Adidas Original Joins The Ranks Of Brands Making The Best Of The Metaverse
Reports And Data
Metaverse Market Size – USD 48.12 Billion in 2020, at a CAGR of 44.1%, Market Trends –Presence of number of tech giants and start-ups in North America
NEW YORK, NY, UNITED STATES, December 7, 2021 /EINPresswire.com/ -- The metaverse is currently widely regarded as the next great thing in technology. In general, producing immersive experiences for users in virtual reality worlds or in some combination of physical and virtual worlds using technologies such as video, virtual reality, and augmented reality is what a metaverse is all about.
Many technological heavyweights and newcomers are vying for a piece of this potentially massive market, which Reports and Data estimates will be worth USD 872.35 billion by 2028. Meta Platforms, formerly known as Facebook, is a prominent early player. Meta's dedication to this possibility is reflected in the name change, which is part of the rebranding process.
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Others are also jumping on to the wagon. Adidas Originals is one such. For its metaverse debut, the company has worked with two non-fungible tokens (NFTs) players — Bored Ape Yacht Club and Pixel Vaults Punks Comic — as well as crypto investor Gmoney. After replacing the official Twitter handle's profile photo with a Bored Ape image, the sportswear brand described the metaverse as a "universe of endless possibilities."
The cartoonised monkey can be seen wearing an Adidas track jacket with prints of Punks Comic and Gmoney logos in the Bored Ape image that has been set as Adidas' new Twitter picture. Over 10,000 NFTs have been generated on the Ethereum blockchain as part of the Bored Ape Yacht Club NFT series. The Punk's Comic, on the other hand, combines the worlds of NFTs and real comic books to produce new-age crypto comics. Gmoney is a well-known cryptocurrency and NFT influencer who has appeared on the Fortune NFTy 50 list.
Adidas announced its foray into the metaverse and a relationship with Coinbase at the end of November, and it had already begun playing the metaverse game The Sandbox. In the coming days, Balenciaga and Nike will also debut metaverse-related projects.
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However, several other firms, such as Unity Software and Cloudflare, have the potential to use the metaverse to transform how people live, work, and entertain themselves. Because effective monetization of the metaverse concept may take some time, these companies provide investors with a margin of safety through their various revenue-generating business lines. Here's why these equities are a reasonably risk-free method for retail investors to gain exposure to metaverse trends.
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Tushar Rajput
Reports and Data
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