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Co-Verse Marks the Age of Shared Brand and Consumer Assets

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Serviceplan Group Middle East head of strategy, Frances Bonifacio, on 2022 Trends including the Metaverse and NFTs

Co-Verse Marks the Age of Shared Brand and Consumer Assets

In the still fuzzy reality of the metaverse -  a confluence of many constructs like social, gaming, and crypto - there’s an opportunity for brands and consumers not only to co-create but to co-own content, tokens, and assets. The strategic core of Serviceplan Group Middle East, Frances Valerie Bonifacio, summarises the agency-wide point of view in three trends for 2022. 


1. Co-Creation is the New Connection

We’d love to call the current state of the metaverse a co-verse. No, it’s not a covert operation to sabotage the biggest buzzword trolling the halls of industries these days. On the contrary, it’s recognition that the metaverse has become an open space where co-creation is perhaps the only “tangible” means for brands to connect with an audience living for the thrill of thriving as mere “embodied presence” on the Internet.

With Roblox, brands like Gucci have started selling virtual branded products, essentially inspiring a whole new generation of avatars in luxurious garbs. And while Nike has created a Roblox virtual world called Nikeland, brands embracing the co-verse can choose to push the boundaries farther, not for their own sake, but for the contentment of its virtually-insatiable consumers. Instead of simply rendering actual physical products as virtual replicas on the metaverse, allow consumers to develop, design, and patent their branded virtual creations. Give them free reign and see how far consumers’ imaginations can shape or re-shape your brands own product development and design possibilities.


2. Non-fungible has Become Tangible

The digital collectible space has finally invaded brands. Yep, with the advent of NFTs, or your so-called non-fungible tokens, the words digital and collectible can now co-exist in the same space. That’s because non-fungible tokens are digital assets that can go beyond bitcoin to include any real-world object like a drawing, artwork or music that are now primarily rendered in AI. They’re non-fungible because they’re unique and irreplaceable, and much like trading cards, these are one-of-a kind virtual cards that if traded with another card, you’d own something completely different.

Budweiser has been on this space since late 2021. This January 21st, 2022, it aims to take this momentum into a purposeful cause as it seeks to support emerging musicians with an impressive drop of 11,000 NFTs based on 22 artists featuring 500 NFTs apiece. Sometime this year, BMW in the Middle East will seek to immortalise the iconic sound of an M engine, among others, as it takes its Museum of Sounds to the NFT arena. Museum of Sounds is BMW’s ambitious effort to preserve the melodious roars of its petrol engines before e-vehicles can render them forever obsolete. Soon, petrol heads can own a piece of their BMW icon in non-fungible terms as a tangible nostalgic memento.


3. Gamification Isn’t Dead in the Age of Gaming

Gaming, over and above social and AI, is currently touted as the next big leap for brands wanting to jump into the proverbial virtual bandwagon. More and more brands are looking at e-sports sponsorships, game development opportunities, in-game presence, and even gamers as new-age influencers as revolutionary means to enter the growing world of gaming. Well, these brands are in for what we’d like to call a gentle wake-up call.

Gaming, in all its glory, can be broken down into its simplest form to serve the best possible entry-point for most brands seeking to test the waters. Especially for brands not as endemic to gaming as tech brands are, gamification – used and overused as it is, and even rendered old-school in this day and age, can still be a tool for potent co-creation. Think customisation, for instance. For retail brands already running solid e-commerce platforms, giving customers the possibility to create shopping avatars over mere buyer profiles can spawn gaming possibilities. If developing on-site gamification is a far stretch, think cooperation with gaming developers where crossovers can happen between shopping avatars and gaming avatars.

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Serviceplan Middle East, Tue, 08 Feb 2022 13:21:15 GMT