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Over the past decade, the global consumer has systematically tilted towards online shopping that has changed buying behaviour overwhelmingly in favour of ecommerce. This trend, for all practical purposes, will continue for the times to come. Albeit, companies involved in the ecommerce have noticed that while customer outreach has increased, it has happened at the expense of human connection with their favourite brands.

Brands across the spectrum are facing this problem and are now keen to somehow marry the online commerce genre with user experiences, which only Metaverse technologies can bring forth. Brands have now started exploring integrations with these technologies to attach immersive and multisensory experiences for their customers.

A Metaverse offers this potential amalgamation of online commerce and immersive experiences and changes the way we work, interact, and play, in an online environment. Those with a keen sense of imagination have harnessed the power of the Metaverse to create a wide variety of interesting projects.

Among these companies is Trace Network Labs, which started its journey in 2021 with an eye into the future of online shopping and is poised to make an impact in the future. The company aims to bring new fashion and lifestyle experiences – powered and natively built using blockchains – that will empower businesses and users to expand the possibilities for digital interaction, trading, commerce and collaboration.

The inception

Lokesh Rao and Sunil Arora founded Trace Network Labs in 2021 to help individuals create real-life experiences for their avatars in the Metaverse. While Lokesh has assisted fashion companies in 20 countries in the acquisition and implementation of technology, Sunil has worked in the fashion industry for over 37 years. Over 1,000 apparel and fashion companies have worked with him in over 50 countries, and he has mastered the digital fashion sector in depth. He also lectures at NIFT-India, IIT-India, FIT-New York, London & Paris Schools of Fashion, as well as automation for garment manufacturing.

“Environment drives people’s behaviour and Metaverse can teleport them in that environment of their choice, where they can engage in shopping, socialising and other activities like attending events, parties and fashion shows. With Pariz metaverse, we are building one single destination for GenZ to live their lifestyle, from where they can claim products in the real world too,” said Lokesh Rao, Co-founder and CEO, Trace Network Labs.

The Trace Network brings fashion & lifestyle metaverse-Pariz, for next-generation that bridges the real and virtual worlds. The company is dedicated to bringing innovation and lifestyles to the Metaverse. Using Web3 with 3D + VR technology, Trace Network aims to advance meta commerce and revolutionise online shopping for all online, offline brands including D2C brands to build their metaverse retail presence with Metastores.

Innovation in the Metaverse for ecommerce platforms

Trace Network is at the forefront of ecommerce platform innovation in the Metaverse. This platform provides a number of innovative features and services designed to help businesses succeed in the fast-paced world of ecommerce.

Meta-Commerce

Trace Network Labs has already filed patents for a new innovation in the segment whereby enabling users a whole new shopping experience in its Metaverse -PARIZ. The company aims to provide consumers with a unique and immersive shopping experience that combines the best of the physical and digital worlds. In this new form of commerce, also known as experiential commerce, customers will have the opportunity to interact with products and brands in a virtual environment, thereby enhancing the overall shopping experience.

In addition to offering a better customer experience, better visibility into processes, increased efficiency, and more effective decision making, Trace Network Labs PARIZ Metaverse is built around these ethos:

1. Adoption-centric approach to metaverse

With the rise of meta commerce and the growing popularity of virtual and augmented reality, the company aims to provide a platform for businesses and individuals likewise, to create and launch 3D experiences in the metaverse with all components powered and built natively using blockchain. This, they believe, will make real life-like experiences both accessible and user-friendly to the general public and in turn increase the adoption of metaverse.

2. MetaStores to enable Meta-commerce

In its journey towards promoting Metaverse adoption and immersive shopping experience, Trace Network is pioneering a concept of 3D retail by creating MetaStores. These are virtual retail stores in the metaverse – that act like a computer gaming space where a user just needs to enter as their digital avatar. The users’ avatars thus become the consumers in the MetaStore that can interact with the brand products as well as services. This makes it game-like and enables product engagements, experiences and exploration not possible in 2D environs.

3. Plug-n-play integration of Metaverse-to-Home capabilities with MetaStores

Trace Network specialises in activating fashion and lifestyle in the Metaverse through its metaverse-to-home capabilities and metastores. Consumers can try on clothes and accessories in a virtual environment and have them delivered to their homes with these innovative features. With this technology, consumers will be able to shop for fashion and lifestyle products seamlessly and experience the best of both worlds at the same time. Simply put, it’s a “Buy in the Metaverse & Delivered at Home” that will complete the online commerce’s discovery-to-delivery cycle in the metaverse.

4. Ecommerce for the Web 3.0 generation is Online Shopping 3.0

With its decentralised and secure platform, the company aims to provide consumers with the ability to shop online without the need for intermediaries. With Trace Network’s adoption-centric approach, the company aims to make online shopping more convenient, secure, and accessible for the Web 3.0 generation.

5. Empowering D2C brands to have brand presence via MetaStores

Many Direct-to-Consumer brands that initially started with their own online marketplaces have recently started moving to the brick-and-mortar genre with their own physical stores. With MetaStores now a reality, these D2C brands can start building their own ‘virtual brick-and-mortar’ presence in PARIZ Metaverse, thus enhancing their brand presence for those seeking their products online.

Pariz Beyond MetaCommerce

Trace is also building utilities beyond the above mentioned experiences and use-cases in Pariz. It is believed that users around the world will look forward to creating immersive experiences that brings together

1. Events – This will be a space in Pariz, where people host and attend events hosted by brands, influencers, artists, projects and more. One can organise meetups, fashion shows, fireside chats with influencers, a full-blown TED talk, or corporate get-togethers — all on the Events space in Pariz.

2. Lounge – Get immersive with your meetings using the Lounge in Pariz. This will serve as an alternative to Google meet, Zoom, or a physical meeting in a club or conference room. Just create your meeting space in Pariz, invite your friends, colleagues, partners, or members and conduct the meeting in an immersive setting with your avatars.

Key milestones

Trace Network Labs’ first product BUDDY introduces Web 3.0 avatars with lifelike appearance, with over 2,000 have already been created by the community. BLING Wearable NFT Launchpad has minted more than 2,500 wearables. Currently, eight fashion brands are building their MetaStores in Trace’s PARIZ Metaverse, which will be launched on their own domains as well PARIZ. And last but not the least, Beverly Hills Polo Club will be the first brand to launch a Metaverse-to-home shopping experience through its metastore.

Trace Network Labs continues to revolutionise ecommerce by bringing innovative solutions inbuilt in Pariz Metaverse. Platform users can benefit from a safe, transparent, and efficient ecommerce environment as well as the tools and services necessary to succeed in today’s fast-paced world. It has led the way in metaverse innovation for ecommerce platforms and plays a key role in shaping the future of ecommerce and bringing luxury lifestyles to the Metaverse.