Hivestack Launches Metaverse Stores Ad Research Arm

In Canada, digital out-of-home (DOOH) ad tech company Hivestack has launched a research division, which will explore in-store, programmatic media activation in the metaverse. Former Microsoft Research MD, P Anandan, has joined as a special advisor to the initiative.

Hivestack creates technology that powers the buy and sell-side of programmatic digital out-of-home advertising (DOOH). According to a recent eMarketer report, there is a trend among big-box retailers to develop metaverse equivalents of their physical venues. When these stores launch, consumers will be able to wear VR headsets and have their avatar counterparts walk down aisles for a more immersive shopping experience. In addition, metaverse stores will enable marketers to connect with consumers - in particular, their avatars, at the point-of-purchase - on virtual in-store walls, and even virtual in-store audio advertising.

Anandan (pictured), who is now consultant to the Bill & Melinda Gates foundation, will act as an advisor to the new division, saying he is looking forward to helping Hivestack grow a research team that will address these 'new frontiers' in ad tech. Commenting on the new direction of avatar-based OOH advertising, he said that challenges will include identifying how to translate avatar identity from a one-to-one metaverse world, to the actual one-to-many physical world; along with how marketers measure the efficacy of these cross-universe media activations. In addition, the division will examine how physical world behavior drives media activation in the metaverse, and analyze how media payments will be made to metaverse retailers.

Andreas Soupliotis, founder & CEO of Hivestack, stated: 'With the launch of our research division, we are prototyping how ad tech can be used to programmatically activate ad opportunities in virtual retail stores in the metaverse. Much of Hivestack's full-stack technology for digital out-of-home activation and monetization applies to retail metaverse advertising, but some important computer science gaps remain to be addressed. We launched this initiative to formulate the needed technology to make programmatic DOOH a success in the meta as well as the physical world.'

Web site: www.hivestack.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.