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Companies in the Metaverse – A Growing Phenomenon in Different Industries

Last updated 29th Nov 2022
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According to Fortune Business Insights, the size of the global metaverse market was $63.83 billion in 2021. Experts agree that the metaverse is in for huge growth in the coming years. They estimate its value will rise to an impressive $1,527 billion in 2029, which is more than 23 times the current market size.

Metaverse is a growing phenomenon within all kinds of industries. More companies in social media, gaming, content creation, online shopping, and other areas are entering this immersive space. At Bankless Times, we created a list of top companies and brands that have already joined the metaverse!

Companies That Exist in the Metaverse

We’ll begin with the list of companies that have already invested and established their presence in the Metaverse. You’ll find many big names on the list, but also some promising businesses. Here’s an overview of all companies worth mentioning!

1. Meta

Mark Zuckerberg changed the world with Facebook, and he wants to repeat that success with Meta. Meta is a Facebook rebrand targeting the development of the company’s metaverse. According to reports, Zuckerberg plans to invest $50 million only in the initial stage of developing virtual reality.

Meta reported a $3 billion loss in the first three months of 2022. The expectations are it could take up to 15 years to achieve notable results. The company invested billions in VR and AR technologies, and its goal is to gain an initial advantage over the competition in the market.

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2. Microsoft

Microsoft and Bill Gates have played a huge role in many technological breakthroughs in the last 50 years. It’s no surprise the company thinks about the future and aims to build a comprehensive metaverse.

The latest move to acquire Activision Blizzard is in line with this strategy. The gaming giant should help with developing a play-to-earn approach that’s likely to be a part of the metaverse. Microsoft invests huge funds in creating a photorealistic version of users who want to enter the metaverse. Thanks to their Holoportation, you won’t have to create an avatar. Instead, the technology would create your “virtual appearance” instantly.

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3. Adobe

Adobe is another company aiming to establish itself as a content creator in the metaverse. The company collaborated with Ben & Jerry’s in virtual photography and Smithsonian for an AR experience. It mentions the main goal is to help brands to create an immersive shopping experience.

Substance 3D and Aero are among the main metaverse tools created by Adobe. As an experienced software creator, the company is skilled at combining different layers and solutions, helping to provide an all-around and immersive experience for its metaverse users.

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4. Nvidia

Although it’s had some rough couple of years, Nvidia is still a graphic card manufacturing giant. It manufactures PCs, consoles, and other hardware markets. As an industry leader, it’s only natural Nvidia is preparing for the metaverse.

The company remains dedicated to developing new technology and equipment. It seems that the Omniverse tool is Nvidia’s main priority. It aims to provide a development environment for 3D design and simulations. The company also plans to create other applications that would help boost the metaverse experience.

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5. Ralph Lauren

Zepeto is a developer specializing in creating unique avatars, and it only made sense for Ralph Lauren to partner with them when entering the metaverse. The fashion brand’s idea is to offer an immersive shopping experience in a unique online community.

Users can visit NYC in the virtual world and participate in interesting events. They can see virtual replications of actual landmarks and explore the world while completing different quests. Apart from this, Ralph Lauren also has a curated selection of NFT collectibles.

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6. Gucci

Gucci is a big name in the fashion industry, and they are hoping to maintain that reputation in the metaverse. The first step toward that is launching a virtual store on Roblox, but that only scratched the surface of Gucci’s plans.

The company registered on The Sandbox and purchased virtual land on the platform. Gucci Vault is an important addition planned for building a metaverse focused on fashion. The store sells NFTs and Vintage bags and will feature Avatars with wearable fashion items.

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7. Animal Concerts

Animal Concerts focuses on providing music fans with an immersive experience by streaming interactive concerts. The company has already collaborated with Busta Rhymes, FUTURE, and Alicia Keys. It uses a freemium model that makes the platform accessible to all.

Users can spend the ANML token for music concert transactions. Apart from an immersive fan experience, Animal Concerts also has NFT collectibles featuring reputable artists.

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8. Spores

Spores is a metaverse publisher and a GameFi company aiming to assist corporate and entertainment IP brands in establishing their web3 presence. The platform can prepare, launch and manage NFT stack projects.

