Gap has been selling virtual hoodies in the form of NFTs. (Photo: GAP)
Some of the world’s biggest companies are starting to set up shop in the so-called metaverse, sketching out an early blueprint for how people might eventually make real money in the much-hyped digital realm.
For fashion brands, toy makers and others, this online world where users interact in their digital guise of avatars, not unlike in the movie Ready Player One or the online game Second Life, is emerging as a new frontier for commerce.
Companies are creating versions of their products that exist only on screens, with ownership backed by digital deeds known as non-fungible tokens, or NFTs.
They’re also snapping up virtual real estate. More than 70% of the…
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