This past March, more than 70 brands participated in Decentraland’s Metaverse Fashion Week. Tommy Hilfiger, Dolce & Gabbana, Estée Lauder, Hogan, Dundas and more hosted events, panel sessions, and sold digital and physical goods in a platform first.

Over the course of the week, 108,000 unique attendees participated in the event, demonstrating the growing traction of metaverse platforms and opportunities for brands to engage with users across this new medium.

While we are at the infancy of this new technology, there is little doubt that it presents significant opportunities to change the way people interact with each other and with brands.

But, what exactly is the metaverse? How is it defined? Who is engaging and what are they doing? And what are the opportunities for brands?

Our “Brands in the Verse: Platforms, Users & Opportunities” report covers these in-depth and offers a framework for companies to engage and participate in this unique opportunity.

The metaverse portends outstanding opportunities for brands. JP Morgan has reported that the metaverse is “likely to infiltrate every sector in some way in the coming years, with the market opportunity estimated at over $1 trillion in yearly revenues”. 

Recent surveys back this up.metaverse infographic

To understand what the metaverse might have in store for your brand, we offer various workshops and opportunities for companies to immerse themselves in the space including:

  • A primer that covers metaverse basics and get you and your team up to speed on the opportunities and use cases with our Metaverse Center of Excellence.
  • Platform demos and immersion sessions to understand the environment, form factors, and engagement opportunities with our foremost metaverse experts.
  • A design-thinking workshop to identify specific opportunities for your brand in the space.
  • The development of metaverse strategy.

To say that we are excited about the opportunities to come is an understatement. We’ve already seen brands activating across the space, innovating, and learning how to use this new medium as a way to connect with their audiences.

As we continue our study of the metaverse, we will be releasing regular reports, including those that delve deeply into the space and Web3 technologies and implications.

Matt Collette is Managing Director, Digital Growth in Canada.