Serotonin CEO: Luxury Brands Can Make Metaverse 'Beautiful and Fulfilling'

The metaverse needs to become a "rich, fulfilling and beautiful" place to be, said Serontonin CEO Amanda Cassett—and luxury brands are well-placed to make that happen.
 
Speaking on a panel discussion at Decrypt and Rug Radio's R HAUS event in Paris, Cassett said that the "parents" of the Web3 industry were technology and finance. "What got us here won't get us there," she said, referring to Web3's predecessors, "and luxury and fashion has been making our industry beautiful."
 
The reason that Meta's metaverse has yet to gain traction, she said, is that, "It doesn't look good. It's not sensory rich, it's not lush and textured."
 
After renaming itself in late 2021 to reflect its keen interest in building the metaverse, the Silicon Valley company saw a lukewarm reception for its offering. By 2023, it began to pivot towards artificial intelligence and augmented reality.
 
"What I'm excited about are the people that are interested in the intersection of fashion, luxury and Web3 coming in and creating experiences that are not only digital, but rich and fulfilling and beautiful," Cassett added.
 
Web3 also provides an opportunity for luxury brands to forge deeper connections with their consumers, through crypto wallet analytics, said Absolute Labs CEO Samir Addamine. Once a brand has identified customers' wallets, "you look at their buying power, you look at their portfolio, you get all of that," he said. "And then you evaluate an addressable market."


Source: Decrypt