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The internet's potential is becoming more visible to millions of users around the world. A few decades ago, the internet's acceptance rate was lower since individuals were unfamiliar with the innovative network. However, users began to rely on the web as part of their everyday life as years went by. Conversations around metaverse concepts are also gaining similar attention on the internet. By definition, a metaverse represents a digital universe where users interact through augmented or virtual realities. Metaverse further applies blockchain technology to enhance this digital environment with decentralization. While it may seem far-fetched, several prominent companies are already leveraging the ecosystem to build an online presence. At the same time, other iconic brands hope to use metaverse to improve their interactive strategies with customers. Among the companies that are onboard, the metaverse bandwagon includes:
Facebook's journey into the metaverse began in October 2021 at an augmented virtual and reality conference. The event was meant to address the development of a digital universe where users can work and play. According to Mark Zuckerberg, Facebook's CEO, hosting a metaverse will attain several objectives over the next decade. These goals include supporting a valuable digital commerce market, providing jobs to developers/content creators, and ultimately connecting approximately one billion users. Furthermore, the social media giant projects to use virtual and augmented realities to establish the digital space. In the event, Zuckerberg attested that metaverse may become the next generation of mobile internet. Facebook, therefore, plans to invest billions of dollars into the metaverse over the next couple of years. To kickstart the metaverse initiative, Facebook launched its first social VR universe known as Horizon Worlds in December 2021. The social app lets developers establish their mini-games through Meta's base game. In return, participants in the Horizon Worlds app stand a chance of winning a reward from the $10M creator fund set up by Meta.
Nike
Nike is yet another international brand taking up the metaverse solution. The global sports clothing company released its first virtual environment known as Nikeland in November 2021. The immersive metaverse runs on Roblox's architecture, enabling anyone to program and play games designed by other developers. Through Nikeland, users can play different types of minigames such as dodgeball and tag. Roblox's engine further enhances the player's experience using advanced AR hardware, which automatically detects a player's movement. Aside from the minigames, Nikeland users also have access to a digital showroom. Here, users can customize their avatars with outfits like the Nike Blazer or the Air Force 1. Within five months, Nikeland attracted approximately 7M visitors from 224 nations across the globe.
Samsung
Third on the list is Samsung, a South-Korean corporation dealing with the development of telecommunication equipment. The global brand made its way into the metaverse through a virtual reality platform known as Decentraland. 837x, Samsung's metaverse world, allows users to access live content, events, and expeditions which appear every month. Participants can explore the metaverse by connecting their MetaMask wallet or visiting the space as a guest. Linking a MetaMask wallet lets users collect and store NFT badges offered by the 837x's reward mechanism. Getting on board as a guest gives users a limited immersive experience where users cannot acquire any NFT. Even so, guests can still explore the metaverse, watch shows, and hang out without necessarily logging in.
Mastercard
In April 2022, Mastercard successfully filed 15 applications with the United States Patent and Trademark Office. The applications comprise NFTs and metaverse trademark platforms. Mastercard has significant plans which aim at establishing a strong digital community. The payment giant hopes to promote a metaverse-based payment system, digital events, and an eMarketplace. Therefore, these applications make use of MasterCard's name, logo, or "priceless" slogan within a metaverse or other virtual environments.
Louis Vuitton
Unlike other iconic brands, Louis Vuitton is not entirely on board with the metaverse concept. LVMH's CEO, Bernard Arnault, explains that the brand is solely interested in dealing with real goods instead of selling virtual products. While referring to the metaverse, he notes that the market should be wary of bubbles that could mislead the masses. However, the luxury goods manufacturer is optimistic that it could test out the metaverse as a business opportunity in the future.
Ubisoft
Last on the list is Ubisoft, a French-based gaming company. In February 2022, Ubisoft partnered with Sandbox to obtain its metaverse land. Sandbox operates as a digital world where users can buy land in the form of NFTs. In the Sandbox metaverse, participants can develop and monetize their interactive ecosystems. By acquiring land through Sandbox, Ubisoft can heighten its gaming experience in a virtual universe with NFTs.
Into the Future: The Metaverse
Without a doubt, there is a notable change in the adoption rate of metaverse worlds. The concept blends key features such as blockchain, NFTs, and AR/VR technologies to bring this idea to life. Thus, major global corporations will gradually test their working theory with such solutions. Employing the metaverse also serves as a marketing strategy since it boosts the company's interactions with its customers or investors. While it is not yet clear how the metaverse industry could grow, one thing is for sure; it is a revolutionary innovation that may reform the current Web2 phase.