Samsung will spend more than $35million on metaverse projects in the Latin America region

Samsung's $35 million metaverse deal: Recently, one of the largest electronic businesses in the world, Samsung, has said that it would be spending more than $35million on metaverse projects that are targeted toward clients in the Latin America region. This move is being made as part of the brand's ongoing digital push and growth marketing plan, and its primary objective is to facilitate the brand's ability to attract and interact with younger people in upcoming generations in this region.

Metaverse in Latin America

In an article published on Dec. 20, Anita Caerols, director of marketing and corporate citizenship of Samsung Electronics Chile, explains the motivations behind this virtual reality push for the company. She stated:

At Samsung we believe that the metaverse is a concrete commitment to connect with young consumers. That is why we are investing more than US$35 million in initiatives that cover all of Latam.

Furthermore, Caerols believes that fully immersive platforms are part of the future of marketing and that for digital natives, the current metaverse is a natural extension of social media platforms, making it a sensible field for Samsung to explore.

Samsung's metaverse deal

Samsung's emphasis on the Metaverse, and the amount of money invested in this area, is justified by the marketing vision presented by the company. In this regard, Caerols explained:

If a company needs to talk to and connect with young audiences, prospect current and future potential consumers, and engage with new influencers, it is imperative that they are in the metaverse now.

Generation Z and Generation Alpha audiences, more accustomed to these platforms, are the ones Samsung wants to attract to its proposition and products. According to a LinkedIn study, 400 million users currently linger on metaverse platforms each month, 51% of whom are 13 years old or younger.

The marketing vision presented by Samsung justifies Samsung's focus on the metaverse and the amount of money invested in this area.  Furthermore, according to a LinkedIn study, the various Metaverse platforms currently have an active audience of 400 million monthly users, 51% of whom are 13 years of age or younger.

The barriers that currently separate the virtual and real worlds will undoubtedly not exist in the world that this younger generation creates in the future. However, which means there will be many opportunities to build together.

Like their digital influencer, SAM, which is a center for brand and event innovation and is also the avatar depiction of the spirit of the Samsung brand; their island in Fortnite called the Samsung Smart City, where the business thinks that the connection with their customers is established via gamification; and, most recently, House of SAM in Decentraland.

Samsung is of the opinion that organic commitment to society will increasingly become a vital aspect of the process of unifying the communication and marketing strategies of large brands.

Samsung's interest in the virtual world is not new. However, the company has already taken steps to become a part of various metaverse platforms. The company launched its "House of Sam" experience in Decentraland in October. However, allowing users to interact virtually with the company's products. In July, Samsung also released "Space Tycoon," a Roblox metaverse experience. It allows users to be a part of a space station where they can build Samsung products using raw materials.