Why the Metaverse is less ridiculous than you think
by James Allen
Photo by Fredrick Tendong on Unsplash
Not long ago, the word ‘Metaverse’ was often greeted with little more than a derisive smirk. Blockchain technologies such as cryptocurrencies and NFTs similarly took some warming up to. And even still, when describing NFTs, often the only Bored Ape in sight is the person you’re trying to explain it to.
The Metaverse is everywhere now. Yet for many it still conjures connotations of red and blue pills and far-off, dystopian, Huxley-esque future worlds. And even those who don’t fear it would likely be left umming and ahhing if asked to succinctly define it. The challenge for a brand seeking to seamlessly slot into the Metaverse is how to do so without being the unwelcome, naff, age-inappropriate intruder.
Gen Z and Gen Alpha, whether they realise it or not, are already au fait with the concept of the Metaverse, largely thanks to their familiarity with platforms such as Minecraft, Roblox and Fortnite, in which they meet up with friends in elaborate digital worlds. If a brand wants to enter the Metaverse, they need to know they are entering the Next Gen’s world. So they best come correct.
The temptation is to treat the Metaverse as if it’s merely some fun, new gimmick. “We should be on TikTok” is swiftly being replaced by “We should do some NFTs” in the world of out-of-touch executive chatter.
Brands in sectors that don’t perceive themselves as typically tech-y may view it as an esoteric, foreign concept that has little or no relevance to them. This is nonsense.
Or if it isn’t currently nonsense, it will be sooner than you can say Ethereum.
The efforts of some luxury brands who have boldly ventured into the Metaverse are a testament to its potential. Even if the prospect of buying clothes you could never possibly wear seems nonsensical to some, the growing appetite for just such products can’t be ignored. And without wanting to trot out the fairly cut-throat adage ‘if if makes dollars, it makes sense’, that does seem a particularly pertinent axiom in this context. High fashion houses such as Burberry, Gucci and Balenciaga have started flogging digital garments and accessories over the last year or so - and they’ve been making millions in the process.
This isn’t anything new. It’s just new to mainstream culture.
Taking another example from the gaming world: for years gamers have been buying digital clothes, or ‘skins’, to allow them to express their online identity. Indeed, if spending exorbitant sums on a scarf to flaunt around the ‘real’ world seems significantly less silly than doing likewise on a digital garment to share with your online community, then perhaps your point of conflict has become slightly warped. The lines between what is real and what is not have been blurring for years, and will continue to do so as complex digital worlds become ever more pervasive.
Novelty is a uniquely youthful concept. The Metaverse by its very nature is novel. Traditionalists may be waiting for that novelty to wear off, but given how many things we now treat as normal which were nigh-on inconceivable a couple decades ago, such an expectation would not be taking on board the lessons of history. Nor would it be a wise strategy.
The Metaverse is simply the next step (admittedly a fairly colossal leap at that) on a trajectory that has seen Gen Z and Gen Alpha migrating online, partly due to circumstances over the last couple of years, but also largely due to choice. This is where they now are, and where they often now want to be.
In the same way that there’s a place for brands in more traditional spheres of culture, so too is there in the Metaverse.
Regardless of your personal thoughts on the Metaverse, it’s here to stay. Brands and marketers need to learn how to embrace it. While it is not a world manufactured bespoke for Gen Z, it has largely formed around their sensibilities. So expect them to be protective over it if they see anyone sticking out like a sore thumb just trying to make a quick buck. But this shouldn’t scare brands off - it should just encourage them to understand what they’re getting into.
And we intentionally haven’t given any precise definition of the Metaverse, so if you’re still scratching your head, maybe it’s time to do some research…