One World Universe, Inc., a publicly traded company that invests in sports related businesses, distressed assets, business opportunities within emerging industries and providing humanitarian efforts in over 185 countries, through its subsidiary Metaverse Holding Corp., will be purchasing 3 connecting LAND parcels in the Decentraland 3D virtual platform.
The 3 connecting virtual land parcels are located near the highly sought-after fashion district
The three linked virtual land parcels are in close proximity to the fashionable fashion district. Many fashion branded enterprises are gravitating to the metaverse as a welcomed new revenue stream and a breath of fresh air to fading consumer sales. Moreover as we know in real estate it’s all about timing and location, location, location.
The COVID epidemic led people to shift to working from home and to cancel social events. Travel, and gatherings, resulting in fewer new purchases. In addition designer labels can now sell virtual apparel for customers’ avatars thanks to metaverse wearables, sometimes known as’skins.’
“The approaching fashion week in late March will bring significant publicity to the metavers and increased traffic surrounding our newly purchased real estate”. Said Dana Salzarulo, OWUV’s Director of Investor Relations.
One World Universe plans on developing the parcels and creating stores
The company intends to develop the parcels. Moreover open storefronts in partnership with or for businesses looking to advertise their designer brand and product line. Decentraland offers a distinct Metaverse experience than the Sandbox. Whose metaverse is voxelart, or pixel-like blocks, so a 3D shopping experience will be developed.
With Decentraland, users can buy and sell virtual plots of land, products, and things using their native (MANA) token on the Ethereum blockchain. In addition people can make their own micro-worlds, complete with virtual trees, planes, and other features.
Grayscale, a cryptocurrency asset management firm, recently stated that the metaverse has the potential to generate $1 trillion in yearly revenue. However, all of those avatars in the metaverse require virtual apparel, which is becoming a burgeoning industry. Dolce & Gabbana, Gucci, Balenciaga, and Ralph Lauren are among the fashion houses that have made inroads into the metaverse.