Magnati-MetaV, the metaverse to transform e-commerce with fiat money and cryptocurrencies

Source: Observatorioblockchain / Jose Maldonado

Magnati, a payment company based in Abu Dhabi, is preparing to launch Magnati-MetaV, a metaverse to transform e-commerce. Buying in Meta-V, Magnati said, will allow payment experiences to be perceived as a bridge between 2D and 3D worlds. MetaV will integrate all payment gateways supported by Magnati and will allow payment with cryptocurrencies and tokens.

Ramana Kumar, CEO of Magnati, explained that today’s e-commerce is based on 2D user experiences, leading to sales returns and customer disappointment. Allowing the customer to experience the product or service dramatically reduces both of these problems, according to Kumar. Magnati-MetaV also aspires to create opportunities for geographically restricted entities. Like educational institutions, stadiums, events or government services.

MetaV magnates, e-commerce metaverse

Magnati is focused on building an immersive metaverse, where the user can have an avatar and move around the metaverse with it and make purchases. Kumar calls it «experiential commerce» because it allows shoppers to specify measurements for their avatar, try on virtual clothes, and be certain that what they buy will fit them.

In addition, the measurements of the avatar will be «private». They are only shared with the seller, but the rest of the people in the metaverse will see the avatar that the user wants to show. Magnati’s metaverse is still in a very early stage of development and the only known images are those provided by its CEO.

he metaverse is talked about a lot, but in many cases it is just a buzzword to attract attention. However, the technology has great applications. From the generation of learning platforms, simulation, teleworking or leisure. 40 years ago, 3D virtual worlds were unattainable, but now they are part of our daily lives and within our grasp.

We tell you the differences between the different types of metaverses

Metaverse Technology

The same thing happens with the metaverses. With timid creations that have been with us since the year 2000, technology has improved to such an extent that metaverses are possible and are already among us. In a sense, what Magnati is doing with Meta-V is just a taste of what’s to come.