42% of metaverse enthusiasts in the US have purchased items endorsed by celebrities or influencers. This highlights how influential digital personalities have been in guiding consumer decisions.
According to Statista, the rise of metaverses has seen a wave of high-profile celebrities and prominent brands taking steps toward the decentralized web revolution. As this virtual landscape continues to expand, it has become a hotspot for consumer engagement, mainly driven by the allure of celebrity endorsements.
Source: Statista Celebrities drive engagement with virtual events and digital avatars in the metaverse
The metaverse is a shared virtual space where individuals interact using augmented reality (AR) and virtual reality (VR). It has become a fertile ground for influencers and brands to engage with audiences and promote products and services effectively in virtual stores, events and immersive experiences.
Celebrities have promptly embraced the creation of digital avatars of themselves in the metaverse to better connect with their fans in a new interactive manner. Notable figures such as Justin Bieber have organized concerts within the metaverse.
Source: YouTube- Justine Bieber-An Interactive Virtual Experience
Last year, Paris Hilton launched ‘Slivingland‘ – a Roblox experience to promote her music, fashion, and other activities. The launch marked Hilton’s efforts to bridge the gap between Gen Z, the metaverse, and brands, providing a platform for brand activations.
Prince Harry and Meghan Markle are also launching their metaverse platform to host everything from business meetings to “public” appearances. This is expected to be done in collaboration with pax.world
Sources allege that Markle is the driving force behind the plan. As a result, the metaverse has cleverly been dubbed the “Meg-averse.”
Metaverse enthusiasts must remain vigilant against scams and risks
The connection between celebrity endorsements and purchasing decisions is nothing new, but the metaverse adds another layer of immersion and relatability. Brands are capitalizing on this opportunity by collaborating with celebrities to market virtual goods, from designer clothes to limited-edition NFTs (non-fungible tokens).
Still, with this great innovation metaverse enthusiasts should exercise caution. The metaverse operates in a largely unregulated environment; thus, virtual crimes are possible. Scams have already led to unsuspecting users having their digital money and NFTs stolen.
One example of this is the Neko Inu game. Play-to-earn games such as this are gaining popularity as they offer players the chance to make money through activities like forging items and trading them. The Neko Inu scam took advantage of this to steal thousands of dollars from users.