Today NFTs are a way to integrate brands into a new universe- Web3

Who would have thought that one day, a work of digital art could be worth thousands or even millions of euros? Say hello to the NFT.

When a giant tech company like META plays in the world of Web3 and is followed by some of the largest companies listed on NASDAQ and The CAC 40, international brands start showing interest. We see businesses increasingly integrating the technology of Web3 with their brands.

Web3 is a promising market full of opportunities. But what does this mean? In plain language, it’s not really about digital artwork. (t least not for many traditional brands), but rather about launching in the metaverse.

Why is the metaverse of interest to brands today?

Talk of the metaverse is everywhere. Trending, if you will. Effectively, it’s the internet upgraded—the internet in virtual reality. The metaverse is an extension of the real world in which we can interact, communicate and collaborate virtually with each other, as well as store our digital assets.

The benefits of the metaverse for consumers are endless. This new digital advancement will create immersive, seamless customer experiences that can span the digital and physical worlds. Consumers own their data in the metaverse; with this security, they can connect and shop in virtual worlds. Imagine being able to see a product and even try it on before making a real-world purchase. The metaverse blurs the boundary between the physical and virtual world, and retail brands are seeing the potential.

META, formerly known as Facebook, understood the assignment early on. Consumer habits will change with this new technology, so they are creating virtual landscapes to host this new market.

Web3 users are younger, more connected, and looking for experiences and opportunities to socialize online. This is an essential playing field for brands that need to occupy spaces that attract consumer traffic. It’s all about being one step ahead, creating a link with future consumers. Brands that are getting in early will be ready to meet the demands of tomorrow.

Web2 changed the world, and through GAFA, we have seen a radical change in consumption habits over just a few years. How we shopped, made friends, found love, and sourced career opportunities transformed after the internet launched. Over the last decade, we saw a real rise in how businesses (even smaller ones) have been boosted by using audience traffic on social networks. Traditional advertising was made to give up some of its market share to influencers. And the metaverse will enjoy a similar trajectory of transformation.

Some marketing professionals say that to succeed in this new environment, the metaverse must offer escapism from reality. This means that brands must move away from the advertising model as we know it today. In addition, they will need to understand and traverse the complexities of a platform that links multiple VR worlds. 

The evolution of the metaverse will be ongoing, just like new information and websites are constantly added to the internet. For now, four major companies are vying for the top spot in the race to dominate the metaverse: Meta (Facebook), Roblox, Fortnite, and Microsoft. Eventually, users can seamlessly move from world to world, taking the assets they hold in one to each of the others.

The metaverse is a logical evolution of the internet, so it makes sense that retail recognizes the vast potential it offers to make a deep connection with consumers and drive sales.

Businesses need to take advantage of opportunities to invest. Depending on a company’s business and goals, it can buy gateways (called lands in the metaverse) to promote its products and services: VIP events, stores, concerts… The possibilities are endless! NFTs and advertising space can be sold.

 The technology offers users an immersive experience, and this sort of tech seemed hyper-futuristic for the longest time. How will we use it to our advantage now that it’s within our reach?