How is the Metaverse useful for Online Marketing?

How is the Metaverse useful? It is very important for everyone, especially marketers and online sellers, to know the benefits of the Metaverse, another interesting technology today. Everyone is familiar with this technology, formerly known as Facebook, which Mark Zuckerberg, CEO and co-founder of “Facebook”, announced the change of the company name to “Meta” to stimulate more interest. How interesting will it be? And how useful will it be for online marketing in the future? Let’s find the answers together.

What does Metaverse mean?

Metaverse in Thai is pronounced Me-ta-verse, which comes from the words Meta and Verse, which together mean “a universe beyond imagination.” It first appeared in the Sci-Fi novel Snow Crash. It is another world where people can interact with each other through simulation as different characters, or what we know as Avatars.

What is Metaverse?

This technology is a common ground that allows people in different parts of the physical world to meet at the same time. Everyone can travel around the world, watch concerts, and attend meetings from anywhere in the world.

Another interesting thing is that the Metaverse is considered an evolution of the Internet because it has changed the traditional online space to allow people to socialize, work, play avatars, or interact more realistically. Such space remains constant and does not deteriorate even after users have finished their activities in the area. This is considered something that meets the current lifestyle of people even more. Because of the adaptation after the COVID-19 outbreak, lifestyles have changed.

Get to know the “Metaverse” virtual world. What’s interesting about it?

As we all know, the Metaverse is not just a virtual reality that allows people to communicate, but it is also an experience that connects people from the real world to the digital world by using various types of technology to do any activity at the same time.

What are the Metaverses worth watching? What are the important technologies you should know about?

VR and AR Technology VR (Virtual Reality) and AR (Augmented Reality)

It is a technology that helps create a more realistic and dimensional virtual world experience. VR allows users to create three-dimensional interactions by combining visual elements into the digital world, while AR helps enhance the real-world experience more clearly.

Internet of Everything (IoE)

Metaverse works through the connection of specific devices, so IoE plays a key role by connecting data, people, devices and processes through public networks.

AI or Artificial Intelligence Innovation

It has a human language communication processing function. The bots that will be used in the Metaverse will enhance the ability to process data and create realistic images, including creating avatars of users in the virtual world. Importantly, there is also a plan to create Digital Humans that provide translation services, personal assistance, and monitoring. An example of using AI that we are familiar with is the Facebook chatbot that is very useful for doing online business.

Metaverse Avatar

Or Facebook Avatar is a 3D digital universe where the actor can escape from physical reality, can interact with others through their own virtual world (avatar) and can experience anything they want.

There is also a part of Metaverse avatar nft that we can use to represent ourselves or Avatars in NFT and Metaverse games, which will make the characters in the Metaverse unique and may also generate income for the designer of that NFT.

Metaverse: What are its advantages and disadvantages? What are its differences?

strength

• People will have a lot of fun. They can play games, watch movies, socialize, travel with their friends, family and loved ones even though they are not together.
• Metaverse will bring people together through virtual media.
• It will be a great opportunity for businesses and companies to sell their products online and make profits.
• The Metaverse will make working from home and online learning more advanced and interactive.

weakness

• After the arrival of the Metaverse, humans will start to be trapped in themselves. Physical social life will disappear on many levels.
• Virtual worlds will be the new status symbol for people. Those who can’t afford expensive things in the Metaverse will feel inferior.
• Cybercrime may occur because the Metaverse is still a new concept. Security systems and methods to prevent cybercrime may not be tight. Plus, the government does not have enough power to fully manage it.
• Therefore, it is possible that in the Metaverse, there will still be fraud, money laundering, child exploitation, illegal goods, sex trafficking, and cyberattacks.

Metaverse digital marketing: The future online market that everyone should study

‘Digital economy’ is an important thing that will follow if the Metaverse is fully realized. Currently, many brands have adjusted their plans to support entry into the Metaverse, covering various industries. What is interesting is that the business sector has adapted to apply many new innovations that come with the Metaverse, such as using digital currencies, issuing collections of products or services in the form of NFTs, adjusting the platform to be more community-like, or designing a more realistic content consumption experience.

What is Metaverse Marketing? How can it be marketed?

Before entrepreneurs understand how the Metaverse works, let’s first look at its key features:

• The Metaverse is always active. Even when we leave the virtual world, everything in it will continue to function and change.
• There is a mix of online platform usage, such as bringing items from one game to play in another.
• Metaverse is a virtual world where users can choose to create things and own, buy, sell or invest in the same way as doing activities in the real world. Trading activities such as buyers and sellers can contact each other through Metaverse, sellers can promote products through various technologies or create product or service descriptions of stores in the Metaverse area, advertise for customers to access products and can create new careers and new ones, such as renting space for events or acting as a middleman for buying and selling various assets, etc.

Therefore, marketing activities that entrepreneurs can do and should develop further are:

• Organizing events such as product launches, fashion shows or concerts in the virtual world to make it more interesting.
• Promote products through various technologies used in the Metaverse, such as AR, VR, and MR. “Metaverse Thailand” is an example of a brand running the Metaverse industry in Thailand.

“Metaverse Thailand” or M Vision Public Company Limited is the first to initiate a digital land trading business in Thailand in the virtual world, which offers digital land trading services (not related to land in the real world in any way). When the buyer owns the land, they will have ownership of the land and can hold activities or sell products. The land assets will be stored in the form of NFT and can be transferred to other owners.

Finally, this is just one of many brands in Thailand that have entered the Metaverse industry. There are many more brands that have started to enter digital marketing like this. However, we cannot deny that in the near future, the Metaverse will help make connections more convenient and realistic. Many industries are interested in the application of the Metaverse. What everyone is watching is the development of Facebook from now on, which direction will it go? I believe that it is still interesting and worth watching for people in every industry.

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