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Is Metaverse the Next Stop for Social Networking and Influencers ?

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Imagine a virtual world where you can build a world and bring your world experiences with you.

The internet was made public only 30 years ago. Twenty years ago, many businesses understood that a website was essential for their marketing.

Let’s not forget about the time it took for social media platforms to catch on.

Virtual reality experts now predict that VR and AR will be used by 58.9 Million and 93.3 Million Americans, respectively, which is 17.7% and 28.1% respectively.

The metaverse can be conceptualized as the successor-state of today’s internet. It is similar to the mobile internet today that was built on top of fixed internet in the 1990s and 2000s, according to Matthew Ball’s Metaverse Fund.

virtual Metaverse

It will soon be easier to offer AR VR experiences that are more seamless, fun, and affordable across a range of connected devices thanks to the convergence of 5G, AI, and edge cloud processing.

Industry insiders predict that the metaverse, just like the internet, will be a necessity for all brands.

Mark Zuckerberg announced recently that Facebook would be turning it into a “metaverse company,” for whatever that’s worth. Kara Swisher, a tech journalist, says that “the jury’s still out” and believes Apple or Google may be better equipped to lead the metaverse revolution.

How Metaverse is entering Social Media

Many projects promote the metaverse as a new way to play games. But it offers so much more. The metaverse developers are aiming to create a virtual world that replicates the real world. The space allows for all types of interaction, including hangouts, promotions, concerts, and other events.

IZEA Research found that 70% of influencers believe that the metaverse will completely replace social media, taking over existing video platforms and creating new opportunities for communication and profit.

The Metaverse for Social Interactions

The metaverse is a niche product compared to mainstream products like social media. This digital world has the potential to provide exciting, influencer-centric capabilities.

Samsung and other brands have hosted product launches on metaverse platforms. They offer users NFTs to facilitate their participation. These events are a great way for brands and users to get together in a COVID-stricken environment. Although these brands might be able to promote the event via social media, only those who are able to attend the event in the metaverse will benefit.

Similar to influencer parties, they can also be held almost exclusively within the metaverse. The only thing that limits party attendees in the metaverse is their internet connection, not their geographic location. NFT ticket holders can easily restrict access to prevent bad actors and random people from sneaking in.

It is also important to consider that interactions in the metaverse can be more human than those on social media. Conversations can’t be conducted via text or one-way video calls. They are almost in-person and bring with them the nuances of natural conversation that social networks lack.

How Influencers Can Monetize their Meta Activity

Influencers have many options for monetizing their metaverse activities, and they are actively seeking to do so. According to IZEA research, 51% of influencers want to make money in the metaverse. 21% already have.

You can make a living in the metaverse by renting out or organizing ticketed events.

Brands that are well-established in the metaverse or looking to do so in the future can partner with influencers. Puma and Calvin Klein have already started to develop metaverse avatars. Other brands will soon follow their lead.

Is the Metaverse going to replace social networks?

Although it is impossible to predict when the metaverse will replace social media networks, it seems safe to assume that it will. It unlocks new financial and social benefits unlike any we have ever seen. The metaverse will be more popular as influencers start to realize its benefits and spread the word to their friends.

However, technological adoption must be considered. Although most metaverse platforms can be accessed via a computer, virtual reality headsets are required for immersion. Companies such as Meta are developing consumer-priced headsets. They have made significant progress with the Oculus Q2 but mass adoption is still far away.

However, this isn’t necessarily a bad thing. Instead, metaverse platforms have many years to develop their systems and allow teams to create a reliable product. Brands and influencers can also establish monetization systems to help new entities learn how monetization works.

There are still many things to be done with such novel technology. However, a steady and slow adoption rate coupled with dedicated development teams can make the metaverse a place to be and communicate.

Public Relations and Metaverse

Today’s headlines are filled with brands that venture into the metaverse. 60 Minutes featured a story about how non-fungible tokens, or NFTs, make it possible to sell and buy goods and then use them in the metaverse.

You can now create or hire a virtual person. This will allow you to find the right ambassadors, spokespersons, or concierges for your brand. A podcast interview with Guy Kawasaki, Kuki, and artificial intelligence chatbot Kuki.

Virtual beings are part of our everyday lives, but not in 3D. Think Siri and Alexa. 

Final Thoughts

AR glasses and immersive technologies will be the wave of the future.

How do you plan to navigate these new communication channels and take a leap into the waters of tomorrow’s metaverse?

Although the internet may have taken 30 years for it to reach its current state, the metaverse is on track to grow quickly with technology in place and people ready to cross into new worlds. Gucci is my favorite brand in the metaverse.

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