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Metaverse Grows: Firms Fight for Advertising

Neal Stephenson’s Snow Crash, a techno-dystopian sci-fi novel that has become a legend among Silicon Valley tech companies, in 1992 predicted a future metaverse ascension.

Future Insight

Despite Stephenson’s saying it’s “just bullshit,” Snow Crash ‘s eerily accurate predictions and new world-building have long been respected by tech entrepreneurs and futurists, including Jeff Bezos and Mark Zuckerberg.

As Web3 designers and marketers prepare to advertise in today’s metaverses, Stephenson’s novel looks more realistic than ever before.

E.g; On February 23, mixed reality NFT platform Realm announced a partnership with decentralized advertising company Alkimi. Realm has stated that it plans to use Alkimi’s platform to encourage players to earn from ads by transparently sharing revenue from existing ad formats.

Talking about how to leverage a techno-marketing dystopia like Snow Crash in an announcement, Realm co-founder Matthew Larby said transparency is a top priority:

Metaverse Grows: Firms Fight for Advertising
Metaverse Grows: Firms Fight for Advertising

Advertising is a core part of most current social apps, but existing deals have proved pretty bad for both the data creator and the advertiser struggling to justify their spending.

While Alkimi and Realm are focused on providing a transparent and sustainable advertising environment, other major players are also focusing on the metaverse 

Metaverse Moves

JPMorgan recently declared the metaverse a “$1 trillion opportunity” and also released a report stating that “marketing is potentially one of the largest segments of the meta-economy.”

UK-based in-game advertising firm Bidstack has also announced that it has partnered with multinational media platform Azerion. Bidstack is a firm that specializes in creating “in-game” ads, where companies pay to display their products on billboards in a game like Call of Duty.

However, the metaverse is not designed as a game, but as an alternate world where people will spend increasing amounts of time, which ultimately means that advertising will be the next step for most brands.

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