The Metaverse – How brands are boldly embracing marketing's new frontier
Updated: Aug 5, 2022
The power of the metaverse
Brands like Warner Bros., Hyundai and Gucci have built their own virtual worlds; Coca-Cola, Anheuser-Busch and Crockpot are tiptoeing into the space by selling NFTs—non-fungible tokens bought and sold on blockchain technology allowing people to own digital items like images or videos—and Sephora, Nike and HBO are leaning into AR and VR experiences. Facebook is so enraptured that the social media giant intends to spend $10 billion to become a metaverse company in the next five years, with immediate plans to change its name and hire 10,000 people in Europe to oversee what many predict will be a holding company under which Facebook, Instagram, WhatsApp, Oculus and others will exist, according to The Verge.