The brand launched an NFT marketplace, and the roadmap also specifies setting up a game store on Ethereum and Polygon and many other features. The plan is for Spores to implement all functions by 2023.

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9. Prada

Prada and Adidas embarked on a joint journey of creating NFT collectibles. The items were created by artists who specialize in the design, but also crypto and fashion experts. But Prada’s main focus is on featuring a virtual reality dimension in its metaverse.

The idea is to offer an engaging and intense journey where visitors can explore fashion shows and get a unique behind-the-scenes look. With the immersive experience it already offers and plenty of potential, Prada is on a good way to positioning itself as an important player in the metaverse.

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10. Balmain

Balmain picked MINTNFT as the platform where it will launch its NFT items. It also plans to launch the Balmain Thread. It’s the unique name for the company’s metaverse, where users will be able to get access to the brand’s designs and events.

At this point, there’s a waitlist on the official website. It allows you to apply to get early information on product drops but also access VIP events and other benefits.

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11. H&M

H&M is present in over 75 countries and has already positioned itself as a reputable fashion brand. The company showed forward thinking by building a virtual showroom in April 2022. It’s only available in Central Europe at this point, but the brand plans on expanding it to other regions.

Before the virtual showroom, H&M also launched virtual garments in January 2022. The wearables were only available digitally, and the chosen participants sent their photos to designers. They styled them in the selected piece, with the photo being available for sharing online.

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12. YSL

Yves Saint Laurent is another fashion brand that recognized the potential of web3 and metaverse. At this point, YSL features social token drops made by a couple of inspiring artists. It’s a way to support the program “Abuse is not love.”

The plan is to launch an NFT booth with virtual makeup and options to get a unique NFT collectible. At this point, you can download the YSL Beauty Wallet to your device and collect Beauty Blocks NFTs for free.

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13. Starbucks

Many say that Starbucks is behind schedule when it comes to entering the metaverse. However, the company announced its Starbucks Odyssey platform in September, and it should be ready to release by the end of 2022.

Starbucks will offer unique NFTs but also a wide range of rewards, events, and interactive activities for its metaverse users. Using Odyssey will only require an app, and there won’t be a need to have a VR headset.

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14. McDonald’s

McDonald’s is not a stranger to innovations, as their drive-thru windows were a revolutionary idea back in the 1980s. The company founded a Digital Information Team in 2014 and started investing in AI to serve customers better.

The bid to take over Dynamic Yield, the promising AI startup from Israel, was a whopping $300 million. McDonald’s also took over Apprente, an AI startup expert in voice technology. Some reports indicate the brand will sell virtual goods and create unique NFTs.

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15. Coca Cola

Coca-Cola is among the most famous brands worldwide. Its expansion to the metaverse is necessary, but the company has only made modest steps up to this point. Coca-Cola picked OpenSea to launch an NFT collection and released the Coca-Cola Friendship Loot Box in 2021.

The company’s NFTs are suitable to use throughout the universe. Coca-Cola offered a real refrigerator, loaded with its drinks, for the winner. It’s interesting that the winning bid was over $75,000.

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16. Epic Games

Epic Games had huge success with Fortnite, and it was brave enough to open an online game-selling store that proved a worthy competitor to Steam. The public expects much from Epic in the metaverse, and the brand has started investing in these features already.

Game creators will have a generous selection of Web 3.0 features and start collaborating with Spire Animation Studios. That investment should allow moving objects, characters, and other assets into the metaverse. Epic revealed that its partnership with Lego is a step toward securing a kid-friendly place to play in the metaverse.

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17. Roblox

Roblox is among those companies that have already launched a metaverse. It showed how the metaverse doesn’t need to have AR, VR, or crypto features. Its main purpose is actually to offer a fun social experience, and that’s what Roblox does.

You can participate in existing games or create a unique virtual world on Roblox. The choices are endless, so you can enjoy sporting games in the afternoon and try FPS ones in the evening.

