Insider Brief:
- LandVault has announced it has completed 100 million square feet of virtual real estate development.
- This includes work for large brands like Mastercard, Heineken and Standard Chartered Bank.
- $120 billion has already been invested in the Metaverse in the first five months of 2022, and 59% of consumers are excited about transitioning.
- Sam Huber, CEO of LandVault, says that this milestone is significant in the company’s mission to build the metaverse, and his company believes that over the next decade, every brand and IP will need a business in the Metaverse, just like they have a business on the internet.
PRESS RELEASE — London, UK/October 24, 2022 — LandVault, the largest metaverse real estate company facilitating the entry of major brands into the metaverse, has completed 100 million square feet of virtual real estate development. This includes work for large brands like Mastercard, Heineken, and Standard Chartered Bank, as well as native web3 projects like World of Women or Property’s.
LandVault has developed an estimated 10% of open metaverse completed experiences, considered as live builds with a playable experience, and has built the equivalent of 1,300 football pitches worth of virtual land and is leading the way in creating a rapidly expanding virtual world.
Sam Huber, CEO of LandVault, says: “This milestone is significant in our mission to build the metaverse. We believe that over the next decade, every brand and IP will need a business in the metaverse, just like they have a business on the internet. However, while building quantity, we also feel a responsibility to build the metaverse responsibly, in a way that serves both brands and users.”
“Despite the so-called crypto winter, business has been accelerating all across the summer, as the metaverse is not directly correlated with crypto prices, but instead is seen as a new channel for brands to reach their audience”, stated Sam Huber.
Formerly built as Admix, Huber worked with top companies to discover and introduce their presence in the metaverse. Admix has raised $37m from top VCs, while working with over 300 top brands such as McDonalds or Calvin Klein to assist in activating their brands inside games via product placements.
The recent merger with LandVault involved the acquisition of more than 130 staff, including 120+ specialised metaverse developers and artists, making the company the standout powerhouse in metaverse building — exemplified by this latest development milestone. As a result of that, LandVault is pioneering the development of an ecosystem that has the potential to generate up to $5 trillion in value by 2030, according to a report by McKinsey & Company.
The same report notes that more than $120 billion has already been invested in the metaverse in the first five months of 2022, more than double the $57 billion invested in all of 2021 — with venture capital, private equity, start-ups, and established brands all seeking to capitalise on the opportunity.
Meanwhile, the report shows 59% of consumers are excited about transitioning their everyday activities to the metaverse, highlighting how pivotal it is for brands to achieve their metaverse strategy and presence in place.
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SOURCE: LandVault
