FBC Holding, Inc. (FBCD) Purchases Real Estate in Sandbox Metaverse – Yahoo Finance
SCOTTSDALE, AZ / ACCESSWIRE / September 13, 2022 / Today FBC Holding, Inc. (OTC PINK:FBCD) through its wholly owned subsidiary, Formrunner Apparel Inc. is pleased to announce that the company has purchased land in the Sandbox metaverse.
Formrunner Apparel Inc. has decided to dive even deeper into the metaverse with intentions to open a clothing retail store inside of the Sandbox and the first step has been completed by buying a piece of land to begin. President & CEO Lisa Nelson states “We will be working with top notch developers to start construction on site and build Formrunner’s first ever virtual clothing store where people will be able to purchase our latest fashion and wear our clothing on their avatar wherever they go!” Lisa Nelson also states, “The amount of revenue and growth that may come out of this is explosive and this is only the beginning! We will be expanding across platforms as time goes on.” The company will keep the public informed on this matter moving forward and FBC Holding, Inc. cannot wait to see what the future holds!
Link to Sandbox Land: https://www.sandbox.game/en/lands/843e973f-1a37-4289-8150-6ee38b84c8e2/
Link to Sandbox Website: https://www.sandbox.game/en/
Millions of gamers worldwide buy accessories, clothing, and skins (graphics that change the look of an item in a video game) for their digital avatars. In fact, Ralph Lauren attributed some of its strong third quarter earnings to these virtual investments and the younger generation of shoppers it has attracted. The overall gaming market was valued at $173 billion in 2021. Other companies like Nike, Adidas, and Vans World are now betting there’s room for even more growth, and that gaming becomes just one component of a more far-reaching metaverse. And as the virtual world expands, more people are diving into computer-simulated online communities that replicate the real world. The fashion industry thinks it may have found its next pot of gold there. Already, customers can dress up their avatars for virtual worlds like Horizon Worlds and Decentraland. But virtual fashion is not limited to avatars. You can wear virtual garments on Snapchat or Zoom meetings or pose with them for photos for social media feeds. You can show up to a work meeting with a black-tie dress when in real life it is just a t-shirt; or post a picture on Instagram of a luxury jacket that was never touched in real life. Virtual fashion is being sold in a variety of ways: from gaming platforms and digital photos to videos that use augmented reality. The metaverse in the Fashion Market is poised to grow by $6.61 billion during 2022-2026, accelerating at a CAGR of 36.47% during the forecast period.
Streetwear is one of the most striking retail and fashion trends to have appeared in recent years, involving the production, promotion, sale, and resale of casual fashion – footwear, T-shirts, and other items – in ways that bypass traditional retail channels. Customers are often rallied via social media to be the first to buy products that are only available directly from the brand, either in-store or online. The anticipation of a time-limited chance to buy, helps create a tight-knit and almost cult-like relationship between streetwear brands and their consumers. This has helped propel streetwear from being an eye-catching fashion phenomenon that drew its inspiration from the countercultures of the 1980s and 1990s – including graffiti, hip-hop, …….
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