The metaverse has officially arrived… bringing with it a world of unique opportunity.
One such opportunity is influencer marketing in the metaverse.
Unlike social media influencer marketing, the metaverse is brand new.
There is therefore less competition and you might just have a chance of making waves.
Influencer marketing in the metaverse is similar to more traditional social media marketing. Influencers will market products and services by hosting events, concerts, and using the products while on the metaverse. The metaverse allows influencers to interact with their fans more realistically than via social media apps.
There are many ways to make money in the metaverse. If this sounds like the one for you, keep reading! Alternatively, check out the best metaverse stocks and projects.
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Influencer Marketing In The Metaverse
Influencers have given themselves a bad name over the past year or so.
Sitting on a beach Doing essential work in Dubai whilst the rest of us were in covid lockdown wasn’t as charming as they’d hoped.
Nonetheless, becoming an “influencer” has become one of the most common job aspirations of today’s youth.
Consequently… it’s an extremely saturated job market.
Influencer marketing in the Metaverse is still relatively unknown.
This could provide an opportunity for you to rise through the ranks before saturation hits.
But what do influencers do in the Metaverse?
1. What Do Influencers Do In The Metaverse?
Influencers do many things on the Metaverse.
There’s a huge overlap with the social media influencing world.
This means videos, pictures, product reviews, lives etc…
However, as the Metaverse is still in it’s infancy, influencers are still finding their feet.
This opens the doors for innovation.
Many Metaverse influencers hold events where they can interact with their fans. This allows “gifts” to be paid by fans and for influencers to advertise their brand deals.
While it may seem like an odd concept, virtual spaces like the metaverse are taking off. The avenues for making money via influencer marketing in the metaverse will continue to grow. Watch this space!
2. Examples Of Influencers Making Money In The Metaverse
Although few influencers have joined the metaverse, several have already made vast sums of money.
It’s estimate that influencer marketing in the metaverse will soon be a $1 trillion industry.
The majority of this stack of cash will flood in through advertisements, events, and e-commerce.
Already, some celebs are reaping the benefits:
- Jake Paul
- Paris Hilton
- Snoop Dogg
- Shawn Mendes
- Lady Gaga
- Travis Scott
Obviously, the above already had large platforms before launching themselves on the metaverse.
But the ways in which they’ve made money are equally applicable for you… you just need to build a following first. This is the case for all types of influencer marketing.
Jake Paul principally makes money in the metaverse through investments.
Paris Hilton makes money in the Metaverse when people visit “Paris World” virtually.
Paris World is a virtual world within Roblox’s metaverse.
When people visit Paris World, they pay Robux to jet ski around the island, stroll the boardwalk, and visit a replica of Paris Hilton’s Beverly Hills estate.
Snoop Dogg has held groundbreaking concerts within the metaverse.
He also has built a replica of his mansion within The Sandbox, with concerts located within this replica.
He is currently building Snoopverse.
Within Snoopverse, he will hold private parties and Q&A’s. Tickets to these parties and Q&A’s will cost around $6,000 per ticket!
Blackpink, a South Korean female pop group, makes money though the metaverse and regularly meets with fans on the platform.
They have yet to hold a concert on the metaverse, but based on the success they have seen on the platform, it is likely that they will hold one in the near future!
Shawn Mendes is currently making digital clothing through Genie, which is an avatar tech company.
He will sell the digital clothing, but not much is known about how much the clothing and accessories will cost.
Lady Gaga released a music pack for a game (Beat Saber) within the metaverse.
How much Lady Gaga has made from this game within the metaverse is unknown.
However, she is not the only artist or band that has allowed their music to be used in Beat Saber.
Travis Scott made an eye-watering $20 million when he held a virtual concert within the metaverse.
Even more shocking?
The concert was only 9 minutes long!
To be fair, a whopping 12 million people attended the virtual event.
AleXa, a K-pop star, held a virtual fan party within the metaverse.
This was hugely successful and paved the way for other artists to launch their own fan parties. Ka-ching!
3. How To Get Started With Metaverse Influencer Marketing
Before you can make money within the metaverse as an influencer, you have to build a following!
This is the hardest part.
Make sure you’re extremely active in the Metaverse and Metaverse groups. Join the right discords. Speak to the right people.
You can alternatively build a following via social media marketing, before transitioning into the Metaverse.
