By: Lucy Spratlin
It can be tempting to dismiss any new technology or platform as a fad or just relevant to a small group of tech-obsessed early adopters…from Friendster to MySpace to FaceBook to Meta. At For Momentum, we believe it’s worthwhile to keep up with tech trends, watch where they go and consider what they might be able to do for cause partnerships. In this final part of our NFT series, we zoom out to the larger metaverse, a 3-D version of the internet with strong social components.
Major enterprises like Meta, Disney and Warner Brothers embraced the metaverse early on. An Accenture survey found that 71% of respondents say the metaverse will have a positive business impact, and 42% say it will be “breakthrough” or “transformational.” JP Morgan estimates that the metaverse will have an impact on almost every business sector and result in more than $1 trillion in annual revenues.
All this activity makes the metaverse worth a closer look. Check out a few examples of how nonprofit partnerships are diving in.
As part of its 10th anniversary celebration, charity: water set up 16 virtual reality (VR) stations in a busy tourist section of Manhattan for one month. Every time a passerby donned a VR headset to experience what it’s like for a young girl in Ethiopia to get clean water for the first time, a $30 donation was unlocked.
Accessibility and inclusion
Paralympian Blake Leeper and hip-hop star Fat Joe partnered with Degree deodorant to create the first Metathon, where people can compete in a virtual marathon as avatars that reflect their disabilities with wheelchairs, prosthesis or running blades. The course includes wheelchair ramps and other accessible architecture, as well as audio cues for those with low vision. The experience aims to raise awareness of bringing accessibility and inclusivity to the metaverse.
Massive interactive live events (MILEs)
Entertainers such as Lil Nas X and Travis Scott have successfully staged massive concerts in virtual space. With the pandemic’s ongoing impact to large, in-person events, virtual events have strong appeal for audiences craving interaction and excitement without the risk of large crowds.
For Macy’s 95th Thanksgiving Day Parade, they created 9,510 NFTs of classic floats that people could buy at auction. This included 10 unique “epic” NFTs with 100% of proceeds going to Make-A-Wish. The campaign not only raised more than $250,000 for Make-A-Wish through the auction, with additional funds raised as the NFTs are sold over time, but also garnered over 600 million media impressions.