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18. Nike

Nike recognized the metaverse potential in 2020 when the company acquired RTFKT. It’s a studio that designs digital sneakers, and the ones designed for Nike were sold for over $100,000. The next project will include launching clothing apparel.

The company established a store on Roblox called Nikeland. It has had visitors from over 200 countries and welcomed over seven million people. As the leading sporting clothes apparel brand, Nike has huge potential in the metaverse.

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19. Wendy’s

The fast-food restaurant aims to follow trends and is looking for ways to enter the metaverse. Wendy’s current efforts are modest, but a younger audience reacted to them well. The company’s redheaded mascot has a dedicated Mii from Nintendo Wii.

Another addition is a new character in Fortnite, the famous online multiplayer game. The Food Fight featured a character tasked to annihilate frozen beef. Apart from being fun, the message Wendy sent is that they don’t use frozen beef but only fresh produce. The unique approach proved to be a great way of improving brand awareness, and Wendy received multiple recognitions from influencers.

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20. Samsung

Samsung is a tech giant famous for its Galaxy smartphone series, but also smart TVs and other products. It took a while until it joined the metaverse in January 2022. But it didn’t take long for Samsung to establish a name in the virtual world.

The company launched a Samsung 837X store on Decentraland. They replicated it based on an actual store in New York City. Up until now, the store has had over 120,000 visitors. The company added new features in the form of characters, missions, etc.

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21. Hyundai

Hyundai is another platform that established a presence on Roblox. However, it’s among the first ones that focused on offering users an automotive experience. The company focused on sending a message about its sustainability initiative and established a Roblox platform.

Hyundai Mobility Adventure has been around for over a year. The platform features characters and presents Hyundai’s technology while sending a message about sustainable transportation.

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22. Sandbox

Sandbox is a community-driven platform focused on gaming and voxel art. Creators can make and animate voxel art ready for export, and Sandbox also has a marketplace to trade assets.

A crucial feature of the Sandbox’s metaverse is the Game Maker. It gives huge freedom in creating games, and the Game Maker Fund lets creators get paid to make titles.

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23. Adidas

Online shopping in the metaverse has become popular, and clothing and shoe brands are looking to establish their positions in the new market. As for Adidas, they used a similar approach to Nike. The company launched collaboration pieces and originals on OpenSea.

The auctions proved to be successful since they offered customers a chance to own unique assets while boosting individuality and creativity. Adidas attracted reputable collections, such as the Bored Ape Yacht Club, which helped the community pay more attention to this brand.

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24. Ferrari

Ferrari found a wise way to use metaverse to promote luxury cars before they hit the market. The company announced the release of the Ferrari 296 FTB in July 2021. And it allowed Fortnite users to test the vehicle first.

The battle royale game attracts thousands of players worldwide, making it the perfect platform to hype the upcoming Ferrari model. It seems the company is happy with the campaign results, so it wouldn’t be a surprise to see it making new moves in the metaverse soon.

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25. Christie’s

Christie’s is a famous auction place that focuses on unique items. It only made sense they would make a journey into the metaverse with a unique digital artwork collection. The company worked with Beeple, a famous digital artist.

Beeple created 5,000 digital items that ended up selling for over $69 million. Christie’s recognized the opportunity that NFT provides for trading collectors’ items. The auction house attracted a huge number of bidders and buyers, ensuring a big metaverse success for the company.

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26. Atari

Atari is a pioneer company in the gaming industry, and it was the top brand several decades ago. It’s been a long time since then, but the brand sees the chance of making a comeback with the metaverse.

The company released NFT collectibles with motifs from its famous classic games, such as Pong. This is only the beginning since Atari has a plan to launch a crypto casino. It will include roulette and poker, but also Pong and other classics. The company even has plans to launch a land-based casino and hotel in Las Vegas.

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27. Alibaba

Alibaba is a famous Chinese e-commerce brand that’s among the top industry names, along with Amazon. The company launched Alibaba Cloud in 2009, working on technologies that make the metaverse. That includes holographic construction and simulation, integration and linkage of real and virtual worlds.

There’s a big question about how Alibaba would navigate regulations in China. The local government implemented barriers due to concerns regarding fraud, money laundering, and other potential issues.

