Share this article
Metaverse Can Build Access for Big Companies, Says Virtual Brand Group CEO
The metaverse-building company is looking to leverage the digital ecosystem so big brands can expand their demographic footprint while increasing their revenue streams.
Updated May 9, 2023, 4:05 a.m. Published Jan 10, 2023, 8:05 p.m.
The metaverse provides big companies an opportunity to expand and leverage their position in the world of commerce, according to Justin Hochberg, CEO of metaverse building company Virtual Brand Group (VBG).
“In the metaverse you can reposition yourself to a totally new demographic, new revenue stream, new products and new style,” Hochberg said on CoinDesk TV’s “First Mover” from the Consumer Electronics Show (CES) in Las Vegas.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The Los Angeles-based company is a middleman for global companies looking to expand their endeavors in the metaverse. It has partnered with the likes of retailer Forever 21, "The Voice" program and even Mattel's Barbie.
Hochberg said the company focuses on building “a whole new set of ways” for brands to connect with consumers while generating revenue. Though he did not disclose the amount of revenue the company has generated for its partners, he said VBG “makes multiple millions of dollars in virtual goods.”
Those virtual goods are divided into categories, according to Hochberg, and include token-based marketplaces, sponsorships with brands and rewards programs, which he said the company is planning to implement next on the popular entertainment program “The Voice.”
“Our expertise ranges across all of those things,” Hochberg said. He added that what the metaverse provides in value is elbow room for companies that may not have exceedingly large budgets.
Hochberg noted that Roblox, an online gaming platform, is one way brands can use online marketplaces to increase a brand's visibility.
"Forever 21 ... had not done a thing in the metaverse 12 months ago," Hochberg said. Now, the company is ranked as "one of the top 10 metaverse brands," according to Analytics Insight.
VBG, too, has partnered with Mattel's Barbie, he added.
“All of this will open up eventually,” Hochberg said. “From our strategy, we go to brands, we make it easy for them by finding something they feel familiar with, and then we extend it.”
Read more: Virtual Worlds, Real-Life Use Cases: How Web2 and Web3 Tackled the Metaverse at CES 2023
CORRECTION (Jan. 18 17:00 UTC): Corrects that Roblox sells only virtual goods, not physical ones.
More For You
L1 tokens broadly underperformed in 2025 despite a backdrop of regulatory and institutional wins. Explore the key trends defining ten major blockchains below.
What to know:
2025 was defined by a stark divergence: structural progress collided with stagnant price action. Institutional milestones were reached and TVL increased across most major ecosystems, yet the majority of large-cap Layer-1 tokens finished the year with negative or flat returns.
This report analyzes the structural decoupling between network usage and token performance. We examine 10 major blockchain ecosystems, exploring protocol versus application revenues, key ecosystem narratives, mechanics driving institutional adoption, and the trends to watch as we head into 2026.
More For You
Tensions over El Salvador's bitcoin holdings ease as IMF praises economic progress
The Central American country’s economy is projected to grow 4% this year, the IMF said.
What to know:
- The IMF praised El Salvador's stronger-than-expected economic growth and progress in bitcoin-related discussions.
- El Salvador's real GDP growth is projected to reach around 4%, with a positive outlook for 2026.
- Despite previous IMF recommendations, El Salvador continues to increase its bitcoin holdings, adding over 1,000 BTC during November's market downturn.
Top Stories
