After the rise of e-commerce, what are the new opportunities today and tomorrow for brands in the metaverse?

The metaverse is opening a new exploration field for everyone and especially creators, artists, designers, game publishers, architects, 3D builders, investors, entrepreneurs and dreamers who are taking part in the creation of a new world!

Virtual world with real experiences

Exploring this new universe is undergoing experiences with intense and unprecedented feelings and emotions. For the ones like me who took part of the Bal de Paris by the choreographer Blanca Li that transported us into an immersive party, wearing beautiful costumes, invited to this dancing gala and dream-like journey, our feelings and sensations were real! We were dancing, laughing, feeling, smiling, …having fun for real.

Being an actor of the metaverse is actively and fully taking part in a genuine new creativity laboratory that is playful and interactive to the closest pixel with incredible discoveries and special effects thanks to entertainment and gaming, the key drivers why people would spend an hour per day.

Blockchain Technology to unleash transfer of value between people, a strategic game changer for all industries

Entertainment and Gaming are also structuring pillars of Web 3 and blockchain technology’s massive adoption.

The Sandbox, founded by 2 French entrepreneurs, is one of the major pioneers that offers creators, visitors, players the possibility of building experiences on their virtual world with NFTs (non-fungible tokens), digital items they can build, own, play, exchange, sell, re-sell. Games and added value creation into the Game, a real revolution. The Web3 revolution. The Sandbox is what we call an Open Metaverse, enabling everyone to create and generate business on it, distributing 95 percent of creators generated revenue as a decentralized profit sharing model. Actually, a real business model revolution where the games are owned by their creators and players. Where players can become part of the business success. It is a completely different story compared to centralized game like Fortnite and Roblox which are closed ecosystem.

According to the research company Gartner: A quarter of people will spend at least an hour a day in the metaverse by 2026.

According to Wunderman Thomson, 66 percent believe it’s going to be life changing.

It is probably a brighter future for our children, nieces and nephews who spent hours and money on gaming. They can now co-create game universes, set playgrounds and remain the owners of their creations. They can also resell the items they have designed, the skins and what they bought. They can play and earn money. The most imaginative ones should soon be at the head of fortunes that could pay for their studies when the time comes! They would maybe create new jobs in the metaverse, like Virtual Estate Agent (real estate agent for virtual worlds).

But today, the coolest thing in the metaverse is to get the best avatar representing the best of you or the star you’d like to look like. SnoopDog sold plenty of avatars’ suits in Sandbox and sold VIP tickets for a virtual Snoop Party!

Brands entering Metaverse

In this context, new and wonderful brand stories created from scratch in the metaverse are being written. As for each tech wave we will see new strong brands emerging. As we saw Google in web1, Facebook in Web2, we will probably see Sandbox and others being in the future Top 100 brands.

We will also see more traditional brands like Nike or Adidas making some acquisition in the space to get Metaverse Skills and keep their Top position. For example, RTFKT, a studio created in 2020 that combines digital art and streetwear, which designed cool sneakers for avatars. The company was recently bought by Nike, which wanted to show strengths of its creativity in this digital universe.

This is a tremendous occasion for the brands to innovate and create virtual accessories, new digital items, new virtual products and services and to co-create them with the inhabitants of the metaverse to singularize and personalize their avatars:

The cosmetics sector is already thinking about “meta-lipstick” and “meta-blush.” In January 2022, Valde Beauty had already paired the purchase of a refillable lipstick and an NFT artwork created by an emerging artist.

The jewelry sector will be able to reflect on special rings, parures, pendants and bracelets…

The fashion world is working on carnival collections so that the metamorphosis is complete.

The all about bringing something special for the Metaverse. Brands should ask themselves what do they bring to users, how to engage with them in those universe.

Kering is dedicating a complete creative team to Web 3, as well as complementary teams for Gucci and Balenciaga.

LVMH with Guerlain is proposing cryptobees, consequently engaging the metaverse subject from the sustainability angle.

A host of personal effects to be the most beautiful and creative on the dance floor without forgetting eyewear.

The transportation sector won’t be outdone. What limousine will you take to go to the party organized by DJ Agora? No, I don’t want to go by limousine… but flying carpet! Innovative and ingenious transportation services will travel through the heart of the metaverse: flying cars, party bus, supersonic ice cream truck, flying dragon… to go from one neighborhood to another.

Wellbeing services will be offered soon on mindfulness and mental health, to guide individuals in connecting themselves to their personal resources. Also Yoga started proposing the Sanctuary experience on a Roblox island.

Even financial services companies are positioning themselves. AXA is one of the first to have bought land in The Sandbox metaverse, as have HSBC, and Siam Commercial Bank. There are a lot of expectations from users on handling transactions and guarantees on digital assets. Most of corporates have co-operated with crypto asset services providers like Coinhouse for buying and holding in a secure manner their Lands. There are avenues for a Metaverse Crypto Bank!

Of course, major retailers like Carrefour have also started their implementation. Knowing that Metaverse is full of Tech savvy guys, they started by doing recruitment sessions. Let’s bet on their renewal and imagination.

In addition to that, we will probably see Brands making some tentative to sell NFTs in their real stores. Like we are seeing art Galleries starting to sell the NFTS of their artists.

Web 3 should accelerate the development of new imaginary dimensions that will be used as settings to discover new products, which can also emerge in the real world. Will the brands soon offer superpowers to their customers who have avatars in the metaverse? When you buy a pair of running shoes in a store, can you see yourself being offered wings for your sneakers in the metaverse so that they make you go the fastest?

No question about it, the metaverse isn’t just a new socialization space or a boring virtual shopping mall, but a new experience and an exceptional creation field where people have fun! Ready to board?