Banner billboards can earn owners money through advertising.
Immersive virtual world platform Somnium Space continues its march onward with the announcement of a partnership with Admix. A company looking to establish metaverse billboards as rentable ad space. Together, the two companies will be helping brands enter the metaverse while offering Somnium creators a brand new way to monetize their virtual land.
The NFT billboards launched a few weeks back during the first week of the Somnium Space Tertiary Land Offering (TLO, currently in its fourth week), with a grand total of 15 up for grabs, dropped in parcels of three. You’ll find the Admix x Somnium NFTs on OpenSea. During that first week the first small billboard went for 2.8 ETH ($13,000), whilst the medium one sold for 6 ETH (almost $26k). The XL billboard went for a whopping 15.75 ETH ($69,500).
Looking at the transactions on OpenSea and then looking inside the wallet of one of the new ad board owners using the DappRadar Portfolio Tracker, we see that one buyer scooped all three. Not that surprising when you see their Opensea handle is Meta_Landlord. Clearly this is a person with strong belief in virtual worlds and there potentially explosive future gains.
Aside from helping companies establish ad space in the metaverse, Admix is giving Somnium creators a way to secure a passive income by owning one of these ad boards. Obviously, as hype grows around virtual worlds, investors are keen to jump in early and secure a potential revenue generator. On top of this, Somnium Space has been conducting a land sale over the last three weeks which has already generated around $4.3 million, as players and investors scoop up newly launched worlds, and land plots.
Ads in the metaverse
Ad boards could be utilized to advertise events and happenings within the Somnium world. For example, DappRadar announced the launch of their new website and token from the now infamous Tron Disco Club on the 25th of November. A parcel owned and designed by Somnium Space CEO Artur Sychov. For big brands, virtual worlds like Somnium Space represent a huge opportunity. Moreover, they provide a glimpse into the future of brand advertising: a 3D world where brands are experienced just like they are in the real world. For creators and residents, Somnium Space is a perfect display of how creative abilities can and will translate to a new virtual economy that will make up Web 3.0.
It will be interesting to see which brands get involved. Already this year we have seen big fashion brands like Burberry and Adidas dive into NFTs. Whether the metaverse wants to simply emulate the real world is the big question. If yes, at what point will these ads become as annoying as in the real world? Time will tell. Either way, for now, it’s another earning opportunity emerging at the beginning of what is sure to be a long journey for the virtual world and metaverse platforms.
The above does not constitute investment advice. The information given here is purely for informational purposes only. Please exercise due diligence and do your research. The writer holds positions in ETH, BTC, NIOX, AGIX, MATIC, MANA, SAFEMOON, SDAO, CAKE, HEX, LINK, GRT, CRO, OMI, GO, SHIBA INU, AND OCEAN.