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Shopping in Web 3.0

Shopping in Web 3.0
What Does Retail Look Like in Web 3.0? How Retailers Are Approaching NFTs, Virtual Reality and AI

As we head into 2023, some retailers are wondering: Is the metaverse/Web 3.0 hype dying down? When Mark Zuckerberg announced Facebook’s name change to “Meta” and shared his vision for a “metaverse,” the buzz and excitement around virtual societies and decentralized technology dominated industry conversations.

Now, as most consumers still have yet to explore the space, the initial hype is waning. According to recent Publicis Sapient research, about half of U.S. consumers ages 18-34 have accessed the metaverse, but nearly half of the younger demographic is still unfamiliar with the concept. However, that doesn’t mean that investment or business opportunities are dying with it. In fact, now is the time that the biggest players in the metaverse and Web 3.0 space are testing virtual experiences, improving baseline technology and building talent to dominate the future internet.