The Web 3.0 era has unleashed valuable opportunities for brands that were not available before. Today, the metaverse stands at the forefront of revolutionizing the e-commerce industry. Hence, retailers and wholesalers will have to follow an omnichannel approach during their marketing and advertising campaigns. Let us take a look at some of the best e-commerce metaverse in the world whose impact transcends across borders.
The Chinese e-commerce major views the metaverse as an integration of the physical and the digital world. Alibaba is focusing more on Augmented Reality (AR) glasses. People can access games and movies as digital images are imposed over the real world. It has also registered a trademark named “Ali Metaverse” and “Taobao Metaverse”.
Alibaba’s exploration into the metaverse will revolve around enhancing the customer experience and improving the efficiency of B2B trading. After coming out with a metaverse art exhibition during the singles’ day in 2021, the online shopping giant has set up a unit named Yuanjing Shengsheng. This paves the way for Alibaba to focus on the gaming potential of the metaverse.
As a leading brand in the e-commerce industry, Amazon will transform the online shopping experience for billions of customers. It has come out with Amazon View where buyers can customize their room with products in Virtual Reality (VR).
Operating as an extension of the metaverse, Amazon View will act as an Augmented Virtual Room. Users can swipe the items in the virtual room. They can take snaps of the products before purchasing them and view them in AR simulation. Several templates are available for customers to design their spaces.
The Indian e-commerce firm has established Flipkart Labs as part of its foray into metaverse and NFTs. It is also focusing on Play-to-Earn (P2E) and virtual storefronts. Thus, Flipkart will give more attention to immersive commerce and blockchain-related use-cases amidst a paradigm shift from Web 2.0 to Web 3.0. It also views the third generation of the Web as the next iteration of the Internet. Flipkart will aim to transform logistics, supply chain, and customer experience by revamping its digital commerce business.
The American retailer is planning to sell virtual goods. Walmart will also come out with a digital currency and an NFT collection soon. These emerging technologies will be a key part of its long-term strategy to transform the shopping experience for customers. Having filed several trademarks, shoppers can soon find themselves buying products in a 3D metaverse (virtual environment). Besides that, Walmart will look to rejig its home delivery service by offering 3 brands (Verse to Curb, Verse to Store, and Verse to Home).
Having used blockchain technology since 2017 in its food supply chain, JD.com’s entry into the metaverse doesn’t come as a surprise. The Chinese e-commerce major launched Lingxi, a platform for selling digital collectibles in December 2021. JD.com plans to use NFTs for copyright protection, detecting counterfeit products, and e-contracts. It also came out with an NFT collection on JD Chain.
The Canadian e-commerce firm allowed sellers to sell NFTs through their virtual storefronts. Merchants can use either the Ethereum or the Flow blockchain. Online sellers can build customer loyalty and brand value by utilizing digital collectibles. Shopify platform will be utilized for flash sales and merchandise drops. NFT holders will get exclusive access to new products and rare collections.
It was the first e-commerce platform to recognize the potential of NFTs. Buyers could purchase trading cards, images, and video clips. Sellers will also get an exclusive NFT inventory for trading blockchain-based digital collectibles on the WAX blockchain. In the long run, eBay aims to bridge the gap between creators and collectors.
The Japanese e-commerce platform launched its own NFT marketplace in February 2022. Currently, it allows customers to trade collectibles in a peer-to-peer manner across categories like anime, entertainment, music, and sports. Shoppers can also use their Rakuten points while making purchases. Hence, Rakuten is planning to strengthen its user base by integrating NFTs as part of its loyalty program. Moreover, Intellectual Property (IP) holders can issue NFTs by building their own websites/ portals.
Unquestionably, NFTs are the next big thing in the e-commerce industry. Big conglomerates have led the way in adoption so far. The metaverse will play an integral role in product launches and loyalty programs. Do you wish to change the future of shopping? It is best to start now, become part of an e-commerce metaverse, and entice customers across the globe.