A new metaverse shopping mall has been launched in Mexico, bringing the first immersive virtual gaming and shopping experience to one Latin America’s leading countries. So far, over 80 brands have signed up to enter the “Island Shopping Mall” now available to IOS and Android users in the country.
Ten years in the making, the virtual shopping mall was developed by Mexican entrepreneur Gonzalo l. Suarez with the aim of housing as many virtual shops as possible. He also hopes to make it the most downloaded app in Mexico and then Latin America.
The project connects e-commerce with a virtual video game mall set on paradisical island. Users can make online purchases from their favorite stores and items will be delivered to their physical homes. They can also participate in challenges and competitions to earn coins and “gems” that can be redeemed for discount coupons or products at virtual stores around the island.
Some of the brands that are opening in the virtual mall include Bath & Body Works, GOC, LA Colors, LA Girls, Pai Pai, and Victoria’s Secret. Besides these major brands, there will also be a special hall donated to “emerging brands.”
The Island Shopping Mall’s developers also partnered with a leading British company in discount coupons called The Savings Group Limited to integrate over 800 additional brands, including Nike, Adidas, Guess, Puma, Apple, and others. Many of these brands are deeply involved in Web3, but this will be the first metaverse project of this magnitude out of Mexico.
A recent report from HelloSafe recorded that Mexico is a leader in Latin American investment, with over 13,000 investors pouring money into different metaverse companies. Despite the current bear market, HelloSafe also projects significant growth in the metaverse market for next eight years. If that’s the case, good times could lay ahead for Mexico’s new Island Shopping Mall.
Brands Opening Shop in the Metaverse
Gonzalo l. Suarez ambitious metaverse project is big news for Mexico and Web3 fans, but he’s certainly not the only one who sees the potential of new technologies to reshape e-commerce. We’ve written dozens of articles about new brands, companies, and businesses opening in the metaverse. Here are some of our most recent stories.
First, the Chinese electronics company TCL Electronics officially entered the Roblox metaverse on October 21st, 20222. The TCL Dream House targets players interested Halloween and will introduce them to wide range of new electronics available from TCL Electronics.
Next, a French company with over 20 department stores opened its own metaverse store. Printemps virtual metaverse is a standalone store available through the store’s website. Users who make purchases in the store give have the chance to win one of 30 exclusive NFTs from renowned artist Romain Froquet.
Lastly, the luxury brand Gucci debuted its Gucci Vault Land in The Sandbox metaverse. The activation is ongoing from October 27th to November 9th and will showcase games, contests, NFTs, and more Web3 technologies.
These days it’s not a matter of if companies and brands will open in the metaverse, but rather, when and which metaverse they’ll choose. The new Island Shopping Mall in Mexico is big news as it’s the first virtual e-commerce mall of its kind for citizens of the country. We’ll be following up in the months to come to see if it catches on.