In every other industry but the advertising industry, a success percentage of 2% on any campaign is abhorrent. The mess of second-hand data that marketers rely on to create our multi-million dollar campaigns is the reason this is the case.
GenAlpha and GenZ: Proud Digital Ownership
The Metaverse is that appropriate location. The future is not far off; it is here and now. The secret to having reliable data-driven insights would be to take control of the data collection process. Web 3.0 is essential for decentralising the data in this situation. Generation Z and Generation Alpha are revolutionising how they view digital ownership as a result of the introduction of NFTs. They view the metaverse as a venue for expanding their personas.
A population that believed in proudly owning tangible goods like automobiles, homes, luxury items, second cars, second homes, and so on was brought about by the buying habits that accompanied the industrial revolution and the liberalisation era. This idea gave birth to the re-discovery of communities and self about ten years ago with the rise of the shared economy model. And today, we can see this progression in people’s pride in their ownership of digital goods.
Data Collection is Revolutionized by “You Are What You Buy”
Digital collectables will be consolidated into a single virtual wallet, giving advertisers a clear window into their “shelf space.” It informs us about both a desire to buy as well as actual purchasing power. GenAlpha will distinguish itself through ownership of cutting-edge NFT assets like the newest Nikes or Lamborghinis. They’ll view the metaverse as a way to develop their personality further. Considering that kids would be exposed to it through educational and communal activities.
Making preparations for Alpha Generation
For brands, this is still very early in the game. Tech itself is exploring uncharted ground here. Therefore, while the fanfare in the metaverse is a good indication and businesses from many industries are cautiously trying to establish their flag to gain first-mover advantage, it is now time for us to transition from “Fan” dom to a more serious turn, namely “Brand” dom.
Web 3.0 has been adopted by the current generation of Millennials and Generation Z. Web 3.0 natives, with the above-mentioned special set of considerations, will make up the next generation of GenAlpha. The next generation’s smartphones will be cryptocurrency wallets and digital wearables, with each person having one. GenAlpha may not even be active on any social media sites in the future, which would prevent us from learning anything about their true personalities. Additionally, although mining their digital footprint will be a time-consuming and hard operation, the incisive data and razor-sharp insights they contain will make the work worthwhile.