NFT Real Estate: A Huge Virtual Market for Companies: The competition for the best ad space in the metaverse is gaining momentum | newsletter

• Digital real estate sales in Metaverse are increasing

• Real companies’ acquisition of virtual advertising space
• The first Metaverse Fashion Week is approaching

Many experts believe that the Metaverse has a great future: in this virtual space, millions of people are supposed to exchange ideas, hold conferences, engage in various recreational activities – and spend money. For this reason, many real-world companies are scratching their hooves and trying to grab their coveted NFT property early on. What are the particularly popular versions of the Metaverse and which companies have already made initial investments in these parallel worlds?

Decentraland virtual parcels are getting more expensive

Besides The Sandbox, Decentraland is one of the two leading 3D platforms. According to the project, which was established in 2015, it has 600,000 monthly active users. The Decentraland metaverse opened to the public in February 2020, and contains 90,601 blocks of strictly restricted NFT properties using the MANA blockchain-based cryptocurrency (market capitalization $3.81 billion as of 03/14.2022) that can be purchased. Even if Decentraland is still in its infancy, as critics regularly complain, a fierce battle over individual packages has already broken out. After the launch of the Decentraland beta in 2017, the prices for a single package were around $20, but as a result of the NFT boom, prices are now at $100,000 per package. In June 2021, London auction house Sotheby’s attracted attention when it opened a virtual auction building for NFT art in Decentraland. A few months later, Barbados announced the opening of its first embassy in Decentraland. As Louis Smithingham, creative director at marketing agency Media.Monks, told the Wall Street Journal, Decentraland is particularly well suited to experimenting with what the larger metaverse of the future might look like. The first festivals actually took place, and during the Superbowl, American brewery Molson Coors leased the Decentraland property to its Miller Lite brand, opening the virtual brewery Meta Lite Bar.

Snoop Dog bought an NFT drug at The Sandbox

Decentralands’ biggest competitor currently is The Sandbox, originally a video game first published in 2012 in which pixel-like 3D worlds can be played as in the metaverse. Although the Sandbox metaverse, which may remind some users of Microsoft’s Minecraft game, is not yet open to the public, some companies such as adidas, Warner Music Group and Gucci, but also celebrities such as American rappers in the lead Snoop Dogg have acquired millions Dollars in NFT properties using the SAND cryptocurrency. The latest funding round headed by Japan’s SoftBank confirmed the high level of growth investors believe Sandbox can achieve: $93 million raised. However, the sandbox SAND coin is currently worth about $2.78 billion (as of March 14, 2022) just below Decentraland.

Million Market: Metaverse Marketing

Word has spread about the potential for real companies to make big profits in the virtual Metaverse worlds of the future. Many multinational companies are investing increasing amounts of money to position themselves in the most promising Metaverse platforms. The Metaverse Group, a subsidiary, acquired approximately 5,500 square feet of space for approximately $2.5 million in November 2021 as the company will host Metaverse Fashion Week beginning March 24. Brands like Tommy Hilfiger will showcase the current collections. Sebastien Borget, Sandbox co-founder and COO, explains in The Wall Street Journal that companies are using Metaverse to connect with customers and create a more fun and immersive social experience. In addition to product placements, some companies also speculate on recurring sources of income, for example by renting out their digital properties to other companies.

However, the first metaverses are still in their early stages and it will likely be a few more years before investments in the virtual world can be turned into real, consistent profits. But if the Metaverse truly becomes the big thrust of the decade of 2020, the leading companies, the “first movers” of virtual 3D realms, must be able to aspire to a stellar market position at the interface between the virtual and the real. editorial office

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