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The term Cobranding, it is believed, was established in the 1950s after an alliance between Renault and the Van Cleef and Arpels jewelry store.
Collaborative strategies seek to increase the scope and impact on different audiences.
Within a digital universe, brand collaborations will be more and more frequent.
The metaverse has positioned itself as the next step proposed by companies and users within the accelerated technological development to which society was subjected, derived from social confinement; However, despite the fact that companies such as Meta or Microsoft are already working on their incursion with Augmented Reality (AR) and Virtual Reality (VR), various brands are already looking for ways to generate a presence within this virtual world, this through various marketing tools, so Cobranding in the metaverse plays an important role in the coming years.
Because the metaverse is today the new bet of technological development, Bloomberg Intelligence states that the metaverse currently represents an immediate business opportunity, of just over 500 billion dollars, a figure that is expected to rise to just over 800 billion in 2024, and just over 2.5 billion by 2030, likewise the active population within the metaverse is around 9 million, only for those considered as permanent residents , while daily transactions totaled 800 thousand euros. Simultaneous users were 40 thousand.
What is co-branding
Co-branding can be understood as a marketing strategy that implies a strategic alliance of two or more brands used in a single product or service, so this marketing technique can be pointed out as the intention of two brands to offer a service. or product for a limited time, this with the intention that the two firms can improve their profitability and their positioning, in addition to the scope that they understood within various audiences.
It is believed that the marketing term was generated during the 1950s, thanks to a strategic collaboration between Renault and the Van Cleef and Arpels jewellery, in which the automotive firm released a new car model with an exclusive steering wheel with precious stones designed by Van Cleef, a strategy that will allow Renault to stand out with a unique car and jewelery to expand its reach to new markets.
How to Implement Cobranding in the Metaverse
Advertising strategies within the metaverse offer endless possibilities; however, technology is still far from meeting the goals of the collective imagination, however it is possible to begin to have a presence within the various proposals that are developed today, with the help of artificial intelligence (AI) and augmented reality), where collaborations are generated such as that carried out by Snapchat and Adidas who within a collaboration, or Cobranding strategy, have managed to provide users with a new experience by being able to try footwear within the digital universe, with help of AR and augmented reality glasses.
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