The Rise of Phygital Marketplaces in the Web3 Era.

With NFT sales plummeting, brands around the world are expanding the use case of NFTs beyond mere digital art to real-world luxury goods. However, some potential brands are still facing frequent challenges to bring their real-world assets into the phygital world of Web3 as NFTs. The reason is — either most of them are not familiar with the concept of ‘Phygital Marketplace’ or don’t have enough resources to bring their real-world assets on-chain.

Don’t worry, we’ve got you covered with all that you need to know about Phygital Marketplace. So without further ado, let’s dive deep into the concept of Phygital!

The Shift from Digital to Phygital!

Phygital is the concept of using technology to bridge the digital world with the physical world with the purpose of providing a unique interactive experience for the users. Thus, businesses or brands can emerge online stores with in-person shopping experiences by creating a Phygital Marketplace that offers exclusive merchandise backed with NFTs.

Since the start of the millennium, the way people engage, interact, consume information, or buy products has changed due to the advent of the internet. But digital adoption saw exponential growth during the pandemic, with more people adopting digital technologies, and turning to apps, bots, and websites than ever before — and this adoption didn’t see any flip side even post-pandemic instead, users started prioritizing more seamless, in-person & interactive shopping experience at the comfort of their home or anywhere. In short, without actually going to physical stores, users want holistic & immersive experiences in brick-and-mortar that are curated specifically for them and not mass-produced.

Therefore, to keep up with consumer demands and expectations, it has become imperative for brands to welcome Phygital, where users’ experiences can be enhanced using the best of the physical and digital worlds.

The Future is Phygital: Blurring the Line between Physical & Digital.

From Diesel, and Prada, to Balenciaga all are utilizing the concept of Phygital to reap benefits, including increased conversions, personalized customer experiences, boosted brand loyalty, and so on. So, what are you waiting for — start understanding your customers' needs, what matters to them, and how they like to shop & interact. Then jump to creating your Phygital Marketplace strategically to combine the efficiency and convenience of online shopping with the immersive, brand-driven environment of a bricks-and-mortar experience.

If you’re wondering, what opportunities does Phygital bring for you? Then, we’ve listed some opportunities here for you!

Creative opportunities to reap the benefit of Phygital Space

1. Phygital Fashion: In the phygital world of the metaverse, fashion brands can create their Phygital Marketplaces where they can list their exclusive collection and allow users to touch and try on garments on more life-like avatars. Fashion brands like Diesel is already leveraging the benefit of this space by dropping their Phygital NFT wearables. Whereas brands like Another-1 (AN1) also jumped into the NFT bandwagon with their Phygital NFT Sneakers to increase their user base worldwide.
2. Phygital Art: Phygital art market is growing exponentially. Artists like Ruben Rojas are dropping their exclusive Phygital Love NFT collection for art lovers. Nevertheless, artists like RtistiQ are bringing the Indian master Raja Ravi Varma’s Lithographs in the form of Phygital NFT to provide the artists with a chance to get a hold of it through auction or just witness the true iconic aesthetic essence of this art. Don’t you think that Phygital is a great way for artists to add value to their creations by bringing collectors, fans, and consumers into closer proximity to their creations?
3. Phygital Automotives: Phygital opens various options for the automotive industry to extend its services, showcase more models, exhibit vintage cars & more in this realm to provide users with exclusive experiences. Like Hyundai is doing by launching their lQNlQ 6 NFT collection to get into the phygital realm and provide new experiences & value to Millennial and Gen Z consumers in particular. Whereas, luxury automotive Abrand Lexus Turkiye organized a Metaverse ‘Phygital’ launch event for its new Lexus NX to step out from the conventional automotive launches.
4. Phygital Healthcare: Companies like LivWell are going to use the Phygital model to promote wellness and healthy habits in users. To do so, LivWell is launching their Phygital NFTs to engage users from worldwide and boost their brand loyalty within this space. Henceforth, Phygital is great for the healthcare industry to get its foothold in the immersive world of Web3.

How Pandora’s Express Protocol can help you!

Pandora’s Express Protocol is a decentralized NFT Market gateway that enables both Web2 & Web3 communities to grow, explore, and innovate amazing NFT Marketplaces conveniently.

The Multichain Data-Rich SDK of Express Protocol enables designers, artists, and everyone to create their own next-gen Phygital Marketplace with just a few lines of code at no development cost in just a matter of minutes. By creating this Phygital Marketplace, you can easily list, sell, & auction your Phygital NFTs across the Express Protocol’s’ Network. Moreover, with Express SDK, you don’t have to engage in any complexities of reinventing the wheel. So, even if you’re unfamiliar with blockchain coding, you can still create your NFT space in the Web3 world with Express SDK!

Apart from it, Artists can create an immersive and inclusive environment through the Phygital marketplace where art lovers from around the globe can engage seamlessly and can reap the rewards by investing in the hottest Phygital NFT Art. So, access the Express SDK to create your own Phgytial Marketplace today!

Additionally, its lucrative and power-packed features like Shared OrderBook help you interact with multiple marketplaces and allow you to execute trade across diverse marketplaces built on Express SDK to induce cross-marketplace liquidity within the NFT assets. Now, it’s your chance to leverage the potential of Express SDK!

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