Branding in the Metaverse - How Soon is Now?

  • February 27, 2022
  • Anastassia Trifonova

As the world continues to struggle with the COVID-19 pandemic and becomes increasingly reliant on digital means to attend to daily tasks such as socializing, learning, working and shopping, what once seemed to be only suitable subject matter for the science fiction genre, is now becoming a reality – a virtual one.

While the term the “Metaverse” has been around for several years, last year’s announcement by Facebook that it would be changing its name to Meta to better reflect its new focus on building the Metaverse, has prompted many companies to seek out new opportunities ‘beyond the universe’.[1]  In fact, as the technology sector races to develop various Metaverses, companies that are known for their traditional goods and services have taken active steps to enter the Metaverse through gaming, social networks, and e-commerce. Digital fashion, in particular, is becoming more popular as fashion companies have started to collaborate with game developers to launch exclusive digital collections and non-fungible tokens (“NFTs”).[2] As a result, companies no longer just need to worry about protecting their brands in real life (“IRL”) but also in the Metaverse.