Metaverse marketing has become the cornerstone of the growth and expansion of the industry. Never before has its importance been critical to evolution and expansion.
There are many metaverse ecosystems and platforms that emerge daily.
These ecosystems come with great ideas and concepts but they lack one component: marketing.
The implications of this depict the malaise that currently pervades the web3 space.
The lack of mass adoption and growth can grow if the right marketing techniques and methods get implemented.
Recently, marketing and branding heavyweight Right Lassi joined the Looking Glass Labs’ team as the Senior Vice President of Marketing.
He took time off to talk to us about the many issues that surround metaverse marketing activities.
Ryan Lassi SVP of Marketing at Looking Glass Labs
What are the forces driving Metaverse marketing?
Right now the forces driving metaverse marketing are really just a bunch of buzzwords and FOMO.
This will soon change with scale.
The bigger question I’m thinking about is: “How will the metaverse shape marketing?”
I think we’re about to unlock marketing channels we don’t even know exist yet.
What are the most responsive channels that currently work?
Community is everything right now.
Whether it be Discord, Twitter or Telegram – nurturing your community is critical for short and long-term success. If a brand can empower their community at the ground level,there’s a good chance that community will stay with them for life.
How is the House of Kibaa? Anything new?
I’m honored to be working with such forward-thinking and talented people at HoK.
In the short couple weeks I’ve been with the team, it has only solidified my conviction for the long-term health of the business and brand.
Everything we are building has a real purpose and will help move the world of Web3 in many meaningful ways.
What are you guys doing differently?
We’re creating a metaverse and Web3 ecosystem that will truly provide function, utility and limitless opportunities for creators, consumers and businesses.
Not only are we building what will be the first ultra-realistic metaverse, we’re also building it to support multiple blockchains to further break down barriers of entry, create flexibility and deliver unparalleled opportunities for users.
In the coming months you’ll see us rolling out a number of new entertainment franchises, metaverse tools and NFT utilities. It’s a really exciting time!
How have marketing activities shifted as web3 adoption increases?
So much of the space has been built on hype, FOMO and big influencer endorsements.
This is great, but it’s only one piece of a marketing mix that will need to grow for the industry to scale.
We’re already seeing the shift and need to expand the channel mix to further build real communities and educate new adopters. In many ways there’s a level of Marketing 101 that will need to come into play for new projects and brands to cut through.
Everyone has such a short attention span and as the space crowds, everyone will be fighting for a piece of that attention.
What role have a cryptocurrency and web3 media organizations played in spreading the Metaverse gospel?
Media is critical in bringing mass awareness to the market.
There’s a huge need for education as the sector grows and traditional PR can really help with this.
How can web3 media organizations break the centralization mold that has pervaded other tech industries?
You’ll probably hear me say this over and over, but this exact topic is why I was so interested in moving into Web3. For years big tech has used creators and consumers for their own gain.
It’ll be controversial and challenging for big tech to play nicely in the Web3 environment.
In many ways they’ll be stripped of their roles as the data owners.
I’m excited for the media to give a voice back to the creators to spread this message.
Congratulations on your move to Looking Glass Labs! What did “it” do for you?
I’m truly honored to be here.
When I met the team I knew there was something different from the rest of the players in the space.
Everyone is chasing short term profits and wins, but the vision at LGL and HoK is much longer term.
What they’re building behind the scenes can actually change the world, which excites me most.
Please can you tell us how you intend to bring your experience from across a variety of industries to Metaverse marketing?
I have a well balanced set of skills that span tech, creator marketing and CPG.
Combined, these experiences set me up for speed and adaptability in a super fast changing market.
The metaverse will become a landscape combining all of these components and my experience will help HoK structure a narrative that fuses everything together.
Will bringing Metaverse ecosystems to the public be a walk in the park or do you have to become the next Ogilvy?
It will be no walk in the park, especially as more metaverse ecosystems come to life.
Many will function differently andhave their own specific value propositions which will require each platform to educate, build brand love and nurture their community.
Setting up a wallet and then loading it isn’t even a straightforward process, so imagine what it’ll be like for someone that doesn’t even know what Crypto is. We’ve got a long way to go.
How are unethical marketing practices preventing the mass adoption of cryptocurrencies and their underlying technologies?
