Top metaverse platforms for businesses: How Brands Can Build Their Presence in Immersive Worlds
The metaverse represents an unprecedented opportunity for brands to connect with consumers in new and deeply engaging ways. As virtual worlds become more immersive thanks to augmented and virtual reality (AR/VR) technology, companies that establish their presence early will reap major rewards.
In this comprehensive guide, we explore the current metaverse landscape, the benefits for brands, top platforms to consider, and proven tips to build your own branded digital space that drives meaningful connections.
Introduction: Welcome to the Next Computing Revolution
Just as the internet profoundly changed communication and commerce, the coming metaverse era will usher in a new wave of revolutionary digital experiences. Major tech firms like Meta, Microsoft, and Apple are investing billions into this burgeoning space, which is set to reach nearly $783 billion globally by 2024 according to Emergen Research.
But what exactly is the metaverse, and why should brands start establishing their presence now?
Defining the Metaverse
The term “metaverse” refers to persistent, shared 3D virtual worlds where users can connect in real-time through digital avatars. Metaverse environments integrate social media, online gaming, augmented reality (AR), virtual reality (VR), and cryptocurrencies to create expansive digital universes for live interactions, commerce, work, and entertainment.
Hardware devices like VR headsets and AR glasses will enable users to immerse themselves in these virtual worlds, transforming passive viewing experiences into active participation. Leading companies are already developing the augmented and virtual spaces that will soon allow people around the globe to game, meet, collaborate, and shopping together in revolutionary new ways.
Why Brands Can’t Afford to Wait
For forward-thinking companies, these emerging platforms present a wealth of potent opportunities:
- Reach new demographics: In particular, metaverse experiences provide access to younger demographics like Gen Z who increasingly use these virtual spaces for interaction and self-expression.
- Drive deeper engagement: Interactive metaverse campaigns can foster much deeper, sustained engagement than passive 2D ads.
- Stand out creatively: Brands can build bold digital worlds to capture consumer imagination and attention
- Collect data and insights: The metaverse provides rich data on user behaviors and preferences to inform marketing and product decisions
- Pioneer new markets: Just as early e-commerce adapters seized advantages, establishing your brand’s metaverse presence now can help cement category leadership.
In short: companies that embrace the metaverse stand to shape customer relationships for decades to come. Those that delay risk ceding ground to bolder competitors. The time to plant your flag is now.
Benefits for Brands in the Metaverse
Here are five of the most significant advantages for brands that harness immersive metaverse experiences:
1. Immerse Customers in Your Brand Story
Through the metaverse, brands have an unprecedented ability to fully immerse customers within their values, mission, and products. Companies can build engaging digital worlds to communicate brand stories that resonate powerfully.
For example, Nike acquired virtual sneaker company RTFKT and is now using metaverse activations to reinforce their position connecting sneaker culture with young audiences. Luxury brand Gucci created the Gucci Garden space in Roblox, drawing in gamers to explore exhibits reflecting the company’s creative vision.
Such branded environments offer multisensory storytelling that makes customers active participants, forming deeper connections.
2. Reach Demographics Where They Already Spend Time
Crucially, major metaverse platforms have huge built-in audiences that brands can access. Rather than having to draw users to a standalone branded space, companies can engage users within popular virtual worlds where key demographics already spend their time.
Platforms like Roblox, Fortnite, and VRChat each have tens of millions of active monthly users. By launching activations within these metaverses, brands can gain visibility among gaming communities that are difficult to reach via traditional channels.
It’s similar to early brands leveraging platforms like Facebook and YouTube to promote to engaged users. Reaching audiences in environments they’re already passionate about drives results.
3. Generate Rich Data for Deeper Consumer Insights
Metaverse environments also offer brands far more granular data about how users interact with branded digital content. Through virtual tracking and digital purchase analysis, companies gain ultra-detailed insights compared to traditional offline marketing.
Metrics around dwell times, click-through rates, virtual item acquisition, and avatar customization opens up unprecedented visibility into consumer behavior patterns and motivation triggers.
Such data will allow brands to iterate experiences based on feedback, tailor messaging and products to micro-communities, and build advanced consumer journeys grounded in real user actions.
4. Spark Viral Sharing and Discussion
Branded metaverse activations have proven potential for driving viral sharing and buzz when they capture attention. Consumers love to share novel brand encounters with their social circles.
For example, Wendy’s created a virtual restaurant in Fortnite’s Creative mode which lit up social platforms and gaming sites. The activation amplified brand visibility and strengthened Wendy’s positioning with gamers.
Such viral discussion provides powerful social proof. And user-generated content created within branded metaverse events gives brands access to authentic visual content.
5. Future-Proof Your Marketing Approach
Lastly, companies establishing themselves early in the metaverse can cement category leadership in the consumer experiences of the future. Just as pioneering ecommerce and social media marketing resulted in lasting advantages, brands bold enough to plant their flag first in new virtual worlds stand to shape long-term market dynamics.
