This past year myriad brands and businesses rushed to the metaverse, eager to ape in and get the best plots of land. As in the real world of real estate it’s all about location, location, location.
Thus, investors in the metaverse pay close attention to-location!
A universe of possibility
The metaverse is a universe of possibility, which is why so many people are enthralled by it. Although it isn’t fully realized, many businesses are already establishing themselves there in the hopes of making their mark in metaverse platforms with long-term reach and community investment.
The next frontier
Virtual real estate is the next frontier, but it’s important to understand who is already investing in the metaverse so you can decide if your own company would fit in there.
Companies of all sizes are beginning to establish themselves; these are just a few examples that may tell a larger story about where the metaverse is headed and who will lead the revolution.
1. Atari, Inc.
It should come as no surprise that one of the first pioneers in video games and home computing would be among the first to venture into the metaverse. Atari owns virtual property in both Decentraland and The Sandbox, metaverse platforms where visitors can play Atari-themed games and attend branded events, and there are plans to expand digital gaming opportunities across the board.
Samsung 837X, a metaverse location in Decentraland, was launched earlier this year. It was inspired by the Samsung 837 store in New York City, where customers can directly experience a variety of products, and it provides a similarly immersive experience with NFTs, games, product introductions, and live performances. In February, Samsung held a digital version of its Unpacked event at 837X, launching the Galaxy S22 phone.
Along with debuting one of many planned NFT collections in The Sandbox, sporting goods innovator Adidas purchased a plot of land there, which it intends to fill with exclusive branded content, experiences, and purchasable items. Adidas describes the metaverse as “a natural place for Adidas Originals to enter: a wild world where possibilities are truly limitless and where anyone can express and be rewarded for their most original ideas.”
A collection, titled ‘Into the Metaverse’, will include virtual wearables that buyers can use in online platforms, as well as physical clothing to match.
It is Adidas’ first collection of non-fungible tokens (NFTs) – essentially, digital collectibles with proven authenticity. NFTs function as a blockchain-based certificate of ownership, allowing items to be authenticated, purchased, and collected.
The collection was created in collaboration with some of the most well-known NFTs personalities, including Bored Ape Yacht Club.
4. Miller Lite
Does ‘Happy Hour’ exist in the metaverse? Yes it does and Molson Coors (parent company of Miller Lite) has you covered. The Meta Lite Bar was built just in time for the Super Bowl, with plenty of Miller Lite to quench game day thirst-at least virtually.
Visitors did win real beer and experience exclusive content on Game Day, in addition to virtual pool tables and virtual beer on tap. Miller’s long-term success remains to be seen, but we don’t imagine there would be a great demand for “virtual beer”. Still, where Miller goes, other brewers and distillers are sure to follow.
Nike announced the acquisition of RTFKT, a leader in the digital shoe market, in December. RTFKT has experience developing NFT projects and has collaborated with a number of brands to develop digital sneakers. Some of the designed digital sneakers can be worn in Decentraland, an online blockchain metaverse world.
This is not the first time Nike has extended its brand into the metaverse. Nike created an online experience inside Roblox (RBLX -0.48 percent ) in early September, allowing online players to enjoy Nike digital apparel and activities.
Because of the metaverse’s popularity, it has become a new venue for businesses to advertise and showcase their products to users.
And it’s a lot easier to send your digital avatar to the Nike store to browse the latest styles (and have the real versions delivered) than it is to fight the crowds, traffic and increasingly high fuel prices and maybe not ever find what you’re looking for.
If you’ve gone through this list and still can’t fathom a way for your company to fit into the metaverse, you might be overthinking it. When companies like PwC believe that being in the metaverse is an important part of their company’s story, it’s time to sit up and take notice.
Future digital landlords should keep an eye on metaverse land sales, potentially picking up properties now while they’re still reasonably priced.
The metaverse is a highly speculative place, with potentially risky real estate, but it’s also a realm that’s quickly being adopted across the board-from corporate behemoths like Nike to retail investors.
Not everyone will want to build their own structure or even own their own lot, which opens up enormous opportunities for metaverse real estate investors who make smart investments in growing platforms with long-term potential.
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Jay Speakman is a technology writer based in San Francisco, California. He writes on the topics of blockchain, cryptocurrency, DeFi and other disruptive technologies. Clients include Avalanche, Be[in]Crypto, Trust Machines and several blogs devoted to blockchain gaming. He will not rest until fiat currency is defeated.