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Metanews Videos January 15, 2022

Lotte is about to launch its new metaverse shopping platform

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Lotte Homeshopping, one of the South Korea’s major home shopping enterprises, is planning to create its own metaverse platform in 2023. There, it plans to sell genuine products and provide live commerce services using non-fungible tokens (NFTs).

lotte metaverse

“Because metaverse and NFTs have become new development engines for enterprises around the world,” a Lotte Homeshopping official explained. “We have entered into a commercial partnership with local companies with the top professional technologies and research skills in this field.”

On Wednesday, the home shopping service inked a deal with 13 companies in the information and communication technology (ICT) sector. AI, VR, extended reality (XR), blockchain, NFT, content, and cloud computing professionals are among them.

Given the metaverse service’s symbolism, the contract paper was issued with NFT. In the near future, Lotte will form an advisory body with several companies and invite other participants.

The metaverse platform of Lotte Homeshopping will comprise an NFT marketplace, a live trading studio, and online communities where users can interact.

The company also expects to launch an NFT marketplace on its mobile app in April. Which would be the first stage in its NFT business. Furthermore, Lotte will launch its “meta-living studio” in the same month. Indeed, an avatar will be able to conduct live shopping in a 3D virtual area made via a smartphone app. Customers can participate in a futuristic shopping experience. Lotte will also offer XR-based content at its October large-scale shopping festival.

Moreover, the company wants to hire workers for the metaverse service. As well as open an exhibition hall to advertise its online export consultancy services to small and medium-sized businesses.

“We want to accelerate digital transformation in the future by pushing our metaverse service based on advanced technologies beyond blockchain, virtual reality, and digital human development,” a Lotte Homeshopping official stated.

For MetaNews.

Jonathan Hobbs is an Australian investor and author that trades on a variety of asset classes, including currencies, equities, and commodities. Jonathan’s experience as a macro trader leverages his unique writing style to combine important elements, such as technical analysis and news. The other elements that he brings into his unique writing styles are foundation analysis aimed at rational equilibrium values, evaluating the sizes and motivations of buyers and sellers, as well as identifying the needs of the buyers and sellers in the individual markets. Jonathan is committed to quality writing for new traders as well as veterans.

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