Mix & Mingle
Before our Metaverse Marketing panel discussion got underway, we start our luncheon with a 30 minute mixer allowing all of our guests to get to know one another and network with other Vegas marketing professionals.
Metaverse Marketing – what is it and how do we use it?
In the beginning of the discussion – the biggest hurdle facing marketers in regards to Metaverse Marketing is going to be how to adapt current market into this new environment. We are transitioning from a 2D, flat, scroll and click through interface into a 3D, interactive and evolving web world, now referred to as Web three point oh. #web3.0
AMA Luncheon: Metaverse Marketing – The Roadmap to Web 3.0
August 4 @ 11:30 am – 1:00 pm
Special Guest: UNLV Lee Business School MBA Programs
Always good to see my Alma Mater represented in my professional world
This was our first experience hosting our AMA Luncheon at Fogo de Chão, and boy did they impress. The food was fantastic, the service was on point, and the tech available complemented our luncheon perfectly.
Moderator: Jamie Collyer (aka/Metaverse Maven), CEO of House of Collyer & Metaverse Strategy Consultant https://www.instagram.com/jamiercollyer
James Rupe, Blockchain Node Operator & Educator, Cardano Network
Jamie Schwartz, Director of Industry Engagement, UNLV Black Fire Institute
Teddy Campos, Technology, Creative & Crypto Rockstar, Sofa King Creative (https://www.skc.agency/about)
Plural of Metaverse:
No – Metaversi
Question: How would you recommend a small business to use basic level tools in adapting to web 3.0?
Answer: Geo-located ad placement is going to be the low hanging fruit for basic level tools for small business. In new video games and metaversi, dropping your business/product strategically within this new world will be fundamental, especially here in the infancy stages of this quickly growing community. (Jamie Schwartz)
For example, Chipotle has dropped a store location in metaversi where they have brick and mortar locations. These digital storefronts accept crypto currency in exchange for menu items. The store irl (in real life) receives the order from the player within the game/metaversi, and quickly jumps into action as if their Postmates Tablet just went off. The burrito (or other menu item) is whisked off by a delivery driver to the address on file for the player, and Chipotle just added another revenue stream for its business model. (James Rupe)
To be clear, this specific example only works for brick and mortar locations where digital communities (a metaverse) surround them.
Does Security = Safety in Metaverse Marketing?
Question: We are discussing store fronts in video games, which can be inferred that we are targeting a younger and younger audience. How is this safer?
Answer: The Metaverse will allow for a more layered experience. That is what is currently lacking from Web 2.0. There is no identity verifying component. Web 3.0 will allow children a safe environment to experience while allowing adults free reign to interface with banking institutions, reward programs, etc. (James Rupe)
Question: How would you recommend getting the name of a small business or the word out about your product?
Answer: There is no “peripheral vision” in the Metaverse. What that means, is the user needs to be directed to your product to interact with it and ultimately complete a transaction. NFTs are what enable this direction. To win NFT space, it is imperative to connect with these communities in that space, i.e.: the metaversi that are most strategic and in alignment with the brand/product. (Teddy Campos)
The most amazing part about this is that it sounds complex and out of reach, and really, you can accomplish these tasks using your current phone and/or web browser.
Ideally, marketers are going to want to create drop points in different metaversi, which means 2-3 top Metaversi for the NFT style. (Teddy Campos)
One example of this capability is that Starbucks just announced that they are going to use NFTs in their loyalty program (Jamie Schwartz) see snippet below.
Starbucks will unveil its web3 initiative, which includes coffee-themed NFTs, at next month’s Investor Day event. The company earlier this year announced its plans to enter the web3 space, noting its NFTs wouldn’t just serve as digital collectibles, but would provide their owners with access to exclusive content and other perks.
At the time, Starbucks was light on details as to what its debut set of NFTs would look like, specific features they’d provide or even what blockchain it was building on. It said the plan was likely to be multichain or chain-agnostic, hinting at plans that weren’t yet finalized.
Overall, the coffee retailer kept its web3 news fairly high level, explaining simply that it believed digital collectibles could create an accretive business adjust to its stores and that more would be revealed later in 2022. (Source: TechCrunch.com)
Come to an NFT event if you’re unfamiliar !
Bottom line, you [marketers & business owners] are going to need to learn and educate yourselves in this world. (Teddy Campos)
NFT: Semi Tangible Item; non-fungible token
Metaverse: A place that you go
Side Note: If you do not currently have a digital wallet, you need to get one sooner than later.
Question: What creates the Financial & Security Benefits within Blockchain technology?
Answer: The blockchain technology allows for transparent and public transactions, which allow for a cheaper, safer and more secure component to loyalty programs. (James Rupe)
Plan to attend an upcoming event in Vegas. Tech Alley also has a presence in Reno and Denver.
Anyone can do it, just immerse yourself.
Question: Are we transitioning quickly?
Answer: Yes, exceptionally fast. (Teddy Campos)
Question: How is the common public going to get involved with the metaverse initially?
Answer: Most people are going to be introduced to a Metaverse through a Big or Small business that they frequent. (Jamie Schwartz)
People are going to be required to adapt by use of the digital wallet or rewards program (Teddy Campos)
Value is going to emerge in communities that never existed before (James Rupe)
Question: What is the take on Art as an NFT?
Answer: NFTs on art, whether that is a digital image, song, video, etc, it empowers the artist, allowing them the freedom and autonomy without a label or publisher. There will not be any lost revenue for the artist moving forward. All transactions will tie back to that original artist and the owner of the NFT. The concept protects artists, i.e.: never in the metaverse could a Picasso be sold at a yard sale and Picasso’s family not receive a monetary reward. The transaction will always be tied to the blockchain (Jamie Schwartz)
Crypto Currency & Web Development in Metaverse Marketing
Question: How do you secure websites for this evolving need for crypto exchange?
Answer: The mechanisms within the chain will determine the rate of exchange both in value and in time. For example, each blockchain is different and designed for different types of transactions. Whether the blockchain technology is designed for passive income, NFTs – the technological constructs of the chain will determine its primary use. (James Rupe)
Crypto security is completely separate and priority number 1 in web development. When you are adding crypto exchange on your website, start with security first. If you allow any room for error, you will lose all credibility in this evolving marketplace and will lose footing that could be detrimental to your business plan. Security has been able to be “kept up” in years past, and can be a second or third thought in web development. If you are incorporating crypto exchange, we cannot stress enough that it needs to be priority #1. (Teddy Campos)
Everything can be hacked these days – with the exception of blockchain technology.
Everything can be hacked these days – with the exception of blockchain technology. As Teddy stated, web developers need to have new basic strategies to employ at start with security protocol. (James Rupe)
A really neat feature at UNLV is there is a Small Business course on Cyber Security (Jamie Schwartz) – Contact her for more info!
Question: How does cannabis play into web 3.0 and the metaverse?
Answer: The biggest challenge for cannabis currently is the ability to identify identity. More to come as the technology evolves in this adapting world.
Closing remarks on Metaverse Marketing from
Jason Soto, President AMA
Do you remember when the first person asked you if you had heard of Facebook?
You probably said that you hadn’t heard of it yet. Then you went on facebook dot com, and poked around.
Then you became an expert, we put businesses on Facebook. We made serious money on Facebook.
This is happening again, and the Metaverse is the new thing – now is the time to get on and poke around, become an expert.