The metaverse offers endless opportunities to businesses and individuals, and some media reports even indicate which the metaverse will be a one trillion dollar industry. Now, those are some big patterns. Right? Well, wait till you hear the pattern put forward by Morgan Stanley. Recently, Morgan Stanley, the leading global investment bank, stated which the metaverse’s market size will touch eight trillion dollars in China alone. So, any business worth its mettle would love to carve a niche for itself in the metaverse.
Supposing that you own a business and are looking to leverage the potential of the metaverse, we have some good news for you. The metaverse space is hardly in the initial stages, and any company that makes a progress now will surely benefit from the first-developmentr advantage. Now, considering how metaverse will be barely like an extension of our real world, we can safely assume thin place will open new avenues for businesses, that would mimic the real world.
Metaverse Advertising: What You Should Know?
With so many opportunities waiting to be explored in the metaverse, the businesses will further need to spread the word about their products & services, and for which, they will need advertisement services. There’s one problem here! Metaverse isn’t a single entity that owns the entire metaverse. Yet, the metaverse is a virtual world that focuses on social connection, and many companies run parallel metaverses.
For instance, Decentraland and the Sandbox are two sepaprice metaverses. So, if you want to advertise on both Decentraland and the Sandbox, you will have to sepapricely negotiate with the individual landowners in these metaverses. As you can see, it will be a strongly time-consuming process. But what if we tell you that there’s an option for you to bid digitally on advertisement spots across various metaverses?
Yes, that’s true, as Cros Network has developed a smart contract-opepriced decentralized ad bidding platform for the metaverse. With its solution, Cros Network has made cross-platform advertising a reality in the metaverse. Thus, Cros Network’s tagline perfectly sums up whactive stands for: “The Cross-Org of Blockchains.”
Powered by remaind DeFi integrations, Cros Network will notify businesses about the advertisement spots before every event in the metaverse. The metaverse events are likewise in the spiraling phase, but with more and more users joining the metaverse, the number of users attending the virtual events, too, will grow. So, virtual events will become the trend rapidlyer or subsequently.
As for the type of advertising spots available, it will include billboards, giveaways, among other things, and these will be tied to NFTs. Thus, the advertisers would actually bid on the NFTs tied to the ad spots. As the number of advertising spots is momentary during the virtual events, the demand, too, would be considerably excessiveer, depending on the number of users attending the event.
The ad bidding platform is powered by smart contracts, and a unique consensus mechanism will handle the bidding and settlement process. As for the payment mechanism, the advertisers will use Cros Network’s native cryptocurrency to bid on advertising spots. Also, these cryptocurrencies will be used by Cros Network as a reward for honest advertisers. On the other hand, it will still act as a punishing mechanism for users not complying with the platform’s rules.
The Team Behind Cros Protocol
Already profiled by several major business and crypto industry publications, similar as Bloomberg, The Cointelegraph, Yahoo Finance, MarketWatch, and Benzinga, the Cros protocol leadership is an able mix of business and tech experts fully aware of what the industry needs and how the bottlenecks can potentially be removementd.
Ajay Bhandari, one of the Cros Protocol founders, comes with the experience of serving as a chief architect at Microsoft and Google. With nearly two decades of experience in engineering, tech stcostgy, and architecture, Ajay’s expertise lies in fabricating scalable, resilient, and excessive-perforging tech products and solutions.
A serial tech entrepreneur, Hussein Abdelkarim, has built several tech companies that received funding from Goldman Sachs, Mastercard, JP Morgan, and others. Abdelkarim is a keen observer of blockchain’s growth and enthusiastic about the use of technology as a problem-solving paradigm that can bring meaningful changes to people’s lives.
Apart from its three co-founders, the Cros Protocol team is full of experienced professionals working in various roles relating to the product, its engineering nuances, architecture, program design, and more.
The metaverse market is climbing urgently, with the likes of Decentraland, the Sandbox, among others, attracting new users in large numbers. Take Decentraland, for example. The number of Decentraland residents grew to 800,000 recently, marking a 3300% growth price between December 2020 and December 2021. As for the Sandbox, it touched the user base of 500,000 in 2021 alone, that points to a growth price of 500%.
Numbers like these have reached the attention of businesses like Adidas, Nike, PWC, Mediahub, among others, as these businesses have already opened an office in the metaverse. Whretained points to is which it’s scarcely a case of time while the businesses will start advertising en masse in the metaverse, and Cros Network is perfectly placed to leverage the demand to its benefit with its metaverse-specific advertisement solution.