Why You Still Need A Metaverse Strategy

Why You Still Need A Metaverse Strategy

Share to Linkedin PARIS, FRANCE - JUNE 04: Natalia Verza @mascarada. paris wears a green khaki mesh jumpsuit from Fendi ... [+] with embroidered logo / monograms, and is playing with a VR / Virtual Reality Oculus Quest headset with a printed Chanel logo, and equipped with 2 controllers, on June 04, 2021 in Paris, France. (Photo by Edward Berthelot/Getty Images) Today's headlines might lull luxury brand stewards into thinking that Web 3. 0 was over before it even got started. Meta (META: Nasdaq) the company formerly known as Facebook and the single biggest proponent of wider Metaverse adoption, has laid off thousands of employees. The price of cryptocurrencies drops daily, and NFTs that were all the rage just a year ago are crashing to new lows. However, despite these somewhat dire economic indicators, it would be foolish for luxury marketers to believe that the Metaverse is simply a passing fad. The Metaverse is coming, and it will be Millennial and Gen Z consumers who indelibly alter the luxury shopping landscape by forming deeper connections to brands through their interactions in the Metaverse. The Metaverse is a playground critical to capturing the loyalty of younger consumers who, in turn, offer