The metaverse is among the most exciting ecommerce innovations, and shoppers are riding the trend: This year, 49% of shoppers said they would purchase non-fungible tokens (NFTs), a digital asset that represents something unique or scarce stored on a blockchain. Whether that looks like a virtual version of a real-world item or a digital collectible, 47% of shoppers said that the appeal of gifting an NFT is that they want to give a gift that might increase in value. Even more interesting is that 42% said they would be more likely to buy a physical product if it came with a digital twin.
NFTs aren’t the only way to play in the metaverse, however. Look no further than online gaming, where players buy digital skins to give their avatars a unique look. The market for virtual clothing, accessories, and cosmetic add-ons is impressive: In fact, digital skins account for an estimated $40 billion per year. Even fashion brands are getting in on the action, with one high-end retailer leading the way with a winter-themed digital world where visitors could try on, buy, and wear apparel — only online, of course.