Major Brands are Spending Millions on Metaverse

Major companies are just starting to spend millions of dollars to get their spot in the metaverse.  So far, companies like Metaverse Group, a subsidiary of Corp. (NEO:COIN) (OTCQB:SMURF) — the only public company that owns metaverse real estate – just announced a lease agreement for metaverse land with Skechers USA (NYSE:SKX).  Even better, it’s recurring revenue, which many Web3 companies do not have.

Nike Inc. (NYSE:NKE) just filed for several new trademarks to design and sell virtual Nike sneakers and apparel in the metaverse.  Nike even acquired RTKFT, which makes NFTs and sneakers for the virtual world.

CVS Corp. (NYSE:CVS) just filed for a trademark to sell virtual goods, NFTs, and could even provide healthcare services, including prescription drugs and personal care products.

Walmart Inc. (NYSE:WMT) “filed several new trademarks late last month that indicate its intent to make and sell virtual goods, including electronics, home decorations, toys, sporting goods and personal care products. In a separate filing, Walmart said it would offer users a virtual currency, as well as NFTs,” says CNBC.

No wonder analysts say the metaverse could be worth billions of dollars.  Bloomberg Intelligence says it could reach $800 billion by 2024.