Metaverse – the new marketing universe

Abstract

Purpose

This study aims to present and explain the concept of Metaverse, which will revolutionize nearly every industry and can be regarded as the 3D version of the internet. Especially, the paper explores the “building blocks” of the Metaverse and how it is functioning in a case study.

Design/methodology/approach

The Metaverse concept is explained by the Nike–Roblox case study, where the authors explore the customer benefits, that are provided by the Nikeland project.

Findings

The Nike–Roblox case study is showing that virtual platforms, content services, consumer and business behavior are the most important and visible “building blocks” to the Nikeland visitors (customers) in the Nike–Roblox alliance. The Metaverse is gaining popularity among the big global brands. It is expected that the big breakthrough for Metaverse will happen when the next layer of brands, the regional and local brands, will start penetrating the Metaverse.

Originality/value

Metaverse will be the new future marketing platform for presenting and giving life to all kinds of brands in the 3D interactive digital space. Metaverse is a digital copy of how we are working in the physical world. In this 3D digital space, the users can come together via avatars that resemble them. This will have an enormous effect on how companies will use the marketing function and how we will communicate with each other in future.

Citation

Hollensen, S., Kotler, P. and Opresnik, M.O. (2023), "Metaverse – the new marketing universe", Journal of Business Strategy, Vol. 44 No. 3, pp. 119-125. https://doi.org/10.1108/JBS-01-2022-0014