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how retail, real-estate and hospitality will benefit

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According to industry experts, retail, real estate and hospitality are part of the industry that encounters great opportunities to expand in the Metaverse.

“At the heart of what the Metaverse represents — it makes the Internet more conversational.” Kunal Lunawat Co-founder and managing partner of Aga VenturesA fund focused on real estate technology told Yahoo Finance.

Lunawat envisions that the next version of the Internet, the Metaverse, will give retail brands the opportunity to create a conversational bridge between the virtual and real worlds.

For example, you might buy a virtual handbag for your avatar, but “Proving ownership of that handbag will give you special discounts and perks at that brand store in the real world,” Lunawat said. I am saying.

Going one step further, customers will be able to inform companies about the types of features they will include in future products.

“This holistic concept of co-creation and co-creation and giving customers more ownership of the brand itself is a very powerful composition. I think the Metaverse will finally give reality,” says Luna Watt. I did.

Those who purchase NFTs (non-fungible tokens) associated with upcoming real estate properties and other virtual assets will gain access, discounts and privileges in the real world, for example, when the actual launch takes place. I can.

“This is a really novel way of thinking about marketing these assets and creating a sense of exclusivity that drives real-world sales,” he said.

Hospitality companies that host virtual events can benefit from brand awareness and the “imprint” that is registered in the minds of the participants.

According to Luna Watt, change is happening rapidly. Microsoft (MSFT), Nvidia (NVDA), And meta (FB) Have everything Made their big plan For a new version of the internet.

Last week, Meta publication We are testing how creators sell virtual items and experiences on a platform called Horizontal Worlds.

City Recently predicted By 2030, the Metaverse economy is worth $ 8-13 trillion and has the potential for total users of approximately 5 billion.

“It’s a lot of money that needs to be poured into the system, and a lot of growth that needs to happen for us to reach that landmark,” Luna Watt said. He is confident that the total addressable market will reach at least $ 8 billion.

“I’m pretty bullish to actually meet it, and maybe even more than that,” he said.

Ines is a market reporter covering Yahoo Finance stocks. Follow her on her Twitter @ines_ferre

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