How Does The Metaverse Affect Advertisers

Today, there are few in the digital advertising space that are unaware of the metaverse. However, we couldn’t say this was the case even six months ago. In October 2021, Facebook changed its name to Meta, thereby laying the foundation of the next big move for this massively popular social media platform. Later last year, Facebook also announced their unique concept for the metaverse and made the public aware of what it could come to be in the next 5-10 years. And we know that a lot can happen in a decade. If we look back 10 years, Facebook was still fairly new. But today, billions of dollars of advertising are spent on Facebook every year. But will this metaverse be as big and as much of a game-changer for advertisers as Facebook was? Will this change the way social media advertising is being done currently? Only time will tell but we seek to find out how it might potentially affect advertisers in the years to come.  

What is The Metaverse?

A metaverse refers to a shared virtual-world environment that people can access via the internet. According to Reuters, it consists of digital spaces which are made more lifelike through the use of virtual reality or augmented reality. Still not clear what it means? Think of the hit video game Fortnight, a virtual reality game where avatars play the game in real-life, fighting against each other and attending events that are held in that metaverse. Every person playing in the metaverse will have their own personal digital presentation. Facebook’s metaverse goes beyond video games and incorporates real-life elements. You could just be walking down the street or chatting with your friends in the garden in its metaverse. It’s a whole new planet with real – but virtual – people in it.