Inspiration Station: How Web3 Offers Brands Unique Opportunities

JPMorgan sees the metaverse as a $1 trillion market opportunity.

JPMorgan became the first bank to enter the metaverse by opening the Onyx Lounge in the Decentraland metaverse. Other brands like Samsung opened a version of its New York store in Decentraland. Decentraland is a browser-based 3D virtual world in which users can buy plots of land in the form of NFTs and interact and transact with other users through 3D avatars.

Upon entry, lounge visitors are greeted by a dynamic roaming tiger, a floating portrait of the bank’s CEO, Jamie Dimon, and a spiral staircase.

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Social VR offers an immersive platform for people to interact, form relationships, and build intimate connections with brands.

People typically use three leading platforms for social VR – AltSpaceVR, VRChat, and Rec Room. Other platforms are emerging, like Meta Horizon and Roblox. Each platform is tailored to a specific audience; for instance, professionals regularly use AltspaceVR, while VRChat is more playful, and Rec Room is more of a game-based platform.

Social VR is a supportive environment, unlike traditional gaming platforms, which are notorious for their toxic culture. Players in social VR communities tend to be happy to offer help and support, using social VR to find friends and build online communities that align with their identities
and interests.

What are the implications for brands?

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TV show you can only watch if you own their NFT non-commercial rights to do whatever.

Stoner Cats is a TV show pioneering how digital communities can access content in the new era of Web3. Stoner Cats, led by Mila Kunis, releases its episodes in a new, ground-breaking format. The only way to watch Stoner Cats is if you own a Stoner Cats NFT Token. If you own the collectible NFT, you gain membership that gives you admission to the show, plus access to exclusive and fun perks.

With blockchain technology, there’s a new way for fans to engage directly with the content they want to watch and be a part of the content creation process, including behind-the-scenes access, storyboarding sessions with the creators, and voting on story elements for emerging episodes. As an NFT holder, you have personal, non-commercial rights to do whatever you want with your specific 2D non-animated Stoner Cat NFT image.

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The world’s first interactive dating show where the community decides what happens.

Mad Realities is reimagining entertainment for the modern world – building the “Netflix of Web3” with help from an investor, Paris Hilton. Their shows focus on shared experience, co-creation, and ownership. A membership pass is your key to the first decentralized entertainment platform, starting with the world’s first interactive Web3 dating show, Proof of Love, or “The Blockchain Bachelorette.”

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As virtual worlds gain momentum, brands are exploring how to present themselves online. Virtual influencers are becoming more commonplace with global followings. Virtual influencers experience on average 3x engagement from fans than your typical influencer.

What are virtual influencers?

A virtual influencer is a digital character created in computer graphics software, given a personality defined by a first-person view of the world and made accessible on media platforms.

How are brands using virtual influencers?

SAMSUNG’S CAMPAIGN & MIQUELA ARE LINKED TO THE FUTURE
As digital humans, their existence is a technological innovation in itself. In Samsung’s #TeamGalaxy campaign, Miquela was featured alongside Millie Bobby Brown, Steve Aoki, and gamer Ninja. Under the slogan #DoWhatYouCant, Samsung linked into Miquela’s infinite potential.

LG CREATED THEIR OWN VIRTUAL INFLUENCER
LG introduced its own virtual influencer, Reah Keem. She is a traveler and DJ with an upcoming album. LG’s choice not to use her as an advertising opportunity from the get-go allows her to gain credibility and establish authenticity.

HYUNDAI APPEALS TO YOUNGER AUDIENCES WITH SHUDU
Hyundai partnered with a digital supermodel, Shudu, to launch their eco-friendly fashion platform Re:Style. Shudu was decked out in the collection, which uses recycled materials from Hyundai’s manufacturing process.

How are brands offsetting their emissions?

Ethereum formerly used an energy-intensive process called “proof-of-work” to power its cryptocurrency transactions. Through a new method, dubbed “proof-of-stake,” the computational energy needed to solve the math problem behind each transaction is no longer an issue. The switch from proof of work to proof of stake will reduce the overall energy consumption of Ethereum by 99.9% or more.

The fossil fuel company Shell may not be the first brand one thinks of when considering sustainability, but they’re using the advent of Web3 as an opportunity to get more green. In their attempt to achieve net zero carbon emissions by 2050, Shell is utilizing AI, blockchain, and the whole of Web3 itself. They have created a blockchain system that tracks how green energy is used. Efficiency is literally judged through the application of blockchain – the cornerstone of Web3.

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