Macy’s is Holding a Virtual Thanksgiving Day Parade
Laura McQuarrie — November 22, 2022 — Tech
The Thanksgiving Day parade is an annual tradition that's evolving thanks to retailers like Macy's that are holding virtual Thanksgiving Day parades in the metaverse. This virtual parade will be the first of its kind to be held alongside the real event and it promises to entire a new generation of younger, digitally savvy consumers to the department store.
Macy's will be holding its Thanksgiving Day Parade on the OnCyber platform, complete with balloons from designs made available in the store’s NFT collection from the 2021 parade. Next year, designs will be turned into real-life balloons for the parade throughout New York City. This phygital event holds a lot of excitement and it can be accessed without the need for a log-in ID, a crypto wallet or a virtual reality headset.
Macy's will be holding its Thanksgiving Day Parade on the OnCyber platform, complete with balloons from designs made available in the store’s NFT collection from the 2021 parade. Next year, designs will be turned into real-life balloons for the parade throughout New York City. This phygital event holds a lot of excitement and it can be accessed without the need for a log-in ID, a crypto wallet or a virtual reality headset.
Trend Themes
1. Virtual Thanksgiving Parades - Virtual parades in the metaverse are becoming popular and are evolving to include unique experiences for a younger, digitals-savvy audience, providing opportunities for creative and innovative designs.
2. Phygital Events - The evolution of traditional events in the metaverse while incorporating physical experiences opens a new market for businesses, promoting innovation in creating hybrid experiences.
3. NFT Integration - The use of NFTs in virtual events can provide unique opportunities for businesses to monetize different aspects of the event and open a new market for NFT collectors.
Industry Implications
1. Retail - Retailers can create NFT collections for virtual events while optimizing sales by offering unique NFT collections to consumers, opening a new market for retailers.
2. Event Planning - Event planners can create hybrid events and expand their audience with digital experiences while offering unique value propositions to clients.
3. Art & Design - The integration of art and design in NFT collections for virtual events can provide opportunities for creatives and artists to showcase their work and penetrate a new market.
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