Future of marketing in the metaverse

Abstract

Artificial intelligence (AI) bots are evolving into our closest friends, non-fungible tokens (NFTs) have transformed digital ownership, and our smartphones have evolved into our homes. Virtual vocalists have become a multibillion-dollar industry. In virtual worlds, we are reproducing our routines, passions, and obsessions. From choosing clothes and vehicles for our avatars to drive, to fostering virtual intimacy, from zoning digital land and building virtual homes to hanging out with friends at the virtual mall, from hosting holographic meetings to pursuing the allure of a more equitable and inclusive society, there are many ways to engage in virtual reality. We are outgrowing the limitations of the internet as it was first developed and ushering in a new era of digital platforms. The word "metaverse," first used in Neal Stephenson's sci-fi book Snow Crash in 1992, refers to a fusion of virtual and real existence. Nearly 30 years later, that description is coming into focus. Some refer to it as the "new internet," while others refer to it as a "democratized virtual society," or a "digital duplicate of our own world." It's obvious that this is not the internet that we were first exposed to. It is the following evolution, the successor to the mobile internet. It will gradually become apparent over time when various goods, services, and capabilities combine and integrate. In the last few months, there have numerous been signs of this development. Accelerated development of augmented reality (AR) and virtual reality (VR) technology, the expansion of gaming platforms as social and cultural hubs, and the competition among businesses to lay a claim on a particular region of the metaverse.