Along with the rise of blockchain technology and cryptocurrencies comes another unprecedented form of digital asset: Vatoms.
Short for virtual atoms, Vatoms are a form of digital good that straddles the physical and virtual realms. As the virtual experience becomes more dynamic, immersive, and interactive, it inches closer to bleeding seamlessly into the physical world. Vatoms, smart and unique digital objects, are poised to become the virtual currency that maps across both spaces. Vatoms function effortlessly in a digital space, but also hold real-world value and real-world impact.
Vatoms: An Introduction
Vatoms, or virtual atoms, are scarce digital goods of value that are unique, ownable, redeemable, and tradable across the virtual space. Built on blockchain technology, Vatoms are regarded as the next step in the evolution of digital asset classes.
Vatoms are virtual items found in the digital realm that come with all the traits of a virtual currency. But Vatoms additionally possess an intelligent set of original features. This new asset category has the potential to fundamentally change how businesses connect with their customers, and how people interact with other people in both the virtual space and the real world.
Here’s the big difference: People that go into the virtual world have been trading and selling virtual goods that are only valuable in that world. Virtual atoms are quite the opposite: they can be exchanged and traded in SpatialWeb environments for actual goods and services in the real world.
Each Vatom is unique and authenticatable and can be distributed via QR codes, by dropping them into digital maps, by finding them in SpatialWeb environments, or by discovering them in print or visual media.
When people acquire virtual atoms, whether through discovery, trade, or redemption, the object becomes owned and accessible via the user’s wallet/inventory. When a user sends Vatom to another user, or trades it for a digital/physical product, it disappears from the user’s wallet. Vatoms can only be in one place at one time.
Aside from blockchain, Vatoms incorporate other emerging technologies, all of which contribute to fueling the virtual economy: AR, VR, geolocation, AI, 5G connectivity, and gamification.
While created to enhance and elevate the virtual experience, these unique digital goods are designed to move seamlessly across non-virtual communication channels like SMS and emails. You don’t have to be in the virtual world to trade or interact with Vatoms. This capability effectively blurs the line between digital and physical.
Why Vatoms Matter
The Virtual Experience Economy is upon us. The union of digital and live events will become ubiquitous for gatherings of all types.
People and businesses are embracing virtual experiences. According to Statista, 49% of B2B marketers said they hosted between 20 to 30 virtual events in 2020 while 21% reported hosting over 30. People are demanding more immersive and dynamic virtual experiences. When the pandemic has passed, the new normal will remain. People have seen the power of advanced digital events and they will continue to crave them.
Enterprises have recognized this and thus are moving to establish their virtual presence. The significant surge of the global extended reality (XR) market value points to this trend. Back in 2018, XR spending by enterprises peaked at $27 billion. Today, that figure is expected to reach $393 billion by 2025.
And Vatoms will be at the front and center of this trend.
As the coming standard for digital goods in the virtual experience economy, virtual atoms have the potential to drive changes in multiple industries as the world gradually adopts a virtual goods economy.
What makes Vatoms really powerful as a business marketing and engagement tool is their incredible flexibility. At a moment’s notice, enterprises can take their Vatoms and deploy them to be anything they can imagine: a digital coupon, a free sample, ATL advertising, a treasure hunt, or anywhere else.
Because these virtual assets can’t be pirated and replicated, they provide users with real world value. From a business perspective, brands can utilize Vatoms to virtually engage millions of potential customers via one-to-one interactions and direct human contact.
What Can You Do with a Vatom?
Vatoms, when leveraged effectively and alongside XR services provider like The SpatialWeb, can quickly morph into extremely agile business tool that can be utilized for a range of purposes, such as delivering advertising campaigns straight to your target consumers wherever they are, or giving a new definition to couponing and sampling at events.
The SpatialWeb provides enterprises with totally dynamic and interactive XR environments that exude a new feeling of digital presence. With Vatoms, for instance, workers in SpatialWeb virtual offices can trade digital goods that they can exchange for real products and services. The virtual experience becomes more elevated.
Virtual atoms are so diverse and configurable that they bring a range of uses to business marketing and engagement strategies, both in the virtual and the real worlds:
- Connect with your ideal customers in real-time via hyper-targeting. Vatoms allow brands to deliver the right message to the right people at the right time. Enterprises can distribute Vatoms right down to their target customers’ location in real-time, wherever they may be, without using existing marketing channels to do so.
- Use bespoke virtual currencies to enhance loyalty programs. Brands can reward Vatoms as custom digital currency given exclusively to the most loyal, high-value customers. This improves lead generation and increases customer awareness as well.
- Elevate coupons, discounts, and vouchers to a higher level. Typically, companies blast their customers with marketing messages and content with little regard for interaction. Virtual atoms give customers real value by creating real-world opportunities through which customers can interact, engage, collect and share digital coupons and vouchers.
- Host value-added scavenger hunts. Branded virtual scavenger hunts aren’t new. But with Vatoms, these types of activities become more engaging and increasingly rewarding. Brands can play on their customers’ FOMO by creating exciting race courses, drops, and waypoints. These can be spread across cities, office blocks, or event locations and reward participants with branded Vatoms.
What Does the Near Future Hold for Vatoms?
As a new economy forms that marries the real world with virtual experience, Vatoms will be at the forefront of this transition.
With Vatoms, business enterprises can:
- Initiate and add value to ongoing conversations, safely and consistently across multiple channels.
- Allow consumers to fully participate and engage in an economy built on trust.
- Extend and strengthen consumer relationships through significant, meaningful, and timely experiences.
- Derive insights from robust analytics. Vatoms collect data and are extremely aware, ensuring information they gather provides users with a complete picture of their customers. Each Vatom can be tracked so you can find micro influencers who spread the word for your brand, and in turn you can reward them with real value.
As the future of the virtual economy appears on the horizon, companies have to be bold and make Vatoms and spatial environments a part of their initiative to help drive their brand forward.
Contact SpatialWeb to learn more about Vatoms.