Monday, July 15, 2024
HomeMetaverseSkechers plans to build virtual store on Decentraland 

Skechers plans to build virtual store on Decentraland 

Skechers, the world’s third-largest shoe company, has revealed plans to open a Metaverse virtual store. The American footwear manufacturer stated in a news release that it has leased the equivalent of 5,000 square feet of virtual property on Decentraland’s Fashion Street Estate.

Skechers President Michael Greenberg highlighted that the company’s mission is to find new and innovative ways to interact with new consumers and audiences.

The footwear company follows on the heels of the American financial behemoth JPMorgan, which launched a lounge in the popular virtual world last month. At the time, it was estimated that the Metaverse might become a $1 trillion yearly market. At the beginning of the year, Samsung also built a virtual store in Decentraland.

While such events demonstrate the rising interest in Decentraland and other Metaverse-related projects, MANA, the native token of Decentraland, did not respond to the news. MANA is now on a downward trend, having fallen 61% from its all-time high. The 30th-largest cryptocurrency by market capitalization looks to be trading above a weak support level, with little to no signs of recovery.

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Jeewan Singh
Jeewan Singh
Jeewan Singh is CryptoShrypto’s content writer and a seasoned writer with over two years of experience in writing about Indian Securities Market. Jeewan's participation in Blockchain and Cryptocurrency started in late 2020, and he hasn't looked back since. The technical and economic outcomes of cryptocurrency are what spark his curiosity, and he keeps one eye on the market.


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