Back in the day, shopping was strictly limited to being a tangible experience. Along came eCommerce, and suddenly the whole world shifted to shopping on platforms with limitless possibilities. Fast forward to today, Virtual Try-On technologies and Augmented Realities have forever changed the way we consume. Shopping online has now regained some of its tangible qualities, blurring the lines between reality and the virtual world.
Picture this: you’re using your phone and are looking to buy a new pair of sunglasses. Well, the Metaverse, in all its glory, takes you to an immersive 3D virtual space where you can experience shopping in ways you are not able to in the physical world.
But why in the Metaverse? Spending so much time online makes users crave the unusual, hence the proliferation of VR and AR experiences in the universe of shopping.
Today, brands increasingly rely on technology and digital innovation to catch customers’ attention and present them with added value. And now, with the Metaverse, they’re giving them the chance to venture into a whole different world with just a click of a button. But our question remains: how do the Metaverse and Virtual Try-On technologies collide? And how do NFTs fit into the equation?
The Metaverse and VTO
At this point, we’re all familiar with the concept of Virtual Try-on and the complex constituents of the Metaverse. But did you know that the two technologies can come together and form one groundbreaking experience for users?
Let’s first start off by saying that the Metaverse is evolving in the tech sector with a predicted $800 billion market opportunity by 2024. Second, shopping in the metaverse means shopping beyond space and time. But with VTO, it also means that shoppers are allowed to wander through virtual stores, browse for products within virtual reality, and the best part of it all, try-on products such as eyewear and makeup and visualize objects in their spaces with AR. And so, we are now able to immerse users in this virtual world by still being able to integrate the “tangible” side, merging two worlds together for an enhanced shopping experience.
Indeed, some brands offer virtual spaces that are intensified with gamification and NFTs marketplace. Take Timberland, for instance, the footwear brand created a digital experience entitled “NL Sky”, where users can walk in their favorite Timberland shoes and go on a virtual adventure toward the Metaverse! The same was created by Dior with the “Dior Walk’n’ Dior” virtual space and Puma’s “Puma RSX3”.
As new trends take over the fashion world and new shopping experiences arise, the global AR, VR, and Metaverse market will roughly reach $300 billion by 2024.
What’s the Deal with NFTs and VTO?
We’ll get to that. But first, what are NFTs?
Non-fungible tokens are unique, digital representations of assets living on a blockchain. They’re a new type of virtual asset that can also be described as intangible, be it an image, a video, or an in-game object. NFT owners and collectors can trade digital assets while the blockchain records all valuable details.
By incorporating digital assets into their strategies, brands have been using virtual spaces and NFTs into one combined experience, i.e, users are thus able to purchase NFTs in a form of digital fashion apparel within a virtual marketplace. On top of it all, through Augmented Reality, NFTs can now be visualized in the user’s space before purchase, adding that much quality to the experience.
In this highly competitive world, brands are trying to gain a competitive advantage by using metaverse technologies to retain customers and boost customer loyalty. This is mostly done through virtual spaces and NFTs, allowing users to seamlessly travel to a virtual world created by the brand itself. One example of NFTs being incorporated with VTO is Brazilian Beauty brand Boticario, which celebrated the Lipstick Day by sharing a collection of NFTs and allowing users to experience a world of product visualizations, beauty showrooms, and virtual campaigns.
The Bottom Line
It’s time to bid farewell to your run-of-the-mill shopping and welcome a new era of fashion where AI, comfort, and ease are high on top of the list. Top brands such as Ralph Lauren and Nike have also adopted digital solutions, creating digital worlds and immersive 3D spaces where users can take advantage of a wide range of products and virtual showrooms, becoming the star of the campaign!
AR, VTO and the Metaverse are not just fads, they’re certified ways to generate and increase sales, and familiarize the customer with the product through a customized retailed landscape and virtual galleries.
Are you looking to upgrade your audience’s online shopping experience to a more engaging, interactive, and effective one? Schedule a demo now to learn more about how we can help you.