These days, the Metaverse is getting much attention. The word was invented by author Neal Stephenson in his sci-fi novel “Snow Crash” in 1992 to describe our current hybrid environment that combines the real and digital worlds. He envisioned the “metaverse” as a place where individuals engage in a digital game environment by wearing virtual reality headsets. Million-dollar corporations and well-known brands are now investing in the Metaverse to market their products and bring them into a hybrid reality. And the list continues to grow. Here are a few examples of signs of a new era:
Louis Vuitton
To mark the 200th birthday of its founder, Louis Vuitton released Louis: The Game in 2021. It’s a smartphone game in which Vivienne (the game’s protagonist) journeys through six distinct realms to follow Louis Vuitton’s history over two centuries. On the 200th anniversary of the founder’s birth, players must collect 200 candles to pay tribute to him. Players must also collect 30 NFTs (Non-Fungible Tokens) along the way in order to access the new narrative of Louis and his family. NFTs are digital assets that cannot be traded on any exchange.
Fortnite and Balenciaga
Like other high-end luxury labels, Balenciaga entered the Metaverse in 2021 in partnership with Fortnite, a popular video game throughout the world.
Players may buy or unlock real-life Balenciaga clothing and accessories in a virtual store created by the company. A collection of digital clothes is also available at select Balenciaga shops and online. It goes above and beyond their usual methods, with a 3D billboard featuring Doggo in a Hoodie (DOOH) over their virtual and physical stores, as part of their Fortnite-Balenciaga line.
Meta-Facebook
In October 2021, Mark Zuckerberg renamed Facebook Inc. to Meta. Mark is a big believer in the Metaverse as the internet’s future, and he wants to make it a reality. He hopes to connect individuals, build businesses through Metaverse, and train new creators to push their creative bounds with a $150 million investment in this endeavor.
Though Facebook has several hurdles in developing a global metaverse, the sky is the limit if Metaverse is adequately developed. User involvement will increase, and the corporation will continue to shape the internet in its current form.
Adidas
Adidas entered Metaverse in December 2021, partnering with Bored Ape Yacht Club, Punks Comics, and GMoney to offer real and digital clothing. Adidas Originals, the company’s lifestyle division, debuts the collection. The launch was a success, with over 30,000 NFTs traded in only a few minutes, boosting the company’s value to almost $ 22 million.
Tafi & Coca-Cola
Coca-Cola debuted its NFT collectible wearables in Metaverse in July 2021, in collaboration with Tafi, a major software business specializing in digital wearables, to commemorate International Friendship Day.
Coca-Cola held an auction to debut Friendship Box NFT, which contains digital delights and attire that can be utilized in the Decentraland virtual world. The treasure box is a reimagined Coca-Cola vending machine that includes a Coca-Cola Bubble Jacket, a Sound Visualizer, and a Friendship Card based on the company’s 1940s trading card.
Obviously, Coca-major Cola’s goal in entering the Metaverse is to attract the correct demographics and enhance their social media participation.
Roblox – Hyundai
Hyundai Motor Company teamed with Roblox to create Mobility Adventure, a metaverse area, in October 2021 to establish a long-lasting engagement with their followers and build a place in the hearts of youthful customers.
Mobility Adventure allows customers to interact with each other and experience their goods and future mobility solutions through customizable avatars, games, and inventive communication. Their target group is tech-savvy and eager to venture beyond physical events into the virtual realm.
Nike
Many people enjoy collecting shoes and sneakers. This practice has now spread to the Metaverse. Users may gather digital footwear and accessories to use in the virtual world using NFT. Nike purchased RTFKT in December 2021 to join the Metaverse and develop digital shoes. RTFKT is a creator-led enterprise that uses a non-fungible token studio to create digital collectibles.
Before Nike, RTFKT teamed up with FEWOCiOUS, an adolescent artist, to sell actual and virtual shoes, selling over 600 pairs in six minutes and netting $3.1 billion.
Final Words
In recent years, the Metaverse’s popularity has surged. It is now seen as the internet’s future, albeit it will take time to establish its basis.
Investment, expertise, and creativity will be the three most significant difficulties in using this space. On all fronts, brands are trying to gather resources.
Despite these obstacles, the Metaverse is rapidly expanding. The technology sector is projected that it will reach $800 billion in 2024 and 1 billion people by 2030.