Will the invasion and competition of famous brands wreak havoc on Metaverse?

Last week, Pepsi launched its first “Pepsi Mic Drop” NFT collection, a series of animated microphones with the Pepsi logo on their nose. Budweiser, which bought the NFT and Ethereum domains in August, then took the opportunity to change its Twitter username to Beer.eth.

Pepsi’s move into the Metaverse area was also supported by Meta (Facebook’s new name): “This is going to be great in the Metaverse.”

Cartoon microphone with Pepsi logo on its nose

While interactions between large companies are celebrated, that doesn’t mean crypto users think the same way. One frustrated user: “Destroy all of this”. Another responded coolly: “We have become exactly the object that we want to destroy.”

Don’t just stop there. This month Adidas also bought a Bored Ape NFT and covered its branded apparel and announced a Metaverse project with the Bored Ape Yacht Club (BAYC). Nike also bought RTFKT, a Metaverse shoe studio, while White Castle bought Sea Hams NFT and an Ethereum domain.

In particular, the change from Nike caused a backlash in the crypto world. Emma-Jane MacKinnon-Lee from DIGITALAX has tweets to RTFKT: “Congratulations on leaving Web 3.0. There is still a lot to be done to revolutionize fashion and get rid of control of the old brands. ”There were many responses to“ RTFKT rip ”on Twitter.

There is a collision. Lately, a lot of gamers have been angry because crypto is infiltrating their platforms. Cryptocurrency users can see brands flock to the Web 3.0 and make it worse.

But what about the technology?

In addition to attempting to use typical cryptocurrency language, brands are vying for ownership of the Metaverse (and there have been lawsuits).

The idea of ​​regions controlled by centralized corporations is in stark contrast to Metaverse’s view. Animoca president Yat Siu said tech giants like Facebook and Tencent are the biggest threat to Metaverse, while Epic Games CEO Tim Sweeney said no single company could own Metaverse. But with 2 billion users and a market cap of $ 930 billion, Meta is taking a significant step forward.

It all boils down to the 2018 “blockchain, not bitcoin” hype cycle, with banks and other financial institutions saying they are building their own blockchains (while cryptocurrencies are still being ignored). The whole point of the blockchain is that it is permissionless, open, peer-to-peer (P2P), and decentralized.

If you believe Metaverse is and will remain real, as do crypto tools like Ethereum domains, NFTs, and DeFi pools, then you don’t mind brands stepping in because if it really does become a coin mainstream, everyone will participate. And for crypto to grow, it has to open its arms to everyone and make the user experience (UX) onramps easier for newbies.

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