The Metaverse and Your Wine Brands
Every winery and wine brand will eventually need a Metaverse strategy.
During the pandemic, some wineries have become adept at conducting on-line tastings and enhancing customer experience by providing virtual vineyard, winery and cellar tours. Wineries were compelled to connect online with customers like never before. This is just the beginning. Wine businesses will need to adapt to an increasing technological sales process not only online but in the Metaverse.
The Metaverse is a virtual and immersive digital world that that reflects our real lives in many respects. The Metaverse is inhabited by digital representations of people, places and things (including brands). The Metaverse experience can provide experiences on par with the real world, while also offering experiences beyond those of the real world, for example, the sensation of human flight.
Of importance to brand owners, the Metaverse hosts a growing virtual marketplace that allows users to buy, sell and share digital assets like NFTs (non-fungible tokens), virtual real estate, experiences, information and virtual goods. It will be inhabited by users living second (or even third) lives – wholly digital lives. Just as the Metaverse parallels our real lives, where branding is used in the real world it will have a digital partner in the Metaverse.
Wineries should be interested in the Metaverse because retail will be one of the largest sectors in it, with social experiences, a close second. In addition, wineries should care about the Metaverse because it will have real world impact on their marketing and branding. Not only will the Metaverse be a new market for products and services, it will also be a new source of data collected from users of the Metaverse that can be leveraged by businesses in the real world. Just as real-world sales drive sales in the Metaverse, the Metaverse can drive sales in the real world.
There will be opportunities in the Metaverse for wine product placements (branded products in games or experiences), virtual events like cellar, winery and vineyard tours, virtual tastings, computer generated retail stores featuring wine, and virtual online education featuring branded content or sponsorship. The Metaverse can also offer wineries opportunities for sales of NFTs, for example, NFT Wine Club has more than three thousand real-life vines in Napa, California which are tied to a digital NFT. In addition, Wine Bottle Club will replicate its physical cellar in a virtual shop in the OVER (OVR) Metaverse.
The Metaverse is likely to become an important part of the wine industry marketing and sales. In addition to real world brands make sure your trademarks are registered for virtual goods, goods for use in online environments, virtual online environments and extended reality virtual environments, retail store services featuring virtual goods, etc. A trademark for a real-world brand may not protect you in the Metaverse. Ensure that your trademarks are registered for digital and virtual reality products. This is the key to protecting a brand in the Metaverse.
For assistance with branding protection in the Metaverse or the real world, contact Katja Loeffelholz.