Welcome to Metacommerce

by Rykkei Erlich, September 15, 2022

If you’re here, you probably know, at this point, what it is that we do.

If not, here’s the 7-second pitch: We developed gComm, the first-of-it-kind in-game commerce platform that lets you buy real products directly inside games and Metaspaces.

In the past year, the Metaverse has made countless headlines, and as some of the biggest brands entered the Metaverse space, the field has seen an amazingly rapid growth rate.
How big is the Metaverse market? It’s currently valued at around $60 billion, and is expected to reach $700 billion by 2028.
But educating the public takes time, and the time to start is NOW!

At this point in time, the Metaverse is in a constant state of change, shaping itself as it grows, which is why so many people still don’t know what it actually IS, or what it’s going to be. 

As architects of Metacommerce, we ourselves understand that the process of change and growth is a necessary one, and we know that once it stabilizes and takes root, it will be an inseparable part of our lives. The Metaverse will be a tool for both work and play – business and pleasure and everything in between, which will, by necessity, include a vibrant, global market.
What we need to be doing NOW is start educating the masses about just how to be Metaverse consumers. 

As it currently stands, more and more companies and brands enter the Metaverse each day, building Meta Spaces whose main goal is to give their customers a new shopping experience, walking through virtual stores any time of day or night, seeing new collections before they hit the physical shops, interacting with the products in the virtual world, and even purchasing NFTs and digital versions of those products for their avatars. Whether it’s Gucci Town in Roblox, Balenciaga in Fortnite, or the Metaverse Fashion Week that was hosted by Decentraland earlier this year, these are impressive virtual game spaces whose construction costs millions – from infrastructure to design to UX and everything in between – all meant to impress, entertain, and keep consumers there as long as possible. For those used to buying at the mall or on a website, this is a brand new way to enjoy shopping. It’s a new reality, elevated into something completely different. An experience. 

Another bonus is that the same brands who spend millions on creating these beautiful spaces also bring their consumers into the Metaverse with them. Followers, customers, whole communities will happily follow their favorite brands into the Metaverse. That means new inhabitants each day, which also helps to accelerate the Metaverse’s growth rate.

So, what’s the problem? And why does this current trend make all of us at Sayollo cringe?

As a broad market that’s open to everyone, today’s Metaverse is still being used to create just ONE thing: Awareness.

It’s true, brands make no money from their Metaverse spaces because they’re not actually SELLING anything yet. It’s as if no one has thought of conversion or profit or ROI on all those millions spent. Sure, you can buy the Vans backpack for your avatar, or a Cryptopunk NFT at Sotheby’s virtual auction house, but that’s as far as it goes – digital items sold for digital currency inside virtual spaces. Nothing crosses into your physical life, and that’s our main beef.
In a world where the line between physical and digital becomes increasingly blurred, we’re left wondering why real-life commerce is being so completely ignored by each and every brand inside the Metaverse
We at Sayollo, keep asking the same burning question every time we enter a new brand’s Metaspace WHY?? Why can’t we buy anything here? Hyundai, Coca Cola, Samsung are all showing off their new products, but we can only buy them for our avatars?? Why can’t we also order the very same physical items for ourselves? How is this STILL not an option??

Yup, if you want to buy any of those things, you’ll have to click out of the Metaverse and open the companies’ websites. Or physically go to the shops. Makes ZERO sense to us.

So what happens after you walk around, see the new line of products, interact with other players, play the game, or enjoy the free concert?
You leave. And drop rates are high. Which makes brands rethink their strategies and backtrack away from the Metaverse. One step forward, two steps back.

But it doesn’t have to be this way! Sayollo’s gComm, our embedded commerce platform, is a tool that’s easily incorporated into any Metaverse space, and allows for the purchase of REAL ITEMS that are shipped directly to your physical address. As gaming commerce experts working with both games and Metaspaces, our offering enables the user to experience the Metaspace environment, see contextually-suitable ads, and drive purchases through gamification, engagement, and FOMO. And our fast-checkout options allow for the purchase process to occur in seconds, so your users can get back to the fun immediately.

At some point in the not-too-distant future, the Metaverse will become a part of our everyday lives, and as we see it, NOW is the time to become full citizens and invest more time (and money) there. That means incorporating both virtual and physical items for sale. It means having relevant ads pop up at just the right moment to drive sales. It means ordering the double cheeseburger combo while strolling through the Wendyverse and having it arrive in 30 minutes or less. It means buying those crazy new Yeezy boots (you know the ones) inside Fortnite and receiving them within days. Ultimately, it means businesses can make a profit by turning mere awareness into full conversion within seconds, without ever leaving the platform, the game, or wherever your audience is hanging out at 4 a.m. The more choices you offer consumers, the more will be attracted to your brand – and vice versa, the more consumers flock to the Metaverse, the more brands will join and offer new ways for them to engage. All of that can be done with our gComm platform.

And with unlimited gamification options, combining virtual items (like coins and skins) with physical products is easy as pie.

Start the journey toward REAL Metacommerce today.

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