Even as brands have made a dash to cash in on what seems to be a frenzy called, ‘the metaverse’, sustainability still remains questionable. “The global e-commerce industry is predicted to grow by 16.8%, to $4.921 trillion, in 2022. As the metaverse becomes embedded in our daily routines, there will be an increase in Direct-to-Avatar (D2A) purchases, and, for all consumer-catering industries, purpose-oriented integrations with the digital world will have to be emphasised,” Anshul Agarwal, co-founder, and director, XR Central, metaverse technology company told FE Digital Currency. 95% of business leaders expect a positive impact of metaverse on their industry within five to ten years, as reported by Mckinsey and Company.

According to industry experts brands appears to constantly reinvent engagement strategies to sustain in the metaverse. ” The metaverse can optimise engagement through experiences, monetisation, localisation, and customisation. It is important to create a strong return-on-investment (ROI), particularly when it comes to large investment opportunities,” Manasa Rajan, CEO, Jupiter Meta, an integrated Web3.0 entity, said.

Source: https://www.financialexpress.com/digital-currency/why-brands-have-kept-their-nose-to-the-grindstone-to-sustain-in-metaverse/2650096/

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