Sokin to bring ecommerce payments to the metaverse

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Uk-based payments provider Sokin is set to be the first company to bring full ecommerce payments into the metaverse allowing brands and businesses to grow from its physical store into the virtual world.

Sokin will launch its own metaverse community (which can be previewed here) designed to process full ecommerce 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 ecommerce 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. It’s possible we could see marketplaces already very well established in the world of ecommerce evolving into virtual realities themselves.

Sokin’s metaverse world will host different brands and businesses for visitors to access, for example, a football club, entertainment or fashion brand, 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.

– Vroon Modgill, Founder & CEO, Sokin

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