Digital fashion, NFT avatars and virtual events in VR worlds
Ever since Facebook changed its name to Meta, the metaverse has become a big attraction for all kinds of brands. But even before that, various brands already dipped their toes into this digital realm. We take a look at 10 major mainstream brands that are ready to leave their mark on the metaverse.
What is the Metaverse?
The metaverse is not a single virtual world made by one company. No, it’s everything together: Virtual worlds, digital environments, and decentralized services. Users can have one identity and use it across all locations, meaning that you can use the same profile, avatar, and wallet in multiple worlds and for multiple services.
Major Brands Stepping into the Metaverse
Now let’s see what brands are interested in the metaverse…
South Korean tech giant Samsung opened a virtual version of its 837 flagship store in New York, but now you can visit it inside Decentraland. The virtual 837X store serves as a showcase for the company’s latest announcements at the Consumer Electronics Show in Vegas. It features three areas: the Connectivity Theater, the Sustainability Forest, and the Customization Stage. During the first days of the event, visitors could even win limited edition digital fashion. The Samsung store in Decentraland will be open for a limited time, but Samsung has plans to launch more 837X stores across other platforms.
In 2021, Coca-Cola launched their first NFT collection, together with a virtual event in Decentraland. All this in the name of Friendship Day on July 30th. Coca-Cola organized a virtual party on top of their virtual coke can building. Visitors could win very rare wearables, and the party kicked off the auction of the Coca-Cola Friendship Box NFT package.
In December 2021, Nike acquired RTFKT (Artifact) Studios, a digital fashion brand with a strong presence in the NFT community. As a result, Nike now has access to a premier digital fashion brand and the metaverse-ready CloneX avatars. RTFKT already launched various wearables, including NFTs to be used in Decentraland. In addition, they sold NFTs that could be redeemed for physical items, and they allowed certain communities to acquire exclusive sneakers. All this shows that Nike acquired one of the strongest fashion brands in the metaverse to date.
Not only did Adidas acquire land inside the virtual world of The Sandbox, but they also launched an NFT collection in collaboration with Punks Comics, Gmoney, and Bored Ape Yacht Club. This NFT release instantly brought lots of eyeballs as it appealed to various communities. Especially the connection with Bored Apes has been one that brought lots of attention to Adidas’ efforts. However, the launch of the Originals: Into the Metaverse didn’t happen without some controversy as only 10 thousand out of the 30 thousand NFTs were sold to the general public.
5. Louis Vuitton
For its 200th anniversary, fashion house Louis Vuitton did something surprising. They released Louis The Game, a puzzle adventure game in which players could collect NFTs. It marked the company’s first very serious efforts into the metaverse. In the game, you play Vivienne, who needs to journey through six vibrant locations to find all 200 collectible candles. You can still find the game in the Google Play Store and Apple’s App Store.
Announced at E3 2021, Burberry partnered with Mythical Games to bring branded NFTs to the game Blankos Block Party. Various NFTs sold out in no time as gamers were eager to get their hands on the exclusive and limited edition assets. Burberry armbands would cost $25, while the Burberry Sharky B game character had a $300 price tag. There’s some hype around these NFTs, as the Sharky B character now sells for at least $700 on the secondary market.
Sure, it was not Domino’s itself stepping into the metaverse, but enthusiastic developers that made it possible for US citizens to order a pizza. The entire ordering process happened from within the virtual world of Decentraland. This shows that brands and services will also find their way into the metaverse even without efforts from said brands themselves. In addition, this shows that business in the metaverse can complement businesses in the real world.
2021 will go down as the year NFT art made it into the mainstream. Auction house Sotheby’s played a crucial role in this. They even opened a virtual gallery, made after their London gallery, inside Decentraland. The virtual gallery didn’t open for no reason, as Sotheby’s had the Natively Digital auction in June 2021. Here they auctioned an artwork by Robert Alice, while various NFT artworks from famous NFT artists were on display.
9. AMC’s The Walking Dead
AMC’s The Walking Dead is much more than a TV series, as it has spawned sequels and spin-offs, all kinds of merchandise, and now also a play-to-earn game. The Walking Dead Empires will tap into the Gala Games ecosystem, allowing gamers to own land, earn and find assets, trade with other players, and so on. Of course, it’s nothing new to see games based on The Walking Dead, but this marks the first time that players can own a bit of the game world. On top of that, owning land can generate passive income, while survivors in the game world can earn through trading. This is a big brand moving into play-to-earn. We didn’t even mention that comic book company Skybound is also bringing The Walking Dead into the metaverse, thanks to The Sandbox.
Last but not least on the list is Atari, a gaming company that made early moves into virtual worlds like Decentraland and The Sandbox. Here they bring their classic, iconic gaming franchise to life inside the metaverse. As a game company, Atari has had troubled times but has a brand it still stands strong. It could very well be that Atari’s presence in the metaverse is the spark the company needs to truly blossom once again.
Why are brands joining the Metaverse?
It’s no wonder global brands like the ones listed above are riding the Metaverse wave. As you can read in our 2021 Dapp Industry Report, all metaverse-related projects experienced a considerable value appraisal last year. Virtual land NFTs were sold for as high as $2.5 million.
Virtual worlds like The Sandbox, for example, had two million registered users in March 2022.
According to our latest Industry Report of July, “metaverse and blockchain-based gaming ventures continued to garner increasing venture capital.”
What are the best Metaverse virtual worlds?
If you’re interested in checking out various blockchain-powered virtual worlds, you have to read our article Top 10 Best Metaverse Virtual Worlds with Land NFTs.
We’ve also listed three of the most famous ones here for you to explore.
Keep learning about the Metaverse with DappRadar
What’s your favorite brand from this list? Or do you know about other brands doing something cool in the metaverse? Let us know and join our Discord to discuss things with the community.
We at DappRadar will continue to follow the most revolutionary Metaverse virtual worlds and keep you posted on the top opportunities.
The above does not constitute investment advice. The information given here is purely for informational purposes only. Please exercise due diligence and do your own research.