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  • Emily King

Cryptocurrencies & Marketing: What do They Have in Common?

Metaverse Logo

The future of marketing is approaching faster than one might think. A user-generated brand (UGB) or a Web 3.0 community could very well be that future. Read on to find out what they are.

A Marketers Goal

Marketing agencies always try to stay ahead of the curve.

Most brand marketers will be forced to move slowly though as they warm up other employees to the idea of change. Although the idea of more opportunity through divergence is intriguing, they also must be cautious.

The main problem brand marketers face is changing the core behavior of the companies and consumers they connect. They must guide consumers into a new direction and help them defy confusion or distrust during first transactions. For this reason, simplicity and problem-solving are a marketer’s best friend.

New and Improved Fields of Application

1. Payments:

The rise in crypto credit cards, PayPal, and buy now, pay later platforms will cause a material impact on how products/services are engaging customers.

2. Analytics:

Data analytics are vital to the evolution of digital marketing and the way marketers show their potential in a new system.

3. Content Creation:

New projects are showing the potential of a decentralized ledger regarding copyright protections and consumer choice in payment/content consumption as well as storage and distribution.

4. Social Media:

Social medias are leading brand marketers.

5. Loyalty:

Customer relations programs that have difficulty finding a “reward currency” that encourages behavioral changes can expect new solutions to the problem through NFT’s (non-fungible token’s).

6. Gamification:

Brands now can create a game for consumers through marketing strategies that offer incentives.

7. Ingredient Brands:

This presents the possibility of brand sponsored services (such as Visa credit cards).

What is Web 3.0?

The Metaverse, also known as Web 3.0, encourages transparency through smart contracts rather than centralized organizations. In Web 3.0, each person has a private key kept on a blockchain, which is a system for recording data that is nearly impossible to hack or cheat your “wallet.”

1. Store:

Think of this as your home for digital health and legal documents. Your MVH creates a profile based on your interests, preferences, NFT’s and transaction history. You get to choose what is publicly shared, and what is private.

2. Explore:

This is where earn money. The only catch is that you must first agree to being selected for targeted advertisements and interact with them. These ads are selected for you based on the information that you chose to share from you MVH. This will continue to happen until you make a point to deactivate this allowance. Consumers are also given the option to be surprised by the ads they see which helps advertisers better analyze their AI’s (artificial intelligence’s).

3. Procure:

Whether your digital coin is coming from your country or another, your MVH will automatically decentralize and convert the amounts. For example, if you’d like to buy something from Morocco while in Canada, the MVH automatically changes the Canadian dollar to the dirham’s used in Morocco. The same procedure as described above allows users to select what shopping transactions can be seen by the public and used by advertisers.

The world of marketing is changing rapidly. With new methods and new platforms to choose from every day, it’s easy to feel like you’ve fallen behind on what’s happening. Stay up to date with all things marketing-in-the-Metaverse related as often as you can.

Let us know what you think the future holds below!

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