An underlying message from many of the big tech companies who reported earnings this past week was that the Metaverse is coming and everyone is involved. Companies like Meta Platforms (NASDAQ:FB) and Microsoft (NASDAQ:MSFT) made references to the Metaverse during their earnings calls. Meta even announced it would be opening its own retail store to sell Metaverse gear like its Oculus headsets. We don’t know when the Metaverse will arrive, but when it does, the narrative is that it will completely change the way we exist online.
Snap (NYSE:SNAP) founder Evan Spiegel has a different take on the matter. When recently asked about the Metaverse, Spiegel replied that it is still a very hypothetical construct. Even though his company deals directly with AR/VR technology, Spiegel thinks most people still prefer the real world to the virtual one. This might be the case now but over the next decade, major corporations are making a huge one-sided bet on the virtual world.
Gaming and eCommerce
Two of the largest industries that are gearing up for the Metaverse are gaming and eCommerce. To be clear, we are not talking about your typical gaming experience. Blockchain-based play to earn games and Meta-environments are rapidly gaining popularity. Projects like the Sandbox or Decentraland have already seen major institutional buy-in in an industry that is not usually the target of big money.
At the nexus of these two markets sit companies that are embracing digital transformation. eCommerce sites have essentially always had one foot in the Metaverse, offering an online experience for consumers. Technology has advanced to the point where people can make real-time changes to their clothing, uniquely construct a sneaker, or even fully customize a vehicle through an online portal.
A New NFT Partnership
In the Metaverse, bet on companies that understand the technology and are already making moves before the great migration. A small company called SFLMaven (OTC:SFLM) recently bought a plot of land in Decentraland for a Metaverse store. While in real life, SFLMaven is an eBay site that sells high-end jewelry, in the Metaverse, the company is transitioning to the NFT market and has recently partnered with MetaSkins Studios to launch an exclusive line of NFT jewelry.
What does that exactly mean? For players in Decentraland, NFTs are seen as an investment over time. Players can purchase them at stores like SFLMaven and decorate characters or alternatively trade or flip them in the marketplace. This creates an in-game economy and an efficient market for the price of NFTs. Creators and sellers of NFTs, often make a portion of every resale thus creating a potentially never-ending stream of recurring revenue.
MetaSkins has already teamed up with major brands like Puma and Italian clothing company, Etro. With a background in bridging the divide between retail and the Metaverse, the SFLMaven partnership could be a lucrative deal for both sides. Other major retail brands that have Metaverse stores include Adidas and Gucci. Some companies that own land as well? Samsung, Tokens.com, and JPMorgan Chase.
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$SFLM – SFLMaven, Inc
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