We’re starting to see more and more money grab projects and rug pulls and these are now getting the attention of the feds.
This sort of press will create skepticism for many people that have not entered the space.
People want to put their hard earned money somewhere it can be safe, so I imagine as we see more fraud we’ll see more criticism and hesitation among the mass audience.
How can unethical marketing practices be prevented in the web3 industry?
There’s no one answer to this, but doxxing your team and driving constant transparency to the community is a start.
I hope other brands and NFT projects follow this practice.
It’s VERY easy to fall victim to fraudsters – they’re everywhere.
Find the projects that provide you the value you’re seeking, make sure you have belief in the team the same way you would a publicly traded company and be very cautious!
If it seems fishy, it is.
How do Hyper-realistic Metaverses differ from regular ones?
I don’t think there’s necessarily a “regular metaverse” as metaverse technology will continually evolve.
What HoK is doing differently is we’re building something very realistic in Unreal Engine, whereas the current land on the market isn’t doing this.
This adds a level of realism for the landowner which will help them truly bring anything to life within it.
Please can you tell us about your previous marketing experiences (with a few anecdotes)?
What comes to mind first is my early career with Red Bull. At the time – Red Bull was a marketing machine.
This is where I really learned how to bring a brand to life in the real world.
The brand and product was all about “giving wings to people and ideas” and we literally did that.
The first major Red Bull event I worked on was called Red Bull Flugtag 2008 in Portland, OR.
There were 80,000 spectators watching groups of people try to fly man/woman made flying machines off a 30ft barge into the water.
The longest flight and the most creative craft became the winner.
It not only represented their witty and self-mocking brand personality, but it also truly was about giving wings to people and their ideas.
What are the weakest links in the web3 marketing value that need to be corrected?
I’m seeing so much volatility in the market because of uncertainty of value and utility.
An NFT drops, sells out and the floor price instantly tanks.
Often the marketing stops with this as well.
I’d actually say one of the most important moments for the marketing is RIGHT at mint or directly after.
Build something that keeps your campaign moving after selling out, in an evergreen way.
It could be adding a new utility, a new partner or something never done before. Get creative and keep everyone engaged!
What inspired you to move from some of the world’s biggest brands to the Metaverse?
My goal is to use my experience to help move Web3 forward.
I had an amazing journey at all my past companies, but it was time for me to try my hand in building something brand new.
Web3 will continue to spread to many industries and being at the ground level, it felt like an inspiring challenge. I’m also here to learn.
There are so many different kinds of people to learn from in Web3.
All are welcome here!
How exactly does the decentralized web space give power to its content creators?
Data ownership will become a huge advantage for content creators.
For years now, creators have used their talent, passion and hard earned money to build followings on these big social and streaming platforms to then have to pay those platforms to access the audiences they’ve built themselves.
Big tech has taken advantage and capitalized on these creators to put money in their own investors’ pockets.
Web3 is giving creators the opportunity to completely turn that upside down.
What sparked your interest in the web3 space?
Let’s be honest – what grabbed my attention originally was hype and conversation.
Then I started seeing artists completely pivot their careers to Web3 so they could actually connect with their fans and do work on their terms.
I started doing my own research and became more and more fascinated with the innovation, ownership rights, security and so much more and my interest continues to grow daily.
Are there any marketing secrets you want to share with us or with the web3 community?
I’m an open book and will always share my “secrets”… as I’m likely already onto building my next one.
But for real, if we learn together we can all prosper.
What I’ll share is this:
As a consumer – don’t just fall into the hype and FOMO marketing. Start looking for the silent builders that are shaping the future. This is where you can find long-term success as an investor, a collector or a casual explorer.
As a business – build a real value proposition and always answer the question “why?”
You have to deeply understand what you’re offering to the world and how it differs from anything else out there.
What’s your take on the future of the web3 industry?
I think it’ll integrate into everything we know today.
Healthcare, real estate, law, commerce, etc. We’re only scratching the surface.
As the tech expands and barriers to entry come down at scale, it’ll all become second nature like the worlds of Web1 and Web2 did.
How do you think the web3 industry will change the world?
Flexibility and removing the third party will make the world move even faster.
The digital space will become far more vivid than what you experience today.