Nike Inc (NKE.N) on Thursday revealed a virtual world modeled after its headquarters on video game platform Roblox Corp (RBLX.N), becoming one of the first big brands to enter the “metaverse”. Report by Leather & Footwear News – Asia.

The digital space, called “NIKELAND”, allows players to outfit their avatar with special Nike products and is free for anyone to visit on Roblox. Visitors can currently play “Tag”, “The Floor Is Lava” and “Dodgeball” on the platform, which also lets creators design their own mini-games from interactive sports materials.

Metaverse, a buzzword in the tech industry after Facebook (FB.O) renamed itself Meta, is a shared virtual world where people in the form of avatars can interact with others, enjoy concerts and digitally shop. The global metaverse market is expected to reach $6.16 billion in 2021 and $41.62 billion by 2026, according to research firm Strategy Analytics. More information