The Metaverse could represent a $1 trillion market by the end of the decade.

As we collectively gear up for the third iteration of the internet, Web3, many brands are trying to create virtual personas while staying true to their physical presence. With more interest peeking in the Metaverse, many are speculating this is similar to the Web1 boom of the late 90s and early 2000s but on a much larger scale. 

Grayscale Investment’s recent report on the Metaverse projected that it will be worth roughly $1 trillion dollars by the end of the decade. This staggering number does not come as a complete surprise with many conglomerates such as internet-native companies like FANG (Facebook, Apple, Netflix, Google) already making their presence known on the Metaverse.  Fashion brands who have not been too keen on exhibitionist ventures through technological advancements are now at the forefront of Web3 building their own virtual worlds and selling NFTs globally. 

Not enough to get you to want to venture into the world of Web3? Here are 5 reasons why brands and investors alike should look into positioning themselves for The Metaverse. 

1. Virtual Reality is Here to Stay

Virtual reality can only be accessed through the internet and was first popularized by gaming systems. Virtual reality allows people to escape from their current physical environment to a more imaginative world. 

This concept is being expanded by the likes of Meta, formerly known as Facebook. Meta is creating spaces for virtual avatars of real people to explore, shop and interact with other virtual avatars. 

Another major success in the Metaverse is Nike who created their own virtual world Nikeland allowing sneakerheads to roam around and shop on their very own Metaverse hosted on Roblox. 

2. VR Headsets are Becoming The Norm

As society moves into the next phase of the internet, two-dimensional virtual meetings via software like Zoom and GoogleMeets will be elevated to more interactive immersive experiences with VR Headsets. 

VR Headsets allow people to interact with virtual worlds using glasses such as Oculus. These worlds create all-encompassing sensory experiences that can bring together people all across the globe. 

3. Accessibility Anywhere, Anytime

With other pandemics looming and travel becoming less accessible, virtual reality has become more of the reality for companies stationed globally. Working from home has become normalized during the pandemic with companies moving from physical models to both hybrid and virtual systems. 

Innovative internet companies are looking for ways to create accessibility for people who prefer to stay at home for work, shopping and other sorts of day-to-day activities. 

4. Sustainability is at its Forefront

With the increased pressure to create solutions to combat the climate crisis, the Metaverse creates that sustainable solution. With a decreased carbon footprint, the Metaverse brings ideologies of sustainability by having people meet in virtual realities. This has led fashion brands to venture into the metaverse.

The fashion industry has been notorious for being a heavy polluter and increased pressure from climate activists has left many brands looking for ways to create designs sustainably. The Metaverse allows these brands that avenue by reducing their carbon footprint and vesting their efforts into this virtual world. 

5. Web3 is still in its Early Stage

People who invested first in the dot com boom were among the first to reap the benefits of the internet. With Web3 slowly making its way into our lives, getting in while it’s still new will most likely garner a huge return on investment. 

Whether it’s a brand looking to create an NFT drop to complement their new physical collection or an investor looking towards diversifying their portfolio, the Metaverse is a great place to start.

Many are speculating great things for the metaverse with the rise of virtualization in several industries. As this virtual space expands, fashion brands are looking for more ways to up their anty. Creating personalized virtual showrooms through ORDRE Meta is one way to level up a brand’s presence, virtually.

With customisable bespoke virtual showrooms built to replicate the brand’s physical showroom, ORDRE Meta creates the ultimate immersive experience for brands wanting to expand into the metaverse. These showrooms are constantly updated with the latest collections through 360 imagery provided by ORB360.