Let’s begin with Virtual Brand Group (VBG). What does it do and which gap in the market are you catering for?
We’re a metaverse creation company. We have identified a market gap, which is that global brands from Porsche to Polaroid are all dazed and confused about the metaverse. While the technology behind it isn’t new, it is new to consumers and brands, so we sit at the intersection of the technology, storytelling and brands.
Working with brands, we own and operate their intellectual property in the metaverse as a partner. They maintain brand control. We maintain operational control to create a sustainable business. We build long-term metaverse business strategies for brands, not just marketing stunts.
What are some of the misconceptions retailers have about the metaverse?
People say: ‘Great, it's just like e-commerce, we’ll sell in Roblox.’ And I have to tell them: ‘No, the goal is not to sell in Roblox or Decentraland or Sandbox. The goal is to take the metaverse and wrap it around all of your other experiences.’ In that vein, we have created the idea of Infinite Loop Marketing – a trademarked term that we own. It is the idea that one world pushes to the next, and then activates back into that world.
When marketing brands in the metaverse, what are the tangible benefits for shoppers?
Whether physical stores, e-commerce or catalogues, retail works in harmony but it’s also segmented. The beauty of the metaverse is combining virtual worlds and physical stores together – the Infinite Loop Marketing. If you visit the Forever 21 store in Roblox, for example, and buy an item, this issues a code that you can use on Forever 21’s website. It’s a call to action that encourages shoppers to move from Roblox to e-commerce, where they can buy their avatar the same fashion as they own in real life.
