Ads and the Metaverse
With recent advancements in technology, virtual and augmented reality are looking to become more and more popular. Because of this, Facebook’s parent company, Meta, has decided to create their own virtual reality ‘world’ called the Metaverse. The company’s founder, Mark Zuckerberg, estimates that over the next decade, their Metaverse will generate them over $1 trillion in revenue, as well as attract over 1 billion users. As far fetched as that sounds, it could be a real possibility depending on how well it is executed. Now, you might be thinking: How can a virtual reality world generate that much value? Well, as with most other social media platforms, their main source of revenue would be advertisements.
Selling advertisements however is likely going to be one of the hardest aspects of creating this Metaverse, not because companies won’t want to advertise their products, but because it is such a new domain for advertising. Will companies be able to buy entire sections of the metaverse to advertise in? Could they open up virtual shops and sell virtual items, or maybe allow users to ‘try on’ their products in the Metaverse before buying them in the real world? These are some of the questions Meta will have to answer before they can begin to sell advertising options to prospective buyers.
Even though there are still steps that need to be made before the Metaverse can really be on its way to their $1 trillion estimate, I am hopeful for what it can offer. There is so much creative freedom that comes with a virtual world, and along with that comes the possibility of advertisements the likes of we haven’t seen.
Source: https://www.xrtoday.com/mixed-reality/how-can-enterprises-advertise-in-the-metaverse/