After Victoria's Secret, Skechers enters the Decentraland Metaverse 

After Victoria's Secret, Skechers enters the Decentraland Metaverse - metaverse etiquetteIn a press release yesterday, Metaverse Group, a subsidiary of web3 investment firm announced its agreement with Skechers.

The 30-year-old footwear brand has rented space in the Decentraland Metaverse to establish an experiential store.

Skechers goes to the Metaverse

The world's third largest athletic footwear brand will rent a 5.000-square-foot space in Decentraland's Fashion Street Estate. In this space, Skechers will create an experiential store for users.

The lease goes through Metaverse Group, which owns the land, making it the first virtual owner. Adding to the same, CEO and Metaverse Group Executive Chairman Andrew Kiguel said:

"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."

Skechers chairman Michael Greenberg called this deal an investment in their future, further stating:

"We look forward to embarking on this virtual era, and exploring creative ways for our brand to engage with new customers and audiences as we launch the new Skechers experience."

Is the Metaverse only for the rich?

The emergence of more high-end luxury brands in the Metaverse is becoming a trend. As reported by FXEmpire, Victoria's Secret filed trademark applications for digital collectibles and virtual goods earlier last month.

By entering the Metaverse, the lingerie and beauty company intends to create online media and clothing for use in virtual environments.

A week earlier, Gucci also bought a property in The Sandbox. The Meta fashion craze has spread to the point that Space Runner, the Metaverse fashion brand, has raised $ 10 million to develop a "fashion Metaverse".

Through this, Space Runner gamifies fashion by introducing the wear2earn economy where users can showcase their trendy NFTs.

So, as the Meta-word spreads, it can be expected that more and more brands will join this space and see it transform into the future of marketing, or perhaps even into the Paris or Milan of virtual fashion.