October 8, 2022
Several notable companies like Samsung, Emirates, and Nike have already started using the metaverse, with many more expected to follow suit as the emerging technology continues to gain mainstream attention and funding. In fact, JPMorgan recently described it as a $1 trillion-per-year opportunity, prompting the company to open the first ever virtual bank. This is a significant indicator of the possibilities for brands and businesses to enter the growing decentralized metaverse economy. An increasing number of brands are thus actively viewing the metaverse as a kind of extension of the Internet or even its evolution, said Yonatan Raz-Fridman, CEO of Supersocial and host of the Into The Metaverse podcast. The CEO further stated that although there is a lot of work yet to be done, the potential is massive and the main point of attraction is about inviting consumers in to experience different brands in a fresh and innovative way. With technologies like VR (Virtual Reality) and AR (Augmented Reality) steadily becoming more accessible, many believe that it is only a matter of time before the metaverse is thought of in the same way as social media is in this day and age. Notable celebrities like Snoop Dogg, Paris Hilton, and Reese Witherspoon have also previously endorsed the metaverse concept alongside crypto, blockchain, and NFTs.
