Gaming, digital ‘products’, virtual skins for avatars and accessories, immersive ecosystems and other possibilities are all available in digital realities. The metaverse is not just for gamers. One-tenth of all consumers already engage with the metaverse through other means such as using a crypto-wallet, buying virtual products or experimenting with virtual reality and augmented reality. These new ecosystems offer consumers a creative extension – or an escape – from the everyday, experiencing new types of brand value and realities divergent to their own. Fashion shows and concerts are hosted on platforms attended by audiences of millions. Familiar consumer brands produce digital collectibles in art, sport and music. A virtual Gucci bag sold online for over $4,000 on Roblox – fetching a price that exceeds the cost of the physical version of the same bag.
Digital realities are diversified.