Tag: The Advertising Club

Mumbai: Things are moving towards an immersive connection, which is being powered by technology. One can share an incredible amount of information with an incredible frequency. The metaverse will change our conception of the world’s businesses, industries, brands, and creators. Some devices can help you get there, but more technology will come.

At The Advertising Club’s third edition of D:CODE Meta India, marketing director Avinash Pant enlightened the audience about the evolution of social connections and the exponentially growing metaverse space, empowering meaningful experiences.

He said, “Metaverse will take what we love about the internet today, which is about connecting with someone not present in the physical space, and take it to another new level. This is an incredible opportunity in front of marketers.”

A “metaverse,” he added, is a set of interconnected digital experiences that are able to make you feel present. One can do this from any device, with anyone and anywhere. But the myth he burst is that it is a dystopian reality where people are engrossed in headsets and are completely removed from the real world. That is not the case.

All technologies put together will make things real and present. There will be a virtual home or many homes. There will be many social experiences. One could work with colleagues in the metaverse. The metaverse does not have to be a representation in the virtual world of one’s physical world. It does not have to follow any of those rules of time, space, or physics. He continued, “The ability to create incredible experiences provides a fascinating opportunity in terms of creativity, storytelling, brand narrative, and commerce.”

He expects avatars to be synonymous with our digital identity. One way to think about today is that the digital identity is the Instagram handle. Ten years ago, it was an email address. The expectation is that, in time, the avatar will become the digital identity. How do you make it lifelike and more representational? How can it help you present yourself in the digital world? These are things to be considered by digital marketers.

Felt presence, he said, is one of the concepts of the metaverse. One can be with a friend at a concert through things like a hologram or VR. It will provide an incredible personal social feeling, but you can also share that experience. Even in a professional environment, you can do your dream job while sitting anywhere.

He further noted that Meta has a workroom product. You feel present because you see someone’s body language, get an idea of their expressions, and how they react as well. The potential this has in commerce is huge. When a consumer can fully immerse himself in an experience, it becomes a powerful tool for a brand.

But it’s not just about showing off a physical product. He explained that if consumers are living in that reality, then brands have to rethink the concept of who they are. What is the business the brand is in? There is much more significant potential. The metaverse is not predicated on 2D screens. A more immersive setup is possible.

He gave the example of helping students understand concepts like the solar system better. Meta has done work with the CBSE in this regard regarding the curriculum. He feels that Meta has a fantastic foundation in terms of technology and the platforms that it has built. The work being done in communities, creators, and commerce puts it in a great position to leverage the metaverse. The idea of community itself is evolving. On the creator side, Meta is doing a lot of work to build the creator economy. Also, the idea of storytelling is evolving. People want to interact with content, play with it, not just consume it.

He also gave the examples of Instagram Reels and AR. In terms of commerce, he said that there was a time when if one had to buy something, you would walk over to the market. Then you started searching online. Today, it has moved from search and buy to discover and buy. People discover brands and services on social media. This spells a massive opportunity when you connect the dots to the metaverse. As a brand, you have to think about it to power demand. Digital collectibles are being unlocked on Meta. All this is coming to bear at a super speed. The ecosystem will be revamped.