Out the Box

Carrefour enters metaverse with virtual game plot

The initiative will enable players to build and monetise their experiences.

WHAT’S THE BIG IDEA?

French retail giant Carrefour has officially joined the metaverse after buying a plot in virtual game The Sandbox, where players can build and monetise their experiences.

SAY WHAT NOW?

First things first: the metaverse. Think of it as another name for virtual worlds, or an amplified virtual experience of the likes of Fortnite.

FORTNITE?

It’s a multi-player video game. Ask an 11-year-old.

SO, WHAT’S THE METAVERSE AGAIN?

The metaverse is literally the combination of the digital and physical worlds. This virtual world consists of avatars (persons) who buy clothes, houses, and experiences just as their physical counterparts would in the real world, making the benefits for companies endless.

There is currently a proper land rush going on for investors looking to buy virtual plots in the metaverse, with prices for some of the land having soared as much as 500% in the last few months, since Facebook’s announcement to enter the race.It was only a matter of time before heavyweight retail names made their move, and Carrefour has chosen to do it on The Sandbox.

WHAT DID CARREFOUR DO?

Essentially, Carrefour bought a virtual field upon which to build its virtual store. According to the company, the area acquired is equivalent to “30 supermarkets in the metaverse”.The area – or parcel number 33,147 as it’s called – is expected to house some of the retailer’s plans for digital transformation, assuming the metaverse catches on.

IS IT REALLY SOMETHING I SHOULD BE THINKING ABOUT?

It is no secret that virtual games such as Fortnite, Sandbox and Decentraland have made the concept of metaverse a lot more widespread than it used to be in the early 2010s.

Remember, although the metaverse is not a new concept, this type of attention on it is. It was only in 2003 that Second Life allowed people to create an avatar or themselves and live in the virtual world the game offered them.

I’M NOT CONVINCED

You’re not alone. “It is not our objective to sell virtual sneakers at €10,” LVMH CEO Bernard Arnault recently said. He doesn’t outright rule out the positive impact the metaverse will have on retail – besides, LVMH has already made some moves towards the new virtual world, having partnered with other luxury companies to create the Aura Blockchain Consortium and having teamed up with gaming company League of Legends in the past.

But it just remains to be seen whether the actual metaverse is something dreamed up by Facebook to sell some virtual clothes or whether it will truly translate into a retail revolution.