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Metaverse Development Companies

Some companies recognized the metaverse potential and started developing platforms for different industries. Thanks to these developers, companies have an option to join the metaverse quickly. Here’s a list of top metaverse development teams!

28. Decentraland

As the name suggests, this is a decentralized platform offered to secure companies a chance to develop a metaverse experience for their customers. Decentraland includes a mixture of applications and tools that allow making 3D apps, games, and other content.

Decentraland offers 3D design and art, as well as implementing cryptocurrencies and virtual reality features. It has already become an attractive platform, especially due to the decentralized concept.

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29. Unity

Unity is the company that designed a development platform for creating PC, console, and mobile games. The estimation is the number of games made with Unity will increase by over 93% in 2021, and that trend is likely to continue.

That gives the company a lot of wiggle room to build a reputable position in the metaverse. Apart from creating a Unity metaverse, they can identify ways to connect games, apps, and devices. Interoperability could be a huge advantage for Unity.

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30. Hyperlink InfoSystem

Hyperlink InfoSystem has been present in the market for over a decade, with its establishment dating back to 2011. Today, the developer has branches and offices in USA, India, and UAE. Its primary focuses include mobile app development and IT software solutions.

The company specializes in blockchain and AR-VR development, which are integral metaverse components. Hyperlink InfoSystem worked with companies in travel and hospitality, ecommerce, food and restaurant, gaming, and other industries. The vast experience and client-centric approach make it a wise choice for companies that need to partner with a developer to enter the metaverse.

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31. Andersen Lab

Andersen Lab is a software development company with a wide range of services, including cloud development, IoT development, IT security management, etc. The team has specialists with over 15 years in business and 1,000+ successful projects.

The famous companies that work with Andersen Lab include Mercedes Benz, Samsung, and other premium brands. With 16 offices worldwide, the developer is of service to a wide range of companies who’d like to enter the metaverse.

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32. Data Art

DataArt has 25 years of experience, during which the company worked with Doddle, Nasdaq, Monex, and other reputable brands. The team focuses on enterprise software development with a unique approach tailored to clients’ and users’ needs.

Services provided by DataArt include AI and ML, blockchain, cloud, mobile-first systems, etc. The company strives for innovation and excellence, and advanced technologies are an integral part of its portfolio.

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33. Globant

Globant signed a partnership deal with FIFA to work on its revolutionary digital platform. The company is a forward-thinking developer using the power of technology to transfer industries. It has a Metaverse studio using technologies and tools like Oculus, Unity, Unreal Engine, etc.

The developer helps companies explore opportunities to digitize their services and presenting their products to potential customers. Globant can help identify and define the right steps for the company’s presence in the metaverse.

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34. Everdome

Everdome has a mission of creating the world’s first hyper-realistic metaverse. The idea is to bring people and brands together while delivering a realistic experience. The developer promises a metaverse that will remind us of real life as much as possible.

The web3 experience developed by Everdome will include land ownership and speculation, marketplaces, advertising options, event participation and activations, and other intriguing features. From finance and education to sports and fashion, this metaverse will be suitable for a wide range of industries.

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35. Hdata Systems

HData Systems is a data science company that provides extensive data analytics, big data implementation, and visualization. The developer has over 40 AI solutions, which can be an integral component of a company’s metaverse presence.

Data analytics provides critical information to make informed business decisions and stay competitive in demanding markets. HData Systems could assist in developing and adjusting the right strategy for any company’s metaverse presence.

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Conclusion

The metaverse is an innovative approach to providing an immersive experience in the virtual world. Thanks to the network of industries and platforms focusing on a social connection, the metaverse offers the experience of “living” in a digital universe.

The story of the metaverse is only at the beginning, with huge potential ahead. There’s much room to develop augmented and virtual reality, as well as artificial intelligence. As the technology progresses, we’ll see the metaverse developing, too.

Nellius Mukuhi

Nellius Mukuhi

Nellius is a cryptocurrency investor and journalist who has been in the nascent space since 2018. She is a seasoned writer who loves to travel and focuses on delivering relevant, valuable content for audiences.