Four metaverse experts talk about the recession and how it might impact spending in space. The metaverse has been the best wall for this in the past. But as a recession mounts, the need to generate substantial revenue has become urgent. Some of the biggest takeaways are here. The rise and fall of Web3 have muddied the meaning of the term metaverse in recent years. Some experts think that brands will spend less money on experiment metaverse marketing and more on gaming, but the result will be just as incredible, virtual.
Metaverse for the Brands
Most brand activations inside metaverse platforms have not included any direct opportunities for e-commerce or the sale of virtual goods. Brands view the metaverse as more of a marketing channel at the moment — a way to raise brand loyalty or awareness and signal their commitment to future technologies. Brand experts fully realize the necessity of direct virtual commerce opportunities shortly. “We think the biggest monetizable opportunities in these spaces are from the sale of digital collectibles,” said an executive at a major brand recently launched in Roblox.
The types of brands that activate in metaverse platforms will change as economic headwinds pick up. Many consumer brands lack the intellectual properties needed to populate virtual worlds. Some estimate that entertainment brands will continue investing in the metaverse taking advantage of homegrown IP.
