NeroVerse Newsletter: Shopping in the Metaverse
Online Shopping in Hyperdrive: Getting Some Retail Therapy in the Metaverse
Some people loathe shopping and treat going to the store more like a tactical SWAT operation: get in and out with minimum time wastage, only taking the designated items. Others prefer to take their time whilst shopping, leisurely browsing for hours before purchasing plentiful products they didn’t know they needed or wanted. Whatever camp you’re in, shopping in the Metaverse will radically reshape the way you purchase, consume, and engage with the retail space.
We’ve written before about how the Metaverse will revolutionize the way we play games. And we know that it brings with it unprecedented change to the way we work and socialize. But what about its impact on the way we shop? The shift is already happening.
Take a shopping trip in the Metaverse
It’s tempting to think of the Metaverse as virtual reality. The only problem with this conception is that it is actually reality. We should rid ourselves of the notion that there is a digital world and a purely physical one. The lines between the two are too blurry to serve any sort of purpose. We’ve all been living and working and gaming and shopping in the Metaverse for some time now. The best way to think about the Metaverse is the internet freed from its 2D limitations.
During the pandemic, when we were locked down and working from home, internet shopping experienced a dramatic uptick. Approximately 14% of all retail sales done in the US were online sales. And about 60% of all US consumers shop online at least once a month. What this proves is that people are already well versed in purchasing something that they have not physically touched. But what about selecting and paying for a product that you will never possess IRL? Is this a bridge too far?
The folks at The Dematerialised don’t seem to think so. This virtual goods-only marketplace offers customers the ability to adorn their digital selves with amazing couture pieces. Which, when you think about it, will become a booming trade in the not-too-distant future. As we increasingly shift toward a digital experience of the world, it will be our custom-built avatars who we will use to represent ourselves to others in the Metaverse. And these avatars, like ourselves, need to look unique and stand apart from the crowd. The best way to do this? Go fashion shopping in the Metaverse!
Shopping has never been this easy or fun!
It’s true that big name corporations like Walmart and H&M have already entered the Metaverse. However, their forays feel more like a virtual rendition of what they already provide consumers IRL. When we are talking about how the true Metaverse will reshape the way we buy things, we are invariably talking about NFTs.
As well as acting like a currency of exchange, NFTs are the economic backbone of the metaverse. Retailers will be able to offer NFTs to their customers to improve their overall shopping experience. Indeed, by creating NFTs, retail companies in the Metaverse will be able to offer completely new digital products for their customers (or at least their avatars) to adorn themselves with. No doubt, shopping in the Metaverse won’t simply be a matter of selecting things you need IRL via a VR interface. It will be about purchasing digital products whose ownership is provable via blockchain technology. Yes, you will certainly be able to walk through your favorite grocery store or electronics, apparel, or gaming store in the metaverse and purchase goods that can be delivered to your home. However, the growing trend toward digital-only ownership of assets proves that the modern consumer is ready to make the leap into purchasing digital assets in the Metaverse.
Think about it. When digital cameras first started appearing, no one really thought these would do away with having photos printed to place in the family album. However, most people generally feel comfortable having all of their precious memories residing somewhere in the cloud. The same is true for the things we “own”. As people spend more and more time in the Metaverse, owning a lot of real life assets will become superfluous. It will be about what your avatar owns, what they wear and where they live that matters.
The Metaverse isn’t the stuff of science fiction anymore. It is already here and happening. The only question that remains is: do you want to be an early adopter of this technology that will revolutionize the way humans interact with each other, or not?
At NeroVerse, we’re working to build the future world of tomorrow today. We are passionate about all things NFTs, blockchain gaming as well as the Metaverse at large. We are creating cross-world, interoperable Metaverse experiences for our customers. We know that the future of shopping will look nothing like its current iteration. That’s why we work tirelessly to build the gap between metaverses and provided a cohesive experience for gamers, developers, artists, and NFT enthusiasts.
We know that the metaverse is more than the big companies and organizations that are falling over themselves to get into this space. At its core, a metaverse is comprised of communities, filled with like-minded individuals. NeroVerse aims to grow these communities and provide them with the tools necessary to build engaging virtual experiences. Shopping is just one portion of the way the Metaverse will dramatically change our lives. And it’s only one area that we can see a heap of future potential in. Stay tuned for more!
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