Metaverse is going to be part of our lives, says Magnati

Metaverse is going to be part of our lives, the question is when, said Ramana Kumar, chief executive officer of Magnati, at one-day event — Metavision — organised by Khaleej Times on Wednesday.

Magnati, a regional leader in the payment solutions industry, recently launched Magnati-MetaV, the region’s first metaverse marketplace that enables users to experience e-commerce in a new and immersive way.

The platform seeks to shift behavioural patterns from “electronic commerce” to “experiential commerce”, with a new virtual world that provides users with richer visual and sensory information, as well as improved quality of information.

“Moving from electronic commerce to experiential commerce is the game changer. Platform approach is critical success factor instead of product or service approach and platforms should come together and create interoperability,” said Kumar.

Magnati-MetaV’s experiential commerce platform delivers multi-fold benefits to online merchants through solutions that address commonly faced e-commerce challenges. By providing merchants with tools that enable customers to virtually experience a product, Magnati-MetaV aims to help retailers reduce sales cancellations, returns and exchanges.