Study shows how well marketers understand the Metaverse?

As the metaverse has a tremendous influence on the world, the cryptocurrency and the Non Fungible Tokens (NFTs) continue to take the ownership of the marketing industries as well.

As we all are familiar, metaverse is a vast network and is based on the digital world where people are able to interact with other people in a computer generated environment. It is a virtual place which allows the people to play, work, study and even shop. These virtual spaces are becoming more popular nowadays especially among the young generation. Therefore several companies (to name a few; Vans and Gucci) are gradually shifting towards augmented reality (AR) as well as virtual reality (VR) spaces.

A majority of people don't know much about the metaverse, NFTs and cryptocurrency. But this fact does not alter the determination of young marketers, as according to a study by Unsupervised 60 percent of marketers that were interviewed confessed that they have no prior knowledge about metaverse, but still they are determined to launch their marketing strategies using metaverse, this year. And on the contrary, around 41 percent marketers claimed that they are well aware of how metaverse works. It means that more than one in every ten marketers do not understand the metaverse at all. But still these marketers are striving hard to get used to this computer generated environment, as a matter of fact, it is quite a brave act to use metaverse without having any prior knowledge about these augmented and virtual reality spaces.

The survey revealed that creating NFTs and accepting cryptocurrency is included in the top most recommendations from the marketers associated with the new technology.

In my opinion, as the virtual and augmented reality space continues to escalate, those marketers that do not have sufficient knowledge regarding the augmented and virtual reality will have to face some major difficulties to promote their brand or products. Moreover cryptocurrency and NFTs are not quite reliable as it is a form of digital money and can be hacked. NFTs are even more riskier as compared to cryptocurrency. Other than these factors, the cryptocurrency and NFTs are a huge step leading towards a better innovative future. Take a look at the charts below for more insights.
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