In what might seem like an odd partnership, the cosmetics company L’Oreal (OTC: LRLCY) and Meta Platforms (NASDAQ: META) are joining forces to help Web3 and Metaverse startups in France. The move is just the latest in the industry, as global retail brands continue to pile into the Metaverse without hesitation. Despite a crypto winter and somewhat reluctant adoption of the Metaverse, major companies continue to invest in the digital space.
Meta Platforms is making both positive and negative headlines ahead of its third-quarter earnings call later this week. The stock has lagged behind other tech giants after reporting declining growth. One thing that is certain is that Meta remains bullish on the Metaverse and other companies are following its lead.
These brands include Nike (NYSE: NKE), SFLMaven (OTC: SFLM), and even Walmart (NYSE: WMT). While Nike and Walmart are providing more traditional retail experiences, SFLMaven is introducing some innovative new ideas. It is dropping its second NFT line in early 2023 and is looking into creating a novel technology that would display NFT values with avatars in the Decentraland environment. SFLMaven is no longer just a luxury jewelry seller on eBay and is establishing itself as one of the new leaders in the Metaverse for the future.
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