June 2, 2022 – 3:53 pm
Vollebak, a brand ready for a future Earth, has launched a space travel jacket. The product has an anti-gravity pocket and a compartment in case travelers get sick, launching a futuristic product that matches its concept. In Decentraland, the brand has prepared a treasure hunt for the item, and for the first time, the item will be available in the metaverse.
The action is one of R/GA’s case presentation by Nick Coronges, the agency’s global chief technology officer, on stage two of the ProXXIma event. Experts believe that the creative work for these new virtual worlds comes from the intersection with technology, considering terms such as the metaverse and Web 3.0 in everyday life in a more practical and applicable way. “What we need is more practical insights and really bring that into our daily lives of what we can and should do,” he said.
One of R/GA’s weapons is “venture capital,” which is working with leaders to help them leverage disruptive and emerging technologies for growth. “It’s just a very important part of how we think about innovation, because a lot of innovation and talent has come into this startup ecosystem,” Coronges said. “We believe that in order to be relevant, to make it happen and to understand these trends, we have to engage that community. […] That means really engaging with them and investing in these companies. “
The CTO reminded viewers that the metaverse is nothing new, citing the origins of the term, when author Neil Stephenson first coined it in 1992 in one of his works. Bitcoin began to appear in 2008. However, “what happened in the last few years to get everyone so excited about it?”, Coronges asked. The answer comes in the form of examples: the embodiment of virtual worlds and games like Roblox, Fortnite, and Minecraft. Furthermore, the emergence of primarily blockchain-based platforms has made NFTs popularized, for example, to purchase land in a virtual environment.
According to him, the confluence of all these trends constitutes the Metaverse and Web 3.0: gaming, crypto and blockchain, and the digital transformation of society – of course, affected by the pandemic. “The fact that we’re working remotely and spending more time online has actually made a huge difference in the amount of time we spend online. It’s changed the way we see ourselves now — we’re thinking about how Look at Zoom, in our avatars,” the executive said.
“It’s important to understand Web 3.0 in the context of how people understand Web 2.0 and 1.0,” comments Coronges. This progress began with the democratization of access to audiences and information, and the advent of major technologies such as the Internet. Then came the big aggregators: big tech companies, representing what we see today, such as cloud, big data, and smartphones. The next step is to demonstrate the immersive internet, decentralization and tokenization of processes to the public.
Citing companies like Google and Facebook (now Meta), the executive said their services are important because they facilitate the consumption and creation of content, but warned: “The only problem is that it puts power in the hands of a few. hands, and it limits the format.” In this sense, for example, brands are limited by their creativity in creating interactive content to satisfy the Instagram format.
However, things are starting to change. “There are a lot of people saying that Web 3.0 is a new world, and decentralization is again a gateway where you can create platforms that no corporate entity owns. So this is starting to make waves in the developer community and brands are starting to take notice,” Coronges Say. He also pointed out that Web 3.0 will not be a replacement for Web 2.0, but a new dimension.
According to the CTO, some of the lessons R/GA has learned from working with clients in virtual worlds is that the purpose of branding is to guide the application of technology, including operations that are specific to such virtual environments and created locally. “Brands have to figure out what makes them different, how to express them and what makes them native on the platform,” he agrees. Additionally, Web 3.0 represents a mindset shift that starts with consumption, drawing attention to engagement and access, remembering it as an extension of a brand’s overall omnichannel strategy. In addition, new technologies require legal and financial efforts that require additional support for mobile applications in these media.
When asked if there is room for small brands and general consumers in the virtual world, the R/GA spokesperson noted that in this environment, small brands stand out because new technologies are created by small companies and communities. Those were native to Web 3.0 before they went mainstream and became bigger and more compelling. He also noted that it may be more difficult for big brands to apply for shares because they already have very ingrained beliefs that must be broken in order to enter the new world.