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January 25, 2022updated 06 May 2022 2:28pm

Bold Metrics enters the metaverse with “first” body data NFTs

Developer of algorithmic body measurement prediction technology Bold Metrics has unveiled what it claims is the world's first body data non-fungible token (NFT).

By Fi Forrest

Unveiled at last week’s NRF2022 – Retail’s Big Show, the patent pending Body Data NFT technology allows Bold Metrics to work with Web3 native Ethereum wallets like Coinbase and Metamask to provide a streamlined experience for shoppers buying clothes online, in-store, or in the metaverse.

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The Metaverse is becoming a reality – adapt to meet it

Although the term resists single definition, the metaverse can broadly be described as a virtual world where users can meet, work, play, shop and socialize in real-time within simulated scenarios. The theme has gained traction following Facebook's rebranding to Meta, prompting enterprises to consider how they can seemingly develop economies, trade with other companies, and form alliances in new and imaginative ways as the metaverse use cases and applications grow broader. This is subsequently encouraging businesses across sectors to begin developing capacities related to the metaverse experience, foundation, tools, and user interfaces. Simultaneously, the impact of the COVID-19 pandemic has accelerated the technology adoption rate, thereby increasing the expectations of stakeholders. Amid all such developments, the metaverse is projected to influence multiple sectors with user engagement, collaboration, training, and learning being touted as some of its early use cases. GlobalData examines how the innovative adoption of emerging technologies can accelerate the advent of the metaverse ecosystem. This report explores our in-house data to provide our clients with insights into how various companies are driving the immersive ecosystem’s growth with their innovative solutions.
by GlobalData
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“We’ve always had the vision of making body data portable, the missing link has been an open and secure standard – NFTs allow us to deliver on this vision and instantly access the Web3 ecosystem,” says Daina Burnes, co-founder and CEO.

The Bold Metrics Body Data NFT can be powered by body measurement capture methodology including Bold Metrics’ proprietary AI body modelling technology. Shoppers with a Bold Metrics Body Data NFT in their Coinbase, MetaMask or other Ethereum wallets can instantly get apparel size recommendations on websites, access in-store concierge services, and generate avatars for use in popular metaverses like Decentraland and The Sandbox. 

With companies like Nike and Adidas both stepping into the NFT space and expanding into the metaverse, Bold Metrics says it is positioning itself to play a key role in future digital transformation. 

Consumers will be able to easily create their Body Data NFT seamlessly from a phone, tablet, computer, or compatible AR/VR device and instantly provide brands, retailers, and metaverses with their detailed body measurements authenticated on the blockchain, according to the company.

Jeff Mergy, vice president of product and strategy, adds: “When we look at how products will be personalised to people in the future, we see our Body Data NFT being at the core of these experiences. That future isn’t ten years away, it’s one or two years away and for some companies, it’s happening right now.”  

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Free Report
img

The Metaverse is becoming a reality – adapt to meet it

Although the term resists single definition, the metaverse can broadly be described as a virtual world where users can meet, work, play, shop and socialize in real-time within simulated scenarios. The theme has gained traction following Facebook's rebranding to Meta, prompting enterprises to consider how they can seemingly develop economies, trade with other companies, and form alliances in new and imaginative ways as the metaverse use cases and applications grow broader. This is subsequently encouraging businesses across sectors to begin developing capacities related to the metaverse experience, foundation, tools, and user interfaces. Simultaneously, the impact of the COVID-19 pandemic has accelerated the technology adoption rate, thereby increasing the expectations of stakeholders. Amid all such developments, the metaverse is projected to influence multiple sectors with user engagement, collaboration, training, and learning being touted as some of its early use cases. GlobalData examines how the innovative adoption of emerging technologies can accelerate the advent of the metaverse ecosystem. This report explores our in-house data to provide our clients with insights into how various companies are driving the immersive ecosystem’s growth with their innovative solutions.
by GlobalData
Enter your details here to receive your free Report.

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