Skechers is the most recent major corporation to announce plans to open a store in Decentraland. Despite the gravity of the announcement, MANA has remained silent as it relies on shaky support.
Skechers Has Entered the Metaverse
Skechers, the world’s third-largest sneaker company, has revealed plans to open a Metaverse virtual store.
The American footwear manufacturer said in a news release that it had leased the equivalent of 5,000 square feet of virtual land on Decentraland’s Fashion Street Estate. Skechers President Michael Greenberg stated that the company’s mission is to find new and innovative methods to communicate with new customers and audiences.
Skechers’ statement is the latest in a long line of large corporations to make a digital shift. The footwear company follows on the heels of the American investment behemoth JPMorgan, which launched a lounge in the popular virtual world last month. At the time, it estimated that the Metaverse might become a $1 trillion yearly market. At the start of the year, Samsung also built a virtual store in Decentraland.
While such developments demonstrate the growing 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 negative trend, having fallen 61% from its all-time high. The 30th-largest cryptocurrency by market capitalization appears to be trading above a weak support level, with little to no signs of recovery.