HomeForbes Enters the Metaverse: How it Will Change Content Creation

Forbes Enters the Metaverse: How it Will Change Content Creation

Forbes’ Metaverse campaign represents a new frontier for content creation and distribution. It demonstrated Metaverse is viable for platform monetization.

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Updated: April 4, 2023
Forbes Metaverse

Forbes, the renowned American business magazine, has recently entered the Metaverse.

This move has caught the attention of the media industry and sparked an interest in understanding what the Metaverse is, how it works, and how it could revolutionize content creation. 

Forbes has been experimenting with Web3 for some time now. It was the first publisher to transform its cover into an NFT (non-fungible token) in 2021.

However, according to Vadim Supitskiy, Forbes’ Chief Technology Officer, the publication is now creating its virtual universe on the web.

Supitskiy expressed confidence that the venture would eventually become profitable.

However, the primary motivation behind creating this virtual experience was positioning Forbes for the future and expanding its value proposition for subscribers.

The Campaign–To Position Forbes for the Future and Expand Its Value Proposition for Subscribers.

Forbes entered the Metaverse in March 2022, intending to create a virtual world that could be monetized.

The company partnered with Sandbox, a decentralized gaming platform, to create a virtual world that mimics the physical world.

Forbes’ virtual world, called Forbes Metaverse, features a beachfront property with a hotel, a pool party area, and a DJ booth.

The virtual world is accessible to anyone with a Sandbox account, and users can interact with each other in real time.

Vadim Supitskiy, chief of technology at Forbes, presented a video featuring a visitor experiencing the amenities of Forbes’ Metaverse.

As the player explored the estate, Supitskiy explained that they could dance and enjoy themselves while learning about Forbes.

The Metaverse experience allows users to communicate and compete with others or hang out and have fun.

If users want to embark on a quest, they can interact with non-player characters, like the one representing Malcolm Forbes.

During the quest, a notification appeared on the screen to find the cocktail bar.

Supitskiy narrated the journey, which included a pool party area, a DJ, and the opportunity to showcase dance moves.

As the avatar entered the clubhouse building, Supitskiy explained that users could gather clues about Malcolm Forbes, such as his love for riding motorcycles and his car collection, to progress through the quest.

Users would also need to answer three questions to proceed.

Forbes’ goal was to monetize the virtual world through advertisements, virtual merchandise, and sponsorships.

The company also aimed to create an engaging and immersive experience for its audience.

According to Forbes, the Metaverse represents a new frontier for content creation, and it is essential to be present in it to remain relevant in the digital age.

Forbes Metaverse in Sandbox

How Does This Differ From Other Campaigns in the Metaverse?

Forbes’ Metaverse campaign is different from other campaigns the company has done in several ways:

  1. The campaign aimed to create a virtual world, which Forbes had never done before.
  2. The campaign was centered around the Metaverse, a relatively new concept that Forbes had not previously explored.
  3. The campaign aimed to create an immersive and engaging experience for the audience, which is different from traditional content creation, which focuses on delivering information.
Check out Play Sandbox exploring Forbes Metaverse

How Did the Campaign Perform?

Forbes’ Metaverse campaign was successful, generating significant buzz and media coverage.

The campaign attracted thousands of users who visited the virtual world, interacted with other users and explored the features.

According to Forbes, the virtual world had many visitors in the first week of launch, and the number continues to grow.

The campaign also received positive feedback from the media industry, with many praising Forbes for its innovative approach to content creation.

In an interview with Press Gazette, Forbes’ Chief Marketing Officer, Jessica Sibley, said, “The Metaverse is a new frontier for us, and we are excited to explore it. We believe it represents the future of content creation and distribution, and we are committed to participating in it.”

Using the marketing analysis, here are the campaign results:

  • The campaign generated significant buzz and media coverage.
  • The virtual world attracted thousands of users in the first week of the launch.
  • The campaign received positive feedback from the media industry.
  • The campaign aimed to monetize the virtual world through advertisements, virtual merchandise, and sponsorships.
  • Forbes sought to create an immersive and engaging experience for its audience.
  • The campaign successfully positioned Forbes as an innovative and forward-thinking brand.
Forbes Metaverse in Sandbox

What Could Forbes Learn From Other Campaigns in the Metaverse?

Forbes’ Metaverse event represents a new frontier for content creation and distribution.

The campaign has demonstrated that the Metaverse is a viable platform for monetization and engagement.

The campaign’s success has positioned Forbes as an innovative and forward-thinking brand willing to explore new frontiers in content creation.

Forbes Metaverse campaign is the first of its kind; however, it could also learn from other campaigns such as LG Uplus and Metalab.

Although their campaigns focus on revolutionizing education, as they launched a university in the Metaverse, it has the same concept and goals as Forbes: to utilize the Metaverse technology and give users an immersive experience.

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