Unlike many people think, Metaverse is not just for video games, but can also be used for various purposes. A business that wants its customers to have an immersive experience prefers the metaverse. Besides better communication, the metaverse helps people have a unique experience that they never had before. This is why big heads are focusing on the metaverse without having any second thought of spending millions of dollars.

Recently, Mexico built its first Shopping Mall in the metaverse. A Mexican entrepreneur Gonzalo I. Suarez created a metaverse shopping mall named “Island Shopping Mall”.  The goal is to have as many stores as possible.

This virtual shopping mall allows visitors to shop online, collect coins and gems for discounts and use them for buying real-time products. Bissú, Victoria’s Secret, Bath & Body Works, Pai Pai, GOC, Golden, Momiji, LA Girl, and LA Colors are a few of the stores that are opened in this Island Shopping Mall while popular brands like Nike, Puma, Adidas, Apple, Levis, and Guess are going to join soon.

Some of these brands like Nike, Apple, and Guess have already entered the metaverse and are going to amaze people with their innovations. The shopping mall developers revealed that they are partnering with “The Savings Group Limited” to open a total of 879 brands.

Gonzalo said that it is a pride to present the new concept of digital commerce. He is working on the idea for 10 years and is hoping that this shopping app will get many downloads in Mexico. The businessman also wants to expand the app to Latin America.

The app is already available to users for download through App Store and Google Play. According to the reports, Mexico is showing much interest in the metaverse and web 3 as 13,000 investors in the country bought shares of companies, creating businesses in the metaverse in 2022. Reports also suggest that More than 60% of Mexicans know the word ‘Metaverse’.

Also, Mexico has taken the decision to set the regulations for businesses in the metaverse this month. Another interesting news is that Indira Kempis, the country’s senator, suggested making Bitcoin legal tender.

Mexico Bets Big on Metaverse

Mexico is betting high on this digital innovation, Metaverse. In October 2022, the Metaverse Mexico Bootcamp was conducted where experts provided training on metaverse business models with Cryptocurrency. The experts also gave lectures and held exhibitions on Augmented and Virtual Reality.

More than 13000 investors spent money on metaverse companies, making Mexico one of the largest metaverse markets in Latin America.