Simone Del Rosario Business Correspondent

5 ways companies are cashing in on the metaverse

Dec 17, 2021

Simone Del Rosario Business Correspondent

By Simone Del Rosario (Business Correspondent)

Ever since Facebook rebranded as Meta, the metaverse has gone viral. It’s a new virtual vision of the internet and it’s about to change your life. Here are five of the the coolest applications to date.

#5: Luxury fashion

Dolce & Gabbana has already minted millions in the metaverse: 5.7 million, to be exact. At its Alta Moda show in Venice, Italy, the brand sold four pieces that were solely digital: Three men’s jackets and the Impossible Tiara, a crown that Dolce & Gabbana claims is made of “gems that can’t quite be found on Earth.”

#4: Weddings

It’s not yet legal but Traci and Dave Gagnon didn’t care. They got married in the metaverse over Labor Day weekend. The couple — or rather, their digital avatars — held a ceremony staged by Virbela, a company that builds virtual environments for work, learning and events.

#3: Workplace

Microsoft is working on something called Mesh that allows people in different locations to join shared holographic experiences. Now you can join a meeting remotely but still sort of be in the same room to collaborate with your co-workers using an avatar that best represents the real you.

#2: Dating

If you thought dating was weird IRL, try your best pick up line using your avatar. Match.com and Tinder are bringing dating to the metaverse with a product called Single Town. It lets singles move around different virtual locations like a bar or restaurant and have actual conversations using real-time audio. Testing has already begun on college campuses across Seoul, South Korea.

#1: Music

Remember when the music industry fell behind in the transition from CDs to digital downloads? Not this time. Universal Music Group and digital-avatar company Genies have built animated versions of some of their biggest real-world artists. Justin Bieber has a music video with his avatar while Rihanna used hers in a tweet to promote her company Fenty.

SIMONE DEL ROSARIO: EVER SINCE FACEBOOK REBRANDED AS META, THE METAVERSE HAS GONE VIRAL. IT’S A NEW VIRTUAL VISION OF THE INTERNET AND IT’S ABOUT TO CHANGE YOUR LIFE. HERE ARE THE COOLEST APPLICATIONS TO DATE IN THIS WEEK’S FIVE FOR FRIDAY.

COMING IN AT NUMBER 5, LUXURY FASHION. DOLCE & GABBANA HAS ALREADY MINTED MILLIONS IN THE METAVERSE. 5.7 TO BE EXACT. AT ITS ALTA MODA SHOW IN VENICE THE BRAND SOLD FOUR PIECES THAT WERE SOLELY DIGITAL: THREE MEN’S JACKETS AND THE IMPOSSIBLE TIARA, A CROWN THAT DOLCE AND GABBANA CLAIMS IS MADE OF “GEMS THAT CAN’T QUITE BE FOUND ON EARTH”

WEDDINGS ARE IN THE NUMBER FOUR SPOT. IT’S NOT YET LEGAL BUT TRACI AND DAVE GAGNON DIDN’T CARE. THEY GOT MARRIED IN THE METAVERSE OVER THE LABOR DAY WEEKEND. THE COUPLE — OR RATHER, THEIR DIGITAL AVATARS — HELD A CEREMONY STAGED BY VIRBELA, A COMPANY THAT BUILDS VIRTUAL ENVIRONMENTS FOR WORK, LEARNING AND EVENTS.

NUMBER 3 IS YOUR WORKPLACE. MICROSOFT IS WORKING ON SOMETHING CALLED MESH THAT ALLOWS PEOPLE IN DIFFERENT LOCATIONS TO JOIN SHARED HOLOGRAPHIC EXPERIENCES. NOW YOU CAN JOIN A MEETING REMOTELY BUT STILL SORTA BE IN THE ROOM TO COLLABORATE WITH YOUR CO-WORKERS USING AN AVATAR THAT BEST REPRESENTS THE REAL YOU.

AT NUMBER TWO, YOUR LOVE LIFE. IF YOU THOUGHT DATING WAS WEIRD I-R-L, TRY YOUR BEST PICK UP LINE USING YOUR AVATAR. MATCH.COM AND TINDER ARE BRINGING DATING TO THE METAVERSE WITH A PRODUCT CALLED SINGLE TOWN. IT LETS SINGLES MOVE AROUND DIFFERENT VIRTUAL LOCATIONS LIKE A BAR OR RESTAURANT AND HAVE ACTUAL CONVERSATIONS USING REAL-TIME AUDIO. TESTING HAS ALREADY BEGUN ON COLLEGE CAMPUSES ACROSS SEOUL.

THIS WEEK’S NUMBER ONE BEST METAVERSE APPLICATION COMES FROM THE MUSIC BIZ. REMEMBER WHEN THE INDUSTRY FELL BEHIND IN THE TRANSITION FROM CDS TO DIGITAL DOWNLOADS? NOT THIS TIME. UNIVERSAL MUSIC GROUP AND DIGITAL-AVATAR COMPANY GENIES HAVE BUILT ANIMATED VERSIONS OF SOME OF THEIR BIGGEST REAL-WORLD ARTISTS. JUSTIN BIEBER HAS A MUSIC VIDEO WITH HIS AVATAR WHILE RIHANNA USED HERS IN A TWEET TO PROMOTE HER COMPANY FENTY.

THAT’S YOUR FIVE FOR FRIDAY. SEE YOU IN THE METAVERSE, MAYBE? I’M SIMONE DEL ROSARIO FOR JUST BUSINESS. SEE YOU MONDAY.