Sneakers brand, Skechers has entered the metaverse by becoming the first to sign a lease in the Fashion District of Decentraland, a decentralized VR platform built on top of the Ethereum blockchain. The company has also recently filed trademark applications to sell virtual goods such as footwear and apparel, in a bid to capitalize on the growing metaverse wave. “Our Decentraland agreement is an investment in our future,” said Michael Greenberg, president of Skechers, in a release. “We look forward to embarking on this virtual era, and exploring creative ways for our brand to engage with new customers and audiences as we launch the new Skechers experience.” With the latest deal with Decentraland, Skechers follows in the footsteps of a growing number of fashion brands who have already staked their claim including Philip Plein, who recently brought a 1.4 million dollar plot in the virtual world. Earlier, last year, Canadian company Token.com announced the acquisition of a 116 parcel estate in the Fashion Street district within Decentraland via its subsidiary, Metaverse Group. At the time Decentraland declared this to be the largest metaverse land acquisition to date. Many global high fashion brands are entering the metaverse. For instance, Gucci and Ralph Lauren already have virtual pop-up shops on Roblox and Zepeto while brands such as Balmain and Adidas have launched their own NFT collections.
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