Samsung Pumps Over $35 Million Into Metaverse Initiatives Targeting Latam – Bitcoin News


Samsung, the South Korean electronics giant, has revealed that it has invested more than $35 million in metaverse initiatives to attract and connect younger audiences in Latin America as part of its digital growth strategy.

Samsung’s Push Into the Metaverse in Latam

Many corporations have begun to place their brands and products in the metaverse as part of their marketing strategy and Samsung, one of the world’s largest electronics companies, has recently announced that it has invested more than $35 million into metaverse initiatives. for Latin American customers.

Anita Caerols, Director of Marketing and Corporate Citizens of Samsung Electronics Chile, explained in a published article on December 20 why the company was turning to virtual reality. She said:

At Samsung, the metaverse is a concrete commitment that connects with young consumers. That is why we invest more than US$35 million in initiatives that encompass all aspects of the economy in Latin America.

Additionally, Caerols considers that these fully immersive platforms will be part of the future in marketing. Samsung is exploring them.

Engaging Younger Audiences

Samsung is focusing heavily on the metaverse and the amount invested in this area is justified by the company’s marketing vision. On this, Caerols explained:

If a business wants to be successful, it must be able to speak with and connect to younger audiences, as well as engaging with potential future consumers and new influencers.

These platforms are more familiar to Gen Z and Gen Alpha audiences, who are also the ones that use them most frequently. Samsung wants to draw attention to its product offerings and its proposition. According to a study, metaverse platforms have 400 million users per month, of whom 51% are 13 years old or younger.

Samsung’s interest in virtual worlds is not new. The company has made numerous moves to be part of metaverse platforms.

In October 1995, the company started its “House of Sam” experience in Decentraland. This allows users to interact virtually with the company’s products.

In July, Samsung launched another metaverse experience on Roblox called “Space Tycoon”. This allows users to participate in a space station where they can build products from Samsung from raw materials.

Tags in this story

Anita Caerols, Decentraland, gen alpha, Gen Z, house of Sam, Latam, LinkedIn, Metaverse, Roblox, SamsungSpace mogul, virtual reality

What do you think of Samsung’s investment in metaverse initiatives in Latin America? Please leave a comment below.

Sergio Goschenko

Sergio is a cryptocurrency journalist from Venezuela. He experienced the cryptosphere late, when the price spike happened in December 2017. With a computer engineering background and living in a country impacted by the rise of cryptocurrencies on a social level, he offers a unique perspective on the successes of cryptocurrency and how it helps the underbanked and unbanked.

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