- Tech companies are rushing to build the metaverse, an immersive version of the internet.
- For creators, the metaverse offers a variety of new opportunities to connect with fans and monetize.
- Here’s how internet users feel about the metaverse, according to a recent survey.
Since October, when Facebook rebranded to Meta and announced plans to build the “metaverse,” the concept has been the talk of the tech industry.
Besides Meta, other companies – such as Microsoft and Chinese tech giant Tencent – have been investing in creating their own metaverses, and even legacy companies like JPMorgan are getting in on it, with a recent report form the bank predicting that it will become a $1 trillion market opportunity.
The influencer-marketing firm IZEA set out to gauge how internet users — particularly content creators — feel about the metaverse. In late 2021, it surveyed about 1,000 people, asking them about their behavior and expectations around the metaverse.
The survey was split into two parts, “Influencing in the Metaverse” and “Influencing Crypto,” which digs deeper into how internet users see the role of cryptocurrencies and NFTs within the future of the web.
The sample included internet users in the US who were at least 18 years old. 62% of respondents said they were regular social media users, while 23% identified as “influencers” and 15% said they don’t use social media.
IZEA did not specify what it meant by “metaverse” in their questions, because the concept is still very nebulous, IZEA CEO Ted Murphy told Insider, and respondents could interpret it in their own way.
Here are 5 key takeaways of the surveys
56% of influencers say they currently participate in the metaverse.
Only 11% of regular social media users said they use the metaverse, as opposed to 56% of influencers.
IZEA’s CEO said he was “taken aback” by the how many influencers said they take part in the metaverse.
“That is what is so interesting, right?” he said. “That people have their own opinions of what that means, they want to be a part of it, and figure out what it’s going to mean for them.”
60% of influencers say they want to take part in the metaverse as “creators.”
It’s not surprising that creators are eager to join the metaverse. Being a creator in the metaverse, which allows for interactive and immersive experiences, opens new options for monetization.
Making money as a creator in the metaverse could mean a host of things, such as creating experiences that feature brands, wearing or using branded objects, hosting virtual events like concerts or parties, and co-creating and promoting NFTs, IZEA suggests in the survey.
90% of influencers support brand partnerships in virtual worlds.
“I think that it is still very early in terms of opportunities for influencers and brands spending the types of dollars [in the metaverse] that they’re spending on other platforms,” Murphy said.
Still brands have already understood the power that ads can have in the metaverse. Survey respondents said they had seen “metaverse” ads from Chipotle, Coca-Cola, Marvel, Nike, and Red Bull, among others.
“You’re really going to be talking about interactive experiences versus, ‘Hey, you know, here’s a picture of me drinking your soda’ or whatever it may be,” Murphy said.
49% would like to be paid in Bitcoin if they earned money in the metaverse.
Crypto is leading the way for preferred payment options in the metaverse. As well as Bitcoin, 9% of influencers said they’d like to be paid in Ethereum, and 5% would accept another cryptocurrency. Only 31% of influencers said they’d rather be paid in US dollars.
70% of influencers believe social media will be replaced by the metaverse.
While only 41% of regular social media users think the metaverse will replace social media, influencers are more confident.
But it may take at least a decade for this to become a reality, Murphy said. The first step toward this, he added, is making the tech more affordable, as VR headsets currently cost up to $800 dollars.
Survey respondents agreed: For those who don’t participate in the metaverse, the most common reason was that they are waiting for tech prices to go down.