The man is coming, collaborating with Sandbox. What value does Sandbox or Decentraland have to the brand? It’s of no use.
Metaverse projects, which had a dull day with the effect of the Bear Market after the last year marked by ambitious virtual universes, continue to enter the radar of companies. Brands are lining up to take part in the metaverse, the rising technology of recent years. Regardless of textile, automotive or finance, leading companies in many sectors either open stores in the metaverse or prefer these virtual realms to organize events or meetings.
Burak Soylu, CEO of GoArt, the local company that builds metaverses for brands, said at the press conference they held today that the interest in this field is increasing day by day. The growth figures shared at the meeting are the proof of this interest: “We have grown by 100 percent compared to the previous year. We completed 2022 with a positive cash flow. Saying that we aim to grow twice as much in 2024 compared to last year, Soylu adds: “We also aim to increase our customer portfolio to approximately 1 million users. With the new collaborations we made in 2023 and our digital marketing efforts, the number of our users is increasing day by day.”
GoArt’s customer portfolio includes many brands such as Kiğılı, Damat Tween, İşbank and Halkbank. Speaking at the press conference, Soylu, referring to the researches in this field, says that the metaverse economy is growing and brands are aware of this fact: “The global metaverse market reached a value of 52 billion dollars in 2021 as of this year. According to the Global Metaverse Perspectives and Solutions report prepared by the international financial institution Citi, this amount is expected to reach a value between 8 and 13 trillion dollars and reach 5 billion users by 2030.”
“What value does Sandbox have to the brand?”
However, contrary to this rosy picture, there are criticisms that brands that are interested in the metaverse ignore technology and act only for marketing motives. Buğra Ayan, President of the Web3 Technologies Association, recently spoke privately to Kriptokoin.com, describing the metaverse investments of brands as “hollow”. We asked GoArt CEO Burak Soylu what he thought about these criticisms: “You can’t get mad at the jeweler just because the gold is fake. The man is coming, collaborating with Sandbox. What value does Sandbox or Decentraland have to the brand? It’s of no use. No gamification, no Web3 marketing. Of course, when all this did not happen, the brand came out and said, ‘Why should I be in the metaverse?’ he asks. I have already developed all of these to refute this claim,” he says, and adds: “We ensure that brands are recognized internationally. If you’re only going to open a store in the metaverse, this is not for me. Metaverse is not just a business that will provide marketing benefits to brands.”
“We will issue our token in 2024 due to the Bear Market”
Reminding that the Bear Market was challenging for the crypto and blockchain ecosystem at the press conference, Soylu said, “We have also decided to postpone the release of our Token, which we aim to issue by foreseeing this process. We have a lot of possibilities to issue our own cryptocurrency. We have prepared our strategy, roadmap, benefits and management styles for the token. Due to regulatory uncertainties in the ecosystem, we parked the launch until it reached a suitable point. It is thought that this situation will be resolved and progress in the near future. We aim to issue our token in 2024,” he says.
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