“PwC Says one of the most surprising results in their survey is that nearly a fifth of VR users reported buying luxury goods…”
There are a lot of questions around “what is the metaverse?” and is this some unrealistic future. We continue to believe that the metaverse is really around creating a computing platform that is allowing new forms of behaviors to emerge. For example, the study shows that nearly a fifth of all those surveyed used augmented reality or virtual reality to purchase a luxury good.
Shopping and fashion are enormous potential use cases. We have seen live demos from Reactive Reality and its PictoFit platform, allowing users to create their digital selves and try on clothes digitally before buying. Trying before buying is nothing new, as StitchFix and Amazon have the try before you buy business models. Reactive Reality also partnered with Hugo Boss to create matching avatars to try thousands of Hugo Boss garments. We will try and get them on our podcast Inside Scoop very soon as we want to learn more!
The #1 use case continues to be gaming. Does this sound familiar? This was also the prominent use case for mobile and traditional computers. The report also highlighted that 35% of those who have used the technology are expected to increase their spending on the platform over the next 6 months in at least six categories.
Today we are seeing the tip of the iceberg for “metaverse” use cases. Over time we think as computing power increases, device sizes shrink, and price points come down, it will accelerate further the “S-CURVE” we have seen in other monumental technological evolutions.
Do you believe in the metaverse concept? Just think about this, Apple, Microsoft, Meta, Google, Nvidia, and Amazon have specific departments focused on this area.
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