Virtual Reality

5 Lessons for Luxury Retail Success With NFTs and the Metaverse
January 11, 2023 at 1:42 pm

The hype surrounding non-fungible tokens (NFTs) and metaverse environments has had highs and lows. Media attention increased dramatically in late 2021 after Facebook rebranded as Meta and virtual art sales made huge profits. This initial fervor quickly subsided with consumer search volume for NFTs and the term “metaverse” decreasing substantially in 2022. It's still difficult…

Industry Experts on Finding Your Brand's Place in the Metaverse
December 1, 2022 at 11:42 am

While the metaverse may not be widespread in retail just yet, there’s clear excitement among industry marketers about the new business opportunities it presents. This sentiment was made clear during a panel discussion that took place at this year's Total Retail Tech event.

Nike Launches a Virtual Marketplace Experience, .SWOOSH
November 15, 2022 at 3:54 pm

On Monday, Nike launched .SWOOSH, its new digital community and experience, the brand announced. The platform is a home for Nike virtual creations and uses blockchain-powered technology — or what many call “Web3” — to offer an inclusive, equitable place for athletes, creators, collectors and consumers to design and own the future of sport. Currently…

Ralph Lauren is Outfitting Digital Characters and Changing its Logo in Fortnite
November 2, 2022 at 4:12 pm

Apparel brand Ralph Lauren and digital game world Fortnite are collaborating to create a digital and physical fashion collection that will live in the online game platform owned by Epic Games and be available for purchase in the real world. The digital collection includes outfits containing "sport graphics and bold designs" with "eye-catching color palettes,"…

How AR and VR Will Enhance the Retail Experience
November 1, 2022 at 3:48 pm

Over the past couple decades, e-commerce has been crowned the biggest development in retailing and is considered the latest transformative milestone. What most retailers don’t know is there are two more enhancements on the rise: augmented reality (AR) and virtual reality (VR). These two are expected to take over the retail chain and enhance the…

What’s Next for Retail in the Metaverse
November 1, 2022 at 2:44 pm

After decades of preparing for virtual and augmented reality to become mainstream, miniaturized wearable displays and more powerful microchips have combined with sophisticated software to give birth to the metaverse — a persistent digital space linked to the real world, connecting multiple virtual experiences developed by separate creators. And as is often the case, the retail…

Retailing in the Metaverse: How to Get Priced Right for Web 3.0
October 27, 2022 at 11:19 am

Despite the first mention of the metaverse being found in Neal Stephenson's "Snow Crash" (1992), it wasn’t until 2020 that the term became an omnipresent buzzword in retail, technology and finance. And it wasn’t until October 2021, when Facebook officially announced it was changing its name to Meta, that it became a household trending term.…

How Retailers Can Find Success in the Metaverse
October 25, 2022 at 12:40 pm

Customer experience (CX) is as important as ever, but meeting customers where they are has become significantly more complex. As technology adoption has exploded, consumers get and engage with content from many sources, including the metaverse. Though it has existed in certain circles for years, the public really became aware of the metaverse when Facebook…

Privacy and Cybersecurity for Retailers in the Metaverse
October 20, 2022 at 10:41 am

Imagine a customer walking into a clothing store. She browses the racks, selects a few items, and asks the sales associate for a dressing room. She walks to the dressing room and tries on the clothes. Then she heads to the counter, pays for some of the items, and leaves. We take for granted —…

How NFT-Based Marketing Helps Brands Improve Customer Loyalty and Increase Revenue
October 13, 2022 at 2:01 pm

Recent research by HubSpot revealed that 39 percent of media planners who use NFTs say they have the best return on investment of any channel in their media mix. Yet, for many marketers, NFTs are still an undiscovered territory, with 16 percent surveyed saying they plan to use NFTs for the first time this year.…