The FT reviewed hundreds of patent applications by Meta and found references to a “virtual store” where users could buy virtual products, as well as objects that correspond to real-world items that have been sponsored by third-party brands.

A patent reviewed by the FT said brands would go through a bidding process to “sponsor the appearance of an object” inside a virtual store.

Meta’s head of global affairs Nick Clegg told the FT in an interview that the business model for the metaverse would be “commerce-led”.