Metaverse is Still a Thing?

(Source: http://marketing-interactive.com/)

Is Metaverse still a thing? A Qlik study of C-suite executives titled "Data Literacy: The Upskilling Evolution" found that over 99% of them will hire new roles in the next decade, including chief metaverse officer. Brands are taking active steps to solidify their presence in this virtual world. In recent months, MARKETING INTERACTIVE has reported on Gucci, Casetify, Armani Beauty and My Little Pony making their mark in this new space. This has also given rise to whether or not brands need to hire experts such as "chief metaverse officers." In fact, Gucci recently decided to hire a head of metaverse, Robert Triefus, professional marking its seriousness in making this new world work for its brand.

As the metaverse space continues to grow, many non-professional creators also expect it to bring new job opportunities. Concurrently, 77% of creators have explored the space at least once and 34% of these creators say that they are already participating weekly through early metaverse experiences including gaming, socialising and shopping according to an Adobe study titled "Monetisation in the Creator Economy". Meanwhile 52% of creators who participate in the metaverse on a weekly basis say they are already moving towards the goal of owning their own creative businesses according to Daisy Enggina Director of Global Brands Solutions Gushcloud International. In an interview with CNBC , Enggina said: "The metaverse and Web3 opens up opportunities for self-acclaimed artists to be able to express their arts independently without tied to any institutions."

Gushcloud has been exploring the metaverse space and working with creators and influencers to develop their NFT projects in the metaverse. It also works with key government agencies globally to figure out how to have their imprint in the metaverse. How this is different from establishment from social media lies in the transparency factor where transactions are never forgotten and are locked in, and with that, artists can receive their royalties in a transparent manner.

"Because of the nature of the metaverse, many content creators are interested in this new space," said Enggina. "However, only those from music, modern art, gaming and finance/business verticals have worked, planned to work or independently delved into the Web3 space actively." Gushcloud has been actively exploring the metaverse space, working with creators and influencers to develop their NFT projects in the metaverse. It is also working with key government agencies globally to figure out how to have their imprint in the metaverse.

How to Stand Out

However, Prakash Somosundram, CEO and co-founder of Enjinstarter, said that his company is looking at the intersection of the metaverse and subcultures. "Avatars can be customized in a near-infinite number of ways through wearable NFTs," he said, "making them perfect vehicles for self-expression." One brand that he is working with--Swallow--is capitalizing on the demand for wearable tattoos in the metaverse by onboarding physical tattoo artists. Somosundram added that his team sees the metaverse as a new frontier for consumers and businesses but also for companies like his firm that provides support services. But standing out requires consistent innovation and great work: The metaverse moves quickly so it's not enough to use the same strategy again and again.

In order to make a space stand out, you have to have a community-first mentality, says Somosundram. The thinking goes that if you can build a community around your metaverse creations, you will have a solid foundation on which to adapt and grow. If you rely on hype-driven profit-centric strategies, it comes at the cost of sustainability. According to Gushcloud's Enggina, creators can stand out by following the 3Cs: community, collaboration and connections.

Community - to have authentic meaningful relationships with the community and being able to bring the community into the space

Collaboration - to want to develop authentic collaborations with other creators in the space

Connections - to think about how to connect with the community both in real life and virtual world.