While there is a lot of investment activity going on in the US, Dubai is ahead of the curve when it comes to making it a government priority and developing statewide metaverse services, he said.
LandVault, the largest metaverse real estate company facilitating the entry of major brands into the metaverse, has completed 100 million square feet of virtual real estate across platforms such as Sandbox and Decentraland.
This includes work for major brands such as Mastercard, L’Oreal, Heineken and Standard Chartered Bank, as well as native Web3.0 projects such as World of Women, MAYC and AlienBoy.
LandVault has developed an estimated 10% of the completed experiences in the open metaverse that are considered live builds with playable experiences, building virtual land equivalent to 1,300 football fields, and creating rapidly expanding virtual worlds. Leading.
The company has its origins in gaming and was formerly known as Admix. This is about building the technology for brands to enter the game through product placement. Founded in 2018 by Sam Huber, Admix has raised $37 million (Dh135.90) million from top venture capitalists (VCs), worked with over 300 top brands such as McDonald’s and Calvin Klein, We help bring your brand to life in-game through product placement.
Earlier this year, Huber pivoted the company from games to the Metaverse, acquiring Metaverse Studios and rebranding it to LandVault, providing end-to-end solutions for brands and Internet Protocols (IP), from land rentals to Build and Monetize.
The recent merger with LandVault brought over 180 staff, including over 120 expert metaverse developers and artists, making the company a preeminent powerhouse in building the metaverse, as this latest development milestone demonstrates. I made it LandVault is leading the way in developing an ecosystem that could generate up to $5 trillion (Dh18.37 trillion) in value by 2030, according to a McKinsey & Company report.
According to the same report, more than $12 billion (Dh440.76 billion) will be invested in the Metaverse in the first five months of 2022, more than double last year’s $57 billion (Dh209.36 billion). VCs, private equity (PE), start-ups and established brands are all looking to capitalize on this opportunity.
The report shows that 59% of consumers are excited to move their daily activities to the metaverse, highlighting how important it is for brands to achieve a metaverse strategy and the right presence doing.
Khaleeji Times We spoke with Huber about LandVault’s growth story.
Edited excerpt from an exclusive interview:
What makes LandVault a pioneer in developing the world’s largest Metaverse real estate company?
Landvault.io is unique in its proprietary technology for monetizing experiences such as product placement and e-commerce. Overall, brands are working with us because they are helping build their business in the metaverse, rather than just marketing campaigns.
How are Dubai, the UAE and five other Gulf Cooperation Council (GCC) member states capitalizing on this opportunity?
Dubai and the GCC countries are not only interested in creating digital twins of properties and making them physically available to residents, but also in the new wave of digital tourism. We are working with local real estate agents and attraction parks to bring these to the Metaverse.
What local brands are partnering with global brands?
We can’t name them all, but examples include construction company Aldar and Abu Dhabi’s Yas Marina Circuit.
Why is e-commerce dependent on the metaverse?
We believe the Metaverse is the next generation Internet. It’s a three-dimensional (3D) immersive internet that enables richer, more interactive integration. Over the next decade, it will captivate billions of people and redefine the way we interact, shop, play and do business online. As such, part of the e-commerce market will be generated in the metaverse rather than the traditional Internet. Therefore, businesses, shops and retailers should jump in early to learn the ropes of this new channel to prepare for it and stay ahead of the curve.
What is the upward trend in land prices in the Metaverse?
Land prices are mainly influenced by supply and demand and speculation, but the essential value is the business that can be created on it. If you own the land, you own the business model on top of it. More and more investors see the value of owning a part of the metaverse and can do business there in the future.
What are the global and regional trends in investing in the metaverse?
While there is a lot of investment activity going on in the US, Dubai is leading the way when it comes to government priorities and the development of statewide metaverse services. Dubai is considered a major hub for blockchain and the metaverse. This is a great way to attract talent from all over the world and maintain your position as the market leader for the next stage of the internet.
How will businesses see the metaverse in the next decade?
By 2030, businesses will look to the Metaverse in the same way they look to the Internet today. The Metaverse is the new platform you need to reach and grow your customers.