Everyone wants to own the metaverse including Facebook and Microsoft. But what exactly is it?
The metaverse has been a hot topic of conversation recently, with Facebook and Microsoft both staking claims. But what is the metaverse? And when will it get here?
What is the metaverse?
It’s a combination of multiple elements of technology, including virtual reality, augmented reality and video where users “live” within a digital universe. Think “Ready Player One” but with less intuitive controls.
When can I experience the metaverse?
Mark Zuckerberg, the CEO of the newly named Meta (formerly Facebook), estimates it could take five to 10 years before the key features of the metaverse become mainstream. But aspects of the metaverse currently exist. Ultra-fast broadband speeds, virtual reality headsets and persistent always-on online worlds are already up and running
The metaverse signals a move beyond traditional advertising toward creating brand experiences that are more engaging and exciting and less invasive than what we experience with digital advertising today.
Conventional offline and online advertising methods such as flagship shops, large billboards and other types of traditional offline and internet advertising are becoming a thing of the past.
For those looking to build a relationship with the new generation of consumers today, the phrase “in real life” has taken on a whole new significance. Digital alone is not sufficient; it must also be interesting, meaningful and immersive. And this is precisely what the metaverse will accomplish for brands in the near future.
With big brands investing their time into the metaverse, it is bound to become the new haven for users, and by extension, advertisers