Social Media looking to cash in on the Metaverse

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Social Media looking to cash in on the Metaverse
21 Feb 2022
5 min read

News Synopsis

Metaverse is making its presence known to many everywhere with its valuation reaching trillions of dollars. After many tech giants, social media influencers are contributing to the growing virtual world. According to an online survey conducted by the influencer marketing platform, Izea, 56% majority of US social media influencers are participating in the metaverse.

Companies like Facebook and Microsoft are investing in preparing spaces to draw in virtual foot traffic and advertisers. Social Media holds the potential to drive more people to do different activities.

The survey also said that brands are leveraging influencers by hosting several virtual events or co-creating and promoting NFTs. Influencers are already making hundreds of thousands of dollars a year promoting brands on popular social platforms like Instagram. In all this, 51% of influencers are still considering ways to make money from metaverse, but only 21% said that they are making money from their virtual events.

TWN Special