Web3 is here and the metaverse has arrived along with it. It is no secret that this “embodied internet” is increasingly becoming an important channel for companies around the world, but most do not know how to interact with it yet. Even though it is still in early development, the metaverse holds the opportunity for brands to redefine how they interact with consumers and ensure long-term success in the future. Brands can’t afford to not plan today for the experiences they will deliver in the metaverse for years to come.
Advertising and marketing in the metaverse particularly require a smart approach to ensure ads are relevant, respectful, contextualized and reward-based. Brands will be expected to provide real value and embed themselves seamlessly into the context of the environment that surrounds them.
Web1 introduced the internet to us all. In the beginning, the internet only allowed tools for publishing static information users were simply able to read. In Web2, webpages were added where users can upload content, add comments, create profiles and much more. Internet users were actively involved in shaping the internet we know today.
After countless data breaches and scandals like Cambridge Analytica, consumers are becoming more cognizant of the fact their personal data is no longer their property. International legislation and policy changes are trying to retroactively address the privacy pitfalls of Web2. However, rectifying the issues with consumers’ privacy as an afterthought has proven to be a big challenge.
With Web3 and in the metaverse, respect for consumer privacy is ingrained from the start. Users are still able to read and write content in the metaverse, but also have ownership and the ability to monetize their content and the virtual world they are helping to create.