Samsung Spends More Than $35M In Latin America For Metaverse Project

Key Points:

• Samsung spends $35 million on the Metaverse project in Latin America.
• Take action to reach younger customers.
• The tech company continues to push its investments into digital.

South Korean electronics giant Samsung revealed it is currently investing more than $35 million in the Metaverse project in Latin America. The move is aimed at helping the brand reach and connect with a younger audience as part of its digital-driven growth and marketing strategy.

Samsung, one of the world’s largest electronics companies, recently revealed that it is investing more than $35 million in customer-driven metaverse initiatives in the Latin American region.

“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.”

Anita Caerols, director of marketing and citizenship at Samsung Electronics Chile, said in a statement.

Furthermore, Caerols thinks that completely immersive platforms will play a significant role in marketing in the future and that the current metaverse is a logical extension of social media platforms for digital natives, making it a worthwhile area for this company to research.

The move is aimed at helping the brand reach and connect with a younger audience as part of its digital-driven growth and marketing strategy.

“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.”

Anita Caerols explained.

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.

In October, the company launched a “Sam’s House” experience in Decentraland, allowing users to virtual interact with the company’s products. In July, Samsung also launched another Metaverse experience on Roblox called “Space Tycoon”, which allows users to be part of a space station where they can create Samsung products out of raw materials.

Besides, the company is also increasingly promoting development to enhance its position in the field of blockchain-based technology. As an earlier update by Coincu News, the tech giant will launch the world’s first TVs that are tradable and display a non-fungible token (NFT) in the first half of 2023.

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