Samsung Invests Over $35M In Latin America-focused Metaverse Initiatives

The Samsung Latam Investment of over $35 million marks an important moment in Web3. What’s more, the South Korean tech behemoth is strategically betting on the metaverse as the meeting place of the future. Therefore, it wants a strong position in Latin America and this is meant to help Samsung reach younger customers.

An animated figure stands in the metaverse in support of Samsung Latin America.
Samsung has invested over $35 million in Latam Metaverse initiatives. Credit: Trustnodes.

What Is The Samsung Latin America Investment?

Samsung recently announced the $35 million initiative to invest in metaverse experiences aimed at the Latin American market. In doing so, the tech giant is going to pick up on some of the Web3 momentum in Latin America. For example, more than 10% of the population of Argentina currently uses cryptocurrency. Even more so, 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 driven by a company goal of reaching young people. Specifically, Generation Z and Generation Alpha are increasingly found on the platforms. There are over 400 million users across all platforms and 51% are thought to be 13 years or younger. The investment in the metaverse will allow the brand to reach its future customers early, shaping their perception of the brand for years to come.

An animated figure stands in front of the Samsung store in the metaverse.
The move will help Samsung reach future customers. Credit: Future.

What Else Is Samsung Building In The Metaverse?

Samsung has been busy integrating itself into the Web3 space. Back in October, the company unveiled House of SAM in Decentraland. Players have the ability to interact with Samsung products, play games, and unlock prizes. This amounts to a new channel for marketing in the metaverse, and Samsung seems ahead of the curve.

What is Samsung’s Smart City?

Additionally, Samsung opened up a metaverse experience for Fortnite in August of this year. The Smartcity features gameplay with Easter eggs and opportunities for players to interact with Samsung products while enjoying Fortnite. This is another way Samsung has expanded their metaverse marketing efforts to reach young consumers.

A visual mock-up of the Samsung metaverse store is presented in blue and purple colors.
Samsung continues to push into the metaverse with this latest investment. Credit: Samsung.

What About Samsung’s Space Tycoon?

This year has been an impressive one for Samsung, as they also unveiled their Space Tycoon metaverse experience for Roblox. Players are able to extract resources and use them to craft Samsung products. Moreover, players can be creative and turn their favorite products into something totally unexpected.

What Is Next For The Metaverse?

Samsung is bringing institutional backing to metaverse projects that focus on Latin America. The impetus for the move is to reach future customers, whom the brand wants to engage with before purchasing. Moreover, it’s a bold plan to go into the metaverse and create the future of immersive marketing that many are desiring.

This is a strong indicator to watch.

Source NFT Plazas

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