Mike Stelzner interviews Cathy Hackl who urges businesses to buy land, build in the metaverse and metaverse commerce, if they serve clients who spend time in it. So many great nuggets and suggest you read Social Media Examiner’s notes for their great wrap of what was shared here.
What is metaverse commerce?
In addition to commerce (physical to physical), ecommerce (digital to physical), and virtual to virtual commerce which has been huge in gaming spaces for decades and in 2021 was a 100 million dollar industry (not including NFTs), Cathi suggests brands should be looking at metaverse commerce which has not been done to scale yet and is huge opportunity e.g.
- virtual to physical commerce e.g. virtual fashion house aura bora (buy necklace for avatar and it gets delivered to your house)
- physical to virtual commerce