Home Metaverse The Metaverse and Ecommerce: Merchant’s Dream, Consumer’s Paradise

The Metaverse and Ecommerce: Merchant’s Dream, Consumer’s Paradise

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e-commerce is becoming more and more popular, 1 in 4 The planet is shopping online now. With this in mind, e-commerce is about to enter a period of transformation as the Metaverse twinkles on the horizon.

The rise of e-commerce has steadily surpassed the brick-and-mortar shopping we once loved due to its inherent ease and convenience.

Sure, it’s nice to go shopping with friends and be greeted with a genuine smile and a human touch. But how often do we experience genuine smiles and quality customer service?

As a matter of fact, going shopping is a tiring and unpleasant activity that consumes a large part of your precious time and is very unpleasant, especially when you are caught up in the shopping chaos of the weekend. There is often.

Therefore, in the era of e-commerce, much of this burden has been removed. Enter the virtual shop and with just a few clicks on our highly optimized website or application, you’re done. I’m in the middle of shopping, but I haven’t broken a sweat yet.

Enter the metaverse. The Metaverse has come at a perfect time as the convergence of technological innovations such as virtual reality (VR) and augmented reality (AR) are revolutionizing the customer experience.

Now, as we reach new heights of immersion in our digital shopping journey, the Metaverse will build a bridge between the physical and virtual experiences we enjoy.

Certainly the human touch will be handled in the Metaverse. A personalized experience is provided in his immersive 3D virtual environment, where a friendly avatar assists with his needs and allows him to shop online with friends.

We navigate the different virtual islands from the comfort of our chairs, searching for goods in a silent ocean surrounded by an ocean of possibilities.

You might be thinking, “Oh my God, the metaverse doesn’t even exist yet!” Indeed, we are not there yet. We are far from a seamless, interoperable virtual world with unlimited exploration of 3D environments.

At this time, the Metaverse is under construction. We know that many big companies are investing heavily in the Metaverse, including Mark Zuckerberg and Meta. Plus, we’ve seen video teasers from Meta and Microsoft, so we know a little bit about what’s being visualized.

It is more realistic to say that we are currently in the metaverse development stage. We are entering an era of increased presence and interaction with our favorite brands online. Therefore, in the coming months and years, we will experience a whole new virtual world featuring exponential technologies such as virtual reality, augmented reality and non-fungible tokens (NFTs). .

Brands are starting to see an opportunity in the metaverse. If the age of the internet and social media is transformative for brands, imagine what they can do with immersive 3D virtual worlds that make them more immersive and real.

What Gucci built gucci garden Last year, I spent 14 days experiencing the popular gaming platform on Roblox, which was a great insight into the future of e-commerce. The virtual garden recreates the Gucci garden in the real world to create a visually stunning exhibition. There was also a Gucci store where you could buy limited-edition digital wearables for your avatar. A virtual Gucci bag sold for his over $4,000 USD.

Similarly, last year, Sephora brought to life a virtual event called “SEPHORiA: House of Beauty,” a virtual 3D game-like environment featuring an interactive beauty “house” with multiple rooms to explore. was invited to For example, the ‘Family Room’ allowed for community interaction and discussion with industry brand his leaders.

These examples are just the tip of the iceberg as we approach unprecedented consumer experiences in the digital world, powered by amazing advances in technology.

e-commerce gamification

At the forefront of the metaverse will be gaming experiences built with the e-commerce revolution.

Charlotte Tilbury, a popular skincare and makeup brand, created a VR online store in 2020, building on this experience “Shopping with friends” Available on desktop and mobile, this new feature allows users to invite friends to the virtual store and enjoy an interactive 3D shopping experience together.

Additionally, Charlotte Tilbury has incorporated a game feature that prompts customers to search for hidden keys throughout the store. Thus, customers now have a reason to stay longer and hang out in virtual stores. As seen in popular games such as Fortnite and Roblox, playing games is highly addictive and motivates players to spend money. If brands can perfect this gamification within the metaverse and build meaningful experiences in their virtual stores, they will benefit.

Games are all around us in the Metaverse as we use our own personalized 3D avatars to traverse different platforms. Retailers inevitably create compelling plans and activities to keep us trapped in the retail world. Historically, retailers have encouraged us to return to their stores through their loyalty points system. Now imagine the possibilities when you can build your own virtual 3D experience for your personalized customers.

Louis Vuitton entered the Metaverse by creating “Louis: The Game.” In this experience, along with the protagonist Vivian, he explores six different worlds where he must collect 200 candles in honor of Louis Vuitton’s birthday.

