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Investing in the metaverse cannot wait, industry leaders say

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Editor’s Note 10/12/22: A previous version of this article contained incorrect information about how the Atlas Earth shopping experience works. That information has been corrected.

of metaverse Many call it the “future of the Internet.” the future, Mixed Reality (XR) — also known as hybrid or augmented reality — is expected to transform the way all industries do business, especially the way they communicate with customers. But some companies are already trying to create that future.An example is atlas earth — A mobile-first gaming experience provider that allows players to buy and cash out virtual real estate. A player cannot shop with an Atlas merchant her partner in the Metaverse, but the actual shopping they do with their partner has in-game effects in the Atlas Metaverse world.

and meta beat 2022where metaverse thought leaders and enterprise decision makers came together to provide guidance on the evolution of technology and its impact on enterprises.

Sami Khan, Co-Founder and CEO of Atlas Earth, Ethan Chuang, Vice President of Loyalty Solutions, Mastercard Advisors, and Mike Paley, Senior Vice President of Business Development, Atlas Earth Even though.

According to Khan, creating value across the board moves from building a good product to marketing it effectively, attracting more investors and ultimately building an even better product. It is a virtuous circle that builds a positive ecosystem that

This is why companies like Mastercard are excited to jump on new experiences like the ones Atlas Earth (a product created by Atlas Reality) offers in the Metaverse.

“What marketers and retailers are basically looking for is access to consumers on their channel of choice,” said Chuang.

The Metaverse does a great job of “extending reach to segments of the audience that many marketers and retailers care about.”

But how are marketers investing in this new space?

Experimental Budget vs. Performance Marketing

In understanding the principles and considerations that drive marketer spending, Khan and Paley provided two perspectives: experimental budgets and performance marketing, respectively.

Khan’s experiment budget 70-20-10 rule.

“You don’t really need to put 70% of your budget into something that works and you check it every day. With 10% of the budget, I put in things that I know are going to go wrong, but I feel like I have to because of FOMO (fear of missing out),” he said.

Paley offered contrasting views that avoided experimental budgeting and marketing altogether.

“What I like to do is put money in channels that have a positive return on ad spend,” says Paley.

For platforms like Atlas Earth where brands can set up shops and let players buy items. The Atlas Merchant Platform (AMP) allows brands to partner with Atlas Earth and allows players to earn virtual in-game currency for every dollar spent with the merchant his brand, in return the player earns can be obtained.

Paley said the “experiment” isn’t about testing whether the channel works, the real question is whether it’s “good” or “great.”

According to Paley, in today’s market where “customers want things now,” the metaverse could be more valuable.

Here’s how it works, he says: We deliver something special. “

For corporate decision makers like Khan, Chuang, and Paley, a healthy metaverse ecosystem seems possible. But only if the stakeholder strikes a balance between creating value for the user and getting her a good ROI (or better her ROI) on her marketing investment. We agreed to make it happen.

In Khan’s words, “It’s our job to collectively think about how to build a healthy win-win ecosystem as quickly as possible. Technology will certainly evolve and get better, but it will not happen.” can’t wait for

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