Sitting comfortably in your living room, you take out your Oculus Rift VR virtual reality headset and put it on your eyes. And that’s how, suddenly, you find yourself giving a press conference in virtual reality to journalists from all over the world.
Welcome to the metaverse, one of the many possibilities for brands, which are increasingly attracted to explore this exciting world, located on the border between the real and the virtual.
It is an expression that comes to us from the realm of science fiction a few decades ago, but which has recently imposed itself at the heart of public discourse, as the next stage of technology and the Internet.
Like brands in the mid-90s that couldn’t ignore likability dotcomsbrands are now trying to understand the metaverse and how this technology can help them build their online reputation.
For Edouard Fillias, CEO and founder of digital communication agency JIN, the opportunity is unparalleled: ” think of the metaverse as a place rich with many new social platforms, including hundreds of new apps like TikTok “.
For Édouard Fillias, brands must face a double challenge: to understand this new world, but to know how to navigate and behave within it.
The Metaverse: What Is It and Why Are Brands Ignoring It?
Some are now criticizing the hyper-hyped metaverse, also called the basic concept of Web3, which, due to the recent crash of the cryptocurrency market, may have reached its speculative bubble. But, for others, the metaverse is a god.
This is what the CEO of JIN, an influence and digital communication agency based in Paris, thinks. According to him, Web3 is the next iteration of the internet.
Édouard Fillias is a recognized liberal, vice-president of the Think Tank Génération Libre. For him, Web3 is strongly linked to individual freedom and the growing desire of individuals to regain control of their data and identity online.
” We see large technology companies both collecting large amounts of personal data and creating amazing services, but also raising questions about individual freedom, privacy, and our own freedom. “, explained Edouard Fillias.
Web3 is an innovation regarding these problems. If a video or post is published on YouTube or Instagram, it can be seen on the profile, but it also belongs to the platform, which can delete it at any time. The new “Blockchain” technologies, on the other hand, create a secure system that removes the role of an intermediary, usually large technology companies, to make transactions. Everything you create online in this world is your property. Portability – the ability to transfer data from one platform to another – can also reduce network effects that allow tech companies to collect a lot of data and become very powerful.
The Metaverse sits at the center of it all. It is a digital extension of the real world where we virtually interact, communicate and collaborate with each other, as well as store our digital assets.
Édouard Fillias draws parallels with some of the multiplayer online games such as World of Warcraft and Dungeons and Dragons. This gives an idea of their ability to foster community in immersive digital environments. In addition, new dynamic incentives, such as NFTs or games Game To Earnreward customers for their interaction.
How can digital agencies support companies in their metaverse strategy?
For Fabien Fichet, account manager and metaverse product manager for the JIN agency, the strategy takes place in 3 stages.
First of all there is the learning expedition. Basically, it’s about educating the team to make sure they have a thorough understanding of the world they’re about to enter. This includes navigating the world of cryptocurrencies, NFTs, and extended reality (XR), among other things. Overlapping universes where a map is created to help users find their way.
” We took the leadership team for a day in the metaverse “, explained Fabien Fichet. ” We give them VR headsets, create avatars for them, and let them experience this world for real “.
The next step is to build Metaverse’s corporate headquarters. It is a question of understanding how a company, a brand wants to establish itself physically in this virtual world.
” The questions we explore are “Should you do NFTs?” and “Should you create a virtual office space?” », Analysis by Fabien Fichet.
Finally, there is the last step and not the least. The JIN agency calls this “extended activation”. It’s all about helping brands stand out in this world.