THE METAVERSE MATRIX FOR STRATEGIC PRIORITIES
(This post was originally published on June 7, 2021.)
The nature of ownership, self expression and engagement is evolving very rapidly.
Through new technologies such as NFTs and the Blockchain and more mature ones like Augmented Reality (AR), fashion, beauty and consumer facing companies are increasingly needing to interact with their consumers in both virtual and real world environments. Major players such as Gucci, Burberry, P&G, and Louis Vuitton are intently delivering their offerings, while upstart brands such as RTFKT and Auroboros are showing how they can break through.
Even though this space is very nascent, the speed and scale of innovation, news and transformation is significant. As with web 1.0 in the mid-nineties, there will be naysayers and non-believers who see the rise and fall of cryptocurrencies and exorbitant prices being paid for intangible goods that anybody could easily have for free with a simple screen shot as proof that much of these new technologies are little more more than a short-lived fad. We believe this view is short-sighted and off point and those leadership teams that separate currency craziness from brand application and utility and begin to proactively test will find themselves well positioned.
For brands, the opportunities include, among others, new revenue streams and business models, increased brand awareness and engagement, leveraging or rejuvenating historical assets and driving improved margins.
One of the keys will be applying these new technologies and platforms to tap into your consumer’s desire for self expression, sustainability, access, and experiences. Brands will need to decide what to port over and often re-imagine themselves as they engage consumers in multiple environments while not losing sight of the significant equity, awareness, and other intrinsic characteristics that comprise their value today.
As with all promising yet nascent technology areas, there has been a rapid proliferation of startups and service providers. While this is important and shows the space’s momentum, it makes it very difficult to navigate to the right partners and solutions. To that end, we have been building an in-depth domain map that organizes the startup ecosystem by commerce and distribution platforms, applications, infrastructure, content partners and more.
This will help match business outcomes to use case tests with the right potential partners.
USE CASES
The charts below highlight a cross-section of applications brands may want to explore. Immediately below that you can hover over the Business Outcomes for ideas on how these uses cases might be able to generate measurable results.
USE CASES
INNOVATIVE
Digital-Only SKUs
Virtual/IRL Collections
Cybergarments/Digitally Wearable
Direct to Avatar Brand (DTA)
Product Authentication
Branded Currency
Digital Only Influencers
NFT Licensing
Limited Edition Collectibles
Fractional Ownership
Branded Virtual Worlds
USE CASES
EXTENSION
Loyalty/ VIP Programs
Payments
Gaming
Physical Retail Marketing
White Label Platforms
Distribution Platforms
3D content environments
Augmented Reality
Virtual reality
Digital Rental
Subscription/Resale
CLICK THE + TO MATCH BUSINESS OUTCOMES
WITH USE CASES
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+
Digital-only SKUs
Virtual/IRL Collections
Direct to Avatar Brand
-
+
Branded Currency
Fractional Ownership
Payments
-
+
Product Authentication
Limited Edition Collectibles
NFT Licensing
-
+
Digital Only Influencers
Branded Virtual Worlds
Distribution Platforms
-
+
Augmented Reality
Virtual reality
Loyalty/VIP Programs
-
+
Digital-only SKUs
Virtual/IRL Collections
White Label Platforms
