Imagine your world, and then imagine it fully digital. For many, it feels like the Metaverse, an immersive virtual space where we can log in to meet friends, work in virtual offices and more. What’s more amusing is that it’s possible to do virtual shopping in Metaverse. Yes, it’s a reality now.
From real estate properties to clothes and accessories – shopping is fun and easy in Metaverse. Creators of online games, social networks, and various technology leaders are watching this market to look for the next revolutionary technology platform.
While social media companies see this as a way to capitalize on revenue, building the Metaverse isn’t exactly cheap. Facebook’s parent company Meta lost more than $10 billion in 2021 alone to work on building its own vision of the virtual world. Such losses prove that companies like Meta are investing astronomical amounts of money in discovering their next stage of growth.
In the virtual world, making purchases through cryptocurrency wallets is possible. Many forms of crypto wallets, whether a flash drive or a mobile app, make it similar to online shopping. Let’s explore how people can purchase different types of real and virtual goods in the Metaverse.
Go For Shopping For Food & Groceries Virtually
Both shopping and dining out are a part of our everyday lives, and both are also possible in the Metaverse. Recently, a video circulated on Twitter about how virtual shopping in Metaverse is possible. The current Metaverse demos still look similar to the 2017 version, so moving our meals to the Metaverse isn’t exactly a new idea.
Grocery virtual shopping in Metaverse can also help with staff shortages, supply and demand and streamline shopping experiences. The first food order for Metaverse was started in March 2021. Therefore, this is one of the most popular virtual platforms for purchasing land and digital assets.
Start Clothes & Accessories’ Virtual Shopping In Metaverse
Fashion in the Metaverse will look a little different than wandering through our closets to pick out our everyday outfits. Using digital clothing “worn” through augmented reality, you will equip digital avatars and possibly turn them into non-fungible tokens, or NFTs, to trade and collect. With NFTs growing in popularity, fashion brands have jumped on board.
We are approaching the Metaverse, and avatars continue to be relevant.
Decentraland began offering users the option of creating and selling avatar clothing in June 2021. Some users made money almost immediately. Gucci, Balenciaga, and Fendi have already developed digital collections for gaming avatars. Luxury brands will also be available in the Metaverse.
Also Read: Metaverse in UAE – What People Do
Why Not Go Real Estate Virtual Shopping In Metaverse?
Real estate in the Metaverse will allow you to invest in real estate in the digital realm, which has already gained much traction.
Those who entered the digital real estate market early have already seen massive returns. In 2021, the average price of land on Decentraland was less than $1,000. Today, it stands at around $13,000. Digital homes, lots and land are being bought today because they are assumed to increase in value in the future.
Try The Digital Market For Arts
The art has already made its way into the Metaverse, with NFTs gaining traction. Cryptographic tokens exist on the Blockchain and cannot be replicated.
In the Metaverse, NFTs can be used in art galleries, virtual marketplaces, and auctions. Online tracker has estimated that the NFT market will hit $15 billion in 2021.
Check Out Virtual Goods
Virtual goods are already transitioning into the Metaverse. Meta is currently testing ways for creators to make money on its Horizon Worlds social Metaverse platform, hoping they can monetize virtual items and effects. Some platforms are estimated to have over 220 million monthly players and up to 22 million players on any given day.
Red Room currently allows creators to sell items they craft.
There is also an income opportunity for beer drinkers in the Metaverse, where virtual beer has become a hot topic.
Metaverses will feature virtual shopping, digital avatars, and outfit generator apps, for better or worse.
Does an AI Avatar Have A Role In The New Reality Metaverse?
As avatars powered by Artificial Intelligence express our identities and represent who we are in the virtual world, they will play a significant role in the Metaverse experience. In addition to facilitating shopping experiences with friends, avatars will also facilitate sales assistants who can assist with the sales process, guide you through the virtual store, provide advice, and guide you through the shopping process.
You can even walk into a virtual store through your digital avatar, check out the offers, and choose the items you want to buy. With the advent of the Metaverse, we will be able to travel between different virtual worlds instantly, creating an even more unified experience.
The Virtual Shopping In Metaverse: what lies ahead? There’s not a long way to go before we can walk into virtual stores, purchase clothes with our digital avatars, and receive style recommendations from AI store assistants in a different world. AI and advanced technologies are already being used to create a more engaging shopping environment and drive the realization of the Metaverse concept in general in this new era of the Metaverse.