Web3 is the future of the Internet, but Gen Z is the future of the Metaverse. Brands are starting to realize what I’ve been advocating for the past two years, which is that you need to meet the Gamer Generation where they are. According to Citi, the Metaverse or Web3 may be a $13 trillion industry and Generation Z economic power is the fastest growing in all generations expected to be $33 trillion by 2030. No company wants to miss out on that.

Gen Z, my generation, makes up a third of the world’s population, but represents the majority of active users of the metaverse. The stats are out there, and made-for-adult virtual lands like Meta Horizons, Decentraland, and the Sandbox are literal ghost towns. Despite the billions upon billions of dollars that have been poured into these immersive environments, the virtual lands mentioned above have little to show for it in terms of actual user engagement. That’s why I’ve laid out 3 suggestions for brands to consider before they start adding a web3 or metaverse component to their business.

My first suggestion for any brand is to start researching what has worked in the past. Many times we get stuck trying to reinvent the wheel when we just have to see what has worked and replicate it. For example, in 2020 I watched Travis Scott’s immersive concert in Fortnite. The response was incredible. The virtual concert had more than 27 million live viewers and 12 million Fortnite users logged in in just over ten minutes. It was a real smashing success. Live meta events have been popular for over two years. The key to having a successful event, like a Travis Scott concert, is tailoring the event and location to the right audience. That’s what I mean when I say see you where we are. The games we play are early versions of the future. metaverse. So it was great that this was in Fortnite where there was a huge Roblox-like audience.

My second suggestion is to partner with the people who can make it happen and attract the right audience. An example is my company, Mozverse, we’ve begun relationships with two OGs, the king of audio, multi-platinum producer, and hitmaker Scott Storch, and the Ultimate Tech OG, IBM, which, for over a century, has been dedicated to creation of innovative technology. We’re developing the ultimate immersive entertainment experience with hyper-fidelity, hyper-realistic avatars, and several new surprise twists that will wow even the most seasoned VR gamers. We are currently discussing collaborations with some of the most popular gaming, media and entertainment entities catering to Gen Z. This will ensure we have the right technology, communities, exposure and artists to make this something that sells.

My third suggestion is to test the waters. Start small by adding an additional component to your business. There’s no need to go all-in and change your entire business model. There are many brands that have done this successfully, such as Nike, Adidas, Starbucks, and even traditional Walmart.

Walmart is launching two virtual environments within Roblox, one of the world’s largest immersive gaming and game creation platforms. Walmart’s new Walmart Land is geared towards fashion, while its Universe of Play focuses on toys. Both use the immersive nature of virtual reality to gamify the experience. Without needing to spend real dollars, kids can earn in-game coins and spend them on virtual gear (like headphones or Fitbits). These virtual environments allow Walmart to do things that are otherwise cost-prohibitive, like rain toys down from a huge blimp in the sky. Based on the recently filed patents by Walmart, it appears that their plan is to incorporate blockchain technology (virtual currencies and NFTs) later on.

Web 3 and the metaverse are supposed to be young and fun

Technology is key to building the next iteration of the Internet. Innovation in blockchain and the ecosystem that surrounds it is the architecture that will make the realms of the metaverse and the economy of the metaverse possible.

However, the brands that will be successful in the future will serve the needs of their users by giving them the technology they crave and making the experience fun. Remember that Gen Z are the future customers of the company. Get started today so you don’t get left behind.

Making a play for the Metaverse? First, learn to play the game.