Microsoft for Startups : Metaverse ImmersiveCommerce
Science & Technology
Introduction
Good morning, good afternoon! I’m Shesh, the global lead for retail within Microsoft for Startups. Welcome to another session where we highlight interesting topics and startups. Over the last few months, we have run the Startup Showcase Series, inviting startups to present around specific themes such as grocery and e-commerce. Today, we are changing the format slightly to host a panel discussion.
The metaverse is a highly debated topic, yet it is inevitable that at some point, many capabilities will become available for retailers and brands. Today, we have invited a panel of startups to discuss whether the metaverse is something retailers and brands should pursue, the steps they can take, and the capabilities they can adopt now.
Introduction
I’ve been with Microsoft for over 25 years, focusing mainly on the retail sector for nearly two decades. This experience has allowed me to work with leading brands and retailers globally, addressing their pain points and how technology can help solve their business problems.
At Microsoft for Startups, we’re dedicated to enabling startups to scale. There are minimal barriers to entry for startups to join our program, which provides numerous benefits for scaling. The program operates with two core elements: one side focuses on later-stage startups and identifies trends that retailers are interested in; the other side engages with retailers to understand their needs better.
Currently, we’re focused on areas such as:
- The intelligent store
- Unified commerce
- The metaverse in e-commerce
If you’re a retailer looking to collaborate with startups, feel free to reach out through the QR code or the provided URL to join us.
Metaverse and E-commerce
The metaverse has gained significant attention, and while many brands are diving into this space, there are still many questions about its capabilities. Currently, there are multiple metaverse platforms, and interoperability remains an ongoing challenge. Nevertheless, the journey we are on will eventually lead us to an immersive internet experience, integrating the digital world with the physical realm.
Notably, several subcomponents contribute to the metaverse experience, including:
- Digital twins
- Generative AI
- Spatial computing
- Web3 and blockchain technologies
- Creation of 3D assets
Brands are encouraged to adopt these capabilities today in preparation for the broader metaverse evolution. Moving from traditional e-commerce to immersive commerce is vital, and realistic steps can include converting product catalogs to 3D and embracing digital human technologies.
Panel Discussion
In our panel today, we have Linda Pimasoper as the moderator, alongside Max, the co-founder of Z-Blocks; Orlando, the founder of Fastball; and Michael Jung, the business development and strategy leader at Deep Brain AI. Each panelist brings unique insights and capabilities in the realms of immersive commerce and the metaverse.
Linda, starting the discussion, highlighted her passion for fashion and how immersive commerce can revolutionize the industry. Max introduced Z-Blocks as a platform that makes web3 accessible for brands. Orlando emphasized Fastball's role in generative AI to create realistic fashion imagery, while Michael discussed Deep Brain's capability to develop digital twins and avatars for the metaverse.
Insights on the Metaverse
The panelists agreed that the metaverse creates opportunities for brands to reach customers in more engaging ways. Michael mentioned that interactive avatars could enhance customer experiences, while Orlando noted AI's role in enabling faster and more efficient design processes.
Max highlighted the relationship between web3 and the metaverse, emphasizing that while not all metaverses are web3-based, the potential for decentralized environments offers ownership and innovative engagement options for brands.
Brands that fail to engage in the metaverse could risk missing out on valuable customer interactions and data insights. The conversation circled back to how the metaverse can positively impact sustainability in retail through more data-driven decision-making and testing market trends before production.
Call to Action
Shesh concluded the panel by encouraging retailers to explore how they can engage with startups mentioned above and seek collaborations that align with their strategic objectives. Microsoft for Startups offers various opportunities to connect retailers with innovative solutions that can lead them into the future of the metaverse.
Keywords
- Microsoft for Startups
- Metaverse
- Immersive Commerce
- Web3
- Generative AI
- Digital Twins
- Customer Engagement
- Retail Innovation
- Sustainability
FAQ
Q1: What is Microsoft for Startups?
A1: Microsoft for Startups is a program designed to help startups scale by providing access to resources, technology, and connections to enterprise partners.
Q2: Why should retailers consider the metaverse?
A2: The metaverse presents opportunities for increased customer engagement, innovative marketing strategies, and data insights, potentially driving new revenue streams.
Q3: How can startups help retailers transition to the metaverse?
A3: Startups like Z-Blocks, Fastball, and Deep Brain AI offer technology and platforms that make it easy for retailers to develop digital assets, create engaging customer interactions, and explore new business models.
Q4: What potential risks do brands face by not participating in the metaverse?
A4: Brands risk losing exposure to a significant audience demographic, missing opportunities for innovation, and failing to gather valuable customer data.
Q5: How can retailers start engaging with the metaverse?
A5: Retailers can begin by experimenting with digital assets, creating interactive experiences, and leveraging generative AI to optimize operations and marketing strategies.