As smartphones were to the internet, the metaverse is to digital advertising. The rapid growth of virtual reality represents a more concrete manifestation of demand for this exciting but still abstract and elusive advertising sphere. The metaverse is a permanent network of 3D virtual worlds that allows for social interaction. It is swiftly gaining traction as a phenomenon changing how we think about technology and the digital world. The metaverse has been envisioned as the future. Thanks to technological advances and ingenuity, the future is far closer than you realize.
Virtual reality will soon be leveraged to sell real goods and create digital economies. Advertising within the metaverse will promote products and services to a much wider audience for free or at a nominal cost. Facebook revealed its plan for the metaverse last year; they will be building digital spaces and even digital worlds. They will be adopting a similar business model as social media. Alex Webb at Bloomberg Quicktake elaborates further on advances in the metaverse.