[ Metaverse ]
Moving into the New Era of Digital Marketing with a Metaverse Studio in Singapore
Technology is advancing quickly – some might say at supersonic speed. Capabilities that only a few years ago were unimaginable are now becoming a reality, and a metaverse studio Singapore can help you take advantage of them. The latest of these innovations to attract huge attention is the metaverse.
Although not entirely how the influential science fiction novel Snow Crash described, it does offer multiple opportunities for digital marketers.
If you are a digital marketer, you might realize that the metaverse is an important new channel, but what is the best way to get it right? The recommended approach is working with a metaverse studio in Singapore. Keep reading as we explain how the metaverse works, dig into the numbers behind it, and go over the main benefits it can bring for your brand.
What is the Metaverse?
Before we jump into the facts, figures, and advantages of Metaverse, let’s understand what it is. The metaverse has its origins in science fiction, but advances in technology have now made it a reality.
It is a complex system of shared virtual settings that people can gain access to on the internet. It connects a network of 3D virtual worlds, with the main purpose being the promotion of social connection.
It incorporates digital spaces that are designed realistically using the application of augmented reality (AR), virtual reality (VR), artificial intelligence (AI), and videos.
The metaverse is helping to replicate the real world in a virtual environment, allowing people to meet and interact with each other and with objects.
It’s not a leap of the imagination to see how people can use it for shopping, socializing, learning, and attending concerts, among other activities. The unlimited nature of what you can do with metaverse is what makes it more attractive to digital marketers.
Of course, as an emerging concept, the metaverse can be pretty complex, but you are sure to get it right by working with the best metaverse studio in Singapore. Looking for a metaverse studio in Hong-Kong?
The Metaverse in Numbers
For digital marketers, the metaverse has quickly become a crucial tool to keep in their marketing arsenal. Let’s go into the numbers and facts of why that is.
- The term metaverse was first used in the 1992 sci-fi novel Snow Crash by Neal Stephenson. Ernest Cline built on the concept in 2011 with his best-selling novel Ready Player One.
- In 2020, the market size of the metaverse was estimated at USD 46 billion.
- The metaverse market in the US alone might reach a potential total consumer expenditure of USD 8.3 trillion as early as 2022 (Statista). Real estate, motor vehicles, and home-related segments are expected to hold the largest percentage in the metaverse at 30.4%, 8.5%, and 8.4%, respectively.
- Meta is expected to employ 10,000 people in Europe alone in the next five years to help with metaverse-related development.
Optimize the Benefits of the Metaverse with a Metaverse Studio Singapore
The metaverse is like the older sibling of the internet, but whose potential is only becoming clear now. It is undergoing a boom currently, but you still need to be smart to maximize your benefits. That is why you need to work with experts like a metaverse studio in Singapore. Looking for a metaverse consulting company?
Here are the main benefits you can expect from such a collaboration.
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You can make a huge impact.
The metaverse is the future of digital marketing. This is evident from the support it is drawing from top brands, from JP Morgan to Facebook. According to Jamie Yorio, the MD of Republic Realm, startups in the metaverse today are going to be the leading brands in the Fortune 500 in the future.
This will be made possible by the growing number of opportunities arising from the metaverse.
For example, by interacting with clients in real time, you are able to build a loyal following and enhance their experiences. You can effectively roll all of the social media experiences your clients have come to expect into one and make your interactions with them more engaging and enjoyable.
Other opportunities that you can expect from the metaverse include product customizations and virtual showrooms. Check our metaverse consulting offer in Singapore here.
It’s an excellent way to connect to young audiences.
The biggest shift being experienced today towards the metaverse is among the younger generations. They are using it to shop, celebrate birthdays, and engage with like-minded people. Taking your enterprise to metaverse, therefore, offers you an opportunity to connect with younger audiences and win their trust.
It provides you with the perfect opportunity for one-on-one interactions and immersive sponsorships for brand promotion.
The metaverse’s online avatars have introduced a new mode of self-expression that younger people find endlessly appealing. Fashion brands in particular can take advantage of this by working with a metaverse agency in Singapore to outfit their avatar. To demonstrate their fashion is supreme in the market, they can customize their avatar’s clothes and give them a unique appearance.
You can sell virtual goods.
How would you feel if your brand made millions of dollars by selling the digital version of an artifact? It can be anything, such as the company’s original design of their pioneer product, a revered piece of art, or even a photograph hanging on the CEO’s wall capturing a visit by a famous person.
If you think that no one would pay millions of dollars for that, think again, because it is already happening through the sale of virtual brands in metaverse.
In March 2021, Jack Dorsey sold the first tweet on Twitter for USD 2.9 million as a non-fungible token (NFT). It’s not just Dorsey who made millions selling virtual products.
Only a month afterwards, artist Mad Dog Jones sold his Replicator for USD 4.1 million. Christie’s, the famous auction house, also sold its massive collection of Beeple for USD 69 million.
You also have an excellent opportunity to rake in millions from digital goods, and the metaverse makes that process simpler. With the help of a metaverse studio in Singapore, you can design NFTs that will attract millions at auction for your brand.
That money might be all that you need to boost your revenue, support the marketing department, revamp the research & development unit, or expand offshore.
You can gamify your products.
Gamification, which is the process of applying video game features and systems in other contexts, is another awesome method for standing out in digital marketing. By working with a metaverse studio Singapore, you can use this concept to encourage more customer participation.
For example, gamification can be used in e-commerce to drive up shopper engagement and motivate them to disseminate important news about your brand.
You can create rewards that shoppers or visitors can redeem in different areas of your brand’s metaverse ecosystem. Shoppers who share the brand message with 50 followers on their social media channels, for instance, can be given a redeemable token to claim when placing their next order.
The metaverse is only getting started, but it is expected to grow rapidly. Companies using it are already reaping huge benefits, and you can join the list. You can make more in direct sales and redefine your clients’ user experience. By working with the best metaverse studio Singapore, you will not only learn how it works, but seize every available opportunity for growth.
The great thing about the metaverse studio in Singapore is that they already have an impressive track record of helping brands achieve their goals in the metaverse.
You can count on them to deploy the best strategies for success in this arena. Don’t get left behind as others move to the next era of digital marketing—visit Wild Agency for all your metaverse and digital marketing needs.