By 2026, a quarter of the world’s population will spend at least an hour working, shopping, learning and having fun there every day, according to Gartner, given the transition to the metaverse, CryptoSlate reports.
If brands are serious about the styling and presentation of their products, the experience they want to deliver is more likely to be successful than those pursuing short-term sports.
“If brands can create something that’s creative enough, something that really speaks to customers, something that’s engaging enough, and that has some sort of purpose and some sort of replay value to it, And it gives customers a reason to go back in it,” Rekhi said.
Rajpal Rekhi, managing director of RA Republic, the company that supports the Metaverse branding, told CryptoSlate in an interview that the Metaverse presents unlimited potential and opportunities for businesses that value customers. What companies get from Metaverse presence depends on their values and goals.
Rekhi added, “Metaverse is the perfect opportunity to not only create an opportunity for connections, but it can also be a place where they can express their creativity, create new customer experiences and interact with their audience. New ways of doing it can also be created.” ,
Building a brand in the metaverse can be challenging, if done properly, it can eventually pay off well. Through the sale of non-fungible tokens or the provision of other features, brands can increase their revenue. Some companies now experimenting with the metaverse to promote sales or brand recognition include Gucci, Louis Vuitton and Coca-Cola.
Brands need to consider how to advertise new innovative products to a consumer base that is already efficiently familiar with the services across multiple contact points.
“There are a lot of opportunities for businesses to generate revenue as long as they clearly think about the reasons why they are doing this and what they are trying to achieve, and what connections they are making. Trying to create,” Rekhi said.
Branding in the Metaverse requires significant infrastructure and training expenses. But if the company’s customers are looking for a digital experience and the brand can meet those expectations, then the return on investment makes the metaverse venture practically rational.