The leading global ad tech firm, Hivestack, has set up a new research division to focus on facilitating out-of-home (DOOH) advertising for the retail sector within the metaverse.
Hivestack’s platforms power both the buy and sell-side of programmatic digital out-of-home (DOOH) advertising. Marketers can use its Demand Side Platform (DSP) to create measurable campaigns that activate DOOH screens in real-time, drawing insights from consumer behavior and audience movement patterns. Media owners use the Supply Side Platform (SSP) and Ad Exchange to attract programmatic revenue.
The company’s new division will be spearheaded by former Microsoft Research Managing Director P. Anandan. He will also act as a special advisor to propel the initiative forward. The division aims to capitalize on opportunities arising with the development and the rising popularity of the metaverse and enable retailers to set up their digital stores.
The company stated in a release that the rise in metaverse stores would eventually lead to new advertising opportunities for marketers within several elements, such as in-store walls and virtual digital endcaps.
Andreas Soupliotis, Hivestack’s Founder and CEO, further explained that the initiative’s primary goal is to develop the technology required to make programmatic DOOH a success within the metaverse.
“With the launch of our research division, we are prototyping how ad tech can be used to programmatically activate ad opportunities in virtual retail stores in the metaverse,” Soupliotis said.
The latest advancements in creating more comprehensive virtual environments have led to several critical innovations across industries. For instance, consumers are now shopping using virtual reality while sitting in their living room as their avatars browse through virtual malls.
Most of Hivestack’s full-stack technology for digital out-of-home activation and monetization will integrate with retail metaverse advertising. However, the company still needs to fill some gaps on the tech side to make its service seamless.
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