Metaverse – the new marketing universe

Svend Hollensen*, Philip Kotler, Marc Oliver Opresnik

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

165 Scopus citations

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.

Original languageEnglish (US)
Pages (from-to)119-125
Number of pages7
JournalJournal of Business Strategy
Volume44
Issue number3
DOIs
StatePublished - Apr 14 2023

Keywords

  • Avatar
  • Marketing
  • Nike
  • Social media marketing
  • Virtual reality

ASJC Scopus subject areas

  • Management Information Systems
  • Strategy and Management

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