Nike, Gucci, Samsung, Nickelodeon, and other companies should therefore expand on their 2022 efforts.

Top brands are expected to promote NFT adoption in 2023 as they search for new revenue streams, according to market trend analysts. NFTs will be a crucial touchpoint for marketers in the new digital universe, according to corporate growth consulting company Forrester.

Nike, Gucci, Samsung, Nickelodeon, and other companies should therefore expand on their 2022 efforts. This action is intended to revitalize their brands, draw in new sources of income, and establish their position in the metaverse.

Few companies have so far developed special benefits just for their Web3 customers. Among these benefits are cash bonuses and the ability to brag. This is best illustrated by Starbucks' NFT-based loyalty program. The NFT holders have access to prizes in the real world.

Nickelodeon is another huge company that depends on NFTs to increase its revenue. The media company is placing a wager that vintage Rugrats profile images will draw seasoned fans to its Recur Forever Inc. NFT platform.

Companies like Nike and Adidas have embraced the idea of the metaverse and see its potential. They are providing a futuristic hybrid model in an effort to position themselves in the impending digital cosmos. one where owners of physical goods can outfit their avatars with the identical items.

The Bear Market Hasn't Really Slowed Down the Uptake of NFTs

In the NFT industry, the term "metaverse" has gained considerable notoriety, but it is not yet fully understood. There is, however, a general conception of how this digital cosmos will appear after it has been fully planned and constructed.

The Metaverse, written by venture entrepreneur Matthew Ball, is described as

"a massively scaled and interoperable network of real-time rendered 3D virtual worlds that may be experienced asynchronously and persistently by a virtually infinite number of users with a continuous flow of data, such as identification, history, entitlements, items, communications, and payments."

The NFT sector may have been severely affected by the bear market, but experts anticipate spectacular development by 2023. The most recent NFT.NYC conference gave attendees a peek at what brands are doing to stay on top of this market. Many people have long-term ambitions for Web 3.