Web 3.0, the third generation of the internet, uses machine-based understanding of data to provide a data-driven environment for retailers. HDH plans to introduce a new retail division that will focus on how to best operate in this environment.
With the help of the company’s consultants, retailers can get advice on which platform to use and how to best design and operate their virtual stores.
Many virtual worlds are already in operation, including Decentraland, a virtual destination for digital assets and The Sandbox, a virtual metaverse game in which players can build and own their own virtual experiences.
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There is no doubt that HDH can help brands make smart metaverse investments, according to CEO James Ebel: “The pandemic has encouraged retailers to embrace change and look for new methods of growing sales and brand awareness… Many retailers are now considering a presence in the metaverse, and there are even a few “early adopters.”
Additionally, he said, “HDH plans to help retailers understand what resonates and attracts users in the metaverse so that they can ensure consumers engage with their brand in the virtual world.
In the same way that websites and social media were once completely new channels for retailers, so too is the metaverse, and there is clearly an appetite for retailers to find ways to monetise the metaverse and ensure long-term business growth in an increasingly online world.”
Even though the metaverse is still in its early stages of adoption, many high-profile brands have adopted and announced plans to expand into it. Meta is the new name for Facebook, which underwent a rebranding last year. Ralph Lauren and H&M have already announced plans to sell products on Web 3.0.