BrazilSquare44 launches consultancy division in Decentraland’s metaverse
Touted as the ‘next internet’, hype around the virtual world of the metaverse continues to grow, with costly purchases of online ‘land’. Asian brand consultancy Square44 is among the latest investors.
Bangkok-based Asian design and brand consultancy Square44 has become the latest professional services firm to invest in real estate in the metaverse, after establishing a new division and office in the virtually-hosted Decentraland platform – one of the major movers in the emerging metaverse market. Square44’s new division, CRPTOSQUARE, aims to aid other brands with the metaverse and NFT-related projects.
For the uninitiated, the metaverse – which has been gaining greater public traction since Facebook signalled its intentions to corner the market by rebranding to Meta – is envisioned as an immersive 3D online realm which crosses over with the real world, where millions of users from around the world can connect with one another and commercial enterprises via their avatars, through the use of virtual and augmented reality technologies.
While the concept may sound ludicrous to some, recent investments have made it evident that much of big business is taking the metaverse seriously. The Metaverse Group – itself a virtual real estate agent and developer – reportedly bought a “500-square-metre plot of land” for $2.43 million in November, while the Hong Kong branch of Big Four professional services firm PwC has invested in real estate in the Sandbox gaming metaverse.
Although the frenzy of companies clamouring to get in on the action seems to grow by the day, Square44 claims to be the first brand agency to make the virtual leap, and one of the first business entities from Thailand to establish a presence in the metaverse by investing in space and opening an office.
For those interested in popping into the office for a virtual visit, just set up an avatar and follow the coordinates 120,-13 on Decentraland.
By launching its new virtual enterprise, Square44 says it has developed a roadmap for introducing other brands to the opportunities of the metaverse. Among its services will be full or half-day metaverse branding workshops and the development of NFT-related projects. “All things related to the metaverse are moving with unprecedented speed, and a first-mover advantage is important for many brands,” says Square44 founder Mathijs Aliet.
“The way brands interact with users in the space will dramatically change – many other opportunities will emerge, but it is very likely that the projects that garner most interest initially will be focused on helping businesses connect their physical brands with the new version of the digital world,” Aliet continued. “We want to help companies move fast, while carefully ensuring executions are unique, bespoke and fitting to the brands in question.”
