hopping malls have a number of advantages in the metaverse. One of them is that they can accommodate as many stores as the developers' imagination permits. This is precisely what a Mexican entrepreneur had in mind when he created the Island Shopping Mall: Mexico's first digital mall.

The mall opened and is accessible from mobile devices through an official app in the AppStore or Google Play.

According to the local news organization Cultura Empresarial, users of both platforms can now install the shopping mall apps to enjoy an interactive experience through an island paradise while having a good time online.

Users who access this new digital space will be capable of making online purchases and earning gems and coins, which can be swapped for discount coupons or products at a variety of shopping centers located throughout the island.

Big Brands are drawn to the Island Shopping Mall

There are currently 80 confirmed official brands. They will be separated into categories, with a separate hall for emerging brands.

Bath & Body Works, LA Colors, GOC, Biss, Golden, LA Girl, Momiji, Pai Pai, and Victoria's Secret are among the leading brands confirmed for the mall's debut. Some will have separate or shared areas.

The devs of Island Shopping Mall announced a collaboration with "The Savings Group Limited," a leading British company specializing in discount coupons, to incorporate over 879 brands, including Adidas, Nike, Puma, Bershka, Guess, Apple, and Levi's, among others.

Some of these businesses have already dabbled in the digital space. Nike has developed a profitable business strategy centered on NFTs and the metaverse. Guess has opened a store, and Apple is continuing to build its own hardware to generate an optimal interactive experience.

A Bet on Digital Innovation

Mexicans have placed a large bet on the metaverse. The "Metaverse Mexico Bootcamp" took place just last month. During the event, a group of experts provided training on various business models in the metaverse, endorsing the use of cryptocurrencies. In addition, they offered lectures and exhibitions using augmented and virtual reality technology.

According to Hellosafe's most recent report, Mexico's market is among the largest in Latin America, with over 13,000 investors putting money into metaverse startups.

Despite the fact that most cryptos affiliated with crypto gaming projects have experienced a big decline in market cap, Hellosafe forecasts a 670% growth in the digital market over the next eight years.

This increase would imply a rise of more than $4,355 billion, given that the world market value of the metaverse is expected to be close to $650 billion this year, according to the report.

What do you think of Mexico's first shopping mall in the Metaverse? Drop your thoughts by sharing this article on social media.

Oct 28, 2022
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