The Lotte Metaverse allows you to buy online products in the real world

Korean ICT company Lotte Data Communications has created its own version of the metaverse where products purchased can be delivered in the real world.
Loukia Papadopoulos
Lotte Metaverse
The Lotte Metaverse

Prnewswire  

Korean ICT company Lotte Data Communications (LDCC) is participating at CES 2023 by introducing its latest metaverse technology called Lotte Metaverse, according to a press release by the company published on Thursday.

Integrating the offline and online worlds

“The final version that Lotte Metaverse aims for is a world where online and offline worlds are integrated, just like the movie 'Ready Player One.' Products purchased within the metaverse can be used in the virtual world and also be delivered in the real world,” noted the statement.

“To enable such a business model, LDCC created an immersive and realistic metaverse platform based on hyper-realistic content. This is because when browsing expensive items, consumers will not click on the purchase button if they are looking at unsophisticated product images in the form of game items.”

Lotte Metaverse combines real-life characters with graphic backgrounds created with a graphic engine called 'Unreal Engine 5.’ It further uses cutting-edge technologies such as three-dimensional real-time rendering, live-action VR shooting, as well as 'deep-interactive' patents that allow users to realistically interact with objects or real-life characters in VR content.

The end result is a strong feel of realism and the complete immersion of shopping, entertainment, and community experiences in the virtual world.

“The LDCC exhibition booth at CES is made up of a 'VR Zone' where visitors may experience the virtual world through a head-mounted display (HMD) and a '3D Display Zone' where visitors may enjoy the experience through 3D monitors,” stated the press release.

“The 'VR Zone' is divided into a shopping area where users may purchase products such as fashion, cosmetics, and home appliances, as well as an entertainment area where users may watch movies, idol concerts, and EDM performances. For each area, about 20 visitors are allowed to access one virtual world and enjoy its contents together.”

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An additional 'Community Zone' offers a look at the entire virtual world and its city planning.

Presenting products in a grander way

From a sales perspective, Lotte Metaverse is able to present products in a way more luxurious way than in the real world: fashion items may be displayed like works in an art gallery, whereas camping items may be showcased in an in-store forest. 

Lotte Metaverse aims to become a user-oriented, UGC (User-Generated Contents) based platform in the future. The platform goes beyond allowing users to build a castle with blocks. 

Instead, they can buy a high-quality building in a well-planned city and luxuriously decorate their own space with furniture and appliances, just like in the real world. In addition, users may use their building space for various purposes and may even resell their buildings.

In addition, LDCC plans to launch a non-fungible token (NFT) series linked to the metaverse in the first half of this year and open an NFT marketplace and virtual asset wallet.