Euroleague’s arrival in the Metaverse and how it will influence digital marketing
Euroleague’s arrival in the Metaverse and how it will influence digital marketing. The Euroleague, better known for sponsorship reasons as the Turkish Airlines Euroleague, is the top basketball club competition in Europe. And they recently launched their own metaverse close to the date of the final phase of this championship.
This is to promote a digital transformation of the Euroleague through new experiences for its users and fans. For which the Spanish company VRM, in charge of creating this virtual world, dedicated itself to adapting the elements that they live there. And they prepared them for this final phase in which the finalist teams participated.
What does this multiverse offer?
This virtual world was designed and created in the first place so fans could enter from anywhere and enjoy the show. Creating an avatar with which you can interact with other fans, play metaverse shooting, and earn virtual coins within it. In addition, get power with these coins to unlock additional content.
Also, they have created a collection of rings in NFT format. To honour the team that is crowned champion once the tournament is over.
Future of this metaverse
Now, this does not end when the final phase of the championship is completed. Since it has been announced that, once this phase is completed, the metaverse will be redesigned to make way for the regular season. Ensuring a collaboration that will keep this universe active for the next 4 years.
Metaverse and digital marketing
The metaverse is the new field of digital marketing. Through it, an interaction is achieved that, by other means or strategies, would not be achieved to that magnitude. Many events and meetings are held in these spaces, offering unique and exclusive experiences. This is why a subscription must be cancelled to access.
Thus, there is a considerable number of users of this virtual universe. All represent a focus of interest in the brands that make life in the metaverse. As well as others that wish to be included and benefit from the advantages this virtual reality offers for advertising.
Proof of the growth that digital marketing has had in the metaverse is that, as it is an attractive, interactive, and creative space, there are ample possibilities for creating campaigns aimed only at that particular audience. As is the case with the metaverse of the Euroleague. Which was made with basketball fans and each team in mind individually. In addition to the launch of the NFTs and other new features that promise to be available in the future.
EuroLeague Business Profit in the Metaverse
The presence of brands within the metaverse is already an irreversible fact. Each one takes advantage of an opportunity to reach audiences on a broader and global level.
The virtual world offers opportunities that the physical plane does not. As well as several clients that grow daily. And now we have the support of the Euroleague. This is why many brands don´t hesitate to incorporate their marketing plans into this, where the business benefits are vast.
Many brands sell clothing, shoes, accessories, and household items. In this case, the Euroleague will sell NFTs with the champion rings that fans like so much. And coins to be able to redeem and provide commercial advantages to its sponsors. Collaborations will allow them to develop other types of digital assets oriented to this specific competition and sport. All to receive income thanks to the interaction they plan to have with the inclusion of the Euroleague basketball championship in the metaverse.
Opportunities offered by the metaverse
The metaverse for brands continues to grow. And the opportunities it offers to generate contact with users cover more and more spaces. Allowing them to be creative in creating content and, above all, in obtaining income.
But in the field of marketing, it offers a series of opportunities, among which we can refer to:
Build long-term relationships.
Thanks to its interaction, the metaverse can encourage long-term projections of relationships that occur within. The key at this point is to offer them opportunities, experiences, and results that make them want to stay. And continue participating in the promoted events rather than trying to sell them a product or brand as such. The goal is to provide them with entertainment and that each activity they participate in is immersive.
This way, achieving the required engagement.
Increase visibility, Euroleague.
An impressive campaign that knows how to penetrate a person’s thoughts will go viral regardless of the space in which it is developed. Because those who receive the information will comment on it and spread it.
For this reason, and thanks to the popularity that the metaverse enjoys today, the targeted and reproduced campaigns for this space seek to be recognized by the users who live there and thus gain ground.
Above all, because the public we´re talking about is located on a young scale, that´s sometimes challenging to capture.
Focus on participatory marketing.
Going out to the stores to buy is something that we are sure many people like. Well, the metaverse offers this option in 3D. Walking just as we do in real life through a shopping center is possible in this space. We can enter shops, try on clothes, and shoes, among others, and even interact with others in the same place. This offers a brand opportunity for the customer or user to make a purchase and invest their money within the metaverse. Since what you purchase there, you can only use within this reality and not in real life.
Revenue Increase, Euroleague.
In the metaverse, many want to have a life of luxury and comfort. For this, buying things such as luxury houses or attractive profiles, clothes, and accessories is necessary, among others. To achieve that virtual status that we want. And to satisfy these needs, the brands create the objects we will use to build our heritage in the metaverse.
And this option is a way in which brands manage to increase their income accompanied by one. A marketing strategy that drives the purchase by the user.
In addition to everyday products, there are NFTs to which many brands or companies resort to making unique and exclusive resources available. Such as the case of the Euroleague, which, as we already mentioned, will have championship rings available in NFT format. And which you can get through fungible tokens or cryptocurrencies.
Joining the metaverse is undoubtedly an attractive thing to consider. Due to the possibilities of growth, visibility, and monetization it offers. As well as the options of implementing strategies that sometimes don´t work correctly in the real world.
Therefore, when faced with an idea, a desire to promote the metaverse allows you to be creative, unlimited, and bold to act and generate ideas and campaigns with which you can obtain the desired results.
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Keywords: metaverse, Euroleague, NFT, digital marketing, basketball.
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