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The metaverse has become a global phenomenon, with users from countries all over the world discovering and exploring various virtual platforms and building themselves digital identities and forming communities.
One of the biggest aspects of the metaverse is the retail element, allowing users to explore their favourite brands in digital form. Companies all over the world have invested in the metaverse with the UK being one of the most prominent when it comes to the integration of virtual profit into their day-to-day businesses.
What Investments Can You Make in the Metaverse?
When it comes to investing in the metaverse, there are a number of paths that companies can take to start making money and make their venture onto a virtual platform worthwhile.
One of the primary ways of investing in the metaverse involves purchasing real estate on one of the platforms. This gives companies a plot of land that they can then build on with the subsequent building allowing them to host events or rent out space to other users, drawing in a profit and making the most of the metaverse clientele.
UK companies can also invest in NFTs, a broad and diverse collection of tokens that can be traded and are each wholly unique. NFTs can be worth a lot of money and many investors would curate their own collections, increasing the worth of their NFTs. Money can also be made from minting and selling NFTs, with both sides of the coin proving to be a good investment for those looking to invest in and turn a profit in the metaverse.
Other options include investing in cryptocurrency and buying stock, with companies giving themselves a financial foothold in the foundations of the metaverse platform they’re investing in.
Companies and Brands Investing in the Metaverse
There are a large number of brands making their mark in the metaverse and investing in land, stock or NFTs to help their businesses grow and evolve through virtual and augmented reality as well as in the physical world.
Selfridges
Selfridges is one of the top UK brands investing in the metaverse to bring an immersive experience to its customers. They invested in land and supply their own collection of NFTs, making their shopper’s journeys unique and increasing the profit they gain from their purchase of virtual land.
Alexander McQueen
Popular luxury fashion label Alexander McQueen has also invested in the metaverse, buying a plot of land and featuring in 2022’s inaugural Metaverse Fashion Week. The fashion week could be a strong starting point for the label to make more investments in the metaverse and strengthen its digital impact.
Burberry
High fashion brand Burberry has also made waves in the metaverse in recent years, partnering with Tencent Games and Mythical Games on two separate occasions to bring unique fashion-forward gaming experiences to the metaverse. This also includes offering NFTs in-game to enhance the user’s experience, the partnership improving their investment advantages.
Burberry also partnered with Emperia to create a brand new virtual store celebrating the launch of Burberry’s new signature bag, Olympia, designed by Riccardo Tisci, which extended its in-store pop-up into the digital realm, targeting Burberry’s VIP clients.
Clarks
Popular UK footwear retailer Clarks enters the metaverse to bring audiences a Roblox gaming experience called the Cicaverse, with their investment in the metaverse including a virtual store where users can purchase accessories for their avatars, helping the brand to become more modern and successful in the digital world.
Dr. Martens
Luxury shoe label Dr Martens has also invested in the metaverse, partnering with TRASHYMUSE to bring stylish digital fashion into the metaverse. The brand is making the most of its partner’s experience in augmented reality and virtual reality and setting itself for greater investments into virtual worlds in the future.
The popularity of the metaverse in the UK is slowly growing as more brands and companies explore an investment into virtual reality whether that be through setting up a store on virtual real estate or venturing into the world of online gaming to sell NFTs.
As the technology of the metaverse improves, more and more companies from the UK and around the world will take the plunge with virtual reality investments, bringing their brands forward into a new era.