[[{"@context":"http:\/\/schema.org","@type":"Answer","name":"What is the metaverse?","text":"The metaverse melds physical, augmented, and virtual reality to create a computer-generated environment where users can interact, purchase items, game, and have experiences like they would in the real world.","@id":"https:\/\/www.the-future-of-commerce.com\/2022\/03\/02\/the-metaverse-definition-examples-retail-benefits\/#Answer1"},{"@context":"http:\/\/schema.org","@type":"Answer","name":"What is the metaverse in simple terms and how does it work?","text":"The metaverse is a term used to describe a fully immersive virtual universe where people can interact with each other and digital objects in a three-dimensional space. In the metaverse, people can explore and create new experiences, interact with digital objects and environments, and communicate with others in real-time. The metaverse works by using a variety of technologies, including haptic feedback, motion tracking, and advanced graphics and computing capabilities, to create a fully immersive experience that feels like a real-world environment.","@id":"https:\/\/www.the-future-of-commerce.com\/2022\/03\/02\/the-metaverse-definition-examples-retail-benefits\/#Answer2"},{"@context":"http:\/\/schema.org","@type":"Answer","text":"In the metaverse, people can do a wide range of activities, including socializing, gaming, shopping, attending events, and learning. Some people use the metaverse as a place to socialize and connect with others, just as they would in the real world. Others use the metaverse as a gaming platform, playing online games or creating their own games and challenges. In addition to socializing and gaming, the metaverse is also being used for a variety of practical purposes. For example, some retailers are using the metaverse as a way to create virtual storefronts and allow customers to browse and purchase products. Educational institutions are also exploring the use of the metaverse as a way to provide immersive and interactive learning experiences. Overall, the possibilities are virtually limitless, and as the technology continues to develop, the possibilities for what people can do in the metaverse are sure to expand even further.","name":"What do people do in the metaverse?","@id":"https:\/\/www.the-future-of-commerce.com\/2022\/03\/02\/the-metaverse-definition-examples-retail-benefits\/#Answer4"},{"@context":"http:\/\/schema.org","@type":"Answer","text":"The metaverse has the potential to revolutionize the retail industry by providing new and innovative ways to engage with customers by offering a personalized, immersive, and interactive virtual storefront experience. Customers can interact with virtual sales associates and try on products in a way that is similar to the real world. In addition to virtual storefronts, the metaverse can also be used to create new and innovative retail experiences, such as virtual fashion shows or interactive product demonstrations. As the technology continues to develop, we can expect to see even more exciting innovations in the world of metaverse retail.","name":"How will the metaverse impact the retail industry?","@id":"https:\/\/www.the-future-of-commerce.com\/2022\/03\/02\/the-metaverse-definition-examples-retail-benefits\/#Answer5"},{"@context":"http:\/\/schema.org","@type":"Answer","name":"How do I get into the metaverse?","text":"Getting into the metaverse is a matter of finding a platform or virtual world that supports metaverse experiences and creating an account. There are a number of different ways to access the metaverse, depending on the specific platform you choose. One way to get into the metaverse is to use a virtual reality headset, such as the Oculus Quest or HTC Vive. If you don\u2019t have a VR headset, you can also access the metaverse through desktop or mobile apps, such as Second Life, Roblox, or VRChat. Once you\u2019ve chosen a platform, you\u2019ll need to create an account and customize your avatar. Many platforms offer tutorials and guides to help you get started, so you can start exploring the metaverse right away. Keep in mind that some metaverse experiences may require a subscription or other fees.","@id":"https:\/\/www.the-future-of-commerce.com\/2022\/03\/02\/the-metaverse-definition-examples-retail-benefits\/#Answer6"},{"@context":"http:\/\/schema.org","@type":"BlogPosting","image":{"@type":"ImageObject","width":"1200","url":"https:\/\/www.the-future-of-commerce.com\/wp-content\/uploads\/2022\/02\/VirtualY.svg","height":"375","@id":"https:\/\/www.the-future-of-commerce.com\/wp-content\/uploads\/2022\/02\/VirtualY.svg"},"about":["https:\/\/www.wikidata.org\/wiki\/Q2632041","https:\/\/www.the-future-of-commerce.com\/2022\/03\/02\/the-metaverse-definition-examples-retail-benefits\/#BlogPosting#2","https:\/\/en.wikipedia.org\/wiki\/Metaverse","Customer