Your Virtual Ad:

Advertising in the Metaverse

The metaverse is here. And as we know, where people go, companies go. The community of users on platforms such as Sandbox or Decentraland is growing out of all proportion, attracted by the new Metaverse concept. Decentraland already gathers no less than half a million users, a record number for the website – who wouldn’t want to put up a big advertising banner in a place so crowded with customers? Of course, all the companies that are up to date are starting to get in on the act. So much so that today you can order a Dominos Pizza at a location located in the Metaverse (They deliver it to your actual home, or so we hope). Below we will take a look at how companies are moving through the metaverse, as well as what strategies they are using to increase their customer base in a virtual world.

Metaverse Advertising: Where do I put the sign?

The big question for many companies has been: How do I get a user to see my business and decide to buy? After all, the metaverse is a completely new concept, which makes it a very easy place to go wrong. This isn’t New York’s Fifth Avenue, where you’re assured of a good number of customers walking by. Here you have to work through trial and error, and that’s exactly what companies are doing. Decentraland is the metaverse platform with the most users at the moment (about 500,000), so it is being the focus of many businesses. In order for you to understand how companies decide to place their stores I will explain in a nutshell how Decentraland works.

Decentraland

This page works through coordinates. The center zone, where users appear each time they log in, is zone 0,0. From there, 4 axes open up so you can go in any direction. Basically Decentraland is a huge square of 301×301 plots, and the 0,0 point is located exactly in the center of it. Each plot is a unit of land that can be bought and sold on the “Open Sea” market. Theoretically, the closer a parcel of land is to the 0.0 point, the more valuable it is, because users are more likely to come across it. Therefore, businesses are looking for plots of land as centrally located as possible. There is one stretch of land in particular that has been singled out as a “favorite” by fashion retailers around the world. So much so that it has been named “Fashion Street”. This has caused land in this area to reach stratospheric prices, reaching around 400,000 € per plot. The stores located in this area sell two types of items: Clothing and accessories in real life NFT to use in your Decentraland avatar. Therefore, in the virtual store you can be redirected to the website of a company to make a real order, or buy a Louis Vuitton jacket for your avatar to take it to the highest spheres (virtual, of course).

The Strategy

We are in a stage of development and creation of the metaverse, so companies are betting on the future without being completely sure that they will succeed. Even so, more and more companies are deciding to join the Metaverse adventure. The price of buying a virtual land today may not be within the budget of many companies. For all businesses that don’t want to pay for land in the most expensive real estate in the Metaverse, we have the solution: The Marketplace. Expensive brands have the dominant hand in land and virtual stores. Still, you can list your items as NFTs available to avatars. The real-life equivalent would be as if, instead of having a physical store, you listed your items on Amazon. A good example would be a jewelry store that recently listed their products on Decentraland. Through its Instagram page it invited all its customers and followers to buy necklaces and all kinds of virtual jewelry (for a more reasonable price than in reality). This extra income in NFTs material for avatars has allowed many businesses to get ahead in the Metaverse without the need to have a gigantic store in virtual terrain. Now you know how to advertise your business in the metaverse, so don’t hesitate to explore all your options and start being part of the future.

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