49% of marketers claim their companies already have created a strategy for metaverse, according to TINT.
As brands launch marketing initiatives like in-game characters and non-fungible tokens (NFTs) in the metaverse, as a result of FOMO, many could risk fatiguing their consumers. With businesses striving to capitalise on metaverse activations, their enthusiasm may deter consumers.
Brands investing in the metaverse must offer clear value-proposition to encourage users to spend their time in the virtual space, rather than burning them out. As the fatigue and FOMO caused by businesses and consumers getting acquainted with the metaverse fade, more consumers may become less cynical.
Also, because metaverse platforms are still in the early stages, companies looking to invest in the concept should be aware of the risk of failure. Nada Stirratt, Meta, states that, “There’s no metaverse to invest in right now”, indicating its nascency.
[4 minute read]