The concept of the metaverse is increasingly capturing attention and driving businesses, yet its definition remains somewhat nebulous. In the realm of advertising, navigating this emerging landscape is a challenge, as the term “metaverse” encompasses various interpretations.
The popular understanding of the metaverse involves virtual and augmented reality experiences accessed through devices like goggles or glasses. This concept includes MMO gaming platforms such as League of Legends, Fortnite, and World of Warcraft, or platforms like Roblox and Minecraft, which are also considered metaverses. The advertising industry is exploring ways to engage with these environments, such as in-game advertising, product placements, and NFTs, but lacks a standardized definition of the metaverse, which still resides in the realm of science fiction.
The term “metaverse” has its origins in Neal Stephenson’s 1992 book “Snow Crash,” which introduced the idea of a virtual reality world transcending physical limitations. However, its practical realization has seen various interpretations. The rise of the metaverse has been spurred by the emergence of digital artwork and meme tokens within platforms like Bitcoin.
Defining a metaverse for the advertising industry involves several key characteristics. First, it must be online and connected to the internet infrastructure, with the platform always active and accessible via a variety of devices. Multiple users should interact within the metaverse, creating a communal space where people can engage in activities like gaming, chatting, or virtual meetings. Real-time interaction is another vital aspect, as metaverse users expect immediate engagement, distinguishing it from non-temporal online communities like social networks.
In summary, a metaverse, from an advertising perspective, can be described as online, real-time communities, with public accessibility, where advertising and brand engagement can occur. However, as the digital landscape continues to evolve, the definition of the metaverse may adapt to encompass the 3D web and become an integral part of digital advertising or simply “advertising.” For now, this definition can guide the advertising industry in understanding what falls within the metaverse realm and what does not.