Experience","Customer Engagement","Omnichannel","Commerce","E-Commerce","Customer Journey",{"@type":"Thing","name":"Metaverse Technology","@id":"https:\/\/www.the-future-of-commerce.com\/2022\/03\/02\/the-metaverse-definition-examples-retail-benefits\/#Thing1"},{"@type":"Thing","name":"metaverse","@id":"https:\/\/www.the-future-of-commerce.com\/2022\/03\/02\/the-metaverse-definition-examples-retail-benefits\/#Thing"}],"url":"https:\/\/www.the-future-of-commerce.com\/2022\/03\/02\/the-metaverse-definition-examples-retail-benefits\/","mainEntityOfPage":"https:\/\/www.the-future-of-commerce.com\/2022\/03\/02\/the-metaverse-definition-examples-retail-benefits\/","description":"Learn about the emerging metaverse, what it means for retailers, the benefits, and how brands are jumping into this new virtual world.","name":"The metaverse: Definition, examples, retail benefits","headline":"The metaverse: Definition, examples, retail benefits","keywords":["Metaverse","Customer Engagement","Virtual Reality","Generation Z","Digital Twins","Digital Natives","https:\/\/www.the-future-of-commerce.com\/2022\/03\/02\/the-metaverse-definition-examples-retail-benefits\/#BlogPosting#3"],"datePublished":"2022-03-02","wordCount":1558,"dateModified":"2023-02-16","articleBody":"What is the metaverse? It depends whom you ask, but the term was first defined by novelist Neal Stephenson. In his 1992 novel, \u201cSnow Crash,\u201d Stephenson imagined a digital space where gamers use headsets to interact with other players in a virtual-reality landscape. Enter \u2013 for better or worse \u2013 our new reality, where the metaverse does indeed exist, no matter how badly some of us want to pretend it doesn\u2019t. What is the metaverse: Definition The metaverse melds physical, augmented, and virtual reality to create a computer-generated environment where users can interact, purchase items, game, and have experiences like they would in the real world. Users enter the metaverse via virtual reality. Upon entering, AR and VR allow visitors to see objects, people, landscapes, stores, and more environments projected around them, as well as engage in those environments. The metaverse doesn\u2019t refer to a particular kind of technology, but instead represents how humans interact with technology. Early examples of the metaverse The metaverse has the potential to forever change the customer experience and how consumers interact with brands. Mark Zuckerberg is placing such a heavy bet on the future of virtual reality that he renamed Facebook \u201cMeta,\u201d dubbed its employees \u201cmetamates,\u201d and invested $150 million in accelerating the metaverse. While Zuckerberg may daydream about a world in which humans adopt avatars and move through a series of virtual worlds to socialize, play, shop, learn, and work, other brands are more tactical in their approach. Gaming platforms are already deep into the metaverse (remember the Sims?), and the pandemic gave them a big boost. Isolated humans across the globe enjoyed the metaverse-esque experiences of Animal Crossing: New Horizons and Fortnite, which provided a glimpse into the future. Some people see the metaverse as a utopia in which a creator\u2019s economy centered around non-fungible tokens (NFTs) can grow and thrive, but more concrete benefits are emerging for consumer brands and retailers. Retail potential in the metaverse Shopping experiences are an ideal use case. The global pandemic highlights the ways in which retailers need to accelerate the VR experience to survive and thrive in an increasingly virtual world. To date, many retail metaverse use cases are experimental, but brands that get in on the action early will have an easier entry. E-marketer identified three retail categories with high potential in the metaverse: 1.\tFashion 2.\tBeauty 3.