The ecosystems of the Blockchain metavese gain ground as brands create digital experiences

Companies of one billion dollars take over the metaverse while consumers have shown increased interest in virtual, interactive and three -dimensional experiences that take place online.

While the "Metavevers" is still a new concept, the Strategy Analytics research company found that the world metavese market should reach nearly $ 42 billion by 2026.This could very well be the case, because a handful of companies, including Nike and Walmart, have started to explore the experiences of consumers in the metarant environments.

NFT utility for brands launching in the metoverse

To understand how and why the brands take advantage of the metavese, it is essential to underline the role that the NFT, or non -fungible tokens, play within these ecosystems.While the year 2021 saw an influx of NFT, the rise in the metavese should highlight the importance of the utility behind the NFT.

Adrian Baschuk, founding partner of Ethernity Chain-an authenticated and licensed NFT platform-told Cointelegraph that each brand, company and notable personality will eventually have a metavese and integration NFT:

Given this, Baschuk shared that Ethernity recently brought her IP address to The Sandbox, a metavese ecosystem based on blockchain.More specifically, Ethernity has acquired desirable land in The Sandbox to host a gallery and a NFT store entirely under license.Baschuk explained that this will allow The Sandbox users to buy Ethernity NFT clothing and collectibles.

According to Baschuk, these portable NFTs include athlete jerseys, which will be used to dress and provide special powers to The Sandbox avatars."Zeke and Dak of the Dallas Cowboys will kick off, because the jerseys and portable epaulettes of players will strengthen the skills and powers of a user's avatars," he said.

Although this specific example can appeal to the community of The Sandbox players, the underlying concept is universal for the brands entering the metoverse.For example, Baschuk explained that NFT in virtual ecosystems allow companies to monetize assets on a blockchain network, thus improving interactivity for consumers and fans.

To put this in perspective, the giant of the consumer electronics Samsung recently announced that it will have a virtual replica of its physical store in New York located within Deccentraland, another forever.The store, known as “Samsung 837x Shop», will be accessible to DECENTRALAND for a limited period.

A Samsung spokesperson told Cointelegraph that the establishment of Samsung 837X as a Métavevese brand will offer consumers an unlimited possibility of connecting to Samsung and its products immersively:

The Samsung spokesperson also mentioned that Decentraland specifically gave the company a platform to allow real experience of web metavese.They noted that the Samsung community wanted a Métiversatus store to offer interactive quests that would allow participants to win portable objects such as NFT badges or opportunities to win exclusive Samsung brand clothes for avatars.

Overall, Samsung explained that its 837x store will serve as a basis for the future, which will offer significant utility to its visitors.In turn, the company studies the means by which the badges obtained at 837X will offer access and utility for future events and experiences in its virtual space."In the future, we hope that all those who visit our world will be able to improve their online experience in the metavese and their real world experience with Samsung products," said Samsung spokesperson.

While Samsung was one of the first major brands to launch a virtual boutique in Decentraland this year, other organizations follow the plunge.More recently, Tennis Australia, the organizer of the Australian Open (AO), has teamed up with Decentraland to host the AO in the metavese.This virtual environment contains key areas of Melbourne Park, notably the Rod Laver Arena and the Grand Slam Park.AO DECENTRALAND 2022 will take place from January 17 to 30, reflecting the real tournament calendar.

Ridley Plummer, Tennis Australia NFT and Métalese project manager, told Cointelegraph that it was a natural progression for the event to develop in the metavese.Plummer shared that it was also the case due to the border closures caused by the COVVI-19 pandemic, which made fans to attend the event in person:

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Plummer explained that the AO metavese environment includes entertainment centers where fans can watch reruns of tennis matches, as well as historic images of past tournaments.He noted that during the last weekend of the event, fans will have access to backstage images that will show players during training sessions and more.

Plummer added that decentraland users can walk in Melbourne Park with their avatars to collect portable objects and play virtual games to win NFT."There are elements and brands that we can add to decentraland which also improve the experiences of our partners from the point of view of the game to win.We have a series of gamification within decentraland.

Will the blockchain-based metavese offer more, but will the general public impose themselves?

Given the unique experiences that NFTs can bring to consumers and fans, it is just as important to highlight the advantages offered by a metavenic ecosystem based on blockchain.For example, while many brands have started involving users via connected environments, blockchain networks allow the property of digital assets while demonstrating the real power of the web3.

Developing on this subject, Adam de Cat, manager of partnerships at DECENTRALAND, told Cointelegraph that the difference between a metavese based on blockchain and a non -blockchain metavese is interoperability:

De Cat added that open source platforms like decentraland also allow users to connect their digital portfolios to the platform to access versions and particular scenes that could be exclusive to a particular NFT that they already hold: “We are still in the inflament of exploration, and it is exciting to think of the possibilities that go ahead with web3.

Regarding interoperability, Sébastien Borget, co-founder of The Sandbox, told Cointelegraph that metoverse allows a digital economy, noting that a real virtual ecosystem should allow an avatar to be used on a variety ofplatforms: “Metaverse means that your avatar can work in a myriad of virtual worlds, with the same identity.This is only possible thanks to Blockchain technology, which allows users to control their identity, their data and their currency.

Borget has also pointed out that virtual worlds have existed for over 20 years, adding that many current metovers are only centralized platforms:

However, while the metavers based on blockchain are capable of offering more to companies and their users, the question of whether this concept will propagate to the general public remains.De Cat noticed that it was optimistic about the adoption by the general public, noting that decentraland saw an almost equal number of guest portfolios and users with existing digital wallets use the platform.He shared that he is impatiently awaiting the comments of the AO event."I can't wait to see what's going on during AO on decentraland.There are just enough market studies to find out the retention rate and user experience for events like AO, and whether these users are native of cryptography or not.

It should also be noted that Samsung said that the company had received an extremely positive response from visitors to the Samsung 837X.“Based on the answer we received, we have seen the attendance of the Samsung 837X both by experienced users and new explorers.For us, it's very exciting.

Will metavers experiences replace real life?

Metal experiences could be the next great innovation for brands and users, but some may wonder if virtual environments will fully replace real experiences.After all, this could very well be the case due to the advanced capacities provided in the Metavers based on blockchain.

For example, while the NFT utility was created thanks to Metaversse, the electronic commerce sector of a dollars Billion is generally disturbed.To understand the scope of this, Justin Banon, co-founder of Boson Protocol-a decentralized business protocol-told Cointelegraph that brands were looking for commercial opportunities in the end."The interest of Metaversse is that it is programmable and playable, thus offering complete features for a new wave of business.»

In turn, Banon explained that Boson Protocol bought one of the largest plots of decentraland land to host virtual shops allowing to buy NFT portable devices, then exchange them for online physical items or instores.For example, Boson Protocol recently launched a virtual boutique with Dressx, a digital fashion clothing retailer, allowing the company to sell items to metovers of the metavers who can be exchanged for physical versions. « Nous recevons de plus en plus de demandes pour les fonctionnalités Web3, comme les offres “digiphysiques».There is no longer any request for vanilla e-commerce, "he said.

Although this could be the case, DE CATU has commented that the time spent in the metavese depends on individual users:

Although it is difficult to predict the future traction of the metavese, the experts in the sector remain convinced that all brands will eventually adopt a metavese model.Borget said that it expects this trend to accelerate because brands are looking for new ways to digestly engage with users. “Il est logique que les marques redonnent directement plus de valeur aux utilisateurs, plutôt que de dépenser en publicité», a-t-il fait remarquer.And DE CATI has added that although "the metavese" is a fashionable subject, he thinks that these virtual worlds are just an extension of social media platforms: