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Influencer Market
Metaverse is going to be huge for influencer marketing and the creator economy generally. Influencer Marketing is effective where there are people to influence, and fortunately or unfortunately in some way, the entire generations of millennials and gen Z are entering the metaverse. For most brands and companies, marketing becomes more effective when their target audience is concentrated at one place or one space for that matter. With so many users and infinite creative possibilities, the metaverse possesses a huge opportunity for brands. Recently, the biggest brands like Gucci, Nike, Balenciaga, Burberry, Louis Vuitton and apparel brands are entering the Metaverse. Gucci was one of the first to capitalize on NFTs and the metaverse by creating and selling unique digital pieces as NFTs. The fashion industry is undoubtedly being revolutionized by the metaverse, with more brands investing in these platforms, creating NFTs, and even investing in virtual real estate. Decentraland is launching its inaugural Fashion Week, with digital showrooms, boutiques, seminars, and events taking place over the course of four days. Fashion influencers can virtually try on the latest clothes collection with real people and walk down a virtual runway. In addition, the metaverse is a virtual world - a huge freedom to create events and interactions. This experience impacts consumers much more than a social media post. This is a great opportunity for influencer marketing because it gives creators the ability to connect with real people on another level. The limitlessness of the online world is well illustrated by the fact that Travis Scott held a nine-minute concert at Fortnite with his avatar, which was attended by an outstanding 12 million people and generated $20 million [6]. Moreover, Crypto influencers in 2022 are going to play a significant role in marketing metaverses. It is estimated that by 2022, brands will spend as much as $15 million annually on influencer marketing [7], some of which are expected to be spent on virtual influencers.
Finally, metaverses hold promise for the future of technologies and the internet. They also provide lots of room for marketers and advertising to come up with new ideas. However, it will have some challenges that users need to be aware of, if they know how to take advantage of it properly, the metaverse has always been and will be experienced as well as great opportunities and innovative triumphs.
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