Marketers forge ahead with metaverse experiments despite murky economy


Marketers say 2023 will be another year of experimenting, and by 2027, more than 40% of large organizations worldwide will be using Web3. Challenges and the economic climate are also putting marketers in a catch-22 situation. Many promises of Web3 are still in their infancy and, in most cases, still unproven. Marketers are looking to move beyond cookies with Web3, but third-party cookies are still going bad.

2023 might be the year of what Forrester calls “metaverse washing,” trying to make old media fancy with new terms. web3 platforms have a small user base compared to Roblox virtual worlds, which had 13 users. Sensortower estimated 5 million app downloads in Nov 2022. Decentraland has worked with brands such as Heineke and Samsung. Just 1,000 installs worldwide in November for its Decentral and Explorer app.

A survey of business executives stated that they believe metaverse will be in their company despite the challenges, mixed expectations, and skepticism. Some people see web3 tech as something more than just marketing. There is also much scrutiny on the sector. VC money will continue to invest in the metaverse, a marketing agency says.

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