Last month, Mark Zuckerberg took the virtual stage to unveil Facebook’s biggest change since the company acquired Instagram years ago. Like the Google/Alphabet restructure in 2015, Facebook, Inc. will now become Meta, Inc., the parent holding company for all of Facebook’s apps, including Facebook (the platform will not change), Instagram, WhatsApp, and Oculus (which will now feature the Meta brand for the virtual reality tech).
This change is centered around Meta’s vision for the next generation of social networks. Imagine, the virtual world and real world are so intertwined that the lines can begin to blur — this is the concept of the metaverse.
What Will Make Up the Metaverse?
That’s not an easy question to answer, because the metaverse is still being created, and it will be unique for everyone. According to Zuckerberg, it’s “a new phase of interconnected virtual experiences using technologies like virtual and augmented reality.” But beyond technology, the metaverse can be described as the intersection of our real and virtual lives and a blurring of the boundaries that distinguish them.
Early examples of the blending of our virtual and real lives include Second Life and The Sims, where you can create your avatar — your virtual self — and “explore” new places, work, or just hang out with digital “people.” In the Metaverse, you’ll be able to pull real objects, platforms, and yes, people, into a virtual or augmented environment. And the reverse is also true: you’ll be able to bring your digital virtual life into the real world to augment your environment with digital things.
Imagine, are you a maker or just want to “shop”? Soon, we will be able to create, buy, and sell new types of digital objects and entire virtual worlds, and we’ll have true ownership of these creations. Entirely new economies are already being created with NFTs (non-fungible tokens) and digital marketplaces. With NFTs on the blockchain, we can take our objects and worlds with us into other platforms, and back and forth between the real and virtual spaces — we’ll be able to transform and augment real places with augmented objects; unlock new content beyond the real world; find new ways to navigate; and provide information and education.
We’ll be able to transform and augment real places with augmented objects; unlock new content beyond the real world; find new ways to navigate; and provide information and education.
While platforms like Second Life and The Sims still exist, newer, more robust implementations of the Metaverse are beginning to emerge. Roblox, for instance, has an easy-to-use, game-within-a-game creation system where kids and adults can create entirely new worlds within the Roblox environment. Your Roblox avatar is completely customizable, and players can earn digital money (Robucks) for character outfits or items, or whenever other people play in their worlds.
More examples of the real/virtual intersection have created a new distribution channel for artists like Ariana Grande and Lil Nas X. Both have hosted concerts inside of games like Roblox or Fortnite, while also performing live and in-person. And many of these artists already augment their live performances with digital art or other “bonus” content. Artists and creators are driving the expansion of the metaverse, and they will continue to use this new “venue” as a media outlet.
Entertainment will take on a whole new meaning. Imagine buying a team jersey in a virtual stadium, and then being able to wear it in every virtual environment and game, including while playing Grand Theft Auto or Beat Saber.
How Does This Impact Marketers AND Their Customers?
Long term, the possibilities are endless. In the short term, we can still count on the availability of these options for marketers:
- Facebook as a social network will continue to exist.
- Social ads will still run.
- Social pages and communities will still connect patients and caregivers.
- And top of mind for all of us is the availability of more data and the need to steward privacy.
While we try to separate our view into long-term and short-term, we are also keeping our finger on the pulse of “now.”
- We’re already seeing well-known software companies entering the race to create. For example, Microsoft announced their plans to enable metaverse-types of features and functionality inside Teams with the development of avatars and immersive meetings.
- We’ll also see 2D productivity apps making an entry and be available on Quest 2 for virtual collaboration, including Slack, Mural, and Dropbox.
The ad campaigns and influencer marketing brands in the real world can exist inside the metaverse as well. For example, billboards, signage, and print pieces should all have analogs in the virtual world.
The ad campaigns and influencer marketing brands in the real world can exist inside the metaverse as well. For example, billboards, signage, and print pieces should all have analogs in the virtual world.
What Is Next?
Meta’s ambitious vision will take years to realize. We’ve seen the company formerly known as Facebook tease announcements of their technology years before big updates are introduced to the public. For example, Horizon was announced in 2019 and we’re still awaiting its release.
To make this vision a reality, Meta will need to start building interest in this connected world by continuing to make high-quality AR and VR headsets that are affordable and easily available. The Oculus brand may shift toward Meta branding, and variations of headsets will be offered from low entry to pro models. To simplify access, Meta will soon enable consumers to log in without a requirement to associate accounts with a Facebook page.
Meta has made a point to call on developers and creators to help shape what Horizon and the metaverse will look like, along with offering a $150M fund to contribute to building this new world. It is very possible that marketers can build ad platforms within new social worlds that exist inside VR games and experiences.
For healthcare and life sciences there’s an opportunity to build compliant experiences that help patients and caregivers connect with their communities and to learn more about their conditions and how to manage them.
For healthcare and life sciences there’s an opportunity to build compliant experiences that help patients and caregivers connect with their communities and to learn more about their conditions and how to manage them.
NFTs will power the economies of the metaverse and will make it possible for users to have direct control over their avatar, their inventory, and more importantly, their personal and confidential information. Unlike today where companies and platforms collect and often sell a users’ data without them knowing, the NFT economy and underlying distributed nature of the metaverse will allow those users to select the types of data they are okay sharing and get paid or rewarded for sharing it. This type of transparency and control will create more — not less —direct marketing between businesses and consumers, not just to the individualized level, but to any aspect of their individuality like eye color, the car they drive, education level, or anything the user is okay sharing.
Intouch has been a long-time Oculus partner as an ISV (Independent Software Vendor) partner, so we’ll continue to work with Meta moving forward to help shape this landscape. In fact, Intouch’s Gaming Task Force was launched last year to partner with game developers, create native ad units in games, and explore what’s next for the future of gaming for consumers and marketers.
We’re excited for this future and ever connected world. As the metaverse continues to emerge, we’ll continue to be a part and share more information about how brands, patients and others can co-exist and thrive, while providing insights about what marketers need to know.
Author information, in alpha order: Andrew Grojean is associate director of innovation for Intouch Group; Daniel Kernkraut is group planning director, paid social, for Intouch Media; Jeff Macfarland is VP, group innovation director for Intouch Solutions; Linda O’Neill is director, innovation for Intouch Solutions.