Wednesday, January 26, 2022

Predictions 2022: The Next Wave – Blockchain, Metaverse, and More

In the thirteenth article of ExchangeWire’s 2022 Prediction Series, Industry figures share their hopes for new technologies in the coming year – particularly the rapidly evolving metaverse, NFTs and blockchain.

NFTs will get a boost in gaming

Predictions 2022: The Next Wave - Blockchain, Metaverse, and MoreNFTs have become extremely popular in recent years, reaching USD$2.5bn in sales volume in the first half of 2021. However, NFTs are currently an under-utilized source for the gaming world. Some companies, like Ubisoft, are launching Ubisoft Quartz, where they will offer NFTs they call “digits”. Also taking note is the launch of Polygon Studios, which focuses on helping to advance blockchain gaming and NFTs, in July.

In 2022, it would be wise to jump on board more gaming platforms. This will be the year when more gaming platforms finally open their eyes to all the exciting changes that are likely to happen in online gaming in the not-too-distant future, and understand the value of leaning into this untapped market.

Jessica Rovello, CEO and Co-Founder, Arcadium

Brands will spend marketing to define themselves within the metaverse

Yasin Dabhelia

Many people are predicting that 2022 will be the year of the metaverse, but this concept is nothing new. Epic, Roblox and now Meta are all already investing heavily in collective virtual spaces where we can play, work, exercise and socialize. And so, with our focus elsewhere, in 2022 we will see more brands spend specific marketing to accelerate the growth of their brand identity within this new space.

Our daily digital interactions are already changing; The way we consume content and interact with friends is changing to accommodate our virtual presence more than ever, and over the next few years we’ll start to see more that the Metaverse, its users And how brands can work together.

Most recently, John Lewis and ITV have been active within Fortnite, while Nike launched Nikeland in Roblox. These are prime examples of how brands can authentically and successfully implement brand-led Metaverse experiences, while allowing you to buy and collect digital goods known as NFTs.

NFTs are a way to buy and sell digital assets that represent real-world commodities, and we are already seeing a rapid increase in demand for them. Sotheby’s, known for selling high-value items, already has deals in the Metaverse, and luxury brands like Balenciaga sold their NFT collections in under 33 seconds.

In 2022, NFTs will represent a multi-billion dollar market and will become more accessible for any user to buy and sell their most loved collectibles from the real world in the virtual space.

Yasin Dabhelia, Head of Automation, Bidstack

AR and VR will become large parts of the brand’s marketing strategies

Predictions 2022: The Next Wave - Blockchain, Metaverse, and MoreAudiences respond positively to imaginative and interactive digital experiences, making augmented reality (AR) and virtual reality (VR) exciting technologies for marketers to tap into. We’ve already seen brands like IKEA successfully use AR to help customers design their own space, and its application has high potential in other verticals: from virtual real estate tours, to that hotel’ feel. ‘ to get what you can book for your vacation. , or try to find out how lipstick colors and fabrics look before you buy. And while the metaverse is still in its early stages, tools will be available that empower marketers to connect with consumers in these digital spaces. As a result, we should expect to see AR and VR play a bigger role in marketing strategies in 2022.

Nadia Ozeri, Buy-Side Director, Total Media Solutions

Blockchain-enabled games will help gaming become more mainstream

Predictions 2022: The Next Wave - Blockchain, Metaverse, and MoreDespite the huge hype surrounding the concept, the metaverse will remain a series of ideas rather than a stage or major entity that suddenly appears in 2022. In the early stages of development, the most change will be the number and type of organizations. Those interested in the virtual world beyond gaming companies. However, even non-gaming companies will rely on the technologies and engines used in gaming to begin creating the shared protocols needed for a vast array of interconnected worlds.

Brands also have a chance to leapfrog into the metaverse with a view to gaming. Instead of chasing amorphous and esoteric opportunities in the “proof of concept” stage, savvy brands will be able to capitalize on the opportunity presented by learning from gaming, which has encompassed the virtual world of the network for nearly 50 years.

Digital ownership will become more important than ever given the massive virtual platform the Metaverse promises, which has fueled the enthusiasm for the concept of NFTs. In the short term, NFTs have found their most promising utility in blockchain-backed games. It’s unlikely to be so much a nuisance to the traditional gaming industry as a potential supplement. In particular, the rise of these games may resemble the development of mobile casual games rather than cannibalizing existing game players. In addition to legitimizing professionalism in gaming beyond performative components such as streaming or esports, blockchain gaming will expand the tentacles of gaming to include players driven by earnings.

