Samsung Invests $35M In Latin America-Focused Metaverse Initiatives

Samsung Invests $35M In Latin America-Focused Metaverse Initiatives

The Samsung Latam Investment of more than $35 million marks a crucial moment in Web3. Furthermore, the South Korean tech giant is now strategically betting on the metaverse as the meeting place of the future. Thus, it wants to have a strong position in Latin America and this move is meant to enable Samsung to reach younger clients.

Samsung’s decision to invest at least $35 million in Latam Metaverse initiatives shows that it is convinced that the metaverse sector will take off in the coming years.

Samsung metaverse investment

What Is The Samsung Latin America Investment?

Samsung recently said that the $35 million initiative to invest in metaverse experiences is aimed at the Latin American market. In doing that, the tech behemoth is going to pick up some of the Web3 momenta in Latin America. For instance, over 10% of the population of Argentina now uses cryptocurrency. Furthermore, Samsung wants to reach young people across Latam.

What Is Samsung’s Interest In The Metaverse?

The push by Samsung to move into the metaverse is underpinned by a company goal of reaching young people. Particularly, Generation Z and Generation Alpha are majorly found on the platforms.

There are more than 400 million users on all platforms and 51% are believed to be 13 years or younger. The investment in the metaverse will enable the brand to reach its future clients early, shaping their perception of the brand for many years to come. Hence, Samsung will remain relevant in the long term.

What Else Is Samsung Building In The Metaverse?

The company has been busy incorporating itself into the Web3 space. In October 2022, the firm unleashed the House of SAM in Decentraland. Players can interact with Samsung products, play different games, and unlock prizes. This notably amounts to a new channel for marketing in the metaverse, and Samsung appears to be ahead of the curve.

What Is Samsung’s Smart City?

Moreover, Samsung opened up a metaverse experience for Fortnite in August 2022. The Smartcity consists of gameplay with Easter eggs and chances for gamers to interact with Samsung products while enjoying Fortnite. This is believed to be another strategy through which Samsung has expanded its metaverse marketing efforts. Thus, it can easily reach young consumers.

Experts believe that Samsung has seen potential in the nascent niche and is pushing into the metaverse with its latest investment.

What Is Samsung’s Space Tycoon?

The year has been quite impressive for Samsung since they also introduced their Space Tycoon metaverse experience for Roblox. Gamers can extract resources and use them to craft different Samsung products. Furthermore, gamers can be quite creative and turn their favorite products into something totally unexpected.

What Is Next For The Metaverse?

Samsung is believed to be introducing institutional investment to the metaverse projects that focus on Latin America. The impetus for this move is to reach perceived future customers, whom the brand wants to engage with before buying. Additionally, it is a strong plan to go into the metaverse and develop the future of immersive marketing that most are desiring.

Therefore, many analysts and commentators believe that this is a strong indicator to watch.

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