One example is the energy drink brand Monster, which released special-edition cans with codes used to activate double-XP sessions for players in the video game “Call of Duty.” They understood their demographic - young gamers who enjoy “Call of Duty”- and provided virtual as well as physical value.
If retail brands don’t develop offerings in multiple channels, they will start to see customers migrating. Users are beginning to expect value in virtual and physical environments to come hand-in-hand, from in-person events that are also streamed to products they can also post on social media.Īs we move away from the 2D internet and into immersive worlds, that value has to be provided direct-to-avatar. That said, our digital identities are fragmented across platforms, so brands need to understand their audience to provide value in the platforms their target demographic is active on. Since most of us place value in creating and maintaining our physical identity, why wouldn’t we do so for our virtual counterparts as well, particularly if we spend just as much time, if not more, inhabiting this counterpart? This is why people purchase NFTs to put as their Twitter profile picture, why users spend hours designing their Snap bitmoji avatar, and why players in “Grand Theft Auto” do in-game tasks to afford the latest supercars. We have been building out dual identities for a long time, especially since the pandemic. Like everything about the Metaverse, these approaches are just continuations of trends that have been going on for years. In this way, products exist in both physical and digital realms, providing value on multiple fronts and reaching the broadest possible audience. Organizations might offer tickets to an in-person event but follow up with virtual value like merchandise for avatars, in-game points, or even just access to a digital version of the event. P2V, or physical-to-virtual, is already being deployed on a larger scale. Some brands are experimenting with this model by selling NFTs representing virtual items, then shipping physical goods to the user who acquires the NFT. Retailers can display products using immersive technology like augmented reality (AR) or virtual reality (VR) provide value to the user’s virtual identity or avatar and follow up with physical benefits, too. Another approach is V2P or virtual-to-physical.
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