Metaverse is a mix of virtual and augmented reality where users can interact with one another in real-time, regardless of the distance between them in the physical world. The users can connect to Metaverse through a browser or via virtual reality headsets, like the upcoming Think Reality VRX by Lenovo, for example, and spend their time exploring the Metaverse, shopping, playing games, and much more.
Even though Metaverse is a relatively new concept, many world-renown brands are already selling their virtual products, NFTs, and services in the Metaverse. Here’s how it works and what brands you can find on the Metaverse.
The Concept of Buying Something on Metaverse
At the time of writing, there are several metaverse worlds, like the Sandbox, Decentraland, Voxels, and a few others. Just like the real world, each of these worlds has its own economy and offers a variety of goods you can purchase. Not only that, but you can also trade or sell goods using cryptocurrencies, NFTs, and even fiat currencies.
The number of things you can buy on the Metaverse continuously grows as more and more brands join the Metaverse. Nowadays, you can own digital land or digital art, buy outfits for your Metaverse avatars, visit a casino and gamble with Bitcoin, buy tickets and attend virtual concerts, and much, much more.
Brands Available on Metaverse
Thanks to cryptocurrencies and blockchain technology, you can also fully own a virtual object or an experience in the Metaverse, which is just one of the reasons many brands are already developing and selling their digital goods in the Metaverse.
Furthermore, the Metaverse presents an excellent opportunity for every brand to advertise its products to an audience of 15-30-year-olds, so more and more brands are joining the Metaverse on the regular.
In fact, some of the leading brands in their industry have already joined the Metaverse and are using these cyberspaces to sell digital goods and build on their brand’s reputation.
Nike is a business giant in the sports world and is one of the first sports brands that entered the Metaverse. The company owns NIKELAND, which is a world on the Roblox metaverse.
So far, nearly 22 million different users have visited NIKELAND, and people who join Nike’s digital world can play sports, enter dunk contests, unlock sports superpowers, and style their avatars with digital sneakers and gear.
Microsoft offers a service known as Mesh that allows users to join augmented reality via PC, laptop, or smartphone without having to own a virtual headset. People using Mesh can project photorealistic versions of themselves and experience virtual worlds together.
Microsoft’s goal is to integrate Mesh with Microsoft Teams and ultimately create a platform that can help users gain remote expertise and go through a variety of onboarding processes, attend business meetings in a new way to increase productivity, and much more.
Facebook and Meta Platforms
In 2021, Facebook announced it will rebrand its corporate name to Meta. For a lot of people, the rebranding was nothing but a PR stunt meant to relieve a lot of bad press the company received at the time.
However, PR stunt or not, Mark Zuckerberg believes the Metaverse is the future and is investing heavily into his vision and plans to transform Facebook into a 3D VR social platform where users can make connections, explore, game, and work together.
Coca-Cola made its first appearance in the Metaverse in 2021 and auctioned a number of NFT collectibles in Decentraland. The company also dropped more than 4,000 free digital collectibles on International Burger Day, created a signature drink called Coca-Cola Zero Sugar Byte, and even built a world called Pixel Point, where players can participate in a number of games.
Hyundai launched the Hyundai Mobility Adventure game on the Roblox metaverse. The game has had more than six million unique visitors and allows players to take a glimpse into the future of transportation, customize their avatars, socialize with each other, and even race each other.
Players can also freely move between five themed parks, take part in festivals, and experience Hyundai Motor’s future mobility solutions and hydrogen fuel-cell technology. You can even visit a smart tech campus and replicate the experiences of Hyundai’s engineers and designers in a variety of creative settings.
The Wrap Up
Metaverse is still in its infantile stage, and we are yet to discover all the new ways we can use it to its full potential. However, despite that, some of the biggest names in the world are pouring billions of dollars into this new concept and are working hard on expanding their brand and marketing their products to new audiences.
While it may take years for Metaverse to achieve mass adoption, many industry experts already agree on one thing—there is no shortage of possibilities with the Metaverse.