Sokin to Enable E-commerce Payments for the Metaverse

https://thefintechtimes.com/sokin-to-enable-e-commerce-payments-for-the-metaverse/
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Sokin, the next generation payments provider, is set to enable full e-commerce payments for the first time in the metaverse, allowing brands and businesses to grow from its physical store into the virtual world.

Currently, no single metaverse world exists where consumers can shop their favourite brands, however, Sokin will launch its own metaverse community designed to process full e-commerce transactions. Sokin’s metaverse world will host a 3D community of brands and retailers – from sporting to fashion and beyond – and allow consumers to meet, communicate, transact, invest, and purchase in one all-encompassing ecosystem and virtual economy. Consumers will make purchases through Sokin’s accessible peer-to-peer mobile app within the metaverse.

By doing so, Sokin has firmly positioned itself as the leading player in the metaverse global payments world, allowing consumers to connect with some of the world’s most recognisable brands while facilitating the transfer of money in a safe, secure, and transparent way.

The metaverse e-commerce community has already taken initial steps into the virtual world with popular high-street retailer, PrettyLittleThing, launching its first unnamed digital model, ‘Virtual Girl’, while luxury brands such as Gucci, Burberry, and Balenciaga already offering digital versions of its clothing to consumers.

“Sokin’s metaverse world will host different brands and businesses for visitors to access, for example, a football club, entertainment or fashion brand”, Vroon Modgill, founder and CEO at Sokin, who already partner with a number of global football clubs, explained. “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.”

  • Polly is a journalist, content creator and general opinion holder from North Wales. She has written for a number of publications, usually hovering around the topics of fintech, tech, lifestyle and body positivity.

https://thefintechtimes.com/sokin-to-enable-e-commerce-payments-for-the-metaverse/