It is an industry that many on Wall Street anticipate will reach a value of more than $1 trillion by the end of this decade. The Metaverse is everywhere these days and although most still don’t understand what it truly is, some of the biggest companies in the world are investing heavily into it. Companies like Meta Platforms (NASDAQ:META), NVIDIA (NASDAQ:NVDA), and Microsoft (NASDAQ:MSFT) top this list in terms of building the infrastructure for the Metaverse world.
Home improvement giant Lowe’s (NYSE:LOW) has beaten long-time rival Home Depot (NYSE:HD) into the newest iteration of the internet. Lowe’s is selling digital assets to online creators, rather than retailing its physical goods. The company is also launching a line of NFTs that will be available in the Decentraland ecosystem.
The move follows other retail companies like SFLMaven (OTC:SFLM), a firm that recently launched the world’s first NFT-jewelry site in the Decentraland Metaverse. The company is looking to leverage its virtual presence into selling NFTs for in-game usage and for dressing user’s avatars. Just as with Lowe’s, SFLMaven is using the Metaverse for both retail and creative solutions. SFLMaven anticipates things like Metaverse events and even virtual weddings that will look to using the NFT-jewelry for playable characters. Both SFLMaven and Lowe’s are proving that the Metaverse can be used for things other than strictly another avenue to sell existing products.
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