Worldwide currency account provider Sokin, is ready to enable full e-commerce for the first time in the metaverse. This will allow brands and businesses to grow from their physical stores into the virtual world.
At the moment, there’s no single metaverse world that allows consumers to shop on their favourite brands. However, Sokin is set to launch its own metaverse community that’s designed to process full e-commerce transactions.
Sokin’s metaverse world will host a 3D community of various brands and retailers – from fashion to sporting and beyond – it will allow consumers from around the world to meet, invest, transact, communicate and purchase in one all-encompassing ecosystem and virtual economy. Consumers can also make purchases using Sokin’s accessible peer-to-peer mobile app within the metaverse.
Vroon Modgill, founder and CEO at Sokin explained, “Sokin’s metaverse world will host different brands and businesses for visitors to access, for example, a football club, entertainment or fashion brand. “We’ve seen campaigns by retailers in which an avatar models an item of clothing but then the experience abruptly stops there. So, we close the sales loop by ensuring a purchase can be made directly within the metaverse experience – this is never before seen innovation we are spearheading as we further bridge the gap between the metaverse and the physical world.”
With this, Sokin has firmly solidified its position as the leading player in the metaverse global payments world as it allows consumers to connect with some of the world’s biggest brands while facilitating various monetary transactions in a safe, secure and transparent way.
The metaverse e-commerce community has already made its first steps into the virtual world with PrettyLittleThing, a popular high-street retailer launching its first unnamed digital model, “Virtual Girl”. Luxury brands like Burberry, Balenciaga and Gucci are already offering digital versions of clothing to its respective consumers.
Sokin made itself known in August 2021 when it launched its Global Currency Account that’s designed to give consumers up to 51% cheaper global money transfers as well as access to cost-effective currency exchange in 38 currencies to more than 200 countries and territories for a single fixed monthly fee.
Despite already having more than 120,000 registered users in 32 countries, with up to 175,000 on its worldwide waiting list, Sokin is surely set to garner even more users as it delves into the metaverse.
Isa Muhammad is a writer and video game journalist covering many aspects of entertainment media including the film industry. He's steadily writing his way to the sharp end of journalism and enjoys staying informed. If he's not reading, playing video games or catching up on his favourite TV series, then he's probably writing about them.
