NFT role in E-Commerce with the Metaverse
Apart from the shift in marketing strategy, people will place a higher value on digital goods as they spend much more time online. NFTs can represent both digital and physical objects, such as art, gifs, music, and films, as well as real-world items like tickets to live events, car deeds, and legal documents. Although each NFT can only represent one object and have one owner, creators can make NFTs for each thing they create. NFTs can be used for a variety of purposes, one of which is to increase the inventors’ earnings. Consider the field of digital arts. It’s possible that someone could just take a screenshot of the original, but if it’s represented by NFT, the replica won’t be worth more than the genuine thing, much like physical objects. Moreover, NFT role in E-Commerce with the Metaverse.
What Will An Online Shop Look Like?
Now comes the question, what will an online shop look like in the metaverse? The sheer amount of designers and developers working on the metaverse makes it almost impossible to predict what a store
might look like in the metaverse. It is expected to be a one-of-a-kind experience. Many boundaries to the metaverse have already been torn down by online stores. We can shop online, pay with a variety of methods, take virtual tours, and so much more. However, the metaverse provides this totally immersive experience, and what may be “created” in the metaverse is almost limitless. As a result, we anticipate that shopping in the metaverse will provide extremely unique experiences.
For instance, A scuba diving business, for example, could exist “underwater” in the metaverse; you might be able to “meet” your heroes when shopping at a football club store while shopping in a comic shop, you can be greeted by your favorite superhero.
Brands Entering in the Metaverse with NFTs
Shopify
Shopify just announced the launch of its NFT marketplace, which allows users to buy, sell, and exchange tokens using its e-commerce platform. Shopify’s purpose is to provide a platform for merchants and buyers to trade without the need for a third party, as well as give creators more authority and control over their non-fungible tokens.
Gucci NFT and Roblox Collaboration
Gucci was one of the first brands to enter the metaverse. Gucci’s mission is to “really surpass product photographs… and replace them with something that is far more engaging and similar to offline buying.”
Gucci goes further with its collaboration with the gaming platform Roblox, launching their “Gucci Garden.” This Gucci Garden, similar to the physical Gucci Garden Archetypes installation in Florence, immerses visitors in the world of creative director Alessandro Michele.
Can we Expect New Types of E-Commerce?
We should expect new types of e-commerce to arise as a result of these beginnings.
● Brands will be able to provide hyper-personalized experiences to their customers without having to worry about the many hurdles that exist in the real world.
● Individuals have the freedom to pick how they want to experience the world, which games they want to attend, and which stores they want to shop in at any time and place.
● We are evolving from simply telling stories to really living inside them, thanks to emerging innovations like a metaverse.