Samsung invests $35 million into its Latin American metaverse initiatives
In Brief
Samsung plans to spend more than $35 million on metaverse projects in Latin America.
The initiative is a part of Samsung’s marketing strategy as the company aims to reach younger consumers and connect with them.
Samsung is investing more than $35 million into Latin America’s metaverse initiative. The Korean electronics giant is embracing the metaverse as a part of its digital drive and marketing strategy to attract younger audiences.
Anita Caerols, marketing director of Samsung Electronics Chile, said that the metaverse is part of the future of marketing as it’s an extension of social media platforms.
Samsung believes that an organic commitment to society will play a key role in consolidating the marketing strategies of big firms, knowing where to seek value, and satisfying customer needs and desires.
For digital natives such as Gen Z and Gen Alpha, the metaverse is one more way to interact with others. Through the virtual world, Samsung aims to get closer and connect with its audience.
However, the press release by Samsung Latam examined data from gaming platforms more than from the actual metaverse. The company backed up its decision by giving an example from a study published on LinkedIn, which says that metaverse platforms have around 400 million monthly active users, of whom 51% are 13 years old or younger. The study was largely based on Roblox, Fortnite, and Minecraft and not on the most common decentralized metaverse platforms, such as Decentraland and The Sandbox.
In October, Samsung Latam launched a virtual space dubbed House of SAM in Decentraland. The project allows users to experience Samsung products, play mini-games, and unlock rewards. Samsung has its own digital influencer—an avatar called SAM—to focus on brand and event innovation. Samsung also has an island in Fortnite titled the Samsung Smart City.
Read more related news:
Disclaimer
In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.
About The Author
Agne is a journalist who covers the latest trends and developments in the metaverse, AI, and Web3 industries for the Metaverse Post. Her passion for storytelling has led her to conduct numerous interviews with experts in these fields, always seeking to uncover exciting and engaging stories. Agne holds a Bachelor’s degree in literature and has an extensive background in writing about a wide range of topics including travel, art, and culture. She has also volunteered as an editor for the animal rights organization, where she helped raise awareness about animal welfare issues. Contact her on agnec@mpost.io.
More articles
Agne is a journalist who covers the latest trends and developments in the metaverse, AI, and Web3 industries for the Metaverse Post. Her passion for storytelling has led her to conduct numerous interviews with experts in these fields, always seeking to uncover exciting and engaging stories. Agne holds a Bachelor’s degree in literature and has an extensive background in writing about a wide range of topics including travel, art, and culture. She has also volunteered as an editor for the animal rights organization, where she helped raise awareness about animal welfare issues. Contact her on agnec@mpost.io.
