Consumers are increasingly skeptical of the metaverse. Brand marketers disagree.
Fifty-one percent of marketers named AI as their biggest tech investment priority in a survey of 408 executives conducted by research firm Advanis on behalf of marketing automation software maker Sitecore last month, compared with 8% who placed the metaverse at the top of the list. When asked where the money to fund these AI initiatives might come from, 48% of respondents pointed to their metaverse budgets.
So it is striking that many big brands still say they will continue making long-term investments in the immersive, three-dimensional digital experiences that define the metaverse. Roblox, which lets players drop their avatars into millions of 3-D virtual experiences, is on track to double the number of branded worlds it hosts this year after recording about 100 in 2022, a spokeswoman said.
Mastercard spends a relatively small amount on marketing campaigns in multiple metaverse platforms to ensure that it won’t miss out whenever one eventually reaches significant scale, Mr. Rajamannar said, citing Meta’s Horizon Worlds in addition to Decentraland and Roblox.
“It’s one component, and that one component is not going to make or break our budget,” Mr. Rajamannar said of the metaverse. “So therefore, I’m not particularly worried if this whole investment goes to waste because that’s part of the game, right?”Photo:
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