\tHome goods In their 2021 survey, 27% of responders said they would be interested in trying clothing via AR\/VR before making a purchase, and they\u2019d also give furniture (23%) and home appliances (22%) a spin in the metaverse before buying the real-world version. While these numbers represent a fraction of global consumers, the digital-first buyers in Gen Z and Generation Alpha are primed to exist in a metaverse future. This post-analog generation is pre-conditioned to engage with the metaverse and are already highly literate in the world of avatars and digital identities. These digital twins give users the opportunity to carefully curate their online personas, including how they dress, called \u201cskins\u201d in the gaming world. More than 80 percent of U.S. gamers between the ages of 13 and 45 are aware of skins, and the estimated market for them is a whopping $40 billon annually. Holy untapped potential, Batman. Looking ahead, we can even see the metaverse as a path to a more sustainable future. Climate change, global pandemics and geo-political upheaval are creating a society that is largely sheltering in place. Retailers who embrace the concept of digital goods will emerge as winners with  Gen Z and Gen Alpha, who favor sustainable brands. Metaverse pioneers: Retailers embracing the next generation of commerce The list of retail brands jumping into the virtual pool of the metaverse is expanding day by day. Here are a few: Nike: In late 2021, Nike acquired RTFKT, an NFT studio that creates digital collectibles. RTFKT was already producing digital sneakers, making the acquisition a no-brainer for perhaps the world\u2019s most recognizable athletic-shoe brand. Nike recently filed several new trademark applications that signal a fast-approaching launch of digital gear for the metaverse. Coca-Cola: The beverage brand designed its first NFT in collaboration with Tafi. The metaverse collectibles were designed in celebration of International Friendship Day and consisted of a loot box on OpenSea. The NFT was auctioned off and contained virtual apparel for use in Decentraland.  Designed to look like a futuristic version of the classic Coke vending machine, the NFT included a variety of branded merchandise like the Bubble Jacket Wearable. Selfridges: The venerable, high-end British department store Selfridges teamed up with Charli Cohen, maker of NEXTWEAR, which designs and manufactures \u201climited quantities of physical fashion\u201d in the UK and Shanghai. The brand also creates digital versions of their goods for use in gaming and the metaverse. Together with Selfridges and Yahoo RYOT Lab, they created a virtual city to celebrate 25 years of Pokemon. Visitors can shop for both digital and physical goods, including four digital garments to wear in a Snapchat lens. Zara: The global fast-fashion brand Zara announced a partnership with clothing label Ader Error to join the South Korean metaverse known as Zepeto. The collaboration will result in the AZ Collection, which will be available in both the physical world and the metaverse. Other brands are looking to the metaverse to show off their products. AR and VR offer a new channel for how-to content meant to influence and cajole customers into buying. For example, Dyson, a maker of pricey hair tools and high-end household cleaning gadgets, created a showroom available as an app via Meta\u2019s Oculus store. Big winners in a metaverse future Industry experts see the potential of the metaverse to not only create rich, intense, and seamless customer experiences that can span the physical and digital worlds, but also to collect valuable new data points for understanding the customer in a cookie-less world. PWC posits that the implications of the metaverse are far-reaching, but stops short of calling this virtual world a revolution. Instead, consider it an evolution. The idealized version put forth by big tech may never come to fruition, but that doesn\u2019t by any means preclude a future (and present) that uses the current metaverse technologies and platforms for practical applications in an increasingly digital world. So, grab your headset, pull out your digital wallet, and get ready. Frequently asked questions (FAQs): What is the metaverse in simple terms and how does it work? The metaverse is a term used to describe a fully immersive virtual universe where people can interact with each other and digital objects in a three-dimensional space. In the metaverse, people can explore and create new experiences, interact with digital objects and environments, and communicate with others in real-time. The metaverse works by using a variety of technologies, including haptic feedback, motion tracking, and advanced graphics and computing capabilities, to create a fully immersive experience that feels like a real-world environment. How do I get into the metaverse? Getting into the metaverse is a matter of finding a platform or virtual world that supports metaverse experiences and creating an account. There are a number of different ways to access the metaverse, depending on the specific platform you choose. One way to get into the metaverse is to use a virtual reality headset, such as the Oculus Quest or HTC Vive. If you don\u2019t have a VR