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Five global brands going big on Metaverse

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After reigning online and on e-commerce, these global retail giants are now setting up their shops in the metaverse, getting ready for a new digital marketplace

New Delhi: After establishing their global brick-and-mortar empires and e-commerce entities, global retail giants including Walmart, Nike, Adidas, Balenciaga are now setting up their shops in the metaverse, getting ready for a new digital marketplace that is touted to be the next big thing in the virtual world.

Here is a list of five global retail giants plans for the metaverse:

Walmart has partnered with the gaming platform Roblox for its entry into the Metaverse. Walmart plans to set up online stores where customers can see virtual merchandizes, that would be exact virtual replicas of products stocked at Walmart’s brick-and-mortar stores. The company also plans to add a Walmart blimp(air ship) in the game that will drop toys. Walmart lately has showed interest in selling virtual goods and said it is also looking forward to organize metaverse events. Walmart is looking to target the Gen-Z market who are heavy into tech and metaverse.

Adidas has introduced their first virtual gear collection under the name of Genesis. It is a digital apparel collection you can buy on NFT marketplace Opensea. They created these non-fungible tokens (NFTs) by partnering with the creators of NFT-collection companies Bored Ape Yacht Club, Gmoney and Punks Comic. Scott Zalaznik, the chief digital officer of Adidas, is quoted as saying the blockchain technology has presented a great opportunity for brands.

In November 2021, Nike launched Nikeland partnering with ROBLOX an interactive world where people can play games related to sports. In December of 2021 Nike acquired RTFKT a brand specializing in developing sneaker NFT’s, underscoring the sportwear giant’s plans to expand in metaverse. Consumers can interact with sportspersons including basketball star Lebron James and can purchase their products as well through Nikeland.

In September 2021, Balenciaga partnered with popular virtual game Fortnite to enter the metaverse by introducing their skins (or digital costumes that changes the appearance of characters in video games) in the game under their brand name. It is one of the first brands to do so which has given a statement that Balenciaga is a promoting the Gen-Z culture which has made their reputation better in the market and has attracted a lot of modern-day hype among beasts (or people who are devoted to acquiring fashionable items, especially branded clothing and shoes) to get their hands on the latest drops by Balenciaga x Fortnite.

Louis Vuitton
In August of 2021 Louis Vuitton launched its first online game where consumers can play as their mascot Vivienne. It Is an action-adventure game where players have to collect NFT’S to qualify for a NFT raffle where they can win the luxury brand’s rarer NFTs. Like many other brands with this game Louis Vuitton has also given a statement that they are also optimistic about the growing metaverse culture.

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