The Metaverse Advertising Ecosystem
The virtual world platforms provide their token holders' ownership of virtual space which they can use to build a house, business, run events, etc. Metaverses also provide a marketplace to trade & manage non-fungible assets (NFTs) as collectibles. The virtual events and/or businesses can thus target the sale & purchase of such collectibles through exchange of NFTs in the metaverse.
The Virtual Event
The virtual event can either be a billboard, waerable, game, sports event, a party, music concert, a fashion show or any other event with virtual attendees. The virtual event has a sizable attendance driven by the demand for the event and hence various advertisers will be interested in the event.
Cros Ad Bidding Platform
A programatic combinatorial bidding platform for limited allocation of NFTs. In The bidding is by potential advertisers for virtual assets tied to the virtual event (like billboards, wearables) and hence the supply of such assets is constrained spatially & temporally to the event in a metaverse.
The owner of the ad inventory where advertisers can place their ads. The publisher can represent the individual or the company whose aim is to serve the ad impression to the target visitor, providing the traffic to the advertiser who paid for it.
An individual or business with a presence in the real world and/or the MetaVerse. The Advertiser can be selling services and/or goods under its brand and would like to advertise in the space owned by the publisher. It hopes to attract virtual attendees to its pavilion/shop in the metaverse where they can either buy virtual goods or collect coupons/offers to buy goods from physical stores.
A crypto exchange providing the onramp & offramp services to businesses and retail communities participating in the value chain whereby they can exchange & reserve fiat and crypto assets based on their needs.
Before the Event
Publisher decides to run a virtual event in metaverse-A and publishes the details of the event with a process outlined for would-be advertiser. The business designs the non-fungible assets & their limited supply (available for sponsors & event attendees) and shares that structure with the NFT Bidding platform.
Publisher plans to host a virtual event in the metaverse A and Advertiser is interested in sponsoring the event. After passing the KYB process, the sponsor reserves the bid amount (using crypto exchange to onramp crypto assets against the fiat) and submits its bid for sponsorship.
Reserve Crypto against Fiat for the submitted Bid (Advertiser, Publisher). Disburse Crypto against Fiat for the Approved Bid (Advertiser, Publisher).
Cros Bidding Platform
Define NFT allocation & price configuration for the bidding.
Bidding process between advertisers.
During and after the Event
The publisher holds the virtual event in the metaverse with the sponsored virtual estate/goods/wearables displayed in the venue or by the virtual attendees. The Sponsor Shop/Pavilion is displayed in the venue or by the virtual attendees. The Publisher captures all the event sponsorship metrics and uses that to reconcile any payment dues based on sponsorship terms & terms.
During the event, the advertiser company received the virtual attendees in its virtual pavilion/shop in metaverse A. The virtual shoppers can transact for virtual goods or collect offers to be redeemed in physical stores of the advertiser. After the event completion, based on the event metrics collected (no. of visits etc.) the advertiser receives an updated invoice and works with the crypto exchange to transfer the required amount from fiat to crypto tokens as required.