headset, you can also access the metaverse through desktop or mobile apps, such as Second Life, Roblox, or VRChat. Once you\u2019ve chosen a platform, you\u2019ll need to create an account and customize your avatar. Many platforms offer tutorials and guides to help you get started, so you can start exploring the metaverse right away. Keep in mind that some metaverse experiences may require a subscription or other fees. What do people do in the metaverse? In the metaverse, people can do a wide range of activities, including socializing, gaming, shopping, attending events, and learning. Some people use the metaverse as a place to socialize and connect with others, just as they would in the real world. Others use the metaverse as a gaming platform, playing online games or creating their own games and challenges. In addition to socializing and gaming, the metaverse is also being used for a variety of practical purposes. For example, some retailers are using the metaverse as a way to create virtual storefronts and allow customers to browse and purchase products. Educational institutions are also exploring the use of the metaverse as a way to provide immersive and interactive learning experiences. Overall, the possibilities are virtually limitless, and as the technology continues to develop, the possibilities for what people can do in the metaverse are sure to expand even further. How will the metaverse impact the retail industry? The metaverse has the potential to revolutionize the retail industry by providing new and innovative ways to engage with customers by offering a personalized, immersive, and interactive virtual storefront experience. Customers can interact with virtual sales associates and try on products in a way that is similar to the real world. In addition to virtual storefronts, the metaverse can also be used to create new and innovative retail experiences, such as virtual fashion shows or interactive product demonstrations. As the technology continues to develop, we can expect to see even more exciting innovations in the world of metaverse retail.","subjectOf":{"@type":"FAQPage","url":"https:\/\/www.the-future-of-commerce.com\/2022\/03\/02\/the-metaverse-definition-examples-retail-benefits\/","mainEntityOfPage":"https:\/\/www.the-future-of-commerce.com\/2022\/03\/02\/the-metaverse-definition-examples-retail-benefits\/","name":"what is the metaverse","about":["https:\/\/www.wikidata.org\/wiki\/Q2632041",{"@id":"https:\/\/www.the-future-of-commerce.com\/2022\/03\/02\/the-metaverse-definition-examples-retail-benefits\/#Thing1"},"https:\/\/en.wikipedia.org\/wiki\/Metaverse",{"@id":"https:\/\/www.the-future-of-commerce.com\/2022\/03\/02\/the-metaverse-definition-examples-retail-benefits\/#Thing"},"https:\/\/www.the-future-of-commerce.com\/2022\/03\/02\/the-metaverse-definition-examples-retail-benefits\/#About"],"mainEntity":[{"@type":"Question","name":"What is the metaverse?","acceptedAnswer":{"@id":"https:\/\/www.the-future-of-commerce.com\/2022\/03\/02\/the-metaverse-definition-examples-retail-benefits\/#Answer1"},"@id":"https:\/\/www.the-future-of-commerce.com\/2022\/03\/02\/the-metaverse-definition-examples-retail-benefits\/#Question1"},{"@type":"Question","name":"What is the metaverse in simple terms and how does it work?","acceptedAnswer":{"@id":"https:\/\/www.the-future-of-commerce.com\/2022\/03\/02\/the-metaverse-definition-examples-retail-benefits\/#Answer2"},"@id":"https:\/\/www.the-future-of-commerce.com\/2022\/03\/02\/the-metaverse-definition-examples-retail-benefits\/#Question2"},{"@type":"Question","name":"What do people do in the metaverse?","acceptedAnswer":{"@id":"https:\/\/www.the-future-of-commerce.com\/2022\/03\/02\/the-metaverse-definition-examples-retail-benefits\/#Answer4"},"@id":"https:\/\/www.the-future-of-commerce.com\/2022\/03\/02\/the-metaverse-definition-examples-retail-benefits\/#Question4"},{"@type":"Question","name":"How will the metaverse impact the retail industry?","acceptedAnswer":{"@id":"https:\/\/www.the-future-of-commerce.com\/2022\/03\/02\/the-metaverse-definition-examples-retail-benefits\/#Answer5"},"@id":"https:\/\/www.the-future-of-commerce.com\/2022\/03\/02\/the-metaverse-definition-examples-retail-benefits\/#Question5"},{"@type":"Question","name":"How do I get into the metaverse?","acceptedAnswer":{"@id":"https:\/\/www.the-future-of-commerce.com\/2022\/03\/02\/the-metaverse-definition-examples-retail-benefits\/#Answer6"},"@id":"https:\/\/www.the-future-of-commerce.com\/2022\/03\/02\/the-metaverse-definition-examples-retail-benefits\/#Question6"}],"abstract":"What is the metaverse? 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