The metaverse is here!
It reads like just an eye-catching headline, but 3D and AR experiences really are beginning to change how we meet, play, socialize, consume fashion and purchase products, and more. While still early, the metaverse and the audience are already here, and the brands who are leading the way in tapping into it are reaping big rewards. Everyone from Gucci to YSL are getting in on the game and capitalizing by creating digital fashion that can be shared and purchased digitally. 3D and social commerce experiences have been proven to double conversion rate. AR, 3D, and VR platforms are still new, making now the time to begin conceptualizing how you can take your business to the next level by bringing it into the metaverse with digital assets of your designs and apparel that others can share and buy also!
3D and B2B Selling
Covid-19 took the digital revolution that had started before the pandemic and bust it wide open. This was especially true for b2b sales and transactions. 3D provides buyers with a better understanding of the product/garment. With browser-based collaboration and interaction, assortment planning and line reviews are a breeze and can be shared with retailers quickly and easily. What normally could take weeks to send physical products and samples to the buyer, back to the designer and then to the next buyer can now be done in minutes when done with digital showrooms. Not only is this cutting down on time but it is also cutting down on costs as well. When normally shipping out samples you pay 3x the regular unit cost plus shipping. Having digital assets of those products that can be shown digitally reduces that cost tremendously. It also helps to reduce the carbon footprint, and increase speed to market as well.
3D and AR are also helping to streamline the process of showing the digital assets to all of the internal and external stakeholders as well. Not everyone uses the same software to view digital assets, which means not everyone has access to being able to view the 3D asset without converting the file. This has led to a headache with screenshots and long email threads. We are proud to say we have provided a solution to this by not only creating your 3D assets in any file format needed but also providing a 3D web viewer and collaboration platform where all everyone has to do is share a link to the showroom and edits, comments and more can be dropped right into the design so everyone can interact simultaneously. This is also a great benefit for the manufacturing side and helps cut costs there as well. They can test a higher variety of products using digital samples and reduce the number of physical samples being tested, which helps to reduce waste also.
3D and B2C eCommerce
3D is driving large ROI with eCommerce including 61% increase in cart size and 2x lift in conversion. This is because customers have a better understanding of the product and therefore feel more confident making a purchase. Web AR is also doing amazing things by decreasing returns by 40%. The number one reason returns are made is due to a product being either too large or smaller than they expected. With web AR customers can see the item they are purchasing true to size rather than hoping that it comes in the right size. This is great for those brands who sell furniture, bikes, outdoor products such as tents, and any other products where a customer needs to understand the sizing of an item.
NFT’s, Fashion and New Streams of Income
Selling digital goods online as NFT’s is getting bigger and many high-end fashion brands are taking advantage of this new way to bring their brand into the metaverse. You do not have to be a high-end brand or large company like Adidas or Nike to capitalize on this. The Fabricant, a digital fashion house, is partnering with brands through the creation of NFT’s and digital fashion and they are making big money doing so! RTFKT, a creation house for virtual sneakers and collectibles, teamed up with FEWOCiOUS to create a virtual sneaker that was sold for $3.1 million dollars in 7 minutes. The first few who bought the digital sneaker also received a physical copy of the shoe as well. These types of NFT’s can open up many possibilities for designers and even thrift stores. High-end NFT items can be verified by the blockchain, unlike physical products. NFT’s can also hold commissions helping artists and designers to get paid every time a virtual product is sold and resold.
NFT’s do not always need to be backed up by a physical product. Taco Bell recently proved just that by releasing 25 tokens on Rarible that were sold out in minutes with the highest one being sold for over $1,200. These tokens did come with a $500 gift card and are currently reselling for over $3,500, without the gift card included. NFT’s are game-changers in the fact that they are digital assets that can be owned since they can be verified by a blockchain. Previously these items such as digital clothing for an avatar were owned by the platform or game such as Fortnite or Roblox and could not be transferred from game to game. With NFT’s the purchaser owns the item which can then be taken anywhere they like into the metaverse or used on their avatar.
3D Benefits The Entire Product Lifecycle
3D and AR are creating long-lasting benefits not just for designers and business owners but for the entire lifecycle of a product or design. On the manufacturing end, it is helping to increase speed to market by getting rid of time delays and allowing products to be shared and tested digitally. This also helps with reducing the carbon footprint for those manufacturing companies, especially for those in Europe who have much stricter laws when it comes to waste and carbon footprint, and finally, it helps to reduce costs by reducing the need for physical samples. Sales and marketing teams are also seeing big boosts in business when using AR and 3D experiences and assets. Try-on experiences and other AR experiences are increasing sales by creating shareable experiences allowing brands to expand their reach and increase their customer base. The creation of limited edition purely digital products are also creating brand new digital streams of revenue for companies.
At VNTANA we can help you create digital showrooms, try-on experiences, and more for your company that can also be used in digital showrooms to show buyers. Our platform comes with a 3D web viewer to make your process easier. We also provide your digital assets in every file format necessary so you can share them across the web from social media to ads and more. Contact one of our 3D experts today to get started.