Loyalty in the Metaverse. Some Food for Thought.

The Metaverse is the next step for web3 and computer technology, as venture capitalist, Matthew Ball stated, “It’s moving into what people call ambient computing,” he said about the metaverse. “It’s about being within the computer rather than accessing the computer.”

Many projects are starting to create the fundamental building blocks of the Metaverse by creating these various NFTs that will be eventually used in their own Metaverse. Creating an NFT is now the first step into building a future in the Metaverse, after all the NFT will be the first thing that will be integrated and used in the Metaverse. Whether it be shoes, clothes, watches, cars, avatars, or even pet dinosaurs, these will all have their role and function in the Metaverse.

This virtual world that we call the Metaverse aims to combine the immersive nature of virtual reality and the connectivity of our online social platforms to create a digital place in which people can interact within, and even spend money!

The grand idea is to eventually create a digital replica of the world that features a virtual economy, social identity (albeit digital), the opportunity for businesses to establish themselves and grow, the opportunity to implement real-life services that are delivered in the metaverse, and much much more.

When we talk about the Metaverse there are 2 pathways that are the most popular currently. The first of which is the many brands that are attempting to develop their own Metaverse using gamification and loyalty features but not necessarily utilizing web3 or the blockchain. This means that the experience is centralized to that brand and their specific Metaverse, whilst the main Metaverse we are talking about, is the decentralized Metaverse that is created on the blockchain. This Metaverse can be accessed by any project on that chain and assets can be integrated easily without much resistance.

In the Metaverse the assets are owned by whichever entity purchased it just like with a T-shirt or a watch in real life, if you bought it, it’s yours and no one can take it away. NFTs are perfect for this purpose as they are all unique with their own distinct serial code to distinguish between 1 item and the other.

Sandbox – Snoop Dogg’s Metaverse Experience

Creating one of the first-ever Ethereum based Metaverses that even features plots of land occupied by various brands and celebrities. Including the famous rapper, Snoop Dogg, who has his very own mansion and section within the Sandbox Metaverse. Loyal fans can obtain a ‘Snoop Party Pass’ to go visit Snoop Dogg’s mansion for exclusive events, mini-activities with unique rewards, and even to spend time with the rapper himself.

Alibaba x Burberry

The launch of the Double 11 “Metaverse Art Exhibition” is the first of things to come from Alibaba’s endeavors in the Metaverse. In this exhibition, users are treated to 8 unique NFTs from brands such as Burberry and Kiehl’s. Upon purchasing 1 of these unique NFTs in the Metaverse the user is rewarded, for instance upon buying an NFT from Burberry (wearable in the Metaverse) they receive an exclusive Burberry Scarf that is only obtainable to people holding their NFT.

Key Takeaways (TL:DR)

• The Metaverse has been a hot topic most recently with a lot of brands creating different virtual experiences that act as proto-Metaverses. Other brands took a step further and fully shifted their focus onto the Metaverse, such as Facebook now known as Meta. Now the question is, how can we use loyalty within the Metaverse, what are brands are doing?

• With all these brands jumping on the Metaverse trend, it’s important to understand what exactly these brands are doing and in what way. Brands like Marriott, Alibaba, and Louis Vuitton all took a step towards establishing their Metaverses by either creating the virtual experience or the keys that unlock the doors to their Metaverse. As in the case with Marriott releasing 3 unique digital art pieces as NFTs that also act as access passes.