The Doors Consulting Group teams had the opportunity to sponsor and participate in the MEWS Monaco 2023 event dedicated to Metaverse technologies. Karen Jouve, CEO of Doors3, also took the stage to host a conference on the topic of "phygital" in the service of new customer experiences for the luxury sector. It was a special event, filled with encounters and opportunities. Let's look back on the insights gained over three days on the rock.

Diving into a leading web3 event with Doors3

The organizers of MEWS, led by Steven Saltzman, really went all out. Three days of perfectly organized events, under the high patronage of SAS Prince Albert of Monaco.

The exclusive event took place between the Hôtel Hermitage and the conference center in the heart of the principality, just steps away from the famous urban circuit, already set to host the Formula E and F1 at the end of May. It was an opportunity to bring together international builders of metaverse and entertainment experiences.

Notable personalities in attendance included Sébastien Borget from The Sandbox, Talia Zoref from Eyes of Fashion, the teams from Exclusible, Camille and Aline from Camille Louise Jewelry, as well as teams from Velas, Advance Monaco, Phygicode, Gucci, NFT Morning, Beincrypto, and many others.

Metaverses: A New Platform for Entertainment and E-commerce

As rightly pointed out by the metaverse experts present, the emergence of this concept is strongly linked to an underlying trend that is gradually transforming the codes of entertainment.

Today, over 50% of the global population consists of digital natives, individuals who, perhaps like you, were born with the internet. Unlike the previous generation, entertainment no longer revolves around the passive consumption of content on television or other platforms.

For this population, it's all about breaking through the screen; 87% of Gen Z wants to be an active participant in an experience rather than passively live through it.

Inspired by the gaming universe, open metaverses allow active participation in the co-creation of interactive experiences. This is precisely what The Sandbox has achieved with its open metaverse model, natively compatible with Web3.

However, The Sandbox is not alone; giants like Fortnite and Roblox, boasting tens of millions of daily users, have also embraced an approach that enables brands to create immersive and interactive experiences, offering new pathways to their audiences.

Behind the metaverse concept lies a paradigm shift from the familiar 2D web, known for online e-commerce experiences, towards a 3D web. This shift allows brands to offer experiences that blend e-commerce and entertainment.

The transition is accelerated by the maturation of web infrastructure technologies such as 5G, blockchain, and AI, pushing the boundaries of realism across all devices. According to a Citibank study, it is estimated that by 2069, every individual on Earth will have access to the internet.

Currently, only 10% of the web is in 3D, a percentage expected to grow significantly, enabling brands to differentiate themselves, much like they do in their physical stores. This differentiation is especially crucial for luxury brands, aiming to impress clients across all channels and not miss out on the next generation of consumers.

Phygital, the Brand Experience Extension

During Mews, we had the opportunity to meet the founders of the Camille Louise brand, showcasing digital extensions of their jewelry. The Orbis brand was also present, demonstrating the latest innovations in holograms.

These are excellent examples that highlight the polymorphic nature of the metaverse concept. It's not just about a brand positioning itself in a virtual world but rather about creating bridges between the virtual and the real, and vice versa.

Once again, this acceleration is made possible by the maturation of AR/VR and mixed reality technologies. While it's crucial to emphasize that the market is still in its early stages, brands wanting to stay at the forefront should implement test & learn projects and continuous monitoring.

This approach will enable them to be several steps ahead when these phygital experiences, expanding the brand experience to customers, become more widespread. Because, indeed, products have a life and potential beyond the physical world.

Conclusion: A Special Event Revealing Trends

Concluded with grandeur at a Gala dinner in the presence of the Prince and Princess of Monaco, MEWS celebrated the best metaverse and entertainment experiences and initiatives of the year through an awards ceremony. It was an international and distinctive event that Doors Consulting Group was delighted to sponsor.

This served as a means for the group to strengthen its Web3 and Metaverse positioning, consistently providing high-quality forward-looking perspectives to its major clients. Doors Consulting Group guides them through consultancy with Doors3 and the deployment of experiences with the recently launched Dive offering, which is already gaining significant traction among several CAC 40 clients interested in understanding the challenges and launching initial experiments.