An incredible example of South African ingenuity in The Metaverse is the recent launch of Ubuntuland, a virtual world that marries creativity, cryptocurrency, and commerce. With reportedly only 204 642 plots of land available, users can customise their 3D land spaces, and even have dedicated areas for work and play.
South African artist Norman Catherine has developed a unique collection of avatars, called the Normunda Tribe, that will be available to purchase – and it’s going to be incredibly interesting to watch the evolution of South African consumer’s behaviours and adaptability to the Metaverse. It’s an exciting space for brands and could very well become the ‘testing ground’ for new product lines and brand launches before being released in the physical world.
Campaign magazine reports that globally there have been dozens of experiments by brands. The metaverse will, theoretically, be comprised of multiple interoperable virtual worlds, which will allow people to easily teleport from one experience to another, and facilitate everything from social interactions to entertainment, shopping and work. But while some brand case studies have proven successful at reaching wide audiences, the long-term value of marketing in the Metaverse remains a mystery.
Almost every product that is marketed to humans can be sold to their virtual counterparts, and I believe the concept of selling Direct-to-Avatar (D2A) will become a more consistent strategy among local marketers. We’re talking about brands presenting quick turnaround purchases like toothpaste and tomato sauce to high ticket items like luxury vehicles and land – it’s all up for grabs in the Metaverse, and consumers are eager to stake their claims. The question is: which brands are they going to choose? Will they stick with the brands and products they know and love in the ‘real world’ or will they be open to other opportunities?
At this stage, it’s a learning curve for us all but, because this space is largely community driven, those brands with the largest following and highest market share could possibly have an easier time of brand integration into the digital world.
In closing, it’s clear that the Metaverse will play a huge role in the future of business, and marketers shouldn’t wait too long to dip their toes into this dynamic space.
~ Dashni Vilakazi, managing director of The MediaShop Johannesburg
