Samsung Investing $35 Million In Metaverse Initiatives In Latam

The South Korean electronics giant, Samsung has disclosed that it has currently invested over $35 million in initiatives related to metaverse for the audience in the Latin American markets.

The purpose of the move is to help the behemoth company in attracting a younger audience and connect with them, which is a part of Samsung’s digital growth marketing strategy.

Metaverse push

Metaverse has become an essential element of the market strategy of businesses these days, due to which many companies have begun to incorporate their brands and products in it.

This has also prompted one of the biggest tech companies in the world, Samsung, to also take an interest in this space.

Therefore, it has decided to make an investment in metaverse initiatives targeting Latam clients worth $35 million.

Anita Caerols Samsung Electronics’ director of corporate citizenship and marketing in Chile, published an article on December 20th.

She shed some light on the motivations that resulted in this virtual reality investment by the company. She elaborated that Samsung views it as a way of connecting with the younger audience in a concrete manner.

Hence, the company has decided to invest $35 million in such initiatives that would be spread all across Latam.

The future

In addition, Caerols also added that such fully immersive platforms will eventually be the future of marketing.

She also added that the existing metaverse is just an extension of the social media networks for most digital users and it is a must for Samsung to take an interest in it.

The company presented its marketing vision as the reason behind its focus on the metaverse and the funds that are being allocated for it.

Caerols said that any business that is interested in connecting with and reaching out to a younger audience, including existing and potential customers, and engaging with influencers, would have to give attention to the metaverse and it is the correct time to do so.

Younger audience

These platforms are more popular amongst Gen Alpha and Gen Z audiences and these are precisely whom Samsung wants to target for attracting them to its brand and products.

A LinkedIn study revealed that there are currently 400 million users on various metaverse platforms in a month and 51% of these users are under the age of 13.

It should be noted that Samsung has not recently developed an interest in the virtual world because it had made some similar moves previously for becoming a part of some of the metaverse platforms.

The company introduced its ‘House of Sam’ experience back in October on Decentraland, which allowed the users to interact with the products of the company virtually.

Moreover, another metaverse experience had been launched by the company back in July and this one was named ‘Space Tycoon’.

It had been rolled out on Roblox and enabled users to become part of a space station where they can use Samsung products for building with raw materials.