The TikTok generation has a noticeably short attention span. This translates into boredom with traditional websites. To engage customers of companies, startup Agoraverse offers a platform ‘that enables the sale of products or services through the Metaverse, leveraging the best out of e-commerce, retail, but also gaming.’ At the latest Metaverse Pitch event Oscar Bellei presented his vision.
Oscar Bellei is CEO and co-founder of the Agoraverse. “We see ourselves as a Metaverse development studio, meaning that we create virtual worlds and virtual experiences for companies. They are developed as marketing devices, branding devices, or conversion tools. We can really create and craft worlds that are specific to our client’s needs. As a Metaverse project we are focused on deliverables that you can measure.”
Agoraverse started a year ago as an NFT project. Bellei: “We minted an NFT collection on the Solana blockchain in February, and it was a massive success. We sold out in a couple of seconds, we had exceptionally good community engagement. So, from this NFT collection success we raised a good amount of funds. We then decided that we wanted to go a bit further with the idea of virtual apartment concepts. It sounds cool, but what do you do with those? So, we wanted to figure out what the Metaverse could be useful for today.”
Engagement
“We decided to create virtual worlds that would function as shops, but also stores that could go a bit further than simply selling a product: stores that can tell stories and can entertain the user. Because a problem we noticed is that users are getting increasingly bored by traditional websites. The average website visits are under three minutes. There is a 47% bounce rate across every industry on websites. The average user’s attention span is 8.25 seconds. So, attention span is obviously a big topic nowadays, it is the TikTok generation after all.”
Because of this lack of retention companies are missing revenue, claims Bellei. “An average website conversion rate is 5%, and the average of a retail shop is a 30%. So that is a 25% gap. And we see Agoraverse as the solution to bridge this gap. What we built is a platform that enables the sale of products or services through the Metaverse, leveraging the best out of e-commerce, retail, but also gaming.”
Lonely
Meta shops are the future replacements of websites because it gives users an exciting time. It is something unique, something that catches their attention, something that makes them curious to know more. They are meant to be as accessible as websites with a traditional user journey, still familiar to the user. And it is a bit less lonely because visiting a website today is a very lonely experience. But with Metaverse, you can do that with others.”
“And for our clients, which are companies, we see it as a device that can help them sell more, but also increase their branding and marketing capabilities. It is as affordable and easy to create as a website, but it is also more convincing, more appealing, and more differentiated. We believe that in some industries that are competitive, having this technical edge will be a key factor.”
“Because an important question is to ask yourself is: this Roblox generation that we have today, which represents two hundred million players per month. what will they be looking for when they get to the age of eighteen and become online consumers? They will look towards experiences that they are familiar with, and they can identify with. That is where we see our Meta Shop solution really work.”
