- Disney and Ralph Lauren are among well-known companies getting into the metaverse.
- Bernstein Research had a rundown of companies that have stated their metaverse ambitions in a primer on Thursday.
- The metaverse market could grow into $2 trillion market, the firm said.
Ralph Lauren and Disney are among well-known consumer brands that are delving into the metaverse, the online space merging the physical and digital worlds that is growing into a potentially massive market, according to Bernstein Research.
“How big can it be? Really big. The combined annual run-rate of the most relevant markets is $2 trillion and growing,” said Bernstein Research in a primer about the metaverse published Thursday. “The timing is still unknown, as we’re early on the adoption curve and current metaverse technology doesn’t offer the necessary value proposition for many users,” it said.
The note included some household names with plans for the metaverse. Here are a few:
The fashion house has been collaborating with Zepeto, which allows people to create their own avatars that live, work, and play in the 3-D world. Its clothing recently appeared on the avatars of TXT, a popular K-pop boy group.
The company that runs the Match.com and Tinder dating sites this year acquired Hyperconnect, a South Korea-based video tech and social discovery company, for $1.7 billion. Hyperconnect has been testing Single Town, bringing avatar-based dating to the metaverse.
The CEO of the entertainment juggernaut, Bob Chapek, said the company is planning to create its own metaverse but he didn’t outline specifics during the latest quarterly earnings call.
The networking and dating site is working on applications in the metaverse, with traction building for its Bumble BFF platform for making platonic friends.
In 2022, the company plans to roll out Mesh for Microsoft Teams. The company says it will combine the capabilities of Microsoft Mesh, which allows people in different physical locations “to join collaborative and shared holographic experiences,” with the productivity tools of Microsoft Teams.