The Metaverse ecosystem is gaining momentum as brands create digital experiences.

Thousands of business dollars are turning the corner as consumers become more aware of virtual reality, interactivity, and our online experience.

Although the metaverse is still a relatively new concept, the global metaverse market is expected to reach nearly $42 billion by 2026, according to research firm Strategy Analytics. This could be a problem as some companies, including Nike and Walmart, are beginning to search for familiar consumers in the metaverse environment.

Branded NFT rates published on Metaverse

In order to understand how and why companies set up the exchange, it is important to highlight the role that NFTs play in ecosystems. 2021 will see a flood of NFTs, but an increase in revenue should underline the importance of post-NFTs.

Adrian Baschuk, co-founder of Ethernity Chain, a licensed and licensed NFT platform, told Cointelegraph that every brand, company and celebrity will eventually have an NFT integration with Metaverse.

"This is the 'myspace era' of the NFT-Metaverse integration layer. Just as every business and individual gets some kind of publicity, so does NFT and Metaverse."

In response, Baschuk reported that Ethernity recently brought IP to Sandbox, a blockchain-based metaverse ecosystem. Specifically, Ethernity is the perfect place to hold a library and store all NFT licenses on The Sandbox. Baschuk explains that this will allow Sandbox users to purchase Ethernity NFT gear and merchandise.

According to Baschuk, these wearable NFTs include the sportswear that is worn and gives sandbox characters a special ability. "Dallas Cowboys' Zeke and Dak will start because players wearing the jersey and shoulder strap will improve the user's attitude skill and strength," he said.

This particular example can be applied to the sandbox gaming community, but the underlying idea is universal for metaverse entry types. For example, Baschuk explained that NFTs in virtual ecosystems allow companies to monetize their assets on blockchain networks, thereby increasing user and fan interactions.

With that in mind, consumer electronics giant Samsung recently announced that it would be launching virtual reality devices at its physical New York store in Decentraland, among other things to change the world. Called "Samsung 837X Store", this store is available in Decentraland for a limited time.

Samsung's spokesperson told Cointelegraph that "doing the Samsung 837X dual mission unlocks the ultimate potential for consumers to become immersed in Samsung and its products."

"The main focus of security, privacy and connectivity in the metaverse will be influenced by past experience which is the latest technological development of Samsung products." the music comes with it."

A Samsung spokesperson noted that Decentraland provided a unique platform for the company to bring a true Web3 metaverse experience. He noted that the Samsung community needs different retailers that hold workshops and offer attendees the chance to receive items such as NFT signs or receive special branded Samsung clothing for their avatars.

“The 837X store will be the cornerstone of the future and will be of great value to our customers,” Samsung explained. The path. An expert from Samsung Electronics said, “In the future, we hope that everyone who visits the world will improve their online experience on Metaverse and the real experience of Samsung products. . »

Samsung was one of the first big companies to open a virtual store in Decentraland this year, but other organizations have followed suit. Recently, Tennis Australia, the host of the Australian Open (AO), partnered with Decentraland to host the Australian Open on the Metaverse. This virtual venue includes key areas of Melbourne Park, including Rod Laver Stadium and Grand Slam Park. AO Decentraland 2022 will be held from January 17 to 30 depending on the effective competition period.

Ridley Plummer, director of NFT and Metaverse programs for Australian tennis, told Cointelegraph that the continuation of the event to the Metaverse was a success. Plummer said fans were having a hard time attending the private event due to border closures due to the spread of COVID-19 everywhere.

“These areas and stadiums may have people, so we are bringing AO into the world to engage fans in virtual Decentraland interaction. This will enhance the fan experience while they are there, allowing users to see more of what happening in Melbourne Park.”

Plummer explains that AO's metaverse environment provides a fun place for fans to revisit tennis matches and history clips from past games. He said the final weekend of the event will give fans a chance to see behind-the-scenes photos of the players in training and more.

