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In addition to the launch of the SpatialPort Shopping Metaverse platform, the team is preparing to release their first NFTs, a collection of AR wearable watches called SP21 MTVRSMaster, which they say they will use to fund the development of their eCommerce metaverse platform. “Our expectation is that XR and Web3 technologies will empower fashion and accessory companies to extend the portability of their offerings, show the quality of the products, and prove the authenticity of every item sold.” Keeping Time In The Metaverse “It's our belief that we’re at the beginning of a new digital renaissance where brands, artists, and individuals are empowered to reach out directly to their audiences,” he said. Bellesia explains that’s why his company is working on creating its own couture XR fashion line and plans to open a design studio in Milan to help Italian and European luxury brands digitize their offerings in the form of advanced and complex NFTs for the XR metaverse revolution. He says luxury brands can serve as a building block for the future of the metaverse because ultimately a global meta-reality will not be restricted to digital products, but include real products, too. The idea, Bellesia states, is to make it easy and affordable for creators of all sizes and budgets to display and sell globally, within an open and user-configurable eCommerce virtual world.

Founded last year by a team of eCommerce, fashion, and video game industry veterans, SpatialPort’s metaverse platform hopes to provide luxury brands, retailers, and creators with plug-and-play virtual showrooms combined with a no-code configurator. One of these companies, SpatialPort, says it’s developing what they call a 3D, immersive eCommerce platform, which CEO Alex Bellesia says is specifically designed for an open, decentralized, and democratized metaverse. Some, such as The Dematerialised, LuxFi, and UNXD, provide heavily-trafficked marketplaces for collectors to shop and invest, while others supply design tools and cut n’ sew digital workshops to empower creators in letting their imaginations run wild ( The Fabricant, Lukso, Neuno, Exclusible and SpatialPort). The new platforms being tapped by creators interested in turning their designs into augmented reality-enabled offerings fall into two general categories – designer environments for creating NFTs and XR-ready content (games and videos), and auction-retailing platforms for displaying and selling their wares.

Currently, they enjoy combined annual global revenues of $2.140 trillion (art: $50 billion, entertainment: $1.72 trillion, luxury: $370 billion). Top players in these industries certainly have an abundance of capital to underwrite their digital ambitions. To assist in the transition of those in the art world, entertainment, and luxury goods sectors into the emerging virtual world, a variety of technology providers are already offering solutions.