IDEAS home Printed from https://ideas.repec.org/a/zbw/afmpwm/289796.html
   My bibliography  Save this article

Marketing in the Metaverse: Exploring marketing opportunities and potential pitfalls

Author

Listed:
  • Wannow, Stefanie
  • Beck, Chiara

Abstract

Companies from diverse industries, such as gaming, travel, and retail, have started to explore emerging marketing opportunities in the Metaverse. However, there is great uncertainty regarding effective strategies in this new "world". As research is still in its infancy, we aim to contribute to a better understanding of Metaverse marketing and its opportunities and challenges. Interviews with experts from different industries highlight the Metaverse's potential for more personalized and immersive marketing strategies. Community-building, but also innovative Metaverse products, such as NFTs, are seen as particularly promising. However, a prerequisite for successful Metaverse marketing is the creation of a safe environment and sufficient technological expertise.

Suggested Citation

  • Wannow, Stefanie & Beck, Chiara, 2023. "Marketing in the Metaverse: Exploring marketing opportunities and potential pitfalls," PraxisWISSEN Marketing: German Journal of Marketing, AfM – Arbeitsgemeinschaft für Marketing, vol. 8(01/2023), pages 57-76.
    • Handle: RePEc:zbw:afmpwm:289796
    DOI: 10.15459/95451.60
    as

    Download full text from publisher

    File URL: https://www.econstor.eu/bitstream/10419/289796/1/1886278334.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.15459/95451.60?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Duwe, Daniel & Busch, Malte & Weissenberger-Eibl, Marion A., 2022. "Enabling the Metaverse. Whitepaper zu internationalen Nutzerpräferenzen, Geschäftsmodellen und Innovationsprozessen im Metaverse," EconStor Research Reports 263255, ZBW - Leibniz Information Centre for Economics.
    2. Matthieu Nadini & Laura Alessandretti & Flavio Di Giacinto & Mauro Martino & Luca Maria Aiello & Andrea Baronchelli, 2021. "Mapping the NFT revolution: market trends, trade networks and visual features," Papers 2106.00647, arXiv.org, revised Sep 2021.
    3. Chohan, Raeesah & Paschen, Jeannette, 2023. "NFT marketing: How marketers can use nonfungible tokens in their campaigns," Business Horizons, Elsevier, vol. 66(1), pages 43-50.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Vidal-Tomás, David, 2022. "The new crypto niche: NFTs, play-to-earn, and metaverse tokens," Finance Research Letters, Elsevier, vol. 47(PB).
    2. Bernhard K Meister & Henry CW Price, 2022. "NFTs: The Game is Afoot," Papers 2209.09956, arXiv.org.
    3. Raphael Auer & Bernhard Haslhofer & Stefan Kitzler & Pietro Saggese & Friedhelm Victor, 2023. "The Technology of Decentralized Finance (DeFi)," BIS Working Papers 1066, Bank for International Settlements.
    4. Luyao Zhang & Fan Zhang, 2023. "Understand Waiting Time in Transaction Fee Mechanism: An Interdisciplinary Perspective," Papers 2305.02552, arXiv.org.
    5. Laurens Swinkels, 2023. "Empirical evidence on the ownership and liquidity of real estate tokens," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 9(1), pages 1-29, December.
    6. Sarfaraz Ahmed Mohammed & Anca L. Ralescu, 2023. "Future Internet Architectures on an Emerging Scale—A Systematic Review," Future Internet, MDPI, vol. 15(5), pages 1-28, April.
    7. Umar, Zaghum & Gubareva, Mariya & Teplova, Tamara & Tran, Dang K., 2022. "Covid-19 impact on NFTs and major asset classes interrelations: Insights from the wavelet coherence analysis," Finance Research Letters, Elsevier, vol. 47(PB).
    8. Goodell, John W. & Yadav, Miklesh Prasad & Ruan, Junhu & Abedin, Mohammad Zoynul & Malhotra, Nidhi, 2023. "Traditional assets, digital assets and renewable energy: Investigating connectedness during COVID-19 and the Russia-Ukraine war," Finance Research Letters, Elsevier, vol. 58(PA).
    9. Colicev, Anatoli, 2023. "How can non-fungible tokens bring value to brands," International Journal of Research in Marketing, Elsevier, vol. 40(1), pages 30-37.
    10. Hong Bao & David Roubaud, 2021. "Recent Development in Fintech: Non-Fungible Token," FinTech, MDPI, vol. 1(1), pages 1-3, December.
    11. Belk, Russell & Humayun, Mariam & Brouard, Myriam, 2022. "Money, possessions, and ownership in the Metaverse: NFTs, cryptocurrencies, Web3 and Wild Markets," Journal of Business Research, Elsevier, vol. 153(C), pages 198-205.
    12. Niklas Konstantin Klein & Fritz Lattermann & Dirk Schiereck, 2023. "Investment in non-fungible tokens (NFTs): the return of Ethereum secondary market NFT sales," Journal of Asset Management, Palgrave Macmillan, vol. 24(4), pages 241-254, July.
    13. Yousaf, Imran & Yarovaya, Larisa, 2022. "The relationship between trading volume, volatility and returns of Non-Fungible Tokens: evidence from a quantile approach," Finance Research Letters, Elsevier, vol. 50(C).
    14. Chih-Hung Wu & Chien-Yu Liu & Ting-Sheng Weng, 2023. "Critical Factors and Trends in NFT Technology Innovations," Sustainability, MDPI, vol. 15(9), pages 1-25, May.
    15. Ewelina Plachimowicz & Piotr Wójcik, 2022. "What makes Punks worthy? Valuation of Non-Fungible Tokens based on the CryptoPunks collection using the hedonic pricing method," Working Papers 2022-27, Faculty of Economic Sciences, University of Warsaw.
    16. Shrey Jain & Camille Bruckmann & Chase McDougall, 2022. "NFT Appraisal Prediction: Utilizing Search Trends, Public Market Data, Linear Regression and Recurrent Neural Networks," Papers 2204.12932, arXiv.org.
    17. Umar, Zaghum & Polat, Onur & Choi, Sun-Yong & Teplova, Tamara, 2022. "Dynamic connectedness between non-fungible tokens, decentralized finance, and conventional financial assets in a time-frequency framework," Pacific-Basin Finance Journal, Elsevier, vol. 76(C).
    18. Proelss, Juliane & Sévigny, Stéphane & Schweizer, Denis, 2023. "GameFi: The perfect symbiosis of blockchain, tokens, DeFi, and NFTs?," International Review of Financial Analysis, Elsevier, vol. 90(C).
    19. Wolfgang Breuer & Jannis Bischof & Christian Hofmann & Jochen Hundsdoerfer & Hans-Ulrich Küpper & Marko Sarstedt & Philipp Schreck & Tim Weitzel & Peter Witt, 2023. "Recent developments in Business Economics," Journal of Business Economics, Springer, vol. 93(6), pages 989-1013, August.
    20. Mingxuan He, 2023. "Deep Learning for Dynamic NFT Valuation," Papers 2312.05346, arXiv.org.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:zbw:afmpwm:289796. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ZBW - Leibniz Information Centre for Economics (email available below). General contact details of provider: https://arbeitsgemeinschaft.marketing/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.