The New Craze
Companies are starting to dive into the Metaverse after Mark Zuckerberg announced the futuristic virtual world last week. Microsoft (#msft) entered the metaverse race on Tuesday, introducing 3D avatars and immersive meetings. If you don’t feel like turning your webcam on, you’ll turn on your avatar to represent you in both 2D and 3D meetings. Don’t worry about wearing a bulky VR headset because the avatars will mirror your movements without it. In addition to the Teams upgrade, Microsoft announced their own virtual universe called “Microsoft Mesh.”
Nike (#nike) is also entering the Metaverse. The company filed several trademark applications, indicating its intent to create and sell virtual items. For example, Nike could sell virtual shoes, apparel, sports equipment, art and more. When you step inside of the Metaverse, you’ll be able to experience the virtual world in a pair of virtual Nike sweats and shoes.
This isn’t the first time Nike has ventured into the virtual realm. The Jordan brand teamed up with Fortnite in 2019, with avatars wearing Nike-branded footwear. Nike has also collaborated with the online game platform Roblox.
Nike and Microsoft are preparing for the near future. Like it or not, the Metaverse is approaching quickly! And as we get closer and closer to stepping inside the Metaverse, more companies will start to enter the space.
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.