Sparebank1 plans exhibitions, concerts and lectures to market itself – but this should not happen in reality.
It will take place in a virtual reality, also called the metaverse.
We can connect with young people in new ways, says Morten Soberg, Community Relations at Sparebank1.
They have already spent 700,000 NOK on digital buildings built by the architects.
25 percent of the world’s people will spend more than an hour a day in one or more regions by 2026, according to the Gartner Inc.
Sparebank1 is among the players who have purchased buildings and lands in several virtual worlds, but do not yet know if they intend to move.
Is it safe to spend nearly a million kroner on a virtual building?
– The answer to that is yes. He says if it wasn’t justified, we wouldn’t have done it.
Here you can see the prototypes of Sparebank1 digital buildings:
— and the more Norwegian representatives invest, the more convenient it becomes for us to enter the metaverse, he says.
More Norwegian actors in Metaverse
Brønnøysund Records is one of the first public Norwegian representatives to test information services in the Decentraland metaverse, according to NTB.
Consulting firm Ernst & Young (EY) has purchased a plot of land in Decentraland, which Brønnøysund registers with the Swedish Tax Agency.
They moved last week and Brønnøysund Records director of communications, Kristen Asen, says they have chosen to move to the metaverse to explore new technology and show themselves.
There’s a whole new user group in the metaverse that we don’t know about today, she says.
When Gods Entering their port, they can press for information via text messages.
– It is a purely informational service, says Assen.
They chose to report only on cryptocurrencies and set up the company in the metaverse.
– Those two topics are the most relevant in the first place, she says.
Brønnøysund Records has spent just under 100,000 NOK on the project, Frode Nordfjellmark, press officer at Brønnøysund Records, told NRK.
Have a little faith in the metaverse
Blockchain expert and former DNB and Nordea employee Lasse Meholm believes that self-marketing in the metaverse is basically a good thing.
– This is a great way to learn digital marketing. Meholm concludes that those who spend money on this have money for it.
He is confident Sparebank1 is spending time and money on it.
On the other hand, Miholm is absolutely sure that those who buy real estate with millions of kroner will find their value close to zero in a few years.
He does not think that this technology will become popular and that it may be a small bubble.
“Buying a property in the Metaverse area, and thinking it could be a good investment, doesn’t work,” he says.
Not sure about development
Sparebank1’s Søberg says they don’t know how the metaverse will evolve, but they want to be on top.
Nobody knows what this will be in 25 years, but if it does take off, it’s wise to be early to build up internal expertise, he says.
Aasen from the Brønnøysund records is not certain either, but:
There were many who didn’t believe the Internet was here to stay when that happened, she said.
“Web specialist. Lifelong zombie maven. Coffee ninja. Hipster-friendly analyst.”