{"id":3146,"date":"2022-07-11T01:04:18","date_gmt":"2022-07-11T05:04:18","guid":{"rendered":"https:\/\/advertisingweek.com\/aw360\/2022\/07\/11\/how-to-get-unstuck-in-the-era-of-the-metaverse-crypto-and-nfts\/"},"modified":"2022-07-11T01:04:18","modified_gmt":"2022-07-11T05:04:18","slug":"how-to-get-unstuck-in-the-era-of-the-metaverse-crypto-and-nfts","status":"publish","type":"post","link":"https:\/\/advertisingweek.com\/aw360\/news\/how-to-get-unstuck-in-the-era-of-the-metaverse-crypto-and-nfts\/3146\/","title":{"rendered":"How to Get Unstuck in the Era of the Metaverse, Crypto and NFTs"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><em>By Tom Gray, Chief Strategy Officer, Imagination<\/em><\/p>\n\n\n\n\n\n<p class=\"wp-block-paragraph\">There is so much going on with new technologies in marketing and creative industries at the moment that it can often feel overwhelming \u2013 Metaverse, crypto, NFTs, Web3, AI \u2013 if it\u2019s not an <a href=\"https:\/\/hmgroup.com\/our-stories\/a-virtual-reality-at-hm-group\/\">H&#038;M virtual showroom in the metaverse<\/a>, it\u2019s <a href=\"https:\/\/techcrunch.com\/2022\/05\/16\/spotify-new-feature-artists-promote-nfts\" aria-label=\"spotify creating tools for artists to experiment with NFTs, click to read on tech crunch site\">Spotify creating tools for artists to experiment with NFTs<\/a>.<\/p>\n\n\n\n\n\n\n\n<p class=\"wp-block-paragraph\">Sure, we&#8217;re living in exciting times but sometimes it can create paralysis \u2013 lots of links to share, lots of opportunities to look smart, lots of &#8216;we should have done that&#8217; moments of regret.<\/p>\n\n\n\n\n\n\n\n<p class=\"wp-block-paragraph\">There\u2019s also the downside risk too \u2013no one wants to invest hundreds of thousands in vanity projects that are ultimately empty \u2013 the emerging data on <a href=\"https:\/\/nwn.blogs.com\/nwn\/2022\/06\/blockchain-metaverse-platforms-active-users-count-decentraland-sandbox-1.html\" aria-label=\"engagement levels in metaverse platforms like Sandbox and Decentraland is far from convincing, click to read on nwn blogs site\">engagement levels in metaverse platforms like Sandbox and Decentraland is far from convincing<\/a>.<\/p>\n\n\n\n\n\n\n\n<p class=\"wp-block-paragraph\">The challenge for marketers is to shift out of sharing and showboating &#8216;what if&#8217; mode and find smart hacks to get real quickly, to determine what&#8217;s useful and what&#8217;s not for their brand and business \u2013 and get the most out of that process.<\/p>\n\n\n\n\n\n\n\n<p class=\"wp-block-paragraph\">The secret lies in harnessing two things: the right kind of curiosity and an experimentation mindset.<\/p>\n\n\n\n\n\n\n\n<p class=\"wp-block-paragraph\">The first step is to shift from \u2018lean back\u2019 curiosity to more purposeful, &#8216;lean in&#8217; curiosity, that moves from passive \u201cI found this\u201d to active \u201c&#8230;and here\u2019s what I think it means for us\u201d.<\/p>\n\n\n\n\n\n\n\n<p class=\"wp-block-paragraph\">To get unstuck we should take a lesson from startups. Successful start-ups are natural-born curiosity and experimentation machines. In part, because being small they are freed from the bureaucratic, logistical and reputational shackles of big businesses; and, in part, because they have very real constraints on time and budget. It\u2019s called runway and burn rate for a reason \u2014 if you\u2019re not airborne by the time you reach the end, it\u2019s terminal!<\/p>\n\n\n\n\n\n<p class=\"wp-block-paragraph\"><strong>1. Find your focus <\/strong>\u2013 <strong>home in on where the value might be for<\/p>\n\n\n\n\n<u>your<\/u>\n<p class=\"wp-block-paragraph\">brand<\/strong><\/p>\n\n\n\n\n\n<p class=\"wp-block-paragraph\">Your first goal here is to get the seed of a unique idea \u2013 make the flip from what you\u2019ve seen out there, to what\u2019s useful and possible for you. A great shortcut here is to use <a href=\"https:\/\/www.investopedia.com\/terms\/f\/four-ps.asp\" aria-label=\"the 4ps of marketing, click to read on investopedia site\">the 4Ps of marketing<\/a><\/p>\n\n\n\n\n<u>. <\/u>\n<p class=\"wp-block-paragraph\"><strong>2. Use experiments to increase your speed of learning<\/strong><\/p>\n\n\n\n\n\n<p class=\"wp-block-paragraph\">With an idea of where the value might be, think about the key assumptions that must be true for it to be right for your brand. Perhaps it\u2019s about a customer need or a trigger that will result in new customer action.<\/p>\n\n\n\n\n\n\n\n<p class=\"wp-block-paragraph\">In the world of start-ups, great experiments are simple enough to prove\/disprove your assumptions at the highest pace, enabling you to quickly move on or iterate. But there\u2019s another side to experiments for bigger organisations and established brands: they can help to increase learning inside the business, helping more people to understand the workings and potential of new technology and what it takes to really unlock it. To get the most from this learning, you\u2019ll need to move from simple experiments to a prototype.<\/p>\n\n\n\n\n\n<p class=\"wp-block-paragraph\"><strong>3. Build a prototype to increase momentum<\/strong><\/p>\n\n\n\n\n\n<p class=\"wp-block-paragraph\">The key to a successful prototype is the speed of learning \u2014 this is not about building a fully-baked product but rather doing enough to validate your hunches about what the technology might do, and lay the groundwork for a bigger play. Successful prototypes become the story that your team can tell inside the organisation to increase confidence and unlock further investment. And at the right fidelity, you can take that story outside too, creating a PR halo for the brand.<\/p>\n\n\n\n\n\n\n\n<p class=\"wp-block-paragraph\">We\u2019ve worked with clients designing our experimentation and prototyping sprints around these principles. It\u2019s not only helped us to develop some rapid proof points for our clients, but we\u2019ve also found it makes our teams more curious, more creative and more motivated too.<\/p>\n\n\n\n\n\n<p class=\"wp-block-paragraph\"><strong>About the Author<\/strong><\/p>\n\n\n\n\n\n<p class=\"wp-block-paragraph\"><em>Tom Gray is Chief Strategy Officer at Imagination and an Associate of the Business Design Studio at Imperial College Business School.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The challenge for marketers is to shift out of sharing and showboating &#8216;what if&#8217; mode and find smart hacks to get real quickly, to determine what&#8217;s useful and what&#8217;s not for their brand and business \u2013 and get the most out of that process.<\/p>\n","protected":false},"author":7,"featured_media":3147,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","editor_notices":[],"footnotes":""},"categories":[1],"tags":[6],"topics":[2],"class_list":["post-3146","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-tech","topics-editorial"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>How to Get Unstuck in the Era of the Metaverse, Crypto and NFTs | AW360<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/advertisingweek.com\/aw360\/news\/how-to-get-unstuck-in-the-era-of-the-metaverse-crypto-and-nfts\/3146\/\" \/>\n<meta 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