Mexico remains second to none regarding crypto-friendly regimes testing, interacting and building innovative development within the metaverse and web 3 boundaries. Indeed, the North-American based country has turned into a crypto-centric regime with the national adoption of digital assets due to rising inflation issues in the state.
Mexico introduces its first shopping mall type in the Metaverse space in this slew. Named Island Shopping Mall, the platform was inaugurated yesterday and currently features around 80 brands. It includes big names like Pai Pai, Momiji, Victoria’s Secret and others looking forward to scaling up their reach globally.
Notably, the metaverse platform plans to list over 800 brands in total and will continue to codify the presence of other brands with time.
That is what distinguishes the metaverse shopping platform for having the ability to programme as many brands as developers can imagine in mind. In addition, virtual shopping includes categorising the different products as per their quality with a specific area for emerging brands. The onboarded brands will roll out either in a communal or private area.
As per the announcement, the new type of shopping outlet has gone live now, and users can interact with it by downloading the mall application to enjoy “an island paradise to have a good time online.” Moreover, the online purchases made through the shopping mall will earn users germs that could be used to get coupon codes and discounts on the shopping points within the Island-space.
Island shopping mall attracts attention of big brands
At present, 80 brands have been officially confirmed. They will be divided into categories with a special hall for “emerging brands”.
Major brands confirmed for mall launch are Bath & Body Works, LA Colors, GOC, Biso, Golden, LA Girl, Momiji, Pai Pie and Victoria’s Secret. Some will have personal or shared spaces.
Developers of Island Shopping Mall said they partnered with “The Savings Group Limited”, a leading British company specializing in discount coupons, to integrate over 879 brands such as Adidas, Nike, Puma, Bershka, Guess, Apple, Levi’s is of. other.
Some of these brands have already dipped their toes in the metaverse. Nike has developed a productive business strategy focused on NFTs and the Metaverse, Guess has launched a Metaverse store, and Apple is developing its own hardware to create the optimal Metaverse experience—though its VP doesn’t quite like the term.
Mexico and the Metaverse: A Bet on Digital Innovation
Mexicans are betting heavily on the metaverse. just last month,”Metaverse Mexico BootcampDuring the event, a group of experts provided training on various business models in the metaverse, promoting the adoption of cryptocurrencies. In addition, they offered lectures and exhibitions with augmented and virtual reality technology.
According to the latest report from Hellosafe, the Metaverse market in Mexico is the largest in Latin America, with over 13,000 investors who have poured their money into Metaverse companies.
Although most cryptocurrencies associated with crypto gaming projects, such as AXS from Axi Infinity or Sand from Sandbox, have seen a significant drop in market capitalization, Hellosafe forecasts a 670% growth in the metaverse market for the next 8 years.
This increase would be an increase of over $4,355 billion, given that according to this year’s report, the global market cap of Metaverse should be closer to $650 billion.
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