Why major celebrities and big-name brands are embracing the metaverse

It seems like every other day, news emerges that a celebrity has dropped a new NFT collection or a commercial chain has launched a metaverse space. While much of this has been written off as a fad, it’s interesting to note the names that are beginning to get involved.

The truth is, engaging fans and customers in the Web3 space comes with multiple practical benefits, and these popular entities are starting to take note. What’s more, this may be just the beginning of a broader change in how people use the world wide web. 

Big names, big moves

The rise of metaverses and Web3 has exploded in pop culture. It seems like just yesterday, Jimmy Fallon was discussing NFTs with Paris Hilton, and mere months later, a wave of other high-profile celebrities and prominent brands have taken steps toward the decentralized web revolution.

For starters, few celebs have jumped into the metaverse harder than Snoop Dogg. Not only was it revealed last year that Snoop was himself a major NFT whale, but the rapper has also launched his own collection of digital assets (known as “The Doggies”) and even recreated his mansion in The Sandbox metaverse.

Other celebrities like Justin Bieber have hosted virtual concerts in the metaverse, and even Prince Harry and Meghan Markle are launching their metaverse platform for hosting everything from business meetings to “public” appearances. 

It doesn’t end with celebrities, either. Major brand-name companies are bringing their businesses into Web3 to engage fans and customers. Recently, Nike launched “Swoosh,” a Web3-enabled platform designed to create new, inclusive digital communities and experiences and serve as a home for Nike virtual creations. Members will be able to collect and create virtual products, such as shoes and jerseys, which can then be traded on an open market.

Other popular clothing companies like Adidas, and even high-fashion labels like Gucci and Prada, are experimenting with metaverse spaces and offering NFT collections of their own. While there are many more examples, it goes to show how powerful influencers across multiple industries are beginning to take note of Web3’s potential. But why?

The reason for the pivot to Web3

This growing interest has to do with what Web3 represents: A new epoch in the internet as we know it, one that allows people to have control of their data and for information to be privately secured by customers and accessible across a wide array of services and experiences. The potential is immense and puts the control back in the hands of the individual. 

This means the celebrities and brands already active in Web3 stand to benefit from a “first-mover advantage” in getting exposure to early adopters. This forward-thinking helps build loyalty and provides a means to bringing authorized, verifiable merchandise, credentials and experiences to customers and fans alike.

At the same time, these early adopters can increase their trust and accountability thanks to blockchain’s transparent and secure promise.

Not a fad; just the beginning

These benefits are already being seen by the most forward-thinking, but the future holds so much more. 

Artists can release exclusive content like private concerts in the metaverse while offering fans more complex forms of interaction. Things like virtual meet and greets, VIP access to exclusive merch and even unlocking tickets to physical performances can all become part of the Web3 experience. 

Brands can continue to push the idea of metaverse shopping centers, allowing anyone to browse physical and digital wares in 3D before making a purchase. This can also massively improve customers’ ability to customize and view their goods in real time. NFT-based loyalty programs can provide bonuses such as discounts and add-ons to customers, giving the businesses deploying them a clear reason for repeat business.

Celebrity Web3 domains like parishilton.nft are essential in helping people enter Web3 and the metaverse, thanks to their utility. These domains aren’t just a form of social signaling and trend following; they can be used as a digital identity that can follow the holder through the metaverse and replace long, complicated wallet addresses with something as simple as Sandy.nft, making it easier to send and receive crypto. 

More than likely, we’ve only seen the tip of the iceberg for how famous people and companies can leverage Web3 for broader engagement. New promotional campaigns can tap into the benefits of NFTs and blockchain, and customers will have more security in their purchases and online interactions than ever before. 

We are already seeing the beginnings of this paradigm shift, and there’s no doubt more global brands and celebrities will make their own contributions to Web3 in the near future. 

Sandy Carter is SVP and channel chief at Unstoppable Domains.