Retail in the Metaverse: How the Metaverse Can Transform the Industry

In a short time, the metaverse and Web3 became prominent in the strategic thinking of many leaders. Goldman Sachs sees a potential of 8 trillion dollars in the technology, with proportionately large investments flowing into the sector, and the enthusiasm for business opportunities among retail players is also increasing. However, the challenge is that no one has a clear picture of what the metaverse will eventually become.

Where are we now? The idea of a metaverse has been around for quite some time, and is gaining popularity mainly due to the massive growth of the gaming industry. These are collective shared spaces that embrace an increasing number of virtual collaboration models, including both fully digital environments and digital additions to our physical world. In these rapidly evolving multi-dimensional worlds, users can have completely new experiences through cutting-edge technologies such as Augmented Reality/Virtual Reality (AR/VR), 5G, Artificial Intelligence (AI) or the Cloud.