MAM
GUEST COLUMN: How will metaverse redefine the advertising industry?
Mumbai: The recent advent of the metaverse—a continuous and virtual 3D world where users may interact with one another, hold meetings, and even shop for items—has been a popular topic of discussion in recent months. The opportunity for advertisers to target metaverse users with branded material and other sales strategies is evident.
When it comes to advertising in the metaverse, immersion will be the key selling point. This implies that marketers will not only be able to provide better, broader, and more sophisticated branded experiences, but they will also be able to do it without appearing intrusive because customers will already be immersed in a virtual environment.
But how will that manifest itself on a practical level?
Brands should see the metaverse first and mainly as a new Advertising channel. The metaverse, like any other channel, will provide advertiser’s with unique chances that will lend themselves nicely to richer, more immersive narrative experiences. Advertisements in the metaverse have already taken on some common forms, such as product placement.
Here are some instances of how brands may utilise the metaverse to advertise themselves:
Characters and virtual real estate
It’s understandable to wonder if businesses may own virtual real estate and have branded characters in the metaverse. This is how it might work: World of Virtual Reality, a company can purchase VR world for its specialty and incorporate a storefront / experience center for consumers to visit and shop, as well as an exercise space where people can compare items side by side. Many businesses have built branded characters and venues, as well as reproduced their services, within the virtual world. Interestingly, advertising has blended in seamlessly with surroundings.
Avatars in metaverse
When you first started using the internet, you probably came across avatars. They are virtual representations of our physical identities and may provide a great chance for advertising industry to establish its presence in the metaverse. Avatars are an essential component of the metaverse, and they would be crucial in a variety of metaverse advertising use cases. Once you’re able to totally immerse yourself in a world using your holographic glasses, your avatar will be the first ‘connection’ you’ll be able to wear and feel. Branded avatars, one of the most engaging and participatory methods to advertise a business, would play a significant role in upgrading your avatar’s appearance. In the future, businesses may give their new collections to customers virtually before they are released. It is easy to see the dual benefit of having avatars as tools for allowing customers to evaluate things.
Massive Interactive Live Events (MILE)
Massive Interactive Live Events, or MILEs, employ a single simulation to bring together a large number of participants on a single platform. Events are the next big thing that will provide chances for marketing in the metaverse. The power of live events is already being used by numerous businesses, but it has the potential to be taken to a whole new level in the metaverse. Events may be used to build interest in a product, market new products or services, and teach employees. Advertisers seeking to attract the attention of a large audience might utilise events to generate interest in new items that will be offered at a later date.
Diversity and inclusion
Finally, the most essential element influencing chances for metaverse advertising examples would be inclusion and diversity. These characteristics are critical to metaverse adoption since they not only provide a chance to get more users into the systems but also allow users to have a better understanding of who they are and how they interact with other users. As part of a wider campaign to promote the benefits of the metaverse among current users, these features must be reinforced through advertising possibilities. The metaverse, on the other hand, may enable companies to break through such barriers by allowing customers to construct their own experiences. Brands may seamlessly enter consumers’ metaverse experiences, making them feel connected.
In the end, the metaverse provides a unique marketing platform. If the advertising industry can create an atmosphere in which people can engage with brands it will make their communications more real. This may lead to increased retail and other business development, as well as more interactions with customers when they are on-site. Brands may reach a worldwide audience for advertising objectives by using SL avatars and user-generated content. While the structure of SL and OS projects may not be as prominent in mainstream advertising as video or social networks, the metaverse is a perfect place for the advertising industry to experiment with new advertising strategies and concepts.
However, every new marketing channel or technology has its own set of obstacles. So one should proceed with extreme caution when it comes to metaverse advertising.
(About Author: Arun Fernandes is the founder and CEO of Hotstuff Medialabs)
MAM
Karnataka clears Rs 4,824 crore investment projects across 13 districts
37 new industries approved, projects expected to create 14,525 jobs.
MUMBAI: If investment is the fuel of economic growth, Karnataka has just stepped on the accelerator. The Government of Karnataka has approved industrial projects worth Rs 4,824.31 crore, a move expected to generate 14,525 new employment opportunities across the state, according to a report by Press Trust of India. The approvals were granted during the 158th meeting of the Karnataka State Level Single Window Approval Committee, chaired by state industries authorities.
Karnataka industries minister M B Patil said the committee cleared 37 new industrial proposals and two additional investment projects spread across 13 districts, including Vijayapura, Bagalkote, Chitradurga, Kolar and Ramanagara.
The projects span a wide range of sectors such as information technology infrastructure, sugar manufacturing, technical textiles, compressed biogas, aerospace, jewellery manufacturing, electronics, software services and hospitality, including five star hotel development.
Patil said the diverse mix of industries reflects Karnataka’s strategy of attracting investments across both traditional manufacturing sectors and emerging technology driven industries.
Of the total proposals cleared, 22 projects fall under the large and medium industry category, each involving investments of more than Rs 50 crore.
Together, these projects account for Rs 3,908.68 crore in investment and are expected to create approximately 12,475 jobs.
Another 15 projects are classified as new industrial ventures with investments ranging between Rs 15 crore and Rs 50 crore. These projects collectively represent Rs 350.60 crore in investment and are expected to generate around 1,750 jobs.
In addition, the committee approved two further projects worth Rs 565.03 crore, which are expected to create about 300 employment opportunities.
Among the notable proposals cleared by the committee is a major information technology infrastructure development project by Bagmane Constructions Private Limited with an investment of Rs 494.65 crore.
Another significant project involves Karnataka Bangaru Sugars Pvt Ltd, which received approval to establish a sugar manufacturing facility worth Rs 443.50 crore.
In the textiles sector, Kleine Pax Ltd secured approval to set up a technical textiles manufacturing unit involving an investment of Rs 376 crore.
The hospitality sector also saw a major proposal, with Trishul Buildtech and Infrastructure Pvt Ltd receiving approval to develop a five star hotel project worth Rs 300 crore.
Meanwhile, the state also cleared a compressed biogas production facility by Troult Grass Pvt Ltd involving an investment of Rs 257.77 crore in Mudhol.
In the electric mobility segment, Tsuyo Manufacturing Pvt Ltd has been approved to set up a motor and controller manufacturing facility for electric vehicles, with an investment of Rs 250 crore.
Officials said the distribution of projects across multiple districts is expected to strengthen regional industrial development and expand employment opportunities beyond the state’s established technology hubs.
With the approvals spanning sectors from traditional manufacturing to next generation technologies, Karnataka aims to reinforce its position as one of India’s leading investment destinations while supporting job creation across diverse industries.
