Allow people to interact with digital objects in the real world.
A true metaverse requires an economy to function within it, just as we have in the real world with individuals able to buy, trade and own assets taking them where they want to go within different environments.
Enabling commerce so that consumers can own and control their own digital lives is paramount, so too is ownership and privacy of identity.
Companies building their own metaverses or looking to operate in one must ensure that privacy controls or safety features are appropriate to these new technologies.
With this interconnected universe, we can expect new challenges and risks and privacy needs to be carefully considered and protected both by users and companies.
Investments into what may be called the metaverse community, including gaming, virtual worlds, and augmented reality is predicted to be a trillion dollar revenue opportunity.
Compared to traditional social media, metaverse platforms can track individuals in a much more intimate manner.
It follows that the metaverse will undoubtedly be a reflection of our physical world, including our digital representations of ourselves = avatars.
Concerns are not just limited to users, there are many examples of how large brands and fashion houses are using the metaverse to expand their marketing efforts as it creates a world of infinite possibilities for brands.
Despite these challenges the metaverse presents an opportunity to be a breakthrough in privacy compliant digital marketing.
Marketers have to be prepared for this cultural revolution and the challenges it could pose.
Long term thinking on the metaverse not only sees its future as equitable and safe, but understands why it’s downright exciting.