When you purchase through links on our site, we may earn an affiliate commission. Here’s how it works.

Despite the naysayers, the metaverse is going to disrupt retail, says research group

The metaverse

Info-Tech Research Group (ITRG) has said that the metaverse is going to shake up the retail world. The company said that avatar-driven customer services, augmented reality, and 3D interaction will disrupt the sector, but suggested progress could be a bit sluggish at first because retailers are unsure where to start.

The researchers found that if metaverses use blockchain technologies too, then there will be other benefits for retail. With blockchain smart contracts, for example, parties to a transaction will be made to fulfil their obligations without the need of a middleman. Other benefits include data portability and reduced risks associated with storing customer information, seamless direct money transfers and payments, and quicker decentralized trade settlements.

A Metaverse Commerce graphic from ITRG

For businesses that want to leverage these technologies, ITRG recommends that businesses look throughout the services that offer and identify where the technology could be useful. It also recommends getting customers’ opinions about how the tech could be integrated. Finally, ITRG tells businesses to look into things like blockchain, digital twins, infrastructure, and virtual environments to get started.

The biggest player in the metaverse right now is probably Meta, it has its popular Oculus headsets, has renamed itself, and has been spending a lot of money to try to build the technology required for a comprehensive metaverse. Last month, however, shareholder Brad Gerstner called on Meta to limit spending on the metaverse and become more focused. It’ll be interesting to see whether any metaverses really take off, or whether they remain a niche.

Report a problem with article
Windows 11 Insider Preview written with an image of a dummy laptop running Windows 11
Next Article

Expanded View for Widgets and Energy Recommendations arrive in Windows 11 Beta

DirectStorage and DX12 Ultimate logo on a dark background
Previous Article

Microsoft DirectStorage 1.1 now out, promises up to 3x faster loads with GPU decompression

Join the conversation!

Login or Sign Up to read and post a comment.

24 Comments - Add comment