Next it’s time to:
- Create your own world
- Hold meet-and-greets
- Place advertisements
- Design spaces for other creators
Reach out to companies that already use Metaverse marketing. They are more likely to sponsor you to advertise their products. Converting new companies to the Metaverse is not an easy task!
Create virtual billboards and advertise your products or companies that sponsor you.
Exactly how you create billboards varies depending on the metaverse program, but you can easily ask the maker of the software how to create a billboard.
Once you’r ready, remember to announce your Metaverse ventures to your loyal following!
Tell them all of the details and include the necessary links so they can join the event or purchase tickets.
You can even put the information in the biography of your existing social media, to help get the word out to your established audience.
Be warned: You will be met with scepticism! Any new technology suffers this fate initially.
4. Where To Find Sponsorship Deals
Influencer marketing in the Metaverse revolves around sponsorships.
A large chunk of your income will come from brands and companies.
To find sponsorship deals, find companies that use the metaverse already.
Fair enough, there aren’t huge numbers, however several large companies currently are.
When you join the metaverse, contact them and see if they are willing to sponsor you in any way within the metaverse (or on other social media platforms).
The following companies already use the Metaverse:
- Stella Artois
- Artist Alley at NYCC x MCM Metaverse
- Cosplay Central Virtual Competition
- Dolce and Gabbana
How much money you can make from sponsorships varies by company, what you do, how large your following on social media is, and how much you do for the company.
However, right now there are a limited number of sponsorships.
But don’t worry!
As more influencers, companies, and users join the metaverse, more sponsorship opportunities will be available.
You may even be able to bring current sponsorships to the metaverse and charge more for your services.
Talk to your manager and have them contact various companies to find metaverse sponsorships. It’s always worth a shot.
5. What To Expect From Marketing Jobs and Gigs In The Metaverse
Be open and creative.
If you’re familiar with social media marketing, think of the metaverse as an extremely large Facebook or Instagram live event or as a large social media platform.
You don’t even have to post anything after you have created your world to make money from the metaverse.
In the metaverse, virtual showrooms, fashion shows, events, and concerts will be held.
These take a bit of setting up, but then can feasibly provide passive income.
Additionally, virtual billboards will often be shown, and ads will likely be played behind an artist as they perform a concert.
Various texts and images can be shown to people who are interested. You can create content that features a certain brand (or your own brand) of clothing or other items.
Within the metaverse, people can test products and try on clothing virtually. This means that people won’t have to purchase the product before trying it on.
The more people join the metaverse, the more companies will join… and the more willing they will be to hold gigs and hire influencers to sponsor their products within the metaverse.
6. How Businesses Advertise On The Metaverse
Businesses advertise their products within the metaverse in a variety of ways.
- Virtual billboards
- Hold events
- Selling items with utility in the real world
- Influencer Marketing
- Video ads
- Interacting with metaverse users directly to promote products and services
Companies like Gucci have already had such a large amount of success in the metaverse.
People often don’t use Gucci products because they are expensive.
You might also be concerned they would be stolen or damaged.
Fortunately in the virtual world, Gucci items can’t easily be stolen and won’t break over time. Those who avoided them in the past are now buying virtual Gucci items.
The success of companies like Gucci is attracting more companies to Metaverse Marketing.
But there are still some barriers to entry.
What’s Stopping More Businesses From Metaverse Marketing?
Fear of new technology has always delayed progress.
Companies are watching in anticipation to see whether influencer marketing on the metaverse really works.
It is admittedly hard to navigate the metaverse as a company trying to make money.
It has literally never been done before.
People, influencers, and companies are still trying to figure out how to use metaverse marketing.
The metaverse is still being developed, tested, and secured.
This is both a drawback and a bonus!
7. What Are The Risks Of Influencer Marketing In The Metaverse?
The risks are minimal.
The main one is time investment.
If the Metaverse doesn’t take off in a major way, then the effort you’ve put into growing a following may be in vain.
Being early in any technological advancement comes with this risk.
On the other hand, if the Metaverse explodes and you’ve already built a platform, the payoffs could be huge.
Those early to Youtube and Instagram enjoyed meteoric careers once the platforms grew in popularity.
Thus completes a very brief overview of influencer marketing in the metaverse.
If you’re still looking to make money from the metaverse I highly recommend continuing your education before getting started.
Knowledge is power.
Become an expert in the field.
Gain an edge over your competitors.
Alternatively, there are plenty of other ways to make money online.
What do you think about the Metaverse?
Passing craze or groundbreaking technology?