Trace Network’s fashion metaverse PARIZ gathers huge interest from investors

Pariz aims to bring life-like experiences that will enable shopping, entertainment and commerce in the metaverse

  • Follow us on
  • google-news
  • whatsapp
  • telegram


Published: Mon 31 Jul 2023, 12:55 PM

The general perception of metaverse is very pessimistic, despite flops from the biggest metaverse projects like META and Disneyland universe. However, investors are getting more enthusiastic about metaverse projects again. Recently, a metaverse technology company-Trace Network Labs confidently took a chance to launch an adoption centric metaverse for fashion and lifestyle — PARIZ and in a short time it got very popular amongst users and now with investors.

PARIZ metvaverse was launched on March 22, and is currently in news for surpassing Decentraland in monthly transactions by almost 30 per cent. PARIZ has 11k+ monthly active users (as per Dapp Radar), who spends an average time of 45+ minutes engaging in experiences like shopping, events and they hangout with friends in PARIZ lounge. This credit goes to their adoption centric approaches like web2 like social logins, zero gas fees for any interactions in metaverse , mind maps for directing users to their choice of experience and access to metaverse with devices like VR headsets, desktop browser and now it's also accessible with mobile browsers.

Currently, PARIZ metaverse has 4 brands’ metaverse stores, where users can engage in social shopping with their real life like Avatar(AI generated with selfie), and get the products delivered to their doorsteps by brands. PARIZ metaverse is now having partnership with big global brands like Beverly Hills Polo Club, Aditya Birla Groups brands and famous designers to launch their metaverse stores on PARIZ. This experiential commerce model is disrupting the existing e-commerce industry. PARIZ event space is becoming a popular destination for gated virtual events, where individuals/companies are hosting immersive and interactive events for presentations, media interactions and virtual entertainment shows.

Trace is now integrating AI capabilities in PARIZ metaverse for better user experience with AI store assistant, by allowing creators to bring their ideas to life and engage audiences in unprecedented ways while rewarding their talents and efforts, paving the way for sustainable careers. Using Generative AI on PARIZ, creators would create better engaging and unique virtual experiences, fashion collections as NFTs, which can be traded or can be given on rent to other platform users for recurring revenue possibilities.

The next perfect bet project is playing by launching a GAMEFI product called ZEST on PARIZ metaverse , which is geared towards hyper casual games. Total market of casual gaming stands at $15 billion, which is yet to be enabled with GAMEFI, which will allow trade of in-game assets and rewards by playing these games. They have timed this product very well, making PARIZ one single destination for all experiences like hangout, shopping and entertainment .

Furthermore, brand's will be able to utilise the GAMEFI layer to launch their theme-based games, which will further enhance collaboration between brands and gamers. This model has successfully been tested with Nike and Gucci and thus creates a perfect economy for end consumers to interact and engage with brands while earning rewards in the form of redeemable coupon NFTs for discounts and other benefits.

Currently, PARIZ metaverse is on Polygon and is expanding on other ecosystems. As per latest news, Trace team is working with the Binance chain to replicate the same successful model for engaging their ecosystem users. This strategy looks simple because it will help to onboard more users and transactions on PARIZ. It will also enable users of respective chains to seamlessly create/trade assets on PARIZ.

The success of PARIZ metaverse is not a mystery, but it follows an adoption centric roadmap which delivers on aspirations of users and provides them with gratification, eventually leading to user retention. While investors are not riding on speculation this time and see a successful metaverse model which has potential to be a sure winner.

More news from KT Network