More than $35 Million Metaverse Deal! Samsung Steps Up its Game
Samsung will spend more than $35 million on metaverse projects in the Latin America region
Samsung’s $35 million metaverse deal: Recently, one of the largest electronics businesses in the world, Samsung, said that it will spend more than $35 million on metaverse projects aimed at customers in the Latin American region. This move is made as part of the brand’s ongoing digital push and growth marketing plan, and its primary objective is to facilitate the brand’s ability to attract and interact with younger people in emerging generations in this region.
Metaverse in Latin America
In an article published on December 20, Anita Caerols, director of marketing and corporate citizenship of Samsung Electronics Chile, explains the motivations behind this virtual reality push for the company. She stated:
At Samsung, we believe that the metaverse is a concrete commitment to connect with young consumers. This is why we are investing more than US$35 million in initiatives that cover the whole of Latam.
Furthermore, Caerols believes that fully immersive platforms are part of the future of marketing and that the current metaverse for digital natives is a natural extension of social media platforms, making it a sensible field for Samsung to explore.
Samsung’s metaverse deal
Samsung’s emphasis on the Metaverse, and the amount of money invested in this area, is justified by the marketing vision presented by the company. In this regard, Caerols explained:
If a company is to speak and connect with young audiences, see current and future potential consumers, and connect with new influencers, it is imperative that they are now in the metaverse.
Generation Z and Generation Alpha audiences, more accustomed to these platforms, are the ones Samsung wants to attract to its proposition and products. According to a LinkedIn study, 400 million users currently spend every month on metaverse platforms, 51% of whom are 13 years old or younger.
The marketing vision presented by Samsung justifies Samsung’s focus on the metaverse and the amount of money invested in this area. Furthermore, according to a LinkedIn study, the various Metaverse platforms currently have an active audience of 400 million monthly users, 51% of whom are 13 years or younger.
The barriers that currently separate the virtual and real world will undoubtedly not exist in the world that this younger generation creates in the future. However, this means that there will be many opportunities to build together.
Like their digital influencer, SAM, who is a center for brand and event innovation and is also the avatar portrayal of the spirit of the Samsung brand; their island in Fortnite called the Samsung Smart City, where the business thinks that the connection with their customers is established via gamification; and, most recently, House of SAM in Decentraland.
Samsung believes that organic commitment to society will increasingly become an essential aspect of the process of unifying the communication and marketing strategies of major brands.
Samsung’s interest in the virtual world is not new. However, the company has already taken steps to become part of various metaverse platforms. The company launched its “House of Sam” experience in Decentraland in October. However, it allows users to virtually interact with the company’s products. In July, Samsung also released “Space Tycoon,” a Roblox metaverse experience. It allows users to be part of a space station where they can build Samsung products with raw materials.