With the Metaverse, a new world is emerging in which virtuality and reality meet. Against this background, we asked Josip Heit, a blockchain pioneer as well as CEO of an internationally active group with roots born in Croatia, what he thinks of Metaverse, a digital space created by the interaction of virtual, augmented and physical reality, as an internationally active business manager?

Mr. Heit, everyone is talking about metaverse. What is metaversum or metaverse all about?
Josip Heit: „The metaverse is not a finished product, rather it is just emerging and growing, for example, there are currently only a handful of metaverse platforms, however, the number of metaverses will increase in the coming years and the market could even be worth over 50 billion US dollars by 2026.“

Mr Heit, do you see a future for Metaverse in the retail sector?
Josip Heit: „Quite simply, it is not only companies that shape this world, but also the users, who exert a massive influence through interaction. It is already certain that the retail trade in particular will benefit from Metaverse in that companies will use it to strengthen or expand their core business. New points of sale will be generated, new target groups reached and new products offered.
I recently sat down with experts from McKinsey & Company, a business and strategy consulting firm represented in over 65 states, they see a billion dollar market for Metaverse alone only by 2030. Personally, like experts from Forbes, one of the most successful business magazines, I assume that more than half of that will be generated by the e-commerce economic sector!“

Mr. Heit, what impact could Metaverse have on digitalisation?
Josip Heit: „Not only a Metaverse fashion show with digital avatars in a 3D world or NFTs, i.e. a non-fungible token which represents a certain object, be it digital or physical in a blockchain, a continuously expandable list of records in individual blocks, will experience an unimagined data turbo through Metaverse, especially digitalisation and retail trade will benefit from Metaverse, also all of our lives will be influenced by Metaverse to a great extent in the future.“

Mr Heit, can you give us an example of how Metaverse could influence our lives?
Josip Heit: „Products purchased in Metaverse shops can, among other things, be sent to the customer’s home in real life and/or used virtually. A personal avatar in the Metaverse can put on the same clothes and wear the newly acquired exclusive products just like its real role model. Not only the retailers but also the customers benefit from an improved customer experience when trading in the metaverse.
A physical visit to the shop is not necessary; customers can have a realistic experience with the product in the shop. For example, it is possible to test whether a product fits not only in size but also visually before buying it, without having to buy it beforehand and return it if they don’t like it.“

Mr Heit, aren’t we living in a digital world then?
Josip Heit: „No, clearly not, because the metaverse is not cut off from the real world, but interwoven with it. The advantages are manifold, for example, in contrast to conventional online shopping, clothes can not only be viewed in pictures, but tried on via avatar. After all, the avatar has exactly the same body dimensions as its real counterpart, which, as already mentioned, is expected to result in fewer returns, among other things.
An important basis for increased customer acceptance and monetisation of the market is a secure and simple payment process with digital currencies, because with the uniform integration of digital payment providers there will also be well-functioning interoperability, i.e. the possibility of connecting different offers, spaces and types of use, this will enable a uniform metaverse and thus at the same time success as a net worth as a user. „

See more of Josip Heit on Instagram: https://www.instagram.com/josipht/?hl=de

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