We have seen the emergence of the virtual economy. It all began with the boom of cryptocurrencies such as bitcoin, but the potential has blossomed with increased enthusiasm for the Metaverse. These changes launched the start of fantasy economics- the very real-life value of virtual goods. The precursor began in 2009 with the introduction of Bitcoin, the world's largest cryptocurrency by market capitalization. Shortly after, we began to see the power of NFTs and virtual real estate, clothing, memberships, etc. This all has boomed into a virtual economy that lives in the Metaverse, with its own virtual goods and virtual currency. All of these developments lead to the potential of great opportunities – to build companies, build careers, and build up your wallet. So where does this take us?
This opens up the conversation of a brand-new business model. Direct-to-avatar. Stemming from direct-to-consumer, direct-to-avatar is an evolving business model focusing on selling products directly to users’ virtual identities a.k.a avatars.
The first clear move was the fashion industry selling everything from clothing, shoes, and accessories to avatars from across the globe directly in the Metaverse. Brands such as Gucci, Balenciaga, and Nike have already entered the market through Fortnight and Decentraland. The next wave came in through the automotive industry with luxury cars such as Tesla, Maserati, and Aston Martin rolling out virtual cars for users to purchase within Metaverse games. These products are merely planting the seed for what the Metaverse can offer businesses. As the Metaverse continues to develop, new doors will spring open offering economic advancement, innovative pathways for brand engagement, and the ability for companies to reinvent themselves in a whole new way.
Why should you jump into D2A commerce?
Although the concept is relatively new, it is progressively increasing in consumer popularity and grabbing the attention of business leaders across verticals. The same way users are creating idealistic versions of themselves through avatars, the Metaverse offers the same advancement opportunities for brands. D2A allows for infinite creativity because anything is possible in the digital realm. Digital billboards and interruptive ads are no longer the limit. D2A is gaining momentum due to its unparallel ability to generate meaningful and impactful connections between businesses and consumers. Additionally, the same draw that B2C brought about with shuffling out the middleman is taken to the next step with B2A as the purchased products no longer need manufacturers, shipping, delivery, etc. This also provides businesses with an opportunity for a more sustainable and inclusive way to reach consumers. This untapped market has exponential space for brands of all kinds to make a unique mark and become a trailblazer for their industry.