Metaverse: 4 Reasons Why It Matters To Retail and Brands

1.Immersive Matters As Much If Not More Than Transactions: Today customers are spending HOURS in immersive environments, making friends, interacting, socializing, creating communities.

2. Community Owned Virtual Worlds are The Future. Or more accurately the present, as it’s already happening. Metaverse removes so many barriers that existed in web 1.0 and 2.0 and allows for freedom. According to Dan Li, a partner at Seattle venture capital firm Madrona Venture Group, the power of the communities are ….. due in part to the “stickiness” of users who help populate the communities with original content. And in ecomm terms, we all know you make more money when you do not have to spend money to acquire that customer base.

3.Go Where Your Customers Are. Whether they are migrating over from gaming or simply curious, metaverse is occupied by current or potential paying customers. The way that consumers engage online is changing, with younger demographics already conditioned to shop and socialize through social media, AR filters, video games and immersive interactive, real-time content. We are witnessing a revolution in consumer be. (source: Metavrse)

4. FOMO. Yes, believe it or not many companies are creating Metaverse content because “everybody else is doing it”. This seems puerile yet a key component for retail for brands is accessibility.

How did we get here.

While there is not exact consensus, a generally accepted idea is that the metaverse is a migration…