On October 28, Facebook announced that it had changed its name to Meta, effective immediately. The online virtual world “metaverse” is attracting a lot of attention.
■ Similar Economic Activities as in the Real World!?
With the progress of Virtual Reality (VR) and Augmented Reality (AR) technologies in recent years, it has become possible to communicate in a way that is close to reality even in a virtual world. Additionally, Non-Fungible Tokens (NFTs) based on blockchain technology are gaining popularity. Conventional digital data had weaknesses such as being easily duplicated, but with the use of NFTs, it is now possible to have unique and secure data. It is said that it will be possible to own, purchase, and sell “digital assets” within the metaverse using NFT technology in the future, and perform economic activities similar to those in reality.
Some works in the entertainment business, such as games and films, have already replicated some of the metaverse’s concepts. For instance, “Animal Crossing,” which Nintendo (7974) released in 2020 on its portable game console Switch, is considered one of these works. As metaverse companies, US game companies such as Roblox, a game development platform, and Epic Games, the creators of its battle royal game “Fortnite,” have attracted attention. In the field of movies, “Ready Player One” released in 2018 and the “Matrix” series also represent the metaverse’s worldview.
■ List of Metaverse-Related Stocks in Japan
Japanese companies have also begun to enhance their related businesses in anticipation of the metaverse market’s expansion. The following is a list of related stocks, taking into account the latest announcements.
On April 22, C’s MEN (3083), an apparel company, announced its intention to enter the metaverse fashion market through a partnership with Sotokanda (Chiyoda-ku, Tokyo), a provider of creator support services. As a result of this business partnership, Polygon Tailor Fabric, an apparel brand specializing in metaverse fashion, was established with the mission of redesigning avatars’ clothing in the metaverse as wearable fashion and commercializing it as real-world clothing. Additionally, the company is planning a new line of business, converting real-world clothing for use by avatars in the metaverse.
GREE (3632), a provider of mobile social games, announced its entry into the metaverse business in August. The company intends to invest JPY10bn over the next two or three years to acquire several hundred million global users. While the company’s subsidiary REALITY has been developing a virtual live streaming application for smartphones, GREE has rebranded its live entertainment business as the metaverse and is actively investing in it.
Sony Group (6758) is another remarkable company in the game industry. The metaverse is closely linked to VR and AR technologies. Along with its game and VR devices businesses, the company has invested in Epic Games, a US company focused on metaverse development.
The metaverse is called the next generation of the Internet society. The struggle for supremacy over this field may accelerate in the future.
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