FBC Holding, Inc. (FBCD) Taking A Step Toward Metaverse Technology

Rhea-AI Summary

FBC Holding, Inc. (OTC PINK:FBCD), through its subsidiary Formrunner Apparel Inc., plans to enter the metaverse by launching a virtual clothing shop on platforms like The Sandbox and Decentraland. This initiative aims to capture the growing digital fashion market, as evidenced by other brands like Nike and Ralph Lauren already investing in virtual real estate. CEO Lisa Nelson emphasized the potential of the metaverse, predicting significant growth in virtual fashion, which could reach $6.61 billion by 2026. Formrunner aims to enhance customer engagement in this evolving space.

Positive

• Plans to launch a virtual clothing shop in the metaverse.
• Opportunity to capture a share of the growing digital fashion market, projected to reach $6.61 billion by 2026.
• Engagement in the metaverse aligns with trends seen by competitors like Nike and Ralph Lauren.

Negative

• No specific financial metrics or detailed plans for execution provided.
• The competitive landscape in the metaverse is rapidly evolving, posing potential risks.

SCOTTSDALE, AZ / ACCESSWIRE / August 24, 2022 / Today FBC Holding, Inc. (OTC PINK:FBCD) through its wholly owned subsidiary, Formrunner Apparel Inc. is pleased to announce that the company is planning a feature to explore technologies to enhance its mission in the metaverse space to take over the digital fashion market.

Formrunner Apparel Inc. has been working on a significant plan to launch its Apparel & accessories via a virtual clothing shop in the metaverse on multiple platforms such as The Sandbox & Decentraland by acquiring digital real estate and opening a shop that will allow users to dress their avatars in Formrunner Apparel's latest Fashion! President & CEO Lisa Nelson states "People really don't understand how massive the metaverse is going to become, and our company is deciding to hop onto this explosive opportunity before its too late!" Lisa Nelson also stated, "People from our team attended the Metaverse Fashion Event in March on Decentraland, and there are already big brands involved such as Tommy Hilfiger, Nike, Ralph Lauren that have digital property and stores setup for users to come in and buy products for their avatar!" Formrunner Apparel is always seeking growth & revenue opportunities and will keep the public informed on this topic moving forward!

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 and the company cannot wait to see what the future holds!

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/FormrunnerTM

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.

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FAQ

What is FBC Holding, Inc. planning regarding the metaverse?

FBC Holding, Inc. is planning to launch a virtual clothing shop in the metaverse through its subsidiary, Formrunner Apparel Inc.

What platforms will FBC Holding's virtual shop be available on?

The virtual shop will be launched on platforms like The Sandbox and Decentraland.

How much is the virtual fashion market expected to grow?

The virtual fashion market is projected to grow by $6.61 billion from 2022 to 2026.

Who is the CEO of FBC Holding, Inc.?

The CEO of FBC Holding, Inc. is Lisa Nelson.

What are the potential risks of FBC Holding's metaverse strategy?

The competitive landscape in the metaverse is rapidly evolving, which poses risks to FBC Holding's strategy.