Learn About These Features Before Flying Blind into Metaverse

These features of Metaverse are must-know for enterprises to grow

Everyone from Gordon Ramsey to Snoop Dogg, and brands like Microsoft and Netflix, are rolling up their sleeves to create their space in the metaverse. Business leaders looking ahead are asking how to make their foray into the arena, and many questions loom large. Here are some of the features that are a must-know for enterprises before diving into Metaverse.

The metaverse is like nothing we've ever experienced, which is why old paradigms won't work. Namely, information gatekeeping by large corporations, the steady stream of interruption marketing pointed at consumers, and predictable ROI on brand campaigns. On the contrary, the bedrock of the metaverse rests on decentralization, where ownership and user-generated content reign supreme.

This means legacy brands or personalities who have had success in a Web2 environment cannot assume their success will translate to Web3, at least in the same way. Sure, your market cap or number of TikTok followers may be impressive, but these won't give you a leg up in the metaverse ecosystem. Rather, the currency of Web3 is about creating engaging experiences that add value and meet your target audience where they're at, not pushing your brand agenda, or using your virtual space as a billboard.

A great example of this approach is Nike. The company wanted to offer unique virtual products and experiences to unite its community and establish a brand presence in the metaverse. Rather than trying to build everything from scratch, Nike acquired RTFKT, a leading digital fashion design studio specializing in creating virtual sneaker collectibles. Together, the pair created a line of virtual sneakers called Cryptokicks, in addition to virtual spaces where people could interact and hang art and NFTs on their walls. This highly successful partnership helped Nike quickly find its feet in the metaverse, with 7 million people interacting with its metaverse creations in just six months.

Your community is the foundation of your success in the metaverse. It's easy to get caught up in new immersive technologies that dazzle. But the metaverse is about so much more than just digital spaces. At the core, it's about creating a sense of belonging, identity, and community.

Of note, the recent move by soda brand Jarritos to enter the Web3 space demonstrates that any brand can find a sweet spot with a community-led strategy. Jarritos was founded in 1950, in Mexico. As a 70-plus-year-old brand, the company wanted a way to connect to new customers and refresh its brand image. Jarritos decided to partner with a popular NFT brand called Gutter Cat Gang, an NFT collection with a community deeply rooted in the brand (owning different NFTs from Gutter Labs unlocks unique levels of membership and community perks). Jarritos purchased a Gutter Cat NFT for their marketing campaigns and used the collaboration as a jumping-off point to connect with the already thriving Web3 community.

Taking this community-first approach helps you hedge against Meta-like flops since you're building onto an existing community that's already united by preferences, values, and a keen appetite in engaging with you.