According to McKinsey & Company, the metaverse could reach $5 trillion in value by 2030. eCommerce is expected to become the main engine of the virtual world, with gaming, entertainment, and marketing to support growth. However, the metaverse is not just about Facebook. Having created the term and rebranding itself as Meta, the Silicon Valley giant has publicized the concept already brewing in multiple sources elsewhere. So if you like to boost the digital transformation of your business by adding a new layer of reality, read further about how you can do it.
Almost 3 bn people play online games. It’s a massive market and a $200bn industry already. Recently, Decentraland, a metaverse platform has reached a valuation of more than $1bn, with 39 investors piling in over 24 hours. European metaverse startups are raising the stakes too with $666m investments attracted in 2022. Five fold increase over full 2021. Notably those investments are made during the period of financial reckoning that deflated the valuation bubble of numerous technology startups.
We don’t just advise on orchestrating information about goods/services flows between different channels (different channels require specific approaches). We help to drive sales and let your business succeed.
For example, London-based startup Hadean developed vital metaverse components and signed multi-year agreements in entertainment (Minecraft, Pixelynx, Sony, and Gamescoin), as well as with education and enterprise digital twin providers.
The virtual apparel market is snowballing as users want to dress their avatars, but creating assets remains a complicated process. Customuse offers an accessible design platform for anybody to make, wear and sell virtual apparel for games and social media like Roblox, Zepeto, and Snap.
There’s also the emergence of digital native fashion designers that defy the traditionally high barriers of entry to building a fashion brand, like Auroboros, a metaverse native luxury fashion house. In addition, fashion is catching the power to produce digital-only products, also known as “direct-to-avatar” (D2A). The first Metaverse Fashion Week was held this past year, featuring Web3 native brands and notable fashion brands like DKNY and Dolce & Gabbana.
So, the metaverse brings about a new economy of digital goods, entertainment, and services.
Omnichannel has become a significant concept in the retail industry, and brands have been striving to create cohesive experiences between eCommerce, stores, and social media. However, catering to every conceivable shopping journey requires advanced technological resources and total data alignment across every touchpoint, something that even large retailers need help coordinating effectively. The metaverse is a new commerce channel that fills the gap between online and offline channels.
As far as metaverse is concerned, 3D product information becomes very relevant. But, at the same time, there is an urgent need for appropriate technologies to manage that information and data, both by uploading or creating it and then placing it in separate channels and integrations.
We can help you manage and advise on every aspect of your business’s digitalization.
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“Invertus, as an IT solution provider and digitalization advisor, is commercializing solutions that help our customers grow their businesses both online and offline. We know how to connect all channels to a seamless customer shopping journey, and we’re looking forward to adding yet one more. We don’t just advise on orchestrating information about goods/services flows between different channels (different channels require specific approaches). We help to drive sales and let your business succeed.” – says Jurgis Gylys, CPO/CQO at Invertus.