Brands No Longer See Metaverse-Like Worlds as Abstract Gimmicks Bruell, Alexandra, Wall Street Journal (Online); New York, N.Y., 29 Nov 2021. Facebook's announcement that it was investing $10 billion in the coming year on developing a metaverse environment and changing its name to Meta Platforms Ine. got the attention of major brands and advertisers. Your case study assignment this week is to explain what the metaverse is and how companies/brands can use the platform to improve brand recognition and get existing customers more engaged. Please read the attached WSJ article or locate the article in UNM's Global Newsstream Database and answer the following questions: 1. First, explain what the metaverse is and how consumers interact with brands in the metaverse. Refer to the information presented in the article as well as your textbook to support your responses to this question. 2. What companies or btands do you think should be investing in a metaverse strategy? Critically evaluate why and how these companies/brands can benefit from expanding into the metaverse. Support your response with information from your textbook or other sources (be sure to cite these appropriately). The answer to each question should be at least a paragraph in length. Do not simply bullet ideas - discuss and explain in full sentences. NUMBER your responses to each question. Discuss your answers thoroughly and use relevant terminology from the chapters for full credit! NOTE: It is your responsibility to: 1) ensure that you submitted the correct document (you can verify what you submitted by going to "Grades"); and 2) verify your assignment was properly submitted (watch for a confirmation email and/or check for "submitted" in "Grades"). Eormatting requirements: - Write clearly and concisely and run a grammar and spelling check. - Separate your answers in numerical order. In other words, please do not type one long paragraph. - Submit this submission as a Word document. Brands No Longer See Metaverse-Like Worlds as Abstract Gimmicks; Chipotle, Vans and Verizon turn to Roblox, Fortnite in an effort to build brand recognition Brueli, Alexandra. Wall Street Journal (Online); New York, N.Y. [New York; N.Y. 29 Nov 2021. PProQuest document link FULL TEXT Brands had been toying wath the metaverse for some time before Facebooks tecent name change turned the term. into a household word. Now some of them are getting serious. Companies including Chipotle Mexican Grill inc, Verizon Communications inc and streetwear brand Vans earliec: this year built their own digital worlds on metaverse-like platforms such as Roblox Corp. and Fortnite Creative in an attempt to improve beand recognition and get existing customers more engaged. Their efforts are a sign that advertisers, which have long been hesitant to spend marketing dollars on experimental efforts, are warming to new digital platforma. Facebook's late October announcernent that it would develop a metaverse environment, including inve.

1. Brands No Longer See Metaverse-Like Worlds as Abstract Gimmicks Bruell, Alexandra, Wall
Street Journal (Online); New York, N.Y., 29 Nov 2021. Facebook's announcement that it was
investing $10 billion in the coming year on developing a metaverse environment and changing
its name to Meta Platforms Ine. got the attention of major brands and advertisers. Your case
study assignment this week is to explain what the metaverse is and how companies/brands can
use the platform to improve brand recognition and get existing customers more engaged. Please
read the attached WSJ article or locate the article in UNM's Global Newsstream Database and
answer the following questions: 1. First, explain what the metaverse is and how consumers
interact with brands in the metaverse. Refer to the information presented in the article as well as
your textbook to support your responses to this question. 2. What companies or btands do you
think should be investing in a metaverse strategy? Critically evaluate why and how these
companies/brands can benefit from expanding into the metaverse. Support your response with
information from your textbook or other sources (be sure to cite these appropriately). The answer
to each question should be at least a paragraph in length. Do not simply bullet ideas - discuss and
explain in full sentences. NUMBER your responses to each question. Discuss your answers
thoroughly and use relevant terminology from the chapters for full credit! NOTE: It is your
responsibility to: 1) ensure that you submitted the correct document (you can verify what you
submitted by going to "Grades"); and 2) verify your assignment was properly submitted (watch
for a confirmation email and/or check for "submitted" in "Grades"). Eormatting requirements: -
Write clearly and concisely and run a grammar and spelling check. - Separate your answers in
numerical order. In other words, please do not type one long paragraph. - Submit this submission
as a Word document. Brands No Longer See Metaverse-Like Worlds as Abstract Gimmicks;
Chipotle, Vans and Verizon turn to Roblox, Fortnite in an effort to build brand recognition
Brueli, Alexandra. Wall Street Journal (Online); New York, N.Y. [New York; N.Y. 29 Nov
2021. PProQuest document link FULL TEXT Brands had been toying wath the metaverse for
some time before Facebooks tecent name change turned the term. into a household word. Now
some of them are getting serious. Companies including Chipotle Mexican Grill inc, Verizon
Communications inc and streetwear brand Vans earliec: this year built their own digital worlds
on metaverse-like platforms such as Roblox Corp. and Fortnite Creative in an attempt to improve
beand recognition and get existing customers more engaged. Their efforts are a sign that
advertisers, which have long been hesitant to spend marketing dollars on experimental efforts,
are warming to new digital platforma. Facebook's late October announcernent that it would
develop a metaverse environment, including investing $10 bilion on the effort this year and
changing its name to Meta Platforms inc. is expected to accelerate that trend "Facebook saying.
Were going to put $10 bilion into this," I think provides a fot of incremental confidence that this
would be a worthwhile experiment, said Brian Wiesec, qlobal president of business intelligence
at GroupM, 3 mediabuying company inside ad agency behemoth wPP PLC. The metaverse is a
relatively new term to describe a futuristic intemet with virtual experiences where people can
custornize avatars - digital images representing themselves-to play games, make virtusi
purchases and interact and atteod events such as concerts and comedy shows. Roblox is currently
among the highest-profile metaverselike platforms. This futuristic version of the internet is
unlikely to become a significant branding platform for companies anylime soon. Meta Chief
Executive Mark Zuckerberg said last month that the metaverse was five to 10 years away from
being developed and adopted by a large number of users. Marketing executives from companies
curtently present in the metaverse, including Vans and Chipotle, said they have yet to use the
platform to sell physical goods. Some marketers are also concerned the metaverse may just be a

2. repeat of Linden Lab's virtual worid Second Life, said Kieley Taylor, global head of partnerships
at GroupM. Second Life, a community made up of islands and avatars developed by individuals
and businesses, launched in the early aughts to much fanfare from advertisers, but never really
had a meaningful enough user base to stay relevant or grow large enough for brands to benefit.
said Mr. Wieser of GroupM. Others believe things will be different this time around. Chris
Brandt Chipoties chief marketing officer, said he expects consumers to weicome a more
immersive web experience, especially after pandemic confinements ied them to change their
habits "Being at home using avatars, having the ability to get everything delivered to your home-
that changes the way people think about digital, Mr. Erandt said. "1 think the world is more
ready for it," Chipotle has handed out discounted or free burritos to people in costumes around
Halloween for the past two decades. This year, it chose to host its longrunning "boorito"
promotion in the metaverse. The Mexican-food chain turned to Roblox, where it bult a vitual
store where avatars could dress up in costumes such as a Chip Bag fhost bto the inelavene
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