NFT and metaverse: the new marketing of GAFAM?

The Metaverse, from dream to reality – From barter comes the origin of our exchange and our sociability. On closer inspection, the transaction starts from scratch. From a logical and simple observation: “if you want milk from my cows, you will have to give me your wheat in exchange”. Subsequently, without taking a course in history and anthropology, money appeared as an equivalent of value. It has enabled many political, governmental and commercial powers to develop across borders.

One thing leads to another, thanks to a voluntary ellipse about the progress of technologies, we therefore arrive at the birth of e-commerce, compounded by the arrival, development and emergence of the Internet. The appearance of the expression then Web 3, development of Web 2the internet as we know it has given rise to NFT technology, an almost tailor-made solution to consider the possibility – unfinished at the moment – ​​of a metaverse open to all, a free trade area, and as a result Act.

So prophetically, books such as Snowfall or the movie Ready Player One become a likely dystopian reality for some. But not for others. Yes, from Amazon to E-bay via Meta (formerly Facebook) aren’t we already in the era of a metaverse – embryonic of course – powered by NFT and blockchain technology? Taken by storm by the giants of commerce, has the metaverse slipped from the novel of expectation to an already consumed reality? Let’s take a little height.

In order not to get lost in the Meta-Hebdo:

Amazon, E-bay, Orange… shop in the metaverse

Across from one Internet 2.0 is running out of steam and one blockchain technology which despite the obstacles continues to gain a foothold in the hearts of its users, the trade has actually adapted to the situation and the new and new consumer demands. Art, Luxury, Sports, Politics, there is not a sector that does not have began adopting codes specific to the so-called crypto world.

But beyond this visible adoption, there are features specific to the metaverse that we use in smartphone applications. We have even integrated them into our daily lives without realizing it. Amazon allows you to e.g visualize in 3D your future furniture in your home. By branching outAmazon’s involvement in the creation of the digital euro goes in this dynamic of a commercial giant that is already an actor – criticizable – of Web 3.

Orange Spain, a subsidiary of Orange, also recently opened its shop in the metaverse with spaces for brands to showcase their innovations and products. Aided by a partnership with Meta and its Meta Quest virtual headset, the consumer experience is in the words Diego Martínez, Business Unit Director at Orangethe nerve of the company’s future:

“With the opening of our store in the metaverse, we have become pioneers in this environment, deepening our commitment to innovation and digital transformation and, more importantly, improving the experience for our customers. customers, who thus have another point of contact with the Company .”

Collecting NFTs from the E-Bay site, developing recognized NFTs and sites at Nike, conquering the metaverse is an effective strategy for these commercial giants

The Orange Spain Store in the Metaverse – Source: Orange

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NFT and metaverse: one does not go without the other

So yes. Talking about metaverse does not necessarily mean talking about blockchain technologies. The latter, however, allowed the birth of NFTs, real proof of the authenticity of an avatar or virtual object. The contract engraved on the blockchain becomes indisputable proof of ownership.

Adopted by big stars, NFT collections such as CryptoPunks or even Bored Ape Yacht Club allowed the development of the metaverse, attracting investors and other business magnates such as Paris Hilton.

For the most enthusiastic, NFTs even appear as the new basis for a worn-out global trade. In a society where we all wear the same clothes, are all in the same places, use the same networks, offering NFTs on behalf of a brand is the way to empower the consumer to truly belong to the community.

We are already in a 3.0 trade

Pretty quickly we understand that we are already in the era of commerce 3.0. QR codes accompany our lives, just like the one that sticks to our health passports. Exacerbated by the so-called “covid” period that we have experienced, the concept of a virtual common space open to all makes sense.

Amazon, eBay, Metabut still Microsoft are all major players in traditional trading who have already started the race for the metaverse and the development of NFTs. Nike, which came out stronger from the takeover of RTFKT studios, has won the lead with its Cryptokicks.

Nike and RTFKT launch Cryptokicks, the brand's first NFT sneaker.

GucciLouis Vuitton or Balenciaga, luxury and regularly avant-garde haute couture are also stimulated by the experiences made possible by NFTs and the metaverse for their customers. Gucci even accept Bitcoin and cryptocurrencies in some of its points of sale.

Finally, the marketing of the sports sector also showed its interest in the metaverse. From building a virtual stadium to Manchester Cityestablishment of fan token platforms (sports club cryptocurrencies) such as Social. NFTs have thus been able to show their value and position themselves as safe solution for trading and not as a threat.

The development of technologies thus allows trade to continue their development at a time when it runs out of steam. Actually the concept click to buy gradually driven towards it byexperiment to buy.

The metaverse pushes the boundaries of reality for brands

In addition to the crypto winter we are all going through, a lot fundraising and other forward-looking studies such as McKinsey’s show the growing and driving interest in the metaverse and by branching NFTs. Commerce, social networks, virtual experiences, game development, the metaverse allows brands to go further.

They can, by the property of NFT, propose a true virtual identity to their consumer, and propose a world – which is supposed – to be a free and inclusive space. This space then allows the establishment of an omnichannel trade.

The metaverse: an omnipresence of the brand

Concept omnichannel is a concept that with the birth and rise of the metaverse makes sense. Based on marketing, this term emphasizes that the metaverse makes it possible to keep all the communication channels and connect them in a starting point and a central sales room most of the time physically. Here, the metaverse offers a virtual sales room that is open 24 hours a day. Brands intend to play well with distances and space in this new playground.

Catalyst of communication channels that allow true proof of commitment despite the distance the metaverse allows develop the customer experience and to build loyalty thanks to the latter, like Starbucks that recently unveiled its NFT platform.

NFTs for Starbucks customers
Logo for Starbucks, a commercial giant betting on the web 3

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A playful journey, interactions, brands have already started multiplying innovative ideas to create virtual interaction with users or their future users.

NFT and metaverse, limited use

But this mutation of commerce and the unknowns it includes in its equation raise questions. What ownership of NFTs ? What right to fair competition and for the consumer? These are all issues underscored by certain legal loopholes that we can see inNFT news. GAFAM’s action, whether Apple, Google, Meta or even Microsoft for the future of the metaverse, will be decisive at the risk of overriding some key principles of decentralization.

Finally, and this is a parameter that brands will have to consider in order to develop in web 3, they will have to empower their customers through education to understand the volatility of NFTs as well as the practices and uses that are specific to blockchain. , to limit speculative risks for their consumers.

Actors of what is called mass adoption, (mass adoption), the place of brands and commerce in the metaverse, of Roblox on Decentralized country Passing by The sandbox, is no longer to be determined. The split between the utility they can bring to popularize Web 3 and the threat they pose in that they can distort the use of NFTs and the metaverse (by destroyinganonymity and centralization) the rapid development of technologies allows them to imagine a virtual space where it can do more than in reality. Reach more customers, be more visible, have more direct communication with consumers: the Metaverse breaks with the trade codes we know.

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