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The Popularity of Metaverses: Which Companies are Investing in Land, and What are They Building on It?
Many consider real estate a valuable investment that can yield significant returns. But what about buying land in the virtual world that is the metaverse? Even though it isn’t like playing casino games in a minimum $1 deposit casino where you can get returns immediately, it is still a worthwhile investment.
Can we even still call this land “real” estate considering it is in a virtual world. Whatever the case, celebrities and companies are buying land in the metaverse.
But have you ever wondered which companies are buying land in the metaverse or what they're using it for? Let's explore some of the most notable companies that have bought land in the metaverse.
Companies That Have Invested in Land In The Metaverse
Check out some companies buying land in the metaverse and what they're building on it.
One of the hottest announcements to rock the metaverse world is Samsung announcing its metaverse location called Samsung 837X. Samsung is an electronics and technology company, so their leap to the metaverse isn't all that surprising. Other technology companies are either developing products in the metaverse or making considerable investments in its development.
Samsung purchased its land in the metaverse through Decentraland, modeled on the Samsung 837 Store in New York City. In the real-life store, you can experience different types of products directly, which is a similar experience to games, live performances, NFTs, and product introductions. Samsung used the 837X on February 9 during the Unpacked event, which was the launch of the Galaxy S22 phone.
This is one of those outliers you wouldn't expect to buy properties in the metaverse as their business isn’t typically fashionable or fun. HSBC is a global financial services provider that has acquired land in the metaverse through The sandbox. Since the purchase, HSBC has announced that it plans to create innovative brand experiences for all its customers – new and existing.
It is unclear if it is banking endeavors they wish to pursue on the virtual land, but there were a lot of e-sports, and an HSBC stadium featured on the promotional materials. Time will tell what HSBC intends to develop on the land as more investments and developments ramp up in the metaverse.
The world-famous shoe company announced that it had purchased land in The Sandbox and premiered some of its NFT collections. Adidas bought a considerable amount of land they plan to fill with unique branded content of their products, experiences, and other items that visitors can purchase.
Today, like other companies that have bought lands in the metaverse, there isn't much information on the details of their plans. However, Adidas has described the metaverse as a natural place for their Adidas Originals line to enter because of the endless possibilities, the ability for people to express themselves and get rewarded for out-of-the-box ideas.
It isn't out of the box that one of the pioneer companies in home computing and video games has taken a foray into the metaverse. Atari is one of the few companies with virtual lands from two metaverse platforms – The sandbox and Decentraland.
In their lots, they have built interactive games and many Atari-themed events for visitors to play and experience the thrill and uniqueness of the metaverse. Atari has also announced plans to expand its digital gaming opportunities across the board, and we expect this to ramp up as the metaverse becomes more popular and accessible.
The Hong Kong branch of the big four accounting firm PricewaterhouseCoopers purchased a piece of land in The Sandbox last December. Even though it might take time for the metaverse to start producing new accounting breakthroughs, PWC wants to get in front of it.
A partner in the Hong Kong branch that made the purchase, William Gee, said that the metaverse has many opportunities for organizations to create value with innovative business models and foster new communication methods between customers and communities.
As many types of businesses flock to the metaverse, there is a need for diversity in the infrastructure built. Molson Coors is providing the Happy Hour solution for the metaverse in the form of the Meta Lite Bar.
They announced the bar just as the Super Bowl was around the corner. It has virtual beers and pool tables and is the metaverse's solution to a bar. Visitors can win natural suds in their establishment and experience ground-breaking content on Game day.
This is an odd one on the list as Prager Metis is an accounting firm. At first glance, it might be hard to understand why they would buy land in the metaverse as it seems suited to video games, entertainment, or technology companies.
However, Prager Metis opened its virtual office building in Decentraland last December. Their CEO made a statement saying the reason for their purchase is seeing as the metaverse is going to replace the internet, businesses are also going to use it.
You Can Also Invest in Metaverse Land
Even though it might not seem like it now, almost all businesses have a role in the metaverse. If you’re looking to buy land in the metaverse, another thing to know is that the metaverse is at a very speculative price, and many risks are involved.
This article does not necessarily reflect the opinions of the editors or management of EconoTimes.
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