The platform is called COMEARTH and is built onto the Polygon blockchain which is an Ethereum layer-2 network. COMEARTH anticipates that it will be powering the Metaverse stores of over 100,000 eCommerce brands by the year 2025.
The Metaverse and eCommerce were always destined to have a strong and important partnership in our Web3 future. As with most decentralized ecosystems, plots of ‘land’ or retail space can be purchased as NFTs or Non-Fungible Tokens. As a whole, COMEARTH will act as a global marketplace for NFTs and other blockchain-based goods and services.
It’s not unlike other decentralized platforms like Decentraland and the Sandbox which already allow brands to purchase retail space in their ecosystems. Global companies have already established shops including Gucci, Adidas, Nike (NYSE:NKE), Forever 21, Under Armour (NYSE:UA), and SFLMaven (OTC:SFLM). Other companies like GameStop (NYSE:GME) and Coinbase (NASDAQ:COIN) have established NFT-specific marketplaces for collectors and investors.
In fact, SFLMaven recently became the first jewelry-based NFT retail store in the world when it opened up shop in Decentraland earlier this month. SFLMaven is well known for their eBAY store and Thursday night auctions which bring in hundreds of thousands of dollars in the real world. Now, SFLMaven is hoping to leverage this commerce industry experience into the Metaverse where it will sell jewelry NFTs that can be worn by avatars and playable characters.
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