Yes, likewise we know you are excited too to start your Metaverse Journey.
Once the tech is there, the commerce implications are massive, as the metaverse offers unprecedented access and total immersion to consumers — creating a sort of virtual “third space.”
Brands and sellers can thus:
Operate in a less fragmented marketplace than the internet as we know it. Avoid the “marketplace cut” from third-party discovery or selling platforms entirely. Enable deeper cross-franchise or fan collaboration where, instead of individual brand marketing opportunities (e.g. each brand has its own app or website), the metaverse’s open world allows for more immersive experiences pioneered by both brands and shoppers.
Ultimately, spearheading this effort will require massive amounts of cash, engineering talent, and hunger for domination — making big tech firms the most likely contenders to build out the metaverse beyond gaming platforms like Fortnite and Roblox. With collaborative yet decentralised approach this will be more easy & super fun to build the world of experiences.
Though the complete metaverse appears to be years away, in 2021, look for further convergence of the online and offline amid technological advancements that will enable the build-out of the metaverse. In the meantime, retailers should look beyond the near-term and strive to experiment with VR/AR (including the use of virtual humans), games like Fortnite, or various other existing tech capabilities.
“I think where we’re going as a world [is] where Nike and Adidas will release products in the real world, and then they’ll throw these into a game.
And I think the inverse of that is true in the future. There will be people designing their own brands in these game worlds, and then they’ll be made in reality.”
— Aglet CEO Ryan Mullins
Tech giants like Microsoft, Facebook, and Amazon are likely to double down on this in the coming years, according to VC Matthew Ball, given each’s persistence in owning a significant portion of the online work economy, social graph, and e-commerce infrastructure.
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