How are popular brands joining new crypto-trends and conquering meta-universes?
Ever since Facebook changed its name to Meta and announced its course towards virtual reality, the concept of meta universes has dramatically become a new trend. In general, these are virtual spaces where there are game universes, user avatars and entertainment content. Many experts call metaworlds an important part of Web 3.0, the new decentralised Internet standard, in which NFT and DeFi also play an important role. At the same time, well-known brands and companies have actively joined the innovation race of the new domain. We tell you more about what is happening.
The topic of meta-universes has been very popular lately. The reason for that is the ongoing restrictions caused by the coronavirus pandemic, which still forces people to spend more time at home. And this trend will only intensify in the future. Gartner analysts reported earlier this month that by 2026, a quarter of the world’s population will be spending at least an hour in virtual worlds. You can read more about this in a separate article.
JPMorgan’s virtual marketplace from another angle
The virtual marketplaces are already actively used by giants. For example, JPMorgan Bank has opened its own branch within the Decentraland platform. Funnily enough, visitors are greeted at the entrance by a portrait of the company’s CEO, Jamie Dimon.
Which companies support blockchain
The volume of the unique token sphere is reaching the billions of dollars mark, so NFT has started to get noticed by big brands. Some of them are even ready to resort to legal sanctions: for example, Nike previously filed a lawsuit against the StockX platform over the sale of unauthorised photos of its trainers as NFT. Meanwhile, major US chain Walmart has registered 27 trademarks associated with unique tokens.
It didn’t end there: in February, L’Oreal applied for trademark registrations for 17 of its affiliated cosmetics, hair care and skin care brands, including Kiehl’s, NYX, Urban Decay, Redken, Essie, Pureology, Matrix and It Cosmetics.
L’Oreal
The applications also include trademark requests for “cosmetics and make-up products to be sold for virtual avatars” and “retail shop services in relation to virtual goods”. It looks like even cosmetics will now be able to become virtual. It’s quite an interesting idea to sell NFTs, with which users will probably be able to customise their virtual avatars in the digital world.
According to Decrypt sources, clothing and lingerie brand Victoria's Secret applied for its own trademark a couple of weeks ago, which refers to "downloadable virtual goods" as well as "creating and sharing digital collectibles". In addition, the company is developing its own virtual events in meta-villages as a kind of alternative to real-life fashion shows.
Another brand, Ralph Lauren, applied for trademark registration in December. The application will allow the company to formally sell virtual goods in the meta-universes. They are expected to have at least the same value as the brand’s clothing or accessories.
Ralph Lauren
In October and November, Nike filed several trademark requests for Nike and Nikeland to create their own virtual goods and shopping platforms. The company has already registered its rights for the virtual Jumpman emblems, the Nike ticker, the ‘Just Do It’ slogan and the Air Jordan brand.
Skechers has filed eight trademark applications for the meta-universe, with applications filed last month for the Sketchers, Bobs, GoWalk, ArchWalk and Twinkle Toes brands. Other well-known sportswear brands that have filed trademark applications for virtual goods include Under Armour, Puma and New Balance.
The meta-universe
Something big is also being planned by McDonald’s. The fast-food restaurant chain recently registered 10 trademark applications for “online retail services with virtual goods”, virtual events and for McCafe.
From the looks of things, the concept of virtual reality could become very popular indeed in the near future. Right now, companies need time to move their products and other components into digital worlds, but when this process is over, users will be able to interact tightly with these worlds. Experts believe that the concept of charging an NFT token after buying something will be especially popular.
Its digital copy could be credited to the customer's wallet, enabling the latter to wear the item in the digital world as well. That seems to be the future.
As a result, major corporations have seen the growth of the meta-universe ecosystem. These innovations are unlikely to overtake them and they will make a huge contribution to their development. Read about other news of the Web 3.0 trend in our Millionaire Crypto Chat. There, we’ll talk about other topics related to the blockchain and decentralisation industry.
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