Marketing: effects of immersive technologies, artificial intelligence, non-fungible tokens, and brain-computer interface

Abstract

This chapter takes a deep dive into the roles of Web3 and the metaverse in improving marketing and sales activities. It focuses on the roles of major technologies such as blockchain, cryptocurrencies, NFTs, AR, VR, AI, and brain-computer interface (BCI) in facilitating marketing and sales in the metaverse. The chapter discusses various mechanisms by which Web3 and the metaverse facilitate in-store and e-commerce sales. For instance, instead of a static product website, the metaverse offers 3D modeled showrooms in which shoppers can walk through like in real life. It provides a comprehensive introduction to the various roles of AR and VR in facilitating marketing and sales. It gives special consideration to NFTs’ roles in marketing. On the product strategy front, we provide details of how NFTs and the metaverse can help create and offer a one-of-a-kind and exclusive product and a new product for niche markets.