Roundup: Companies Entering Metaverse

$Nike(NKE.US)$ has signaled its intentions to push further into the virtual world with the acquisition of digital sneaker company RTFKT and a collaboration with $Roblox(RBLX.US)$ for Nikeland.

$adidas AG(ADDYY.US)$ partnered with several well-known NFT projects to launch its own NFTs and plans on growing in the space.The announcement of NFTs by Walmart come as many public and large companies are appealing to new and legacy fan bases.

$PepsiCo(PEP.US)$ , $Anheuser-Busch Inbev(BUD.US)$ and others have launched NFT collections. Companies like $Gap Inc(GPS.US)$ and Coach have launched NFT that also provide utility with a connection to physical items along with the digital goods.

Walmart has a huge network of customers, and its push into the metaverse could be a major validation moment for the sector. While some have brushed off the metaverse, including $Tesla(TSLA.US)$ CEO Elon Musk calling it a “marketing buzzword,” others see the opportunity as very real.

Investors are actively seeking out ways to make money in the metaverse from NFTs, virtual land and public stocks with metaverse plans. The $ROUNDHILL BALL METAVERSE ETF(META.US)$ launched in June 2021 and has amassed over $900 million in assets under management.