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Facebook’s shift to Meta shone a light on an emerging new digital age called the metaverse. People can build on their real lives with virtual and augmented experiences in this parallel virtual universe. Some businesses had already been tapping into the metaverse, while others quickly joined in when they saw the increased buzz around the idea.
Will the reality of the metaverse live up to its hype?
Hundreds of brands are counting on the metaverse to take off, as seen by their significant investments. Tech giants in the metaverse created entire platforms around the concept, while other brands are happy to collaborate with these technology brands and offer and market their products on these platforms.
Learn about ten of the best metaverse examples of brands using virtual reality (VR) and augmented reality (AR) to promote their business and increase revenue.
Tech companies are currently running the show with their unique takes on the metaverse. The ideal future of the metaverse would connect each virtual world like the internet connects individual businesses and runs company platforms.
The technology for a unified metaverse hasn’t arrived yet. Therefore, businesses and brands must choose from current platforms or create their own version of a metaverse until then.
Here are seven of the top brands that built metaverses and what their metaverses include:
Hundreds of brands are eager to jump into this projected $800 billion metaverse market. However, only a few are doing it right and seeing positive returns.
Here are the ten best examples of successful brand integration with the current metaverse platforms.
Microsoft invested $70 billion into the metaverse when it acquired Activision Blizzard, the owner of significant franchises like World of Warcraft, Call of Duty, Guitar Hero, and Candy Crush. They said this move was their first step towards a Microsoft metaverse.
Microsoft chief executive Satya Nadella shared more insights into the future of Microsoft and the metaverse. She said the metaverse will operate similarly to VR games. Concepts that were already possible in the gaming industry are now moving into everyday life, like business and social connections, making the gaming industry a valuable market to tap into.
She gave the example of a virtual business meeting using avatars. While this is a new idea for the business world, gamers have gathered remotely using avatars for years.
Microsoft is still exploring how to connect its current products to the metaverse. One attempt was their Microsoft Mesh platform which worked with Microsoft Teams to allow people to gather in virtual reality.
Gucci, one of the most famous names in high-end fashion, didn’t want to miss the opportunity of being an innovator in the fashion industry by investing in the metaverse. They began their investment in May 2021 when they opened Gucci Garden on Roblox, celebrating their 100th anniversary. During this event, users could purchase NFT collectibles. Later that year, they sold their Dionysus bag for 350,000 Robux, which equals about $4,115.
Their next step was investing in land on The Sandbox to expand its Gucci Vault, an online store. This virtual store will give shoppers a more immersive experience and develop their NFT market further. If they continue to gain popularity, their NFTs could become a $56 billion market by 2030.
Nike’s big step into the metaverse occurred when it bought RTFKT. RTFKT was created in the metaverse to be a leading digital artifact creator. RTFKT designs unique digital assets like NFTs, virtual sneakers, collectibles, and more. Their products are leaders in the virtual fashion and gaming world.
Nike’s acquisition of RTFKT wasn’t their first experience with the metaverse. They also developed NIKELAND in collaboration with Roblox, a virtual gaming platform for users.
A critical step Nike took before entering the metaverse was protecting its logo and slogans in preparation for selling virtual goods. Licensing their trademark and logo will protect them from copyright infringements and control their usage, which will increase the value of their metaverse Nike NFTs.
Louis Vuitton developed their own game for the metaverse to celebrate their 200th anniversary. Louis the Game took users on an adventure of collecting 200 birthday candles over a map of six virtual worlds while also retelling the story of Louis Vuitton’s founding.
The game includes 30 NFTs that users can purchase and collect within the game.
Why would a fashion brand want to tap into the gaming industry?
According to Newzoo’s annual game market trends report, the global gaming market in 2021 reached $175.8 billion. The metaverse’s expansion will cause that number to skyrocket over the next few years. The Louis Vuitton metaverse game was a strategic move by combining the fashion industry with gaming right at the brink of the metaverse’s arrival.
Disney is a leader in entertainment and could not pass an opportunity to expand its empire into the metaverse. They recently even created a new role dedicated to building their storytelling future in a Disney metaverse.
Even though they haven’t announced any formal plan for entering the metaverse, they are already using technology and offering services that resemble a unified and connected metaverse experience. For instance, their MagicBand is a bracelet that tracks guests and contains all their data, including tickets, keys, payments, and photo pass, to allow guests to effortlessly move through their parks.
Disney also released virtual tours of their parks and rides during the pandemic to satisfy customers while their parks were closed. While these aren’t the same as what you might experience in the metaverse, they hint at what visitors might expect in the future as they dive deeper into the digital world.
Coca-Cola showed the world that the metaverse isn’t just about fashion, gaming, and entertainment. In 2021, they made their first appearance in the metaverse by auctioning off NFT collectibles in Decentraland. One of the collectibles included a wearable bubble jacket for avatars in the game.
They didn’t stop at fashion and collectibles. Their next move was to bring their signature drinks into the virtual realm. Their drink is called Coca-Cola Zero Sugar Byte. Then, they built a world within Fortnite Creative called Pixel Point. Players can participate in games and try different virtual flavors in this world.
Another notable fashion collaboration is Balenciaga and Fortnite. The fashion brand became the first to enter this popular gaming platform, giving them a unique channel for marketing their brand and selling NFTs, including virtual clothes, skins, and accessories.
Hyundai is one of the first players in the automotive industry to join the metaverse. They released a game called “Hyundai Mobility Adventure” on the popular platform Roblox. However, it is more than just mere entertainment. They claim it is a glimpse into the potential future of transportation when combined with the metaverse.
The company introduced a new concept of metamobility, which will foster unlimited travel and movement by combining virtual reality with the real world. While many of their ideas, like flying cars, seem to fit in the virtual reality realm, Hyundai has plans to bring those concepts into the physical world with the help of artificial intelligence and robotics.
Netflix released some of its plans for their Netflix metaverse, which gives the world an idea of what it means for the entertainment industry, specifically the streaming service market. In addition, they are acquiring the rights to multiple games and films.
While they haven’t released any official metaverse products, they have shown hints in the past of potential products. For instance, in 2018, they released “Black Mirror: Bandersnatch,” an immersive media experience that gave the viewer control over choices within the story. They later released their first video game, Minecraft: Story Mode.
Apple hasn’t officially launched an Apple metaverse but has begun working quietly in the background on technology that will support emerging metaverse platforms. For instance, they have prototypes for VR headsets, upgrading iPhones with systems capable of handling AR called ARKit, and supporting multiple AR apps.
The metaverse has space for all industries and products. It just needs innovative thinkers to break into those markets.
What can your brand offer the metaverse?
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