FBC Holding, Inc. (FBCD) Purchases Real Estate in Sandbox Metaverse

Rhea-AI Summary

FBC Holding (OTC PINK:FBCD) announced the purchase of land in the Sandbox metaverse through its subsidiary, Formrunner Apparel Inc., marking its entry into the virtual retail space. This strategic move aims to establish a virtual clothing store, enhancing brand visibility and tapping into the growing metaverse market. CEO Lisa Nelson emphasized the potential for explosive revenue growth and plans for future expansion across various platforms. The metaverse fashion market is forecasted to grow by $6.61 billion from 2022 to 2026, with a compound annual growth rate of 36.47%.

Positive

• Acquisition of land in the Sandbox metaverse to establish a virtual clothing store.
• Potential for significant revenue growth as the metaverse fashion market is projected to grow by $6.61 billion from 2022 to 2026.

Negative

• None.

SCOTTSDALE, AZ / ACCESSWIRE / September 13, 2022 / Today FBC Holding, Inc. (OTC PINK:FBCD) through its wholly owned subsidiary, Formrunner Apparel Inc. is pleased to announce that the company has purchased land in the Sandbox metaverse.

Formrunner Apparel Inc. has decided to dive even deeper into the metaverse with intentions to open a clothing retail store inside of the Sandbox and the first step has been completed by buying a piece of land to begin. President & CEO Lisa Nelson states "We will be working with top notch developers to start construction on site and build Formrunner's first ever virtual clothing store where people will be able to purchase our latest fashion and wear our clothing on their avatar wherever they go!" Lisa Nelson also states, "The amount of revenue and growth that may come out of this is explosive and this is only the beginning! We will be expanding across platforms as time goes on." The company will keep the public informed on this matter moving forward and FBC Holding, Inc. cannot wait to see what the future holds!

Link to Sandbox Land: https://www.sandbox.game/en/lands/843e973f-1a37-4289-8150-6ee38b84c8e2/

Link to Sandbox Website: https://www.sandbox.game/en/

Millions of gamers worldwide buy accessories, clothing, and skins (graphics that change the look of an item in a video game) for their digital avatars. In fact, Ralph Lauren attributed some of its strong third quarter earnings to these virtual investments and the younger generation of shoppers it has attracted. The overall gaming market was valued at $173 billion in 2021. Other companies like Nike, Adidas, and Vans World are now betting there's room for even more growth, and that gaming becomes just one component of a more far-reaching metaverse. And as the virtual world expands, more people are diving into computer-simulated online communities that replicate the real world. The fashion industry thinks it may have found its next pot of gold there. Already, customers can dress up their avatars for virtual worlds like Horizon Worlds and Decentraland. But virtual fashion is not limited to avatars. You can wear virtual garments on Snapchat or Zoom meetings or pose with them for photos for social media feeds. You can show up to a work meeting with a black-tie dress when in real life it is just a t-shirt; or post a picture on Instagram of a luxury jacket that was never touched in real life. Virtual fashion is being sold in a variety of ways: from gaming platforms and digital photos to videos that use augmented reality. The metaverse in the Fashion Market is poised to grow by $6.61 billion during 2022-2026, accelerating at a CAGR of 36.47% during the forecast period.

Streetwear is one of the most striking retail and fashion trends to have appeared in recent years, involving the production, promotion, sale, and resale of casual fashion - footwear, T-shirts, and other items - in ways that bypass traditional retail channels. Customers are often rallied via social media to be the first to buy products that are only available directly from the brand, either in-store or online. The anticipation of a time-limited chance to buy, helps create a tight-knit and almost cult-like relationship between streetwear brands and their consumers. This has helped propel streetwear from being an eye-catching fashion phenomenon that drew its inspiration from the countercultures of the 1980s and 1990s - including graffiti, hip-hop, skate and surf - into a multi-billion-dollar retail market.

Formrunner Apparel Inc. has built its reputation by delivering on both Clothing quality and price to become one of the most respected and trusted names in the Retail Clothing Space. Our customers admire our variety of high-end clothing, top notch customer service, competitive pricing, and easy payment alternatives. Since Hyperviolent first opened, Formrunner Apparel Inc. has managed to set up valuable long-term relationships with customers and distributors.

About Formrunner Apparel Inc.
Formrunner Apparel Inc. is a owned subsidiary of FBC Holding, Inc. Formrunner Apparel Inc. carries a variety of Top-Notch Streetwear & Accessories found in Scottsdale, Arizona. Formrunner can be viewed and bought on the Company's website at www.formrunnerapparel.com

Formrunner Apparel Inc's main website at www.formrunnerapparel.com

Twitter: https://www.twitter.com/fbc_holding

Instagram: https://www.instagram.com/Formrunner

Instagram (Mall Location): https://www.instagram.com/Hyperviolentaz

Hyperviolent Main Website: https://www.hyperviolent.com

IR Contact:
info@formrunnerapparel.com

Forward-Looking Statements
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements. Actual results may differ materially from those described in forward-looking statements and are subject to risks and uncertainties. See FBC Holding, Inc filings with OTC Markets, which may identify specific factors that may cause actual results or events to differ materially from those described in the forward-looking statements.

Safe Harbor Statement
This release includes forward-looking statements, which are based on certain assumptions and reflects management's current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions, sector changes and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success; the level of expenditures necessary to maintain and improve the quality of services; changes in the economy; changes in laws and regulations, including codes and standards, intellectual property rights, and tax matters; or other matters not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. The Company disclaims any intention or obligation to update or revise any forward-looking ability to secure and maintain strategic relationships and distribution agreements. The Company disclaims any intention or obligation to update or revise any forward-looking.

SOURCE: FBC Holding, Inc.

View source version on accesswire.com:
https://www.accesswire.com/715707/FBC-Holding-Inc-FBCD-Purchases-Real-Estate-in-Sandbox-Metaverse

FAQ

What recent acquisition has FBC Holding (FBCD) made?

FBC Holding (FBCD) has purchased land in the Sandbox metaverse to develop a virtual clothing store.

What is the expected growth of the metaverse fashion market?

The metaverse fashion market is expected to grow by $6.61 billion from 2022 to 2026.

Who is the CEO of FBC Holding (FBCD)?

Lisa Nelson is the President and CEO of FBC Holding (FBCD).

What are the future plans of FBC Holding (FBCD) regarding the metaverse?

FBC Holding (FBCD) plans to expand its virtual retail operations across various metaverse platforms.