Two new expansion levels were recently added to the game, allowing players to travel through virtual worlds to collect 10 new NFTs (Non-Fungible Tokens) and learn about Louis Vuitton’s rich history. . The brand’s indulgence in gaming is highly calculated, allowing the brand to tap into a hitherto untapped demographic: his Gen Z consumer.

Moreover, this experimentation with NFTs is just the beginning for big brands.

Electronic commerce using NFT

NFTs pave the way for the metaverse economy and e-commerce will greatly benefit from this technology. The NFT craze began last year with collectible digital art, but now we’re starting to see glimpses of its potential as brands increasingly engage with NFTs.

First of all, NFTs are highly dynamic and can have multifaceted utility in the physical and digital worlds. As digital tokens stored on a transparent blockchain, with the underlying irreversible code, creators can incorporate any utility their imagination desires.

From a merchant’s point of view, this would be a dream come true. They can build hype about their products with NFT launches, assign rarity levels to generate surging demand, and collaborate with trendy and cool artists who have their own followings.

Additionally, as an NFT creator, you can write the benefits of the physical and virtual worlds into a “smart contract” (the underlying code), building a bridge between the two realms.

Retail brands that recognize NFTs

When Nike recognized the potential of this technology, Acquired RTFKT Studios They are the creators of stylish virtual sneakers and wearables for the Metaverse.

RTFKT Studios famously launched the reality-fused NFT collection, allowing customers to redeem real physical sneakers as well as digital ones. Since this launch, the collection has sold out in his 7 minutes and RTFKT Studios has grossed him US$3.1 million.

Debut collaboration between Nike and RTFKT studio “RTFKT x Nike Dunk Genesis CRYPTOKICKS, A big hit with the community and an amazing pair It sold for $160,000.

Adidas also unveils debut NFT collection “To the Metaverse” Collaborated with Bored Ape Yacht Club in December. Owners will receive physical merchandise such as adidas’ iconic tracksuits and hoodies, as well as “an open Metaverse land experience co-created with the community.” There lies the future of e-commerce, where your favorite brands offer benefits in the real and virtual worlds.

Given the scope of what is possible, the future for brands in this space looks incredible. In fact, Gap partnered with artist Brandon Sines to launch an NFT collection on the Tezos blockchain in January this year, doing something similar for Adidas.

Their NFTs came in varying levels of rarity, with the “Epic” NFT including a limited edition physical hoodie along with digital art by Signes, creator of cartoon character Frank Ape. .

Therefore, brands will become more creative and inspire a new era of e-commerce.

retail

Ownership and authorization

What makes all this possible is the instant verification of NFTs, all stored on a decentralized public blockchain. This makes everything seamless for distributors, allowing them to enter vast new market segments while embracing new technologies.

Importantly, NFTs give consumers an unprecedented sense of empowerment and ownership. NFTs are not only collectibles, they are also assets and can increase in value over time. Certainly, as NFT’s absolute owner, you have a choice. You can keep your NFTs, sell them, trade them, or give them as meaningful gifts.

That is why NFTs will support the metaverse economy and future digital society. A new world has opened up where creators can suddenly be at the forefront, empowered, and engage with their communities in ways never before possible. In fact, a decentralized blockchain is heaven for creators, cutting out the middlemen and keeping all the profits they make from NFTs.

For consumers and e-commerce, virtual shopping experiences with their favorite avatars, exploring immersive 3D environments, and purchasing NFTs will become increasingly popular in the next 5-10 years.

The future of e-commerce

Dear consumers, your online shopping experience will never be the same. The birth of the Metaverse is just around the corner, and in the coming years all your favorite brands will be engaging with their customers in his 3D virtual environment.

The gamification of experiences in these virtual worlds is inevitable, and as cryptocurrency adoption grows, so too will the number of brands working on NFTs.

Additionally, the emerging market for fashionable digital products for use in the Metaverse will continue to grow as brands follow the lead of Nike, Adidas, Gap and the myriad others investing in the space.

We are slowly starting to say “Bon Voyage” for the Web2 Internet age and “Bonjour” for Web3 technologies. The act of staring at a screen and clicking to buy something online will soon become obsolete. Instead, brands invest in the Metaverse, creating immersive worlds for us to enjoy, play, engage with, and ultimately spend money on. The Metaverse needs a safe, secure, and transparent way to validate transactions and prove ownership, and decentralized blockchains and NFTs may begin to overtake traditional, more centralized forms of payment. I have.

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