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Marketing in the Metaverse: Exploring marketing opportunities and potential pitfalls

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  • 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
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    References listed on IDEAS

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    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)

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