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Just when you thought you had digital marketing figured out, here comes the metaverse.
What is the metaverse? Is it one place or many? Will we all fly around virtually while stumbling physically with clunky VR headsets on? And what’s crypto got to do with any of it? All of these questions and more will be answered as we count down our top marketing predictions for 2022 and beyond. We rounded up top opinions from our digital marketing experts to keep you on your toes for tomorrow’s top trends.
3. McDonald’s—You want fries with that Metaverse?
Just last week, McDonald’s served up some interaction with its younger target market by sponsoring a virtual hangout for OfflineTV, content kings in the metaverse. The metaverse pop-up experience allowed users to participate in a VR scavenger hunt for a chance to win exclusive digital merchandise. Never heard of OfflineTV? Well, over 2 million YouTube subscribers have, and we’re betting McDonald’s utilizing those numbers to its own marketing genius to tap into the fandom. What better way to stay top of mind with millions of late-night hungry gamers looking for grub? Show up where they spend time. In this case: the metaverse.
Not sure what the metaverse is?
You’re not alone. It’s a buzzword and yet … it’s a place. Wait, but not just one place. It’s really an augmented version of reality that immerses users in an interconnected space. The metaverse could be explained as an experience in a virtual universe where users are repped by 3D holographic avatars. Snippets of it currently exist in games you might already know, like FortNite and Roblox. Yet, think of that experience magnified and evolving to a much more diverse and complex system where people can enjoy entertainment like concerts, create art, trade with crypto, buy NFTs (more on that in a bit), and interact with others from around the world. All without leaving their couch. Grown-up versions of it have already launched, like crypto-based Decentraland.
If you think about it, the pandemic has already pushed many people from casually using the Internet to being immersed in it daily in the way they connect with others, shop, learn, conduct business, and seek out entertainment. The metaverse is a natural progression.
If we were to take a cue from the marketing playbook of McDonald’s, we’d predict that the metaverse is ripe for marketers everywhere. How your brand captures a slice of the metaverse depends largely on who you want to reach and the marketing goals you are trying to accomplish.
Our prediction: Big brands will continue to boldly enter the metaverse now. In the next five years, we predict a shift to mainstream metaverse marketing. Get thinking now how your brand can dip its toes in the water, or straight up take the plunge.
2. NFTs—Leaving Your Mark on the (Digital) World
Hear the word “NFT” and think weird little JPEGs of cats? Or, just not sure what it is all together? That’s OK, not many of us around the agency did until lately. An NFT is a ‘non-fungible token’ that’s stored in a digital wallet on the blockchain. Only one official owner can hold it at a time, and like previously mentioned, the tokens are secured by the blockchain.
NFTs allow just about anything to be tokenized—not just artwork. Digital real estate, music, and even sandwiches…Let’s go back to the golden arches as an example. Last month, McDonald’s issued a McNFT for its McRib sandwich and gave away its saucy NFT to ten lucky winners. Since McDonald’s only brings out the infamous sandwich every few years, they counted on its cult status offering to entice excitement in its followers. Although the cap value is set at only $20 for resell, the marketing value of free PR for McDonald’s is well … priceless.
NFTs: Making the Metaverse
Now, how do NFTs relate to the metaverse? For pure research purposes, we visited Decentraland lately and jumped our avatars into various locations—casinos, art galleries, and plazas. Decentraland itself is built on NFTs. You need them to buy plots of land in the universe, pay for experiences, and other assets. Each venue we visited was a goldmine of potential advertising including billboard media and more. Brands could advertise their own NFTs for the taking which can be held or exchanged for other digital or real-world goods.
Brands that jump on this trend early can create an immersive brand experience for their customers. Think of an NFT as a way to create additional identity for your company with the ability to unlock a members-only experience for NFT holders. Once those benefits start dropping into those wallets, it creates some serious FOMO centered around your brand. People can (and will!) buy and resell your NFT, giving you multiple opportunities for exposure. You hold the power to keep dangling the carrot—what benefit will you think up next? It creates additional desire and built-in value. Just tokenize and then tap into your imagination.
Our prediction: We see NFTs as a total brand experience aimed at prospective customers. NFTs can be hyped to create a sense of membership with special benefits entitled only to the owner.
1. Blockchain as the Newish and Bada** Kid on the Block
Our number one trend lands us solidly on the block. Great marketers don’t think of the next play for an already written playbook—they throw out the book and write their own rules. Blockchain is a game-changer, and we predict it to be the foundation of everything else we’ve mentioned in marketing so far. Heard of Web3? It’s where the World Wide Web is headed. But to know where we are going, we have to take a trip back to where it all started.
Web 1.0—Hey, You’ve Got Mail.
Back in the heyday of the 1990s when Marky Mark was still kicking it, the Internet was a thing but it was a disorganized wild child. Dial-up speed was reality, navigation was sloppy but hey, you were connected to information and something called email.
Web 2.0—Social Networks and Big Tech
In the mid-2000s, companies like Google, Amazon and Facebook appeared, so now apps made it easy to connect and transact. Critics would say the big tech companies got too powerful, and so comes the next evolution, Web 3.0 or Web3 for short.
Web3—Power to the People
Web3 is about shifting the power back to its users, peons like you and me. Instead of a small number of large tech companies micromanaging us, this new version of the Internet would be based upon the blockchain, which already undergirds Bitcoin and other cryptocurrencies. It would be operated by users collectively, and people would be rewarded for participating by receiving tokens. It will likely be decentralized, meaning you won’t need to rely on Google or the social networks you use today to connect, search for info, or transact. In this ideal world, you control your data, no one can censor you, and you can jump easily between different apps all using a single account.
Our Prediction: Blockchain will be utilized as the New Platform for Brands. Blockchain has long been associated with cryptocurrencies, but the underlying technology will be a huge disruptor for digital marketing.
As marketers, we will need a paradigm shift on how to use these technologies to incentivize users to interact with brands online. Browsers, like Brave, have already incorporated a token reward system (BATs) for users who opt-in to viewing ads. It’s a completely new way of marketing designed to create assets that will grow in value for the users.
Conclusion
When it comes to navigating digital disruptions and embracing the whiplash of changing technologies, you need a solid digital marketing team in your corner. At Ardent Creative, we’ve already developed solid strategies for some of our blockchain-based clients. Reach out and let’s start talking about how we can help evolve your brand.
