Metaverse and WEB3 Within the Luxury Industry: Homeety Case

By November 19, 2022The Sandbox
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Metaverse and WEB3 Within the Luxury Industry: Homeety Case

As we all struggle to understand the Metaverse, the new idea of Web3, and virtual reality, luxury brands are beginning to understand how they, too, can explore this universe and advance their operations and customer interactions; and here’s how Homeety is leading the market.

Luxury brands, whose business models are naturally built around the sale of tangible goods, are now able to experiment with the idea of selling intangible goods thanks to the new Web3 era. The idea of carrying about a fashion accessory is to show it off. After all, isn’t that the whole point of getting one? Yes! but buying luxury goods as an investment is what it really means to do. You purchase into the brand’s universe, not just its products, and companies are starting to take advantage of this by experimenting with virtual concepts.

Gucci, the Italian fashion brand, was among the first to provide its customers with experiences in the internet sphere and is among the most skilled in the creation of its digital projects and content.

“Homeety’s main goal is to democratize Web3 and its functionalities to a Web2 audience intrigued and curious about new blockchain and web3 technologie” highlighted M Laurent Lahmi, founder of Homeety; “We seek to simplify this transition via fun and pleasant tools (tutorials in the form of 3D HD avatar, wallet friendly, purchase of NFTs and tickets simplified via our platform, etc. …) all grouped in a desktop dashboard and a mobile application”

François-Henri Pinault, president, and chief executive officer of Kering, announced in February of this year that the business had assembled a team solely for the purpose of working on web 3.0 initiatives. The company has also guaranteed that they will keep working on its Metaverse projects, and it is also letting users buy virtual property on the gaming site The Sandbox and has a number of collaborations with NFT owners and producers.

Thus it is no doubt that the fashion and luxury industry is beginning to explore the use of Web3. For instance, Hugo Boss announced a TikTok challenge where contestants could win NFTs and five unique Boss x Russell Athletic NFT jacks with a physical copy. Over 7.5B views and 3.1M #Bossmoves videos were produced by the campaign. Customers who participated in Estee Lauder’s loyalty program were able to join the “Clinique” collection’s sweepstakes for a chance to win free products for ten years and one of three versions of NFT art by posting “tales of optimism” on social media.

“We have already started to design our Metaverse – teasers available on twitter -. And we hope to eventually, once our users are trained, offer them a total immersion in the Homeety Metaverse. A meeting place above all but full of BtoC and BtoB functionalities”. As stated by Sarah Willersdorf, Partner and Managing Director, of Boston Consulting Group (BCG), and Global Head of Luxury, In Luxury 3.0, the companies that succeed are those who invite their consumers to contribute and play active roles within their community. Online communities such as the Metaverse are not just adjacent to the luxury experience they are in fact powerful multipliers.

Homeety

We have already established numerous collaborations on our Discord server with some of the most recognized NFT collections in the market.

The market for the worldwide Metaverse is expected to reach $678.7 billion by 2030, valued at $47.48 billion in 2022, according to Statista. And also a USD 50 billion market for luxury products is predicted to emerge in the Metaverse by 2030. Several major businesses are joining the luxury market as everyone debates over the potential changes the Metaverse can bring to the online experience. Consumers are being presented with a wide range of innovative projects as this new blockchain-based version of the internet emerges.

The Metaverse is about bridging the digital and physical worlds, despite the misconception that it is a futuristic fantasy. It brings individuals together to connect and create in a common, virtual space.

“Homeety is a user centric app offering exclusives only available through homeety’s application, bringing NFTs to life with real use cases at the junction of real and virtual. These exclusives consist of private IRL or virtual events (for example, a fashion show, a vernissage or a private exhibition) created by our Homeety’s partners for our Homeety’s users,” said Mr. Marc Seroussi, founder.

By embracing the Metaverse, luxury firms can increase sales, gain a competitive edge, and enhance consumer satisfaction. Thus Luxury businesses have a chance to reach new market segments and show off their creativity and skill in a variety of ways thanks to the Metaverse. Thus there is no doubt that the Metaverse and WEB3 within the luxury industry are bound to be a billion-dollar market in the future with amazing opportunities for brands as well as consumers.

Let’s make web3 easy for everyone!

In 2023, Homeety is committed to becoming the essential tool of Web3 and the Metaverse, by offering a range of goods and services, bringing together the most used Web2 applications combined with Web3 use cases. All this, mixing an aspect of exclusivity only present on the platform.

An opportunity not to be missed in which you can become an actor and an investor!

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