Metaverse NFT

How Your Retail Experience Will Be Transformed by Metaverse and NFT?

How Your Retail Experience Will Be Transformed by Metaverse and NFT
How Your Retail Experience Will Be Transformed by Metaverse and NFT

When Sam Walton opened Walmart in 1962, he could not have envisioned metaverse and NFT. But in 2022, it is a reality that almost everyone believes. According to Bloomberg, Walmart has filed for trademarks that include the word “Verse” in them, e.g., “Verse to Store” and “Verse to Home”. It is a clear indicator that the famous American store is ready to enter the metaverse.

The Current Metaverse Connection is not Walmart’s First VR Initiative

The current initiative by Walmart is not its first attempt at Virtual Reality (VR). In fact, as early as 2017, Walmart released a VR experience as ‘brand activation’ (an old practice for popularizing a brand amongst people) that was later ridiculed for its awkwardness. The video showed a clumsy shopper browsing through an online virtual store. Many people found the video cringe-worthy and not a good use of VR technology. 

Considering the flak received by Walmart for its first VR attempt, we can expect it to do much better on its second try. The current VR technology is far more refined, and contemporary VR headsets come with advanced functionalities and higher resolutions. So, Walmart has ample incentives and opportunities to create the best experience for its buyers and leave its competition in the dust. 

Walmart’s metaverse will have Everything for Everyone, Even NFTs

On 30th Dec 2021, Walmart filed for multiple trademarks, indicating that it plans to sell appliances, electronics, toys, sporting goods, and other goods. It has also been revealed that Walmart will provide its customer with a currency that can be used digitally along with an opportunity to shop for NFTs

The length and breadth of Walmart’s metaverse plans indicate that it is ready to go all-out and capture the virtual retail market. 

But Walmart’s plan does not end there. It is also expected to deal in ‘health and nutrition classes’ and ‘physical services related to fitness’. These training sessions and classes will most likely be held in the virtual real-estate offered by Walmart’s Virtual Reality (VR) and Augmented Reality platforms.

Although Walmart is not confirming its plans for Metaverse and NFT, it can confirm Walmart’s trademark filings on TESS (Trademark Electronic Search System).

How Your Daily Shopping Will Be Like in Metaverse?

Just imagine yourself entering a virtual store in the metaverse. Do you think your experience will be different?

If you can’t imagine how we can help you. Just remember, the full potential of metaverse might not be realized initially, and we may have to wait for a while:

You can see yourself in/with the product

You no longer need to buy a size shorter or a size bigger because the store is out of stock. Virtual stores will connect directly with the company’s warehouse and send you the items in the ‘fit’ you want. In fact, you will have the ability to get hold of custom products that are tailor-made for you. For instance, your 3D virtual avatar (with your exact body dimensions, complexion, hair, etc.) should be able to try the clothes, apply the hair color/makeup, or test drive a car, all from the comfort of your home. 

The physical feel of a product will have a different meaning

How do you check if a perfume is right for you? By smelling it, of course.

Currently, OVR Technology’s ION device provides you the ability to smell and even touch and feel the object in front of you. For instance, you can wear it to differentiate between a rose and a tomato-based on its smell and texture, even in the metaverse.

Metaverse will provide a different meaning to the sense of touch and smell, which will help us choose better.  

Coronavirus will not spoil your shopping experience

For a long time, the Covid-19 pandemic has messed up the life of people. But with a metaverse store just a click away, you will be able to shop without putting a step outside.

Buy NFTs in the metaverse from your favorite celebrity

If you like Paris Hilton or Snoop Dogg, then your chances of meeting them at a metaverse store will be much higher than in real life. You will be able to buy their NFTs and probably interact with them as well.

Conclusion

As Walmart enters metaverse, it is a matter of time before retail metaverse shopping becomes a reality. Consequently, the power of metaverse and the intrigue around NFTs will only rise. In short, metaverse and NFT will start dictating our day-to-day shopping behavior. We are currently seeing the creation of many innovative VR technologies that cater to the metaverse. And their number is likely to grow many times in the near future. The possibilities are endless, and there is no stopping metaverse and NFTs from entering our lives, so sit back, relax and enjoy the ride.

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Disclaimer

Any references including blog post and web stories on this website are an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice. AnalyticsLord.com can't be held liable for any financial loss.

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