Assessment: The metaverse is a relatively new term to describe a futuristic internet with virtual experiences where people can customize avatars—digital images representing themselves—to play games, make virtual purchases and interact and attend events such as concerts and comedy shows.
From Verizon to Nike, corporate giants are embracing the Metaverse as a place to hock their wares. The idea of separating people from reality makes it much easier to manipulate them into making purchases that they otherwise might not have made. The Metaverse is the height of social isolation and data mining, both of which contribute to Mass Formation. TN Editor
“For by Him all things were created that are in heaven and that are on earth, visible and invisible, whether thrones or dominions or principalities or powers. All things were created through Him and for Him.” Col. 1:16
Brands had been toying with the metaverse for some time before Facebook’s recent name change turned the term into a household word. Now some of them are getting serious.
Companies including Chipotle Mexican Grill Inc., Verizon Communications Inc. and streetwear brand Vans earlier this year built their own digital worlds on metaverse-like platforms such as Roblox Corp. and Fortnite Creative in an attempt to improve brand recognition and get existing customers more engaged.
Their efforts are a sign that advertisers, which have long been hesitant to spend marketing dollars on experimental efforts, are warming to new digital platforms. Facebook’s late October announcement that it would develop a metaverse environment, including investing $10 billion on the effort this year and changing its name to Meta Platforms Inc., is expected to accelerate that trend.