In Decentraland, users can earn NFTs by walking around Melbourne's parks creating avatars, collecting supplies and playing virtual games, Plummer added. "Adding certain gear and crafting capabilities to Decentraland can enhance our partners' experience through gameplay and experience. Decentraland offers a wide range of sports mechanics."

The blockchain-based metaverse is more common, but will the concept work?

Since NFTs can provide a unique experience for consumers and fans, it is equally important to highlight the benefits offered by the blockchain-based metaverse ecosystem. For example, many brands have started to engage users through connected environments, and blockchain networks are helping to drive digital asset uptake, highlighting the real power of Web3.

In response, Adam De Cata, Partnership Manager at Decentraland, told Cointelegraph that the difference between a blockchain-based metaverse and a non-blockchain metaverse is intertwined.

“In terms of collaboration and what that means for blockchain users, it can provide a wide range of products and benefits. You can buy, trade, and sell digital clothes, and sell them. That's a cryptocurrency (which can be converted to fiat if needed). The creator, I'm also paid to wear it."

De Cata added that open sources such as Decentraland allow users to connect their digital wallets to the platform to access unique designs and events that will be unique to their unique NFT. , I am happy with the potential move to Web3. "

Speaking of collaboration, Sébastien Borget, founder of The Sandbox, said the change could lead to digital marketing, warning that the virtual world should be able to use an avatar across multiple platforms. "This can only be done through blockchain technology, which puts users in control of their privacy, data and currency."

Borget added that the virtual world has been around for more than 20 years and much of the change is now fundamental.

"The value that the core derives from creating or presenting is locked into the platform, plus most of the profits are captured by the platform rather than returned to the client. siv."

However, while the blockchain-based metaverse environment may provide additional services to businesses and users, it remains to be seen whether this concept will be accepted in context. . De Cata expressed optimism about the scale of adoption, saying Decentraland sees almost the same number of digital wallet users as net wallet users on the platform. He said he was eager to comment on the AO incident. "I'd like to see what's going on in Decentraland's AO process. There's enough market research out there to understand the storage and user experience of AO-like processes, and whether those users are crypto-native."

It should also be noted that Samsung has reported receiving a lot of positive feedback from Samsung 837X users. "Based on the information we have received, we can see both users and novices with the Samsung 837X. This is very exciting for us."

Will the Metaverse experience change real life?

Past experience may be a new development for different types of businesses and users, but some may think that a virtual environment will change real people. After all, this is probably due to the advanced features available in the blockchain-based metaverse environment.

The activation of NFT devices by Metaverse, for example, has a total impact on the multi-million dollar e-commerce space. To understand the nature of this situation, Justin Banon, founder of the Boson Protocol, an industry standard, told Cointelegraph that the commodity industry is finally looking for a market. "The essence of the Metaverse is that it's programmable and repeatable, so it works great for new industries."

Banon explains that Boson Protocol could buy one of Decentraland's largest territories to open a virtual store, purchase NFT apparel, and then exchange it for a physical product in an online or offline store. For example, Boson Protocol recently partnered with digital fashion apparel retailer DressX to create a virtual store, allowing the company to sell physical exchange products to users across the Metaverse. We have a growing need for Web3 features such as "digital-to-physical" products. Normal e-commerce no longer needs to be done. "

That may be the case, but De Cata says that the time to implement the metaverse is different for each user.

"Metaverse activities will add to life activities and past experiences. We have already seen a mixture of the two. Contextual relationships are fundamental in the digital age we live in. The lessons I have learned from the "Using the tech curve are early adopters. That means you can spend more time, spend more time on change, and more people will spend less time later."

Although it is difficult to predict the future attractiveness of the Metaverse, industry experts still believe that all species will eventually adopt the Metaverse model. Borget said he hopes the transition will be faster as companies find new ways to digitally engage with users. "Companies need to deliver value directly to consumers more than they use it in advertising," De Cata added, adding that the "metaverse" is a hot topic, but sees the virtual world. Platform extension:

"Metaverse lets you connect with like-minded people who currently can't access mobile apps. For the crypto community, collaboration is key. For non-crypto users accessing this place, they now love the YouTube experience.”