With its decentralised Mall (the very first in the Metaverse), MetaMall has got things moving in the right direction. The MetaMall website explains the Mall as a one of a kind VR experience on the blockchain that will allow the users to build, explore and trade exactly like a real world mall! Users will be able to purchase, develop, and even sell virtual properties in the Metaverse through this virtual real estate seller.
MetaMall patrons use the mall token as a utility. MetaMall patrons can use the token for a comprehensive shopping experience. The metaverse startup has raised $7 million in seed funding from both private and public investors through IDO. An IDO or Index Dex Offering is the successor to an ICO or Initial Coin Offering. Crypto currency traders and fundraisers prefer this method for fundraising and trading.
Talking to the Indian Express, MetaMall’s Co-founder Serge Gianchandani explained that, “It’s between the physical mall and traditional e-commerce.”
This means that instead of picking up items from a traditional online shop, you will now be able to interact with them.
It is planned to have about 20 brands in the beginning, and then gradually expand to 250+ within six months. MetaMall’s MVP (minimum viable product) will become available in April 2022.
DMart in Metaverse would be a virtual store. There will be no rush on weekends, as many empty carts, no security line and faster checkouts! That would be something!
