The titan of the Korean electronics industry, Samsung, has disclosed that it is now spending over $35 million on a metaverse project aimed at the Latin American audience. The goal of this move is intended to assist the brand in attracting and connecting with younger consumers as a part of its digital push and growth marketing plan. 

The Latin American Metaverse push by Samsung

The metaverse has become a popular place for businesses to sell their goods and brands because they see it as an essential component of their overall marketing plan. One of the largest electronics corporations in the world, Samsung, recently disclosed that it will spend more than $35 million on projects involving the metaverse that are aimed at Latin America clients. 

Anita Caerols, head of marketing and corporate citizenship at Samsung Electronics Chile, describes the company’s reasons for pursuing virtual reality in an article that was released on December 20. In her words: 

“At Samsung we believe that the metaverse is a concrete commitment to connect with young consumers. That is why we are investing more than US$35 million in initiatives that cover all of Latin America.”

Additionally, Caerols feels that fully immersive platforms will play a significant role in marketing in the future and that the current metaverse is a logical extension of social media platforms for digital natives, making it a worthwhile area for the brand to research. 

Samsung’s inclusion of younger audiences

The marketing strategy outlined by the corporation justifies the emphasis brand is placing on the metaverse and the amount of money invested in this area. In response, Caerols clarified: 

“If a business needs to speak and connect with young audiences, prospect current and future potential consumers, and engage with new influencers, it is imperative that it be in the metaverse starting now.”

The Korea brand hopes to draw in its audiences from the Generation Z and Generation Alpha, who are much more acclimated to using these platforms, with its proposal and its goods. A Linkedin survey discovered that 400 million people visit metaverse sites each month, with 51% of them being 13 years old or younger.

Brand’s interest in the virtual world

Samsung has always been interested in the virtual world hence this isn’t new, and the corporation has previously taken a number of actions to join several metaverse platforms. 

Just like the “House of Sam” experience that the company introduced in Decentraland on the 1st of October. Now the Decentraland metaverse now includes a virtual environment dubbed “House of SAM” that belongs to the brand’s Latin American business. It is the digital guru for Samsung and the metaverse’s SmartThings experience

This allows users to virtually interact with Samsung goods and products like the Freestyle portable projector, in the House of SAM. Avatar wearables can be unlocked as prizes in Decentraland’s mini games, which are also accessible. 

The Korean giant also introduced “Space Tycoon”, a new metaverse game on Roblox, in July. This game lets players join a space station where they can use raw materials to construct Samsung products. The business also introduced Smart City Island in the well-known Fortnite battle royale game in August. 

For its customers, Samsung has developed wallets that let them buy NFTs using Samsung Smart TVs, including wallets for Bitcoin and other Cryptocurrencies. In order to allow customers to purchase goods using virtual currency inside the virtual world, the business created an official Samsung store in Decentraland in January.

In terms of other Web3 collaborations, Samsung and Theta Labs released an NFT campaign in August that included 100,000 utility NFTs for the brand’s consumers.