PUMA Jumps Into The Metaverse

[TL; DR]

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The Metaverse can be simply defined as a digital (virtual) space where you can communicate, work, play, and generally experience things like you would in the real world.

The Metaverse is an advanced form of the Internet and is its future.

Three next-gen technologies power it; virtual reality (VR), augmented reality (AR), and brain-computer interfaces (BCI).

Major industries globally are venturing into the Metaverse, with athletic giants high on the list.

Puma moved into the Metaverse by filing a trademark for digital assets and obtaining an ENS domain.

Puma hasn't fully publicly disclosed its progress within the Metaverse space, so things are a bit sketchy.


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Since the Internet penetrated global consciousness, it has been one of the most profound innovations to date.

Its use is far-reaching; it spreads across locations, people, industries, and generations.

The Internet has played a significant role in the current outlook of the world that it is almost impossible to think of earth without the Internet.

True to its constantly evolving and improving (Web 1, Web 2, and Web 3,) the Internet is venturing to a higher realm. It is called the “Metaverse.”

What Is The Metaverse?

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The Metaverse can be explained as a digital environment where you can communicate, work, play, and generally experience things like you would in the real world.

It is an extension of the Internet, only more interactive.

Typically, you can view the Internet in a 2D form - just browsing and scrolling through a screen. The Metaverse is more of 3D - you can travel around that space through a connected device.

It can be defined as a digital environment where you can communicate, work, play, and generally experience things like you would in the real world.

The Metaverse is powered by next-level tech such as
• Blockchain is a decentralized, secure, and open platform that supports digital innovations.
• Virtual reality (VR): A simulated experience to interact with an artificial 3D setting.
• Augmented reality (AR): It is an enhanced version of the natural world.
• Brain-computer interface (BCI) is a union between a brain and a machine for external use.

In the Metaverse, you can enjoy VR and AR while possessing digital assets in a virtual world thanks to blockchain. These technologies work hand-in-hand to create a digital space where you can interact with other people over the business, play, and everything in between.

The Metaverse is the future of the Internet and technology in general. To that end, many of the world's giant corporations like Meta (formerly called Facebook), Microsoft, Apple, Google, Nvidia, etc., are dipping their hands into that digital pie.

Athletic companies are also not left out. Nike and Adidas set the pace early in 2021 and have made strides in the Metaverse.

Adidas took the first leap by partnering with Sandbox, an ETH-based NFT gaming digital space, to churn out current projects, in addition to already existing ones. They launched their maiden NFT collection, raising more than $23 million.

On the other hand, Nike filed a trademark after purchasing RTFKT, a virtual design establishment that creates sneakers. They also have plans of launching an NFT collection and collaborated with Roblox to create "NikeLand."

Although Puma’s venture came a bit after, they are here and have their moves to make.

Puma Jumps Into The Metaverse

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Puma started its foray into the Metaverse in 2022, and they made some strategic moves that signaled their arrival.

On January 11, they filed a trademark for various digital assets such as footwear, costume, headwear, eyewear, bags, sports gear, visual art, toys, accessories, video game characters, avatars, etc. The trademark was meant to cover their proposed digital sportswear and a website for VR games.

Based on the absence of any further steps or public information in this regard, Puma hasn't released an official launch date for their products.

The next thing they did was to obtain an ENS domain. This move was geared towards Web 3 in mind.

An ENS (Ethereum Name Service) domain enables you to enlist a personal domain name for your wallet address to transfer funds quickly. It is assembled on Ethereum smart contracts.

After purchasing the ENS domain, they changed their Twitter handle to "Puma. eth," adding them to the long list of illustrious names with the ".eth" suffix in their terms.

Changing their Twitter handle worked wonders for them as about 18 NFTs joined their new wallet. All were felines in nature (Puma, also called a cougar, is a large New World cat). The most prominent NFTs include Gutter Cat #1110 (bought for 7.25 ETH), Cool Cat #32 (acquired for 14 ETH), and Lazy Lion #4609 (obtained for 2.5 ETH).

Continuing in that direction, Puma declared its intentions to collude with Catblox to release its maiden NFT collection. But, there hasn't been an update on those plans, so it is yet to fruition.

Just like Nike, there are speculations that Puma has plans to create a virtual store called "PumaLand." But they haven't been publicly announced anything on this, so nothing has been confirmed.

Seeing as they recently gravitated towards the Metaverse space, Puma is looking for a digital manager who has a broad knowledge of the Web 3 space to handle their Metaverse pursuits.

Conclusion

The next step in the evolution of technology can be seen in the Metaverse. It combines next-gen tech features such as blockchain, Web 3, VR, AR, etc., to create a bigger and better digital space.

Like every other forward-thinking company, Puma sets roots in the Metaverse space. Although they've made some headway in this regard, it is still early days, as most of their partnerships haven't borne fruit yet.

One thing is for sure, though - Puma has jumped into the Metaverse and intends to be there for a good time and a long time.



Author: Valentine A., Gate.io Researcher
This article represents only the researcher's views and does not constitute any investment suggestions.
Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.

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