Mexico remains second to none regarding crypto-friendly regimes testing, interacting and building innovative development within the metaverse and web 3 boundaries. Indeed, the North-American based country has turned into a crypto-centric regime with the national adoption of digital assets due to rising inflation issues in the state.
Mexico introduces its first shopping mall type in the Metaverse space in this slew. Named Island Shopping Mall, the platform was inaugurated yesterday and currently features around 80 brands. It includes big names like Pai Pai, Momiji, Victoria’s Secret and others looking forward to scaling up their reach globally.
Notably, the metaverse platform plans to list over 800 brands in total and will continue to codify the presence of other brands with time.
That is what distinguishes the metaverse shopping platform for having the ability to programme as many brands as developers can imagine in mind. In addition, virtual shopping includes categorising the different products as per their quality with a specific area for emerging brands. The onboarded brands will roll out either in a communal or private area.
As per the announcement, the new type of shopping outlet has gone live now, and users can interact with it by downloading the mall application to enjoy “an island paradise to have a good time online.” Moreover, the online purchases made through the shopping mall will earn users germs that could be used to get coupon codes and discounts on the shopping points within the Island-space.
Heavyweights Joining The First Metaverse Shopping Mall In Mexico
Other big names participating in the Mexican shopping mall include Biso, LA Colors, Bath & Body Works and GOC. The news also mentioned that the entrepreneur backing this mall has also partnered with other brands like Puma, Nike, Adidas, Levi’s, Bershka, Guess and a giant like Apple.
Notably, some of these brands are already on the road to building their own Metaverse strategies, like Apple currently developing hardware to experience an optimal metaverse. Similarly, Guess unveiled its metaverse store, and Nike has expanded its business strategy, relying on Metaverse and NFTs.
The launch of the Metaverse shopping mall uncovers the rising adoption of Mexicans into the web 3 technology and crypto sector. A comparison report published by the Hellosafe website reveals that Mexico has the largest Metaverse marketplace in Latin America. The Mexican economy has also been poorly affected by inflation during this recession. Therefore, residents of the state have eventually headed toward cryptocurrencies in order to expand earning opportunities.
As per the stats, over 13,000 Mexican investors have poured their money into Metaverse and crypto companies. And the report has projected the market value of the Mexica to reach $650 billion ending this year. If achieved, this rise will further trigger an immense increase of $43,55 billion, per the report.
Featured image fro Pixabay and chart from TradingView.com
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