Magnati launches region’s first metaverse marketplace

Magnati, a regional leader in the payment solutions industry, is launching Magnati-MetaV, the region’s first metaverse marketplace that enables users to experience e-commerce in a new and immersive way.
The platform seeks to shift behavioural patterns from "electronic commerce" to "experiential commerce", with a new virtual world that provides users with richer visual and sensory information, as well as improved quality of information. Magnati-MetaV aims to accelerate the move from two-dimensional to multi-dimensional online commerce by enabling consumers to shop, learn, play games, attend concerts and more through a seamless online experience.
Built on Magnati’s blockchain, Magnati-MetaV offers Middle East retailers a fully immersive way to reach their customers. Brands can co-create virtual stores in a discovery-driven online environment, enabling consumers to see and feel retail offerings through a multi-dimensional experience. Users will be able to explore, pick up and purchase products across a mix of retail categories, including fashion, groceries, gaming, technology and more. Users can also purchase tickets and sign up for events to attend virtual concerts, sporting events and educational courses.
Magnati-MetaV’s experiential commerce platform delivers multi-fold benefits to online merchants through solutions that address commonly faced e-commerce challenges. By providing merchants with tools that enable customers to virtually experience a product, Magnati-MetaV aims to help retailers reduce sales cancellations, returns and exchanges.
The platform also enables new business growth and revenue opportunities for many other merchant segments, including government, education, events and gaming.
Magnati-MetaV is the first metaverse platform fully integrated with traditional payment rails and gateways to facilitate the transition from electronic commerce to experiential commerce. Payment for products and services on Magnati-MetaV can be made through cards, wallets and other existing digital form factors.

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