HOW CAN BRANDS CAPITALISE VIA EMERGING PLATFORMS?
What you are about to learn. Emerging platforms.
In this article, you’ll learn the concept of what emerging platforms are, what technologies can be found behind these hybrids, and why they are extremely important for any brand’s future.
We’ll also cover some examples of how Web3 and metaverse-related concepts are being successfully proven and exploited by world-leading brands, such as Nike and Coca-Cola.
Finally, and most importantly, what can any brand, company, or business -such as yours- do about this paradigm shift, and how to seize the Web3 opportunity the right way.
WHAT ARE EMERGING PLATFORMS?
Emerging platforms can be labeled as many different things. They are such a new concept that one could have as many definitions as the number of people asked. But at their core, they can be defined as the new types of platforms that are born at -and within- the crossovers of new technological advancements. Having the following at the forefront:
- XR (extended reality)
- MR (mixed reality)
- VR/AR (virtual and augmented reality)
- Web3 (decentralization)
- Blockchain (the father of decentralization)
And by combining these with other visuals and tech advancements, specific products or services have consolidated:
- Tokenization platforms
- Metaverses and virtual worlds
We already covered several times the basics of the Metaverse as well as XR/VR/AR basics. You can learn more by clicking the articles below:
The future of Extended Reality
AR stands for Augmented Reality
The Metaverse – is it Retails salvation?
WHAT ARE WEB3 CROSSOVER PLATFORMS USED FOR?
All of them encompass critical axioms for brand building, such as community fostering features, and data protection, as well as acting as bridges to other user activities. The most important one: acquiring or purchasing products or services (sales). This can be extremely helpful for many industries: Health, Finance, FMCGs, etc.
On their own, they can be fun to have or even fun to experience. But mixing them into innovative crossovers for innovative experiences can be the key to unlocking the next era of retail, marketing, and brand growth.
Top-tier brands have been deeply experimenting with these crossovers, in some cases without having a clear path or direction. But that is still a good approach. No one knows for certain what products these technologies will conform to ten or fifteen years from now. But this ‘exploring’ spans from a certain feeling of unease large companies have.
LARGE BRANDS’ MAIN CONCERN: SECURING YOUNG GENERATIONS AS TOMORROW’S CUSTOMERS
Since millennials, and the generations that came afterward, many paradigms have shifted and will never go back. We must consider the fact that what looks like flashy tech to a baby boomer, is the native habitat of a Gen-Z and Gen-Alpha. And these younger generations are the consumers of the future. This means that if these traditional brands, don’t manage to make a dent in these generations’ hearts, they could become just a memory.
Someone said that if Coca-Cola stopped investing in marketing, in ten years there will be a human being that would look at a Coke sign, and won’t know what that is.
That’s why embracing these technologies and platforms, as a way to connect with these generations is more than critical. Is a life or death situation. And the most important factor while going through the learning curve of how to seize this opportunity is simple: experimenting. Gathering data. Iterate and improve.
It can be a treacherous path, since building products for Web3, Metaverse, and blockchain is not as simple as building Web2-era products. But for any brand, pushing forward is the only way. That’s why relying on expert agencies like Polar London is maximizing the chances of carrying out these experiments to a fruitful outcome: better growth, better brand value, and better community building.
WHAT MAJOR BRANDS ARE DOING IN THE WEB3/METAVERSE ARENA:
These major brands are juggling concepts depending on what their industry is, what their core user base is and what they expect from the brand. But observing what the titans are doing can be a great way to attempt to infer where these crossovers are pointing, at least in the near future.
Samsung
The tech giant has opened its NYC flagship store, but in Decentraland’s metaverse: “The virtual 837X store”. Users cannot only fully experience it, but they can also win limited edition items, interact with other users and go through digital-only community experiences.
Coca-Cola
Simple yet impactful. They launched a limited NFT collection coupled with a one-time-only virtual event on Decentraland. The event consisted of a virtual party on the rooftop of their ‘meta-building’.
Nike
Through a strategic acquisition, they now own a top-tier metaverse fashion brand. And to make the user experience even more enticing, some of their tokenized wearables can be traded or paired with real-life apparel items.
Louis Vuitton
For its 200th anniversary, the luxury brand broke the mold and launched a digital game that allowed players to collect exclusive NFTs.
Burberry
Thanks to partnering with Mythical Games, they offered branded NFTs as in-game wearables and even characters. Most of them were sold almost immediately.
Sotheby’s
The worldwide leading auction house not only brought NFTs to the classic art circuit, as the new element in town, helping with mainstream adoption, but they also opened a Metaverse gallery in Decentraland. The space is a virtual replica of their London venue.
Atari
Deeply rooted in the golden vintage era of video games, they took a leap of faith by bringing to life -within the Metaverse- their gaming franchises.
FINAL THOUGHTS
Even though the finer details may not have been discovered by these major brands, there is one thing for sure: the next era is here, and it involves the Metaverse, XR, VR, AR, tokenization, digital community building, Web3, and anything that can take a user experience to the next dimension.
Regarding smaller companies, they can still hop on this point-turning trend. All it takes is the leading guidance of an expert. That’s what we, at Polar London, are here for.
Learn what steping into Web3 can do for your brand today. Get in touch.