How Brands Can Leverage Metaverse Land for Maximum Returns
March 31 2022 - 12:52PM
NEWSBTC
The metaverse is one tech trend showing no signs of waning – in
fact, quite the opposite. Experts believe that the metaverse is
perhaps the most significant transformational opportunity to hit
branding and marketing since the advent of the internet itself.
Investment bank Jefferies states that the NFT market, the backbone
of decentralized metaverses, will reach over $80 billion by 2025.
Morgan Stanley believes there’s a $56 million opportunity on the
table in the luxury goods sector alone. But when we talk of brands
entering the metaverse, what does it really mean? Well, setting up
shop in a virtual realm isn’t so different from what you’d need to
do here in the meat space. First, you need to acquire metaverse
land. Most metaverses have a defined quantity of land available for
purchase as NFTs on primary or secondary markets. Buying land will
give you the “space” you need in the virtual world to start
monetizing. Prices may vary, but the scope of what you can do with
your land is almost limitless. Here are four ways you can leverage
land in the metaverse to max out your possible returns. Build a
Virtual Commerce Showcase E-commerce was one of the premier use
cases for the internet, giving rise to the global behemoths that
are Amazon and Alibaba – both e-commerce firms that have expanded
far beyond their retail roots. Now, the savviest brands are setting
up their v-commerce outlets in the metaverse, allowing users to
browse a range of digital and physical products in a customized,
branded environment that isn’t constrained by physical boundaries.
Samsung is one example, having launched “Samsung 837X,” its
digital-only retail location designed to emulate the firm’s
flagship NYC location in the Decentraland metaverse. Decentraland
is also set to host the first-ever Metaverse Fashion Week at the
end of March, so if the event is a success, it seems likely we can
expect a few high-end brands to set up virtual outlets in the
metaverse. Build a Play-to-Earn Game The play-to-earn (P2E) craze
has taken the gaming world by storm over the last year or so,
leading to an influx of VC funding for P2E startups. Some
metaverses, such as Bullieverse, allow users to configure their own
P2E games on land in the metaverse, creating the opportunity for
developer income based on player revenues. Bullieverse has
integrated Unreal Engine as its game development platform, which
offers rich, 3D graphics without even needing any coding tools. It
allows users to build games using pre-defined templates and assets.
For brands, this option provides an entirely new revenue stream of
gaming income while offering a tailored game to engage potential
consumers while paying them token rewards. Bullieverse has also
just announced a partnership with Admix, allowing anyone to further
monetize their game creations with non-intrusive, opt-in ads from
any of the firms 300+ partner brands. Excited to announce our
partnership with @Bullieverse 🚀 We’re working with @Bullieverse to
bring them the most immersive experiences in their metaverse, with
custom builds, In-Play billboards, and even branded #NFTs! Learn
more about Bullieverse here: https://t.co/Abo1yiNa3r
pic.twitter.com/fYUDCfXO5v — Admix (@admixplay) March 25, 2022
Branding specialists can let their imaginations run riot with all
the creative ways to position their assets and products within the
game itself. Rewards could also be branded, providing users with
tokens that can be redeemed for in-store credit or merchandise.
Host an NFT Art Event Along with gaming, NFT art is one of the
predominant use cases for the technology right now. Christie’s was
the first big-name art auction house to engage with auctions of
digital art, while Sotheby’s has joined Samsung by setting up a
virtual auction house in Decentraland. However, some innovators
believe that the art buyer UX is currently lacking the metaverse
touch. Realm is a metaverse project that wants to do away with the
rather sterile, eBay-type listing that NFT art buyers currently
experience. Instead, Realm offers artists the opportunity to share
and present their NFT creations in a unique and creative way. Think
of a customizable AR/VR gallery that could be floating through
space, underwater, or an interactive exhibition based on sound and
movement. Anyone using Realm can create as many realms as they like
using a suite of builder tools. Users can create their own
exhibition spaces, hold a virtual auction, or invite collaborative
creation to explore what’s possible in the world of NFT art in the
metaverse. Rent It Out Still not sure what’s the best use of your
metaverse land and want some more time to mull over the options?
Why not just rent it out for passive income in the meantime? If
you’re on a longer-term time frame, you could rent the land to
another brand to develop any of the ideas outlined above. But even
if you’re on a short-term time frame, there could be other options.
For instance, brands wanting to advertise their presence in the
metaverse may be willing to rent out your land for advertising
space – think the virtual equivalent of the Golden Arches or a band
advertising for an upcoming concert. The metaverse is still very
much in land-grab mode, so if you’re on the fence, consider that
even simply buying and holding could be a worthwhile option if
prices continue to appreciate at the rate they have been. Either
way, if your brand isn’t currently thinking about a metaverse
strategy, you could find yourself arriving very late to this
virtual party.
Decentraland (COIN:MANAUSD)
Historical Stock Chart
From Aug 2024 to Sep 2024
Decentraland (COIN:MANAUSD)
Historical Stock Chart
From Sep 2023 to Sep 2024