Newsletter #12 - Metaverse & E-commerce: marketing hype or real market?

Ralph Lauren dresses racing drivers on Fortnite, Gucci sells bags on Roblox and Yves Rocher plants trees on Minecraft.

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More and more brands are integrating video games and the Metaverse into their marketing strategies, to the point of wondering whether it's a marketing stunt or a real market.

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In this newsletter, I will share what I know about the subject and show you the super-creative campaigns of brands launching themselves into the virtual world!

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What is the Metaverse?

The Metaverse is a virtual world inspired by science fiction:

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🌎 Unique and fully conceptualised,
📲 Accessible via any connected device,
🤝 Collective and cooperative,
😎 Created and operated by users who interact via avatars,
💸 Governed by virtual and independent currencies that rely on the blockchain (such as Cryptocurrency or NFTs).‍

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<sup>☝️ Not to be confused with Web3.

Web3 is a web version in which technologies and data are decentralised. Currently, our data is held by the companies that own the platforms on which we interact and create content (Google, Meta, etc.). In Web3, we would all own it, and our information would be stored and secured through the blockchain.</sup>

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When fully developed, the Metaverse will revolutionise how brands connect and interact with their targets and customers.

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According to the experts, this is still a good 20 years away.

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An up-and-coming business...

The Metaverse does not yet exist.

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But metaverses, virtual and independent universes, do.

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And it is a flourishing business:

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🤖 Roblox, the #1 metaverse platform, has surpassed $1.9 billion in revenue by 2021 and counts over 320 million users (67% of them under 16).

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🪵 The Fortnite platform, estimated to be the most profitable game in history in 2019 and valued at $21 billion in April this year, has more than 350 million users (62% of whom are between 18 and 24).

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🥽 As for Meta, while its augmented reality platform Horizon Worlds has only 300,000 users, its revenue could reach $630 billion by 2030.

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No wonder brands are setting out to conquer these new digital worlds to position themselves now with a younger, digital native target.‍

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<sup>👦🏼 Slow and steady wins the race

Before you think about releasing your products in 3D, I share here some tips to learn about Gen Z and easily adapt to their consumption patterns.</sup>

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... and ultra-creative!

There's no need to panic if you don't yet have the budget to launch a virtual collection: e-commerce, as we know, still has many years to go.

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On the other hand, brands' infatuation with these universes has led to the emergence of super-creative campaigns, which give a glimpse of what marketing could look like in the near future ⤵️

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🐎 Ralph Lauren dresses Fortnite avatars

The American brand recently launched a collection of clothing and accessories called "Polo Stadium" in collaboration with the platform and revealed it live on Twitch.

Real-life pieces were also available online and in shop.

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💅🏻 Urban Decay invites itself to Paris Hilton's party on Roblox

For Halloween, the cosmetics brand belonging to the L'Oréal group teamed up with the "Cryptoqueen" to host its first-ever virtual operation on Roblox.

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Users could interact with the brand and discover some of its products in dedicated rooms.

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🚗 Fiat launches its virtual car showroom

It's a departure from retail, but it's a first in automotive history!

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Developed with Touchcast and Microsoft, users can discover the brand's latest releases and even interact with the virtual version of a human advisor who answers all their questions.

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🌳 Yves Rocher plants trees in Minecraft

Last year, the brand partnered with the famous construction game to develop the "Minecraft #PlantForLife" project in favour of biodiversity.

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For every tree planted virtually, 1 tree was actually planted in one of the 35 plantations of the Rocher Foundation. The brand had set itself the goal of reaching 100,000 trees.

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👜  Gucci sells more expensive bags on Roblox

The luxury house launched the Gucci Garden on Roblox last year, a virtual exhibition space accessible for a few days only.

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It was a successful marketing operation for the brand, selling a virtual bag for more than its authentic counterpart.

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