This March 10, Skechers, a U.S. footwear manufacturing company, signed an agreement with Tokens.com, a company that invests in cryptocurrencies and businesses related to the metaverse and NFTs, to lease virtual land in Decentraland.
According to the press release, the space leased by Skechers is about 465 square meters, and will be used for the construction of an immersive store in the Fashion Street Estate located in the Decentraland metaverse.
Michael Greenberg, president of Skechers, said this entry into the Decentraland metaverse was pitched as a forward-looking investment to attract new customers excited about this new technology.
“We are looking forward to embarking on this virtual age and exploring creative ways for our brand to engage with new customers and audiences as we launch the new Skechers experience,” said Greenberg.
In addition to this news, Skechers, the world’s third largest athletic footwear brand based in Southern California, filed 8 trademark applications in January to sell virtual goods, including footwear and apparel, laying the groundwork for new growth potential in the metaverse.
Andrew Kiguel, CEO of Tokens.com and Executive Chairman of Metaverse Group, said this partnership marked a “pivotal evolution in our metaverse strategy” as it positions the company’s subsidiary as one of the first companies to successfully lease its land within the metaverse.
“This partnership establishes our subsidiary, Metaverse Group, as one of the first virtual landlords to successfully lease its real estate in Metaverse” according to Kiguel.
Metaverse Group has over $8 million invested in real estate
Kiguel added, that they did not consider themselves simply as some landowners within the Metaverse, as just like in the real world, they were generating “recurring” money just like any other company.
“Not only do we own valuable virtual real estate, but we also generate recurring revenue, similar to landlords in the physical world and online advertising platforms such as large search engines and social media networks” said Kiguel.
Tokens.com Corp is a company that in addition to being publicly traded, has subsidiaries that have become the world’s first virtual real estate companies, and are engaged in the investment of gaming tokens and NFTs that generate passive income.
Therefore, the idea of buying land in the new metaverse may not be so far-fetched after all, as some companies have managed to amass a large fortune and now rent their land to billionaire brands, such as Nike or Adidas and now Skechers.
Under Armour, Puma and New Balance are among the other famous clothing and sports shoe companies that have filed trademark applications for virtual goods.
WARNING: This is an informational article. Geek Metaverse is a media outlet, it does not promote, endorse or recommend any particular investment. It is worth noting that cryptoasset investments are not regulated in some countries. They may not be appropriate for retail investors, as the full amount invested could be lost. Check your country’s laws before investing.