Venturing into the metaverse: lessons learned from companies exploring virtual worlds for branding purposes

The “metaverse”—envisaged as an expansive, fully interoperable network of 3D virtual worlds—remains a distant prospect with a certain degree of conceptual and technological ambiguity. Nevertheless, an increasing number of firms are investigating the potential of the metaverse as a platform for brand engagement and sales opportunities. This study examines how 16 large international corporations spanning various industries integrate the metaverse into their branding strategies. The multiple case study identified four approaches to metaverse integration, with varying degrees of success and strategic alignment. The findings contribute to the emerging literature on metaverse marketing, offering insight into brand engagement, strategic alignment, and organizational learning processes. From a managerial perspective, this study serves as a guide for leveraging the metaverse for branding. It emphasizes the importance of balancing exploration and exploitation to drive successful initiatives. The implications and limitations of the study are discussed, along with suggestions for future research.