How metaverse is emerging as new battleground for brands

Industry experts opine that marketers are flocking to metaverse largely to keep youth engaged with their products and technology Technology runs our lives these days as digital transformation has proved to be absolutely essential in today's era. The rapid adoption of the

by Team PITCH
Published - March 22, 2022
4 minutes To Read
How metaverse is emerging as new battleground for brands

Industry experts opine that marketers are flocking to metaverse largely to keep youth engaged with their products and technology Technology runs our lives these days as digital transformation has proved to be absolutely essential in today's era. The rapid adoption of the internet has grown exponentially leading to several technological advancements, with metaverse leading the charge. Metaverse, an immersive virtual environment that is swiftly taking over the internet, is one of the key advancements that is taking the advertisement and media industry by storm these days. Such is the craze that brands are in a race to outdo each other in the metaverse space and the Holi festival came as the right opportunity for them. The metaverse in its true capacity, enables us to dovetail into a virtual world.

Meanwhile, Tata Tea Premium-Desh ki Chai, also celebrated “World’s first Holi Party” in Metaverse designed by Wavemaker India. Their virtual Holi had a special performance by music sensation couple Sachet Tandon from Uttar Pradesh and Parampara Tandon from Delhi. The duo brought alive the magic of UP’s Lathmaar Holi and Delhi’s Rangwali Holi. Tata Tea has launched special festive packs capturing the excitement of Holi for some of its markets like Delhi and Uttar Pradesh. Yug Metaverse also held the “first-ever 48-hours non-stop Holi in metaverse starting from 18th March till 20th March in collaboration with blockchain players Blocktickets (www.blocktickets.io) and CoinSwitch. Why are brands rushing so much in the metaverse space? Metaverse is the next big thing in the world of Web 3.0. Metaverse events and festivals are happening around the world, including India. This is for the first time that an Indian festival has moved to the virtual world. The youth has been living in a parallel world of gaming and metaverse for years now. The pandemic-induced behavioral change has provided an additional push to the virtual world, industry leaders say and Indian brands have started taking note of it. "Metaverse is not the future, it's the present and it's building up all around us. We appreciate Diageo for sharing the same vision that we have about the new ways of experiential marketing and engagement to reach out to the youths of this country." said Rajat Ojha, Chief Creator of PartyNite, which collaborated with Diageo that makes McDowell's soda. Rahul Vengalil, Managing Partner of Isobar, a dentsu group company, says that marketers are flocking to Metaverse largely to keep youth engaged with their products and technology. “Metaverse offers a more engaging way for brands to connect with new millennials and Gen G than digital platforms like social media and Zoom. Hence, more and more brands are investing and creating events, festivals, offices and cities in Metaverse these days. This spells a paradigm shift in marketing and consumer interactions, especially the young cohort, which has almost quit TV and Facebook,” Vengalil said. Ambika Sharma, Founder and MD of Pulp Strategy, opines, “Metaverse is what social media was 13-14 years ago. It is an entire marketing playground for brands. It represents the replica of the actual world cafes, malls, cities and restaurants among others. Luxury and fashion brands could easily play up in this space.” Sharma feels that the metaverse will expand further with more and more brands joining the bandwagon. Besides, mixed reality, a fusion of virtual and physical worlds, will open up more dimensions for engagements in the coming days.

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