Metaverse Branding, a term that has been steadily gaining traction in recent years, is being mentioned more than ever before. The word appears over 1,100 times throughout the US Securities and Exchange Commission’s regulatory filings from January through June 2022 alone – which marks an all-time high compared to just 260 mentions last year or less than two dozen during any other decade
It’s no surprise that most brands are flying blind when it comes to navigating this new and evolving landscape.
Web3 experiences are an integral part of the new economy. As more and more people enter this space, it’s important to be aware of common pitfalls so you can avoid them yourself or FrequenC can help your brand navigate the unknown.
Dont assume the old rules apply, web3 hits different.
Web3, the next evolution of the internet is the future of digital advertising. It’s where all transactions and experiences are tracked on blockchain, which will eventually intersect with frontline technologies like VR/AR to provide an immersive 3D world for brands today. While web2.5 is current we can work to define how the evolution of interacting in web3 will take place.
With web3 this is a completely new world, which means we can’t rely on old paradigms like information gatekeeping by large corporations or the steady stream of “disruptive marketing” pointed at consumers clogging the “algorithm”. Finally, there’s no predictable ROI for brand campaigns in this Metaverses–you’ve got to get creative with your strategy, that’s where we come in.
The counterpoint, the” metaverse” as we know it rests on a foundation of decentralization. Where information, ownership and user-generated content reign supreme.
You can’t assume that your Web2 success will translate to a virtual world. Sure, having an impressive market cap or number of TikTok followers is nice but these don’t give you the advantage in this metaverse ecosystem; instead it’s all about creating engaging experiences which add value for customers while meeting them where they are, not by pushing any brand agendas or using one’s digital space as advertising billboards.
Meta’s latest flop in unveiling its long-awaited metaverse contribution has left many wondering how the company could be so out of touch with user expectations and culture. With outdated designs, lackluster community involvement, an exorbitant $10 billion dollar price tag for something that doesn’t even work right now – it’s clear there are some problems at hand here!
The takeaway? Don’t assume that your brand equity will translate into an interactive experience. Get a firm grasp on where the community exists and what they want from you, then focus on delivering it!
Keeping this in house, siloed and solo will only get you so far
The old adage “if you want to go fast, alone; but if your goal is far-go together” could not be more true in this situation. Tapping into an existing knowledge base for the culture and technologies will ensure success rather than attempting without any prior experience or expertise about these things which can lead directly towards disaster when money grabs like clockwork afterwards get labeled with all sorts of negative traits – yet brands do need to make money in order to be deemed “successful”.
Partnerships are a great way for startups and entrepreneurs to find their footing in the ever-changing world of technology. In this partnership, you’ll be getting support as well guidance from an expert who has knowledge on what makes sense now or later down the road when it comes time for monetization decisions – all while having someone there that understands your business. FrequenC likes to think of itself as a guide into the unknown, we are here to help, whether it be consulting or full scale marketing integration, trust people who have existed in the space and see it’s success’ and failings.
Dont forget the most important part: your Community
Community is arguably the most important part of building a presence in web3. They are your champions and consumers.
Immersion into a digital world has been around as a concept since the days of Tron and Second Life, but now we have entered an era where metaverses are more than just another space. They’re about creating communities that allow people to feel like they belong in something greater than themselves; it gives them a sense of belonging and identity.
One way to create strong brand affinity is by providing thoughtful interactions. NFTs like the Bored Ape Yacht Club and DeadFellaz offer mechanisms for people express themselves in a unique manner, which can lead them connect with other similar-minded individuals through acceptance of ownership themes that they rally around as well
A great example would be any company who harnesses this force – whether it’s doing so organically or leveraging its power more strategically–to foster deep connections between customers on behalf their products/services
The recent move by soda brand Jarritos to enter the Web3 space demonstrates that any brand can find a sweet spot with community-led strategy. Founded in 1950, this Mexican company wanted an opportunity for connection and refreshment of their image as well.
Jarritos, one of the most innovative beverage brands in Latin America partnered with Gutter Cat Gang to launch an NFT collection. The community-owned items were deeply rooted within this brand (ownership of different nft’s from Gutter Cats unlocks unique levels within their membership and perks), Jarrito’s used it as a jumping off point for connecting themselves into Web3 communities that were already thriving.
Hitting the ground running by taking this community first approach helps you hedge against Meta-like flops, since your new followers will already be united with preferences and values in regards to what they want from their experience from your brand.
The metaverse is a world without borders, and as such it can be difficult to know where you should start when navigating this new frontier. However there are some key elements which will have your journey beyond the ones with major excitement but undercooked plans; focus on investing in communities rather than asking them for investment themselves – find those right people who want help from YOU by finding their needs first.
Realize that all the rules change in real time with web3, so always adapt quickly if needed or settle down long term instead of getting frustrated after only one experiment at something different in an uncharted space.