The marketing world has been abuzz with talk of the metaverse for over a year now. From Wendy’s to Louis Vuitton, brands are leaning into the possibilities of Web3.0 as an opportunity to further ingratiate themselves to their customers. However, there is still a gap with consumer adoption, despite the attention it’s being given.
For one, the average consumer does not understand what the metaverse means, according to eMarketer. Secondly, it requires an investment: in a headset, in a game, in time. And most marketers aren’t willing to make that leap when they don’t understand the value.
From my perspective, though, the industry has been overcomplicating the concept of the metaverse rather than making it accessible for audiences. Rather than pointing back to the origin of the word from the 1992 novel “Snow Crash,” let’s instead compare the metaverse to something widely known and understood — not the obvious like The Sims or Fortnite. Instead, let’s discuss how MySpace created the gateway to the metaverse…