The metaverse is a universe of potential, which is why so many people are so excited about it. Although it's not fully fleshed out yet, plenty of businesses are already finding footholds there in hopes of making their marks in metaverse platforms that have 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. Companies of all sorts are starting to settle in; these are just a few that may tell a bigger story about where the metaverse is headed and who will be leading the revolution.
It should come as no surprise that one of the first pioneers in video games and home computing would have taken early steps into the metaverse. Atari owns virtual property in both Decentraland and The Sandbox, metaverse 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 location, known as Samsung 837X, in Decentraland earlier this year. It was designed based on the Samsung 837 store in New York City, where all sorts of products can be experienced directly, and it offers a similarly immersive experience with NFTs, games, product introductions, and live performances. Samsung also hosted a digital version of its Unpacked event at 837X, launching the Galaxy S22 phone, on Feb. 9.
Along with premiering one of many planned NFT collections in The Sandbox, sporting goods power Adidas purchased a plot of land there that it intends to fill with exclusive branded content, experiences, and items for purchase. The details at this time are thin, but Adidas describes the metaverse as "a natural place for Adidas Originals to enter: a wild world where possibilities are truly limitless and where anyone can express and be rewarded for their most original ideas."
Back in December, the international accounting firm PricewaterhouseCoopers (PwC)'s Hong Kong branch purchased a piece of land in The Sandbox. Although the metaverse probably won't spur a lot of new and exciting accounting breakthroughs, PwC doesn't want to miss out on the potential. William Gee, a partner at PwC Hong Kong, told the Wall Street Journal in a statement that "the Metaverse offers new possibilities for organisations [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? Chief Executive Officer Glenn Friedman told the WSJ simply "if the metaverse is going to replace the internet, then certainly business is going to use it."
6. Miller Lite
With businesses flocking to the metaverse, there must also be Happy Hour. Don't worry, Molson Coors has it covered. It's constructed the Meta Lite Bar, just in time for the Super Bowl, with nothing but Miller Lite as far as the eye can see. Along with virtual pool tables and virtual beer on tap, visitors can win REAL suds and experience exclusive content on Game Day.
The variety of businesses headed to the metaverse is huge
If you've read through this list and still can't find a way that your business will fit into the metaverse, then you may be overthinking it. When even your friendly neighborhood accountants think that being in the metaverse is an important step in their company's story, it's time to sit up and pay attention.
Future metaverse landlords should be watching this space, too, because they can pick up properties now while they're still affordable. Small companies that want a metaverse presence will be looking to you for a rental, or even billboard space.
The metaverse is a highly speculative place, and real estate there is potentially filled with risk, but it's also a universe that's quickly being adopted by all kinds of people and businesses. Not everyone will want to build their own structure or even own their own lot, creating huge opportunities for metaverse real estate investors who make smart purchases in growing platforms with long-lasting potential.