October 19, 2022

"The Metaverse is the Marketplace." -🍌🐀

A 🧵 by the 🍌🐀

Look into the future…Coinbase NFT, LooksRare, OpenSea, and other NFT marketplaces will become obsolete or relegated to the back end of the retail buying chain sooner than people realize.

Why? Because…

"The Metaverse is the Marketplace." - 🍌🐀

The retail migration to the Metaverse Marketplace will happen more quickly than people realize. This transformation is already underway with early pioneers like Maritime Vintage, RTFKT, Dolce & Gabbana, and other retail companies embracing Metaverse platforms like Oncyber, House of Kibaa, and Roblox. The move to a full Metaverse Marketplace is underway. I have included a link to our Maritime Vintage digital twin in the Metaverse.

The biggest constraints right now for a fully operational Metaverse Marketplace are:

The adoption of augmented reality (AR) glasses and, later, Virtual Reality (VR) glasses
The safety and ease of use of Crypto wallets
Lack of blockchain asset theft and fraud insurance

The adoption of augmented reality glasses, & virtual reality devices.

Augmented Reality (AR) technology is evolving and being adopted by consumers and businesses in all industries. The AR smart glasses market is expected to reach $7.2 billion by 2023. (-MS)

One of the most undervalued technologies on the market right now is AR, but it will not be for long. The ability to combine the virtual and physical worlds promises to improve our daily lives and strengthen our business communities.

AR devices will be used for advertising, influencer marketing, and driving engagement on social media platforms as well as the Metaverse. Many influencers and brands use AR filters and AR elements to do their marketing today, with SnapChat filters being one of the leaders in this space. So, do not wait: Start planning your AR Marketing Strategy today.

As the AR and Virtual Reality (VR) Metaverse advances, we are starting to unlock the potential of AR devices. At this point, we can begin to imagine what the world will look like when we all live in a giant version of Pokémon Go. Don’t think it is going to happen? Look no future than RTFKT Animus & Clone X Projects.

AR and VR technology can help boost productivity and efficiency, reduce costs, increase sales, and aid in customer community engagement through storytelling. Why wouldn’t you want to have it in your company's arsenal?

AR devices will change the way customers and employees are introduced to your company's services and your community. On a community level, the scope of using AR devices for immersive real-world shopping and gaming will change the way one experiences products and engages with a brand community.

For enterprises, training videos for knowledge transfer will be displayed using AR to emphasize real-life solutions. Hallways and streets will act as HUD displays. Once AR integration hardware is widely available and mainstream, the shift to buying and selling in the AR Metaverse will begin.

By the end of 2022, it is predicted that the number of AR mobile users will be 3.5 billion. Sales of AR/VR headsets will reach 65.9 million units in 2022. (-MS). By 2024 the number of AR users is projected to reach 1.73 billion.

Statistics show that 61% of online shoppers prefer making purchases on sites that offer AR shopping experiences. - Deyan Georgiev

35% claim that AR would increase how much they shop online.
49% say that they are willing to pay more for a product as long as they are allowed to preview in AR.
45% think that AR features save customers time spent on decision-making and encourage return shopping.

Fully interactive VR environments will be mainstream by 2025, so start planning for the arrival of the Virtual Reality Marketplace today.

Creative AR solutions will build brand loyalty and attract new consumers. Are you ready for the future of retail? Because…

“The Metaverse is the Marketplace” – 🍌🐀

We need affordable, fashionable, and easy-to-use AR devices and we want them now. This is a crucial pillar of the “Metaverse is the Marketplace” philosophy, and a critical step if we are to introduce Metaverse Marketplaces to the masses.

The Safety and Ease of use of Crypto Wallets and Crypto Exchanges

Currently, digital wallets and blockchain marketplaces are not safe to use. The security of digital blockchain wallets is currently lacking and this lack of security makes it hard to onboard new users. Ease of use is another issue for digital wallets, as they are currently not easy to use at all! Digital wallets have to be simple to use and made safer if the new wave of entrants to Web 3.0. are to be successfully onboarded.

We need “easy and safe” wallets. This is a key pillar of the “Metaverse is the Marketplace” philosophy, and a critical step if we are to introduce Metaverse Marketplaces to the masses.

What do we want? “We want “easy & safe” wallets and we want them now”. -🍌🐀

Blockchain Asset Theft and Fraud Insurance

Another factor that will help the mass adoption of Metaverse Marketplaces will be the introduction of blockchain and NFT asset insurance. Once blockchain asset insurance is available to the masses(more on this in an upcoming blog), the “Metaverse Marketplace” will become a safer space, a time-saver, and a fun place to make purchases with an acceptable level of risk.

“The Metaverse is the Marketplace” - 🍌🐀

It is only a matter of time before “Metaverse Marketplaces” will replace the web browser as the primary means of accessing the blockchain and Web 3.0. You will also see brick-and-mortar retail move into the Metaverse as AR marketing and retail sales strategies take hold.

Only when AR glasses, safer wallets, and NFT insurance are available on a wider scale will we see this technology rolled out to the masses. And then, I expect we will then see mass adoption.

This AR rollout is happening now. Look to companies like Snapchat, Google, and RTFKT/Nike to be leaders in this new form of AR hardware and experiences.

Bonus Thought: The importance of Digital Twins

Digital twins will be a critical factor as AR retail takes hold in the Metaverse. Remember, we will see AR retail before we see VR retail. To stay competitive, sellers will need to have AR marketing strategies and a Digital Twin infrastructure and inventory strategy.

RTFKT and Nike are a leader in this type of AR retail transformation. Having integrated NFC (near field communication) chips into their latest NFT/fiscal world fashion release with Nike and Takashi Murakami.