What Is The Metaverse

A lot has been written recently about the metaverse, after Facebook’s name change. But what really is the metaverse. Here’s what you need to know.

 Wunderman Thompson Intelligence announces “Into the Metaverse” – a unique global report which serves as a playbook for brands and agencies, defining the metaverse and explaining its implications for brands.

Interest in the metaverse – a world in which digital and physical spaces are blurred – has grown significantly over the past year. As the world emerges from COVID-19, many are assessing the lasting impact of an increasingly screen-based existence and the impact of an accelerated convergence of the virtual and physical worlds.

The report is based on quantitative research with 3,000+ consumers including analysis of people’s understanding of and attitudes towards the metaverse and views of 15 industry experts on the metaverse’s impact on business.

The findings reveal global drivers such as the rise of gaming and the battle between companies such as Facebook, Roblox Corporation and Epic Games for dominance in this space.

Meta-trend highlights: 

  • MetaLives – the rise of virtual possessions, close connection between digital access and health and wellbeing, and technology’s role in creativity and lifestyles. 
  • MetaSpaces – the emergence and growing popularity of new virtual venues and blended virtual/real world spaces, redefining home, events and vacations. 
  • MetaBusiness – the uplift in “gamevertising” and emergence of new retail frontiers.

Key findings:

  • Global consumers’ growing reliance on tech: 76% of all consumers surveyed say their everyday lives and activities now depend on technology. 
  • Technology dependence now informs every aspect of daily life: 64% of global consumers say their social lives depend on it; 50% that their wellbeing depends on it. 
  • Digital is redefining consumer/brand relationships: 62% of consumers say they feel closer when interacting with a brand digitally; 66% prefer it. 81% of global consumers agree that a brand’s digital presence is as important as its in-store presence.

Naomi Troni, Global Chief Marketing and Growth Officer, Wunderman Thompson, says: “The time has come to stop thinking of the metaverse as solely a domain for gaming. Increasingly, it is a new social place that’s here to stay.”

Emma Chiu, Wunderman Thompson Intelligence Global Director says: “We’re entering the era of the metaverse, where our virtual and physical realities converge. Our report offers a glimpse into how this is shaping our future and lessons for brands on entering this space.”

Download the report here: https://www.wundermanthompson.com/insight/new-trend-report-into-the-metaverse