Growing Metaverse
Along with Web3, DeFi, and Crypto, Metaverse has become one of the most common buzzwords of 2022. The Metaverse, although referenced prior to Facebook’s recent shift to become “Meta” has only recently fallen into mainstream vocabulary. If you don’t know what the Metaverse is, well, it’s simply a network of 3D virtual worlds focused on social connection and oftentimes, gaming. Wikipedia, a place where definitions often are molded by the public, defines it further as a hypothetical iteration of the Internet as a single, universal virtual world that is facilitated using virtual and augmented reality headsets. With this idea of virtual reality and new worlds also comes the opportunity for new profits. From individuals launching their own worlds and projects combining NFTs, tokens and more, everyone seems to be hungry for a slice of the metaverse.
Most intrigued by the business upside to the Metaverse appears to be none other than some of America’s largest companies. So far Nike, Ralph Lauren, Bumble, Disney, and a host of other companies have announced plans to enter the metaverse in some form or another. Most recently, Walmart has joined the lot as they secretly filed numerous trademark applications in late December of last year. Each of these trademarks described plans to sell virtual merchandise. Walmart themselves have said: “Walmart is continuously exploring how emerging technologies may shape future shopping experiences,” and that “We don’t have anything further to share today, but it’s worth noting we routinely file trademark applications as part of the innovation process”.
What do you think about Walmart entering the Metaverse? And is it only a matter of time before every company does this?
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.