With new immersive platforms and hardware advancing rapidly, virtual and augmented reality will soon become mainstream. Forward-thinking brands have a prime chance to define their marketing presence for the next computing age.
Evaluating Top Metaverse Platforms for Businesses
With those benefits established, let’s explore major metaverse ecosystem brands should evaluate as part of their marketing expansion:
To summarize key differentiators:
- Decentraland – Focused on user-generated worlds and content, avatar interactions powered by cryptocurrency. Brands can buy virtual land to launch experiences.
- The Sandbox – Gaming-centric world enabling users to build 3D voxel assets. Partners with brand IPs for in-game activations.
- Roblox – Massive game creation ecosystem with over 50 million monthly users. Social play space for immersive brand events.
- Fortnite – Battle royale game with sweeping cultural influence. Large-scale brand events and in-game cosmetic collabs.
- VRChat – Diverse user-generated worlds experienced through desktop or VR. Avatars, world building, events, social interaction.
- Horizon Worlds – Meta’s social VR playground in early stages. Eventually will offer advertising and branded worlds.
- Spatial – WebXR platform for branded retail spaces, showrooms, events, training. Multi-user synchrony.
While still nascent, we can already see specializations forming around gaming, social interaction, commerce, and world-building. Based on use cases, some platforms will overlap for brand goals. However budget and audience demographic priorities can help zero in on optimal channels.
Below we dive deeper into evaluating two leaders: Decentraland for owned metaverse spaces, and Roblox for renting access to massive existing audiences.
Spotlight: Decentraland for Custom Branded Worlds
For brands interested in building their own persistent metaverse presence, Decentraland offers prime capabilities. Powered by the Ethereum blockchain, this 3D virtual world platform enables users to buy plots of virtual land to then construct experiences atop. By mid 2022, over 50,000+ independent land parcels will comprise this user-generated universe.
World locations are mapped to x,y coordinates that owners can develop, similar to virtual real estate. Branded owners can then shape engaging environments promoting products, hosting events/contests, and building immersive digital storefronts.
Users in Decentraland explore worlds through customizable avatars, interacting via spatial voice chat. The platform’s MANA cryptocurrency drives the economy from land purchases to avatar cosmetics and accessories.
For brands, owning virtual land to welcome Decentraland visitors provides a captive metaverse audience to market to directly. Companies can iterate persistently on their spaces based on analytics while tailoring experiences to community feedback through surveys and social listening.
And brands who establish intriguing Decentraland destinations can leverage user sharing and platform-provided promotions to amplify awareness of their spaces globally.
Here’s why brands seeking owned metaverse real estate should consider Decentraland:
Direct Audience Ownership
Without having to pay middlemen, brands attract visitors directly to their owned land plots where companies control the entire experience. There’s no limits or fees for user attention & visibility.
Persistent Digital Asset
Branded land plots persist indefinitely as unique coordinates/locations in Decentraland (52,21), forming long-term digital assets recognizable to frequent visitors.
User-Generated Traffic
Beyond marketing their spaces, brands benefit from Decentraland’s viral word-of-mouth as avatars explore popular landmarks. User sharing of locations on social media amplifies branded land visibility.
Tailor Experiential Journeys
Companies retain full control to tailor activities within their virtual space. Design evolving quests, new structures, and interactive features to continually re-engage visitors.
Access to NFT-Based Economy
Decentraland fully incorporates blockchain-backed NFT digital goods. From virtual clothing to artifacts, users acquire and trade rare items, including branded collectibles.
For trailblazing companies ready to plant their flag in uncharted virtual territory, Decentraland delivers the keys to crafting entirely novel branded environments that users rally around. The experiences established today could redefine consumer relationship for decades as metaverse adoption accelerates globally.
Spotlight: Roblox for Leveraging Huge Audience Reach
Alternatively, brands seeking rapid metaverse activation with minimal investment can activate within Roblox, the popular game creation platform with over 50 million monthly active users. Rather than build their own world whole-cloth, companies can partner with Roblox to bring branded experiences into their massively popular virtual environment without needing to purchase and develop virtual land of their own.
Roblox operates on a free-to-play model supported by an in-game economy where players purchase virtual currency (Robux) to spend on avatar enhancements like accessories or game perks. This ready-to-use economy makes it simple for brands to offer virtual products or integrate sponsored activations.
For example, apparel brands can put limited-edition virtual clothing pieces or avatar costumes for sale. Concert sponsors can erect branded virtual stages. And consumer packaged good sponsors can sprinkle virtual food items into popular games. Such organic activations feel less disruptive/intrusive compared to overt ads users might ignore or avoid.
Brand partnerships on Roblox tick numerous boxes:
Branded Games Drive Engagement
Rather than overt ads, companies can sponsor branded playable games – created by Roblox’s developer community – for users to actively enjoy. Sportswear brand Puma launched a Roblox skateboarding title driving 13+ million gameplay sessions in just 10 days.
