Metaverse pioneer Infinite Reality will buy virtual shopping platform Obsess

The news: Metaverse pioneer Infinite Reality plans to buy Obsess, a virtual shopping platform that has developed 3D digital stores and experiences for more than 400 brands, including Ralph Lauren, L’Oréal, Crate & Barrel, e.l.f. Cosmetics, and J.Crew.

The vision: Even though most consumers currently access Obsess’ 3D experiences via their mobile devices, the company has begun building for other mediums, like Roblox and other games.

• Infinite Reality envisions a future in which Obsess’ technology helps it develop device-agnostic immersive experiences for brands that are accessible across web browsers, games, and devices like the Apple Vision Pro and Meta Quest.
• While Obsess has focused on building experiences for large enterprise clients, Infinite Reality aims to democratize the technology by making it more readily available for smaller companies, Karina Kogan, Infinite Reality’s chief marketing officer, told WWD.
• Expanding the technology's reach offers a compelling opportunity, with some brands reporting up to an 80% higher average order value in their Obsess store compared with their ecommerce site, said Neha Singh, Obsess’ CEO, who will soon join Infinite Reality as chief innovation officer.

Our take: While the metaverse—or extended reality—may no longer be the hot new trend, the Infinite Reality deal highlights sustained enthusiasm for the technology. This excitement is well-founded, as younger consumers, who have grown up engaging with games like Roblox and Fortnite, provide a strong foundation for shaping the future of brand engagement.

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