While the government of South Korea has passed some tight regulations for the crypto economy, a large number of companies are now looking at embracing the ‘metaverse’ concept in the near future. In fact, many people in South Korea are also looking at integrating ‘metaverse’ in various ways.
Recently, two major retailers have introduced metaverse and artificial intelligence elements. This is to offer shoppers an enhanced shopping experience.
Besides this, GS Shop introduced home shopping via the metaverse on Tuesda. In fact, they showed the inner workings of a food production facility. Moreover, the shop aims to reassure customers of the quality of the facility.
What GS Shop did here was to turn the scans of physical reality into 3-dimensional representations. Through this, customers having augmented reality devices such as Meta’s haptic gloves can tour the facility in the virtual world.
Many influential individuals in the country have noticed this explosion of companies joining the metaverse. Jason Ye, co-founder of DeSpread told Cointelegraph:
“It seems like every company is diving into the metaverse and play-to-earn these days.”
He also added:
“Korea has lots of huge IPs. If you can combine those IPs with great content around them, you can build a great business model. Attractive contents are the basis for entering the metaverse.”
In fact, retail shopping, finance, and even public services are finding avenues to incorporate Metaverse and AI avatars. Giving an example of this, Lotte Home Shopping, a company that had topped $14 billion in sales last year, has introduced a virtual model named Lucy to promote the brand’s products.