Engagement with the metaverse may be a way off for many. But to avoid being left behind as momentum builds, it’s worth considering some of the essential points that will have a bearing on planning and executing commerce in the metaverse.
1) As is usual with new platforms or channels, from smartphones to social media, a big question will be ‘who owns the customer’ and ‘who owns the data?’. There could be a scenario where you as a merchant will have to negotiate terms and conditions with every metaverse lithuania telegram screening operator you want to work with, be it Fortnite, Roblox or Apple, just as you do with media today from digital advertising to streamed TV.
2) Where do you see the metaverse sitting in your customer purchase journey? Digital experiences are enjoyed by all age groups but there’s a younger skew to those who participate in the current immersive worlds and gaming experiences of offer. Channel mix and resource allocation will be big questions for commerce and CX directors.
3) There’s a growing eco-system of intermediaries, technology partners, designers, brand licensing experts and other solutions providers surrounding metaverse development that merchants will need to work with to take their first steps. These will have to be researched and evaluated – maybe by the ‘Chief Metaverse Officer’ of the future.
4) Payment solutions will be key to the user experience and commercial transactions. Current operators may have their own financial economic system e.g., Robux in Roblox. These currencies can be exchanged for ‘real world’ currency. The future scenario is likely to involve transactions based on a mix of legal tender, digital currency using crypto wallets and/or non-fungible tokens (NFTS) created on blockchain platforms.