Samsung Is Investing More Than $35 Million in Latam-Focused Metaverse Initiatives

Samsung, the Korean electronics behemoth, has revealed it is currently investing more than $35 million dollars in metaverse initiatives for the Latam audience. The objective behind this move is to help the brand attract and connect with younger audiences, as part of its digital push and growth marketing strategy.

Many companies have started to put their products and their brands in the metaverse, considering it an important part of their marketing strategy. Samsung, one of the biggest electronics companies in the world, has recently revealed it is investing more than $35 million in metaverse initiatives directed at Latam customers.

In an article published on Dec. 20, Anita Caerols, director of marketing and corporate citizenship of Samsung Electronics Chile, explains the motivations behind this virtual reality push for the company. She stated:

At Samsung we believe that the metaverse is a concrete commitment to connect with young consumers. That is why we are investing more than US$35 million in initiatives that cover all of Latam.

Furthermore, Caerols believes that fully immersive platforms are part of the future of marketing and that for digital natives, the current metaverse is a natural extension of social media platforms, making it a sensible field for Samsung to explore.

The focus Samsung is putting on the metaverse, and the amount of funds invested in this area, are justified by the marketing vision presented by the company. On this, Caerols explained:

If a business needs to speak and connect with young audiences, prospect current and future potential consumers, and engage with new influencers, it is imperative that it be in the metaverse starting now.

It is Gen Z and Gen Alpha, audiences that are more accustomed to these platforms, which are the ones Samsung wants to attract to its proposal and its products. According to a Linkedin study, 400 million users are currently dwelling on metaverse platforms every month, with 51% of them being 13 years old or less.

Samsung’s interest in the virtual world is not new, and the company has already made different moves in order to be a part of some metaverse platforms.

In October, the company launched its “House of Sam” experience in Decentraland, allowing users to interact virtually with products of the company.

In July, Samsung also launched another metaverse experience on Roblox, called “Space Tycoon,” allowing users to be part of a space station where they can build Samsung products with raw materials.

What do you think about Samsung’s investments in Latam metaverse initiatives? Tell us in the comments section below.