Some of the most influential and successful billion-dollar companies have managed to turn the Metaverse world upside down as the customers of the Metaverse are showing a high level of interest in the interactive, virtual, 3-D experiences taking place online.
While being an entirely new concept, Meta-verse has been very successful ever since its inception, as seen in the report by Strategy Analytics. The market for Metaverse is supposed to hit about $42 billion globally by the time we reach 2026. This statement is a truth since brands such as Walmart and Nike have started exploring different customer-related experiences on the platforms of Metaverse.
NFT Utilities for Different Branches that Launch in Metaverse
To properly understand how these brands are reaping the benefits of Meta-verse and why they are doing it in the first place, one needs to know what nonfungible tokens or NFTs have to do with the whole deal. 2021 was the year for the influx of NFTs. With the rise of the Meta-verse, NFT utilities will also gain much traction.
In an interview, Adrian Baschuk, the founding partner of Ethernity Chain, which is a licensed and authenticated NFT platform, said that every single company, brand, and famous personality would have their very own integration of NFT and Metaverse pretty soon. Furthermore, he mentioned, “This is the “Myspace days” of the NFT-metaverse interactivity layer. Just as every company and individual has adopted some form of social media, this will also be the case for NFTs and the Metaverse.” Apart from that, Baschuk also informed that Ethernity has managed to incorporate the Sandbox, a metaverse ecosystem based on Blockchain.
Apart from that, the electronics giant Samsung has made a recent announcement regarding the replica of the New York physical store within a particular decentralized platform known as Decentraland. This will be another ecosystem of Metaverse that will supposedly provide a very eccentric digital experience to the users.
According to a spokesperson of Samsung, the store in Decentraland will provide amazing opportunities for the brand to connect with consumers and provide the best experiences. He also added, “In our Metaverse, the brand pillars of sustainability, customization, and connectivity will come to life in experiences that showcase the cutting-edge technology embedded in the Samsung family of products. In addition, this virtual hub will become a place for our community to celebrate the convergence of technology, art, culture, fashion, and music.”
The spokesperson also made further statements that Decentraland has provided the company with a platform to enable the brand to incorporate the best Web3 Metaverse experience for the users. Furthermore, the Samsung community was to have interactive quests for the users, enabling them to win certain prices such as NFT badges and Samsung branded merchandise. Samsung explained that the 837X store by the brand would serve as a proper foundation shortly as it will offer momentous value to its visitors.
Ridley Plummer, the lead for Tennis Australia NFT and the project of Metaverse, mentioned in another interview that it was a pretty natural progression for the event to have an expansion into the Metaverse. He also attributed the cause to the recent pandemic, which ensured that people wouldn’t join the happening in person.
“We can only have a certain number of people in the area and the arenas, so we are bringing the AO to the world by allowing fans to partake in a virtual, interactive experience on Decentraland. This will enhance our fans’ viewing experience at home from their television by providing users with a more voyeuristic look at what’s happening at Melbourne Park.” He said. Metaverse has certainly managed to take the world by storm due to the amazing opportunities.