Jonathan Stringfield, VP, Global Business Marketing, Measurement & Insights, Activision Blizzard

In 2022 the Industry Will Start Taking Collective Responsibility to Police the Metaverse

Predictions 2022: The Next Wave - Blockchain, Metaverse, and MoreThe early days of Web 2.0 were an uncontrollable wild west. Even now, we are still dealing with its fallout, and it is becoming increasingly difficult to regulate communities and platforms. This has led to issues of security as well as abuse of the power of anonymity for both users and brands.

The building blocks of the Metaverse appear to be the primary to follow this erratic path, with sexual harassment first reported last month, along with several other concerns about safety. It’s no surprise that brands feel cautious entering the space with many teething issues.

However, we expect a change in collective responsibility in the online space next year. Learning from past mistakes, organizations such as the Oasis Consortium (a panel of tech leaders outlining the ethical practices of the metaverse) are being created to help them add some shape to this uncharted territory, namely, the real world in space. Protecting brands by enforcing ethics. ,

Simultaneously, the backbone of the digital world – community managers – continues to adapt to its climate. The early pioneers of this area are moving towards communal places as a form of community embodiment. However, instead of being an anonymous customer service agent, they act as a real-world contact point for you to direct questions and flag concerns.

The development of such security protocols will see more and more brands jump into the Metaverse, creating a huge push for Metaverse managers globally.

Olivia Wedderburn, Director of Social and Influence, TMW Unlimited

Brands will drive audience engagement by building immersive digital experiences

Evan MarkmanThe metaverse speaks to a big trend: We are seeing a demand for human connections among consumers through immersive and personalized experiences. In a more digitized world where users rely on their online presence for much of their work, play and life, re-imagining how we come together and interact virtually is becoming a new importance and urgency. has gone.

As an industry, we have only scratched the surface of a fully interactive, breathtaking digital world that can evolve in real time. In 2022, brands will be able to significantly enhance immersive experiences in the digital world with 5G and next-gen technologies. It will dramatically change how brands engage with consumers and open up new dimensions for storytelling. Marketers will be able to deliver fully interactive experiences that are not only imaginative, but also fun for buyers, or a rapidly growing community of gamers – through in-game shows, concerts, parties and non-digital Think of the interactive gaming world with ownership. – Fungable tokens for everything from cool gear to the venue!

Augmented Reality (AR) has already rapidly gained ground for its wide appeal and practical benefits – notably ‘try-on’ and contactless engagement. Yahoo research finds that 46% of shoppers are interested in AR content, with 80% saying they want a 360-degree view of products before buying. As practical applications for more digital technologies become mainstream, brands will have a much larger canvas to effectively engage their target audiences and potentially transition into an ever-changing metaverse.

Evan Markman, Chief Business Officer, Yahoo

will be the place to gain an understanding of the gaming metaverse

Predictions 2022: The Next Wave - Blockchain, Metaverse, and MoreIf 2021 was the year everyone started accepting that the metaverse is coming, then 2022 will be the year we start getting companies to seriously think about what this space means to them and how they can prepare for it .

While we’ve heard (and in some cases seen) how many of the world’s major technology companies are planning to build their corners, it’s within gaming where we’ve seen the most progress. Roblox and Fortnite have already grown into a comprehensive platform where players not only play, but also hang out, create, learn and even establish their careers.

Games focused on NFT technology such as Axi Infinity and Sandbox are helping to demonstrate what is possible when players have a financial stake in a virtual environment. Niantic’s AR titles, including Pokémon Go, Pikmin Bloom, and Ingress, have helped us understand what the effects of blurring the lines between the real and the virtual can be. The popularity of VR games continues to grow, and we can expect to hear more on it throughout 2022 due to PlayStation’s recent announcement at CES.

If advertisers want to get off to a head start and understand where they fit into the metaverse, gaming is a great start.

Neil Pummel, Director of Sales UK,

More brands will rush to capitalize on the metaverse opportunity

Rice WilliamsWriting articles on the future of media and technology is never easy. Remember WAP, Sky Open, Google Glass or Smart Fridge? All were billed as the next “big wave”, while little more than a single wave was created. Even BlackBerry has been discontinued, and things aren’t looking great for Alexa either.

In the Williams household, Alexa use rarely extends beyond music, weather and bad jokes – a reflection of the market more broadly it seems, with new skill launches for Alexa in the UK in 2020 vs 2019 (Voxalyze) has declined by 66%. Surely in 2022, Amazon and Google will have to put on data, technology, and usability to reverse this trend for voice activation.

On the other hand, the Metaverse shows no signs of slowing down—from Roblox and Meta to Microsoft Teams, people are spending more time playing, working or socializing together than ever before in virtual environments. Huh.

To date, advertising budgets have failed to reflect changes in audience behavior. 2022 however, will be the year to change all that – as more brands wake up to prospects and race to secure prime real estate in the metaverse environment, make better use of NFTs and increase advertising budgets.

Rhys Williams, Tech and Activation Lead, the7stars

Nation World News Desk
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