such that we know and that Zuckerberg coined. «It refers to the fact that there is no distinction between the physical and the virtual and the technological, that is, that we are able to live a life beyond and free ourselves from the physical space, where what I do will have a life of its own and an impact on my virtual avatar », assures Perez.

"We don't know what is or will be, but we do know what technologies will be part of that future metaverse, such as 5G, blockchain, NFT, mixed and augmented reality," he continues. “The moment technology advances and we are able to unite it, the metaverse will come, which is a totally abstract concept that no one can define,” he says.

On the other hand, we find the metaverses, “virtual mass online spaces in which cutting-edge technologies are used”. The biggest example of these, and the best known, is the world of video games, where there are brands developing advertising actions.

The CEO points out that they have started with video games, social networks and young people "because it is the best breeding ground and experiment to understand virtual behavior patterns and then create generic examples."

Therefore, the answer to whether the metaverse can already be accessed is that there is not a single one that we can enter, especially since it does not exist. We can venture into those that are working, such as Fortnite.

Types of metaverses and examples

There are many types of metaverses, but you have to start from a basic differentiation. On the one hand, there are the centralized metaverses. "They are the ones that have an owner and everything you can buy within that environment is not your property, but rather the property of the owner of the metaverse," says Marc Pérez.

Within this field, it is worth highlighting the presence of video game titles such as the aforementioned Fortnite, a virtual space in which you can interact with people, buy accessories and which can be themed if a brand wants to do something.

"There are very powerful brands that are basing their business model on entering this video game and selling through other brands entering their space in it," says the professional.

He then goes on to point out that it is necessary to understand the change in user behavior with the virtual environment, since, as he underlines, "he prefers to buy a virtual weapon that is not his and in a game in which if that weapon dies it is worthless." nothing, which is nothing more than speculation, before buying that replica or a soccer ball in real life».

Decentralized Metaverses

On the other hand, we find the decentralized metaverses. They would be those in which users can buy a property and it becomes theirs directly, which gives rise to "a legal vacuum" in which "governments and others will have to enter." “I have the power and control over it and nobody can do anything with it. I can set limits and charge admission to access my space, "says Marc.

Decentraland, for example, consists of a decentralized virtual reality platform that has plots that are for sale in exchange for the MANA cryptocurrency. The virtual property, in this case, would consist of the NFTs. "There is speculation on that plot, that is, what it was worth 3,000, if I buy it in the center of what is Decentraland, or in the university area or on the outskirts, I can set up my factory," says Pérez.

Metaverses according to business objectives

From Playoffnations we work with three fundamental pillars when working on metaverses: technology, brand and viralization. The first step to make one is to know what the objectives of the interested brand are.

In the event that you want to show the production process of a factory, within B2B, "the best thing is to make a custom virtual space with a replica of the real world in which you can interact with everything." "It can be a differential value for that brand to sell more", specifies Pérez.

Within B2C, we find Burger King's foray into Fortnite, a video game in which they have created a virtual environment inspired by the chain's restaurants instead of creating their own metaverse. Carrefour also did not want to miss out on the opportunity to be in that space, but with an ecological supermarket with which users could recover life based on healthy food.

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The viralization of Wendy's in the metaverses

Another company that stands out for this marketing through video games is Wendy's. The firm has entered a score of titles in which it has included its own content, such as dolls in 'SmackDown' and 'Animal Crossing'.

The firm went on to win a Grand Prix at Cannes Lions in the Social & Influencer category for its action within the 'Fortnite' "Food Fight" event. In nine hours of streaming on Twitch during the same, there was a 119% increase in brand mentions across networks.

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The possibilities of metaverses for brands

The metaverses offer great opportunities to brands. For example, Mahou could have a plot with the factory and another with the bar. A company could show how its product is manufactured from virtual reality in order to acquire investors or partners that are on the other side of the world. It is even profitable for the consumer, who will be able to see how the item fits according to their avatar, to decide whether to buy it or not.

As Marc mentions, Florentino Pérez also proposed that cameras be placed in the seats of Real Madrid season ticket holders in the stadium, to be able to watch the game from that perspective from home and with a 360º view, especially when you can't go physically.

They also serve to obtain metrics about potential customers. This is how the founder of Playoffnations points out: «I can analyze the hot zones, what is the 'awareness' or even link with discount codes, coupons, QR or direct advertising, with influencers entering and resulting in a purchase much faster and impulsive and able to do the whole 'funnel' at once».

The case of Gucci in Roblox

The power of marketing in the metaverses is reflected in the fact that Gucci has managed to make a brand bag more expensive in this universe than in reality.

For two weeks, in 2021, the company collaborated with Roblox, a virtual space in which it created a garden exhibition to transfer the company's advertising campaigns and bring people closer to its philosophy for its centenary. It was a replica of the physical experience and allowed platform users to purchase limited digital clothing. One bag was sold for 350,000 Robux, the in-game currency, which translates to $4,115, which is more than the physical retail value of $3,400.

“It is an asset that you are buying that gives you a differential value that has an impact,” says Pérez. "This occurs when a person sees their virtual self as equally important, at the image level, as their physical presence," he adds.

Marc assures that, right now, it is already possible "to have 30 times more impact in the metaverse than in physical space", something that leads him to declare that "conventional advertising does not make sense".

Regarding the acceptance of people, he indicates that time and awareness are needed, but that progress is being made "very quickly". Here a fundamental role will be played by the brands, which "will end up propitiating in two, three or ten years, with the control and influence they have over the user, that this liberation of the physical will take place."

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Other metaverses and the collaboration of brands with them

Louis Vuitton developed the game 'Louis The Game', which combines innovation and NFT art. Players can travel to a world where they explore the legacy of the fashion house and collect items that serve as keys to access more levels. In it, available both in the Apple Store and Google Play, the NFTs will appear randomly as progress is made.

For its part, Burberry has recently collaborated with the video game 'Honor of Kings', bringing its designs to the game. Balenciaga did something similar, although with a campaign that included Kim Kardashian at the Met Gala and in the video game Fortnite. In a collaboration with Epic Games, he moved his clothing to said space.

Nike stepped into the metaverse by creating its own interactive experience using virtual and augmented reality. From February 4 to 11, 2021, customers were able to visit the Nike House of Innovation in New York. Using their phones and other virtual tools, visitors could explore a virtual recreation of Smith Rock Park in Oregon.

Lastly (because the examples are endless), clothing brand Charli Cohen launched a digital shopping experience in a digital space with UK department store Selfridges to celebrate Pokémon's 25th anniversary. The immersive digital shopping experience could be accessed via a phone or computer, and augmented reality could be used to walk around the store and search for prizes.

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