All around us, the metaverse is growing from a futuristic theory to an established reality. Several major brands have already decided to enter the space and are likely to significantly impact the way web3 develops in the future.
From high-end luxury fashion to fast food, there is something in the metaverse for all kinds of businesses across many industries. Brands are realizing the immense potential of revenue from digital goods and brand exposure with younger generations.
Let’s look at some of the biggest names moving into the metaverse.
The global luxury fashion brand has demonstrated a thoughtful commitment to innovation with several investments in the metaverse. In 2021, Gucci collaborated with Roblox to create a two-week event called Gucci Garden.
Users explored virtual gardens and were given the opportunity to purchase digital products for their avatars. These assets ended up selling for more than their physical counterparts.
Then, in May of 2022, Gucci made its official entry into web3 by creating a permanent experience in Roblox called Gucci Town. Several weeks later, it was announced that Gucci was investing in the SuperRareDAO to the tune of $25,000 as part of its launch of a virtual art show for NFT creations.
They’re collaboration with digital-native artist Wagmi-san allows them to work organically with a web3-first brand and community.
Nike created an opportunity for fans to have a unique experience in the metaverse with NIKELAND. NIKELAND is the result of a collaboration with the Roblox platform and serves as a social space, allowing people with shared interests to come together and socialize as well as take part in events and engage more with the brand.
The virtual world has been very successful, with over 7 million visitors since it launched in November of 2021. As users enter NIKELAND, they are greeted and directed to their “yard,” a space within the world that they own and can decorate with their NFTs and collectible assets. In December of 2021, Nike further demonstrated their interest in web3 by purchasing RTFKT Studios (creators of NFT collectibles) and their NFT drop CryptoKicks.
Prepare to start enjoying virtual Big Macs. McDonald’s recently filed ten trademark applications that give a pretty good picture of their intentions regarding the metaverse. For starters, they appear to be planning to open a virtual restaurant where users will be able to purchase a variety of digital food and beverage products.
However, these spaces will be more than just places to hang out in the metaverse. According to the trademark applications, Mcdonald’s also intends to allow you to order physical goods from virtual restaurants for home delivery. Apparently, the brand also plans to provide entertainment through virtual events like concerts.
In February of 2022, Wrangler announced various NFT drops focusing on art experiences, fashion, and music. To promote the drops and help celebrate Wrangler’s 75th Anniversary, the brand has partnered with Leon Bridges, a Grammy award-winning recording artist. The NFT drop has been divided into two parts. In the first part, 75 NFTs will be dropped, each depicting an animation of one of Bridges’ iconic dance moves.
Purchasers of the NFTs will gain access to a digital community, Wrangler wearable assets for the metaverse, and an invitation to a Leon Bridges concert at New York Fashion Week in September 2022. In September, Wrangler will then drop a single NFT, including a physical replication of the denim suit designed for Leon Bridges.
The metaverse is about more than just virtual wearables and food. Memorable moments and enjoyable gaming experiences are also critical to its continued growth and success. That’s why Nascar released a virtual version of their Next Gen Car in the Roblox experience Jailbreak. They also dropped some NASCAR apparel and added a new racetrack to the game.
The brand has high hopes for its partnership with Roblox, especially after users engaged with the platform to the tune of around 24 million sessions within the first ten days. That’s about 2.5 times the size of the TV audience of the Daytona 500. They have also released a Daytona 500 collectible as part of the NFT gaming experience ZED Run.
Kenneth Cole is another fashion house venturing into the metaverse. In May of 2022, it announced that it would be dropping its first NFT project. The proceeds from the drop will go to the Mental Health Coalition. The NFTs themselves consist of handwritten messages in Cole’s own inimitable style.
The collection is titled “The Normal Series” and aims to defy cultural norms surrounding the perception of what “normal” is regarding the infinite variety of human beings. Each NFT will go for around $100 (0.05 ETH), making the collection affordable enough for regular people to get involved.
The sports footwear and apparel manufacturer New Balance has recently filed several trademark applications. These trademarks claim the intent to sell virtual assets for use in virtual worlds, including things like virtual clothing, footwear, and sports equipment.
New Balance has not shared any detailed metaverse plans, but the brand will most likely follow in the footsteps of several other well-known footwear brands that have already entered the metaverse. These include Nike, Adidas, and Puma.
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