Jhe metaverse is a universe of potential, which is why so many people are so excited about it. Although it is not yet fully fleshed out, many companies are already moving there in hopes of making their mark on metaverse platforms that have long-lasting reach and community investment.
Virtual real estate is the next frontier, but it’s important to know who is already investing in the metaverse so you can decide if your own business would make sense there. Businesses of all kinds are beginning to set up; these are just a few that can tell a bigger story about where the metaverse is headed and who will lead the revolution.
It’s no surprise that one of the earliest pioneers of video games and home computing has taken its first steps into the metaverse. Atari has virtual property in both Decentralized and The sandboxmetaverse platforms where visitors can play Atari-themed games and attend branded events, with plans to expand digital gaming opportunities across the board.
Electronics maker Samsung launched its metaverse slot, known as the Samsung 837X, at Decentraland earlier this year. It was designed based on the Samsung 837 store in New York, where all kinds of products can be experienced directly, and it offers a similar immersive experience with NFTs, games, product demonstrations and live performances. Samsung also held a digital version of its Unpacked event at 837X, launching the Galaxy S22 phone on February 9.
Along with showcasing one of the many NFT collections planned in The Sandbox, the sporting goods powerhouse Adidas purchased land there which he intends to fill with exclusive branded content, experiences and items to buy. Details at this time are slim, but Adidas describes the Metaverse as “a natural place for Adidas Originals: a wild world where the possibilities are truly limitless and anyone can express and be rewarded for their most original ideas.”
Last December, the Hong Kong branch of international accounting firm PricewaterhouseCoopers (PwC) purchased land in The Sandbox. While the metaverse is unlikely to spur many new and exciting accounting breakthroughs, PwC doesn’t want to miss out on the potential. William Gee, partner at PwC Hong Kong, told the the wall street journal in a statement that “the metaverse offers new possibilities for organizations [sic] to create value through innovative business models, as well as introducing new ways to engage with their customers and communities.”
5. Prager Metis
Of course, The Sandbox isn’t the only metaverse platform with an accounting firm. New York-based Prager Metis International LLC opened a virtual office building in Decentraland in December. The reason? CEO Glenn Friedman told the WSJ simply “if the metaverse is going to replace the internet, then companies are definitely going to use it.”
6. Light Miller
With businesses flocking to the metaverse, there must also be Happy Hour. Do not worry, Molson Coors covered it. He built the Meta Lite bar, just in time for the Super Bowl, with nothing but Miller Lite as far as the eye could see. In addition to virtual pool tables and virtual beer on tap, visitors can earn REAL foam and experience exclusive game day content.
The variety of businesses headed to the metaverse is huge
If you’ve read this list and still can’t figure out how your business will fit into the metaverse, you may be overthinking it. When even your friendly neighborhood accountants think being in the metaverse is a milestone in their company’s history, it’s time to sit up and pay attention.
Future owners of the Metaverse should also watch this space, as they can buy properties now while they are still affordable. Small businesses that want a metaverse presence will look to you for rental, or even billboard space.
The Metaverse is a highly speculative place, and real estate there is potentially fraught with risk, but it’s also a universe that’s being quickly embraced by all kinds of people and businesses. Not everyone will want to build their own structure or even own their own land, creating huge opportunities for metaverse real estate investors making smart purchases in growing platforms with sustainable potential.
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Kristi Waterworth owns Decentraland. The Motley Fool has no position in the stocks mentioned. The Motley Fool has a disclosure policy.
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