Samsung invests over $35 million in Metaverse initiatives focused on Latam

Samsung, the Korean electronics giant, has revealed that it is currently investing over $35 million in metaverse initiatives for the Latin American audience. The goal of the initiative is to help the brand attract and connect with a younger audience as part of its digital marketing and growth strategy.

Samsung’s metaverse push in Latin America

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

In an article published on December 20, Anita Caerols, director of marketing and corporate citizenship at Samsung Electronics Chile, explained the motivation 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’s why we are investing more than US$35 million in initiatives that span Latam.

In addition, Anita Caerols believes that fully immersive platforms are part of the future of marketing, and for digital natives, today’s metaverse is a natural extension of social media platforms, making it a smart area for Samsung to explore.

Younger audiences in scope

Samsung’s emphasis on the metaverse, and the amount of money invested in this area, is justified by the marketing vision presented by the company. In this regard, Caerols explained:

If a company needs to talk to and connect with young audiences, prospect current and future potential consumers, and engage with new influencers, it is imperative that they are in the metaverse now.

Generation Z and Generation Alpha, audiences more accustomed to these platforms, are the ones Samsung wants to attract to its proposition and products. According to a Linkedin study, 400 million users currently linger on metaverse platforms each month, 51% of whom are 13 years old or younger.

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

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

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