Complete with holographic avatars fencing and shooting hoops, the VP of Meta’s Metaverse unit Vishal Shah closed out the first day of speakers at an advertising conference with a speech about the perks and profits of the metaverse, according to reports.
Shah spoke at the Interactive Advertising Bureau’s leadership meeting in New York, being held in-person in Manhattan through Thursday (Feb. 10). His talk, “The Road to the Metaverse,” outlined the many opportunities that await brands in the metaverse, with immersive shopping just being one of many.
“Without the physical limitations that exist today that put pressure on businesses’ bottom line, things like real estate, supply chain and geographical reach, the metaverse will open up more opportunities for businesses to make money,” Shah told the audience.
It could take 10 years before the metaverse is fully realized, Shah told the crowd, saying advertisers should start trying to create their own augmented reality ads.
“Everything you’re doing now across our apps will benefit you in this metaverse future,” he said.
Meta has been talking up how the metaverse will follow the mobile internet as being the next big thing and has been busy investing heavily in virtual and augmented reality.
In another plug demonstrating the power of VR and the upcoming metaverse, Shah mentioned that the Foo Fighters would perform a concert in its virtual reality events app Horizon Venues following the Super Bowl on Sunday (Feb. 13), per an Oculus blog post on Monday (Feb. 7).
Meta’s Metaverse has a partnership with the National Football League that will let users outfit their VR avatars with team jerseys as part of an experiment in digital goods, according to a blog post on Jan. 31.