In-Experience Events
Roblox upgrades passive store visits into immersive social events embedded right in user gameplay flows. Artists like Lil Nas X and Zara Larsson have held unique virtual concerts on the platform.
Access Highly Valuable Gen Z Users
Over 47% of Roblox players are 13-25 years old, precisely the Gen Z demographic that feels increasingly difficult to effectively engage via traditional channels like TV or billboards.
While Decentraland promotes complete brand control, Roblox offers turnkey audience reach. Both options present alluring opportunities for pioneering labels ready to test these emerging channels.
And with Augmented Reality adoption through devices like smart glasses poised to grow 6x in the next 4-5 years, forward-thinking marketers have an unprecedented chance to shape the next generation of consumer engagement.
How Brands Can Start Building Their Metaverse Presence
Ready to establish your company in these burgeoning experiential worlds? While the metaverse offers limitless creative possibilities, here are 5 proven keys to success identified from early brand activations.
1. Strategically Select Your Platform(s)
As covered above, different metaverse platforms form distinct user motivation profiles. Analyze behavioral data and talking to target users to determine which established worlds your brand resonates within most.
Prioritize platforms where existing affinities and values overlap the strongest while retaining flexibility across multiple environments. For example, a sports apparel brand sponsoring athlete avatars in VRChat to discuss fashion trends.
2. Design Notably Bold Experiences
Consumers have endless online entertainment options. To thrive in the metaverse, branded activations must captivate user imagination through sheer novelty, scale, interactivity, and social friction.
For inspirational executions study activations like Ariana Grande’s Fortnite concert experience or Hydeout’s interactive Decentraland jungle lounge. Identify what your brand can create that users have never seen before.
3. Align Interactive Elements to Brand Strengths
While eye-catching, experiences shouldn’t feel randomly tangential to a brand’s identity. Embed on-theme interactive elements that strategically showcase products or services while engaging users.
For example, Red Bull could partner with Decentraland creators to build an perilous skydiving game harnassing their extreme sports expertise. Or Moët & Chandon could simulate the feeling of fine champagne bubble sensory effects using VR.
4. Incentivize Discovery and Sharing
Prime metaverse activations make visiting avatars or players want to invite others. Brainstorm rewards for bringing friends like exclusive NFT items. Encourage organic ambassador programs through referrals.
Tools like coded URL builders through Roblox or Decentraland coordinate portals also simplify directing visitors into branded spaces by publishing a single clickable link. Lower the barriers to entry and social sharing.
5. Measure Performance Through Virtual Eyes
Just as accurate metrics revolutionized digital marketing, embracing data will optimize branded metaverse execution over time. But remember to observe metrics specifically meaningful in virtual settings vs classic digital assumptions.
For example, monitor visitor dwell time within experiences or heatmaps of avatar movement flows to understand engagement. Evaluate repeat visitation rates week over week. Assess virtual goods purchase conversion to inform sustainable transactional models.
The companies who can balance imagination with analytical precision will build truly magnetic and responsive metaverse activations.
The metaverse landscape in 2023 remains early days – not unlike the web of the mid 1990s. But for perceptive brands self-assembling within these budding virtual economic and social fabrics, the long-term growth opportunities swell larger each year.
Are you ready to meet your consumers within the next bold experiential frontier? The portals await.
Frequently Asked Questions
What companies are already in the metaverse?
Many major brands like Nike, Louis Vuitton, Wendy’s, Walmart and Vans have already run successful activations in metaverse platforms like Roblox, Fortnite and VRChat. Media companies like CNN and ESPN have established persistent spaces showcasing content. Expect brand experimentation to accelerate rapidly.
What can someone do in the metaverse?
Popular current metaverse activities include exploring user-generated worlds, playing games, attending virtual events, purchasing digital assets, interacting through customizable avatars, building owned structures/artwork, and connecting with online communities tied to hobbies and interests in 3D immersive spaces.
Is the metaverse safe for brands?
Like any emerging medium, the metaverse comes with new risks brands should navigate. However with proactive moderation, age restrictions, spatial controls, strict conduct policies and utilizing established platforms, companies can shape safe, ethical environments for effective community-building.
How much does it cost to be in the metaverse?
Costs can range widely based on desiredscope. A basic branded avatar item collaboration in an existing metaverse like Roblox can cost as little as $10-15k. Launching an independently accessible world experience can cost ~$100-250k. Owning persistent branded virtual land starts around $15k, with prime plots fetching into the millions as market demand increases.
Is the metaverse the future?
Based on accelerating levels of investment and technological momentum, most experts agree some form of hybrid “extended reality” combining AR, VR and persistent virtual worlds marks the next major shift in how brands engage audiences and consumers connect online. In particular, younger demographics gravitate greatly toward these spaces, indicative of long-term platform viability.
The choicest digital territory is filling up rapidly. Which metaverse will your brand call home?