1 minute read
BONDEE AND THE METAVERSE
Image Credits: Ah Boys To Men Facebook Page
Launched in mid-January 2023, Singapore-based social networking app, Bondee took the local community by storm with over 5 million downloads. The app was described as an “HDB simulation” that allows users to create their own avatar, decorate their own rooms, and visit their friends virtually. The app was mainly by many to design their avatars and saw reposts on Instagram stories. Unfortunately, despite its initial success, the app quickly died down amidst a credit-card scam scandal and users questioning its purpose. There was also no level of progression or follow-up, and the limiting functions eventually led to its decline very quickly.
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Marketers will always be confronted with decisions to make on whether and how to jump onto the next big thing: Web3, the metaverse, and an endless litany of shiny new platforms.
Three things to consider when doing so:
1) Who does the new platform allow them to reach? The brand’s existing target audience? Or a new segment it is trying to penetrate?
2) What is the brand’s role on this platform? What value is it hoping to get that it can’t get elsewhere, and what can it offer users that they can’t get from others?
3) Does the brand intend to trendjack interest on a shortterm basis, or invest in the platform on a long-term basis?
