Wow! Momo, a homegrown quick service restaurant (QSR) chain, has said it has set up three shops in the metaverse, becoming the latest brand in a legion of global and Indian brands that expect metaverse to become the next frontier of e-commerce.
The Tiger-Global backed firm said its digital outlets have come up on metaverse platform called Festemverse and the service is currently available for Android users and will soon be available to iOS users.
Metaverse is a digital world where users interacts and conduct businesses using their digital avatars.
Wow! Momo aims to start trading from their Metaverse stores of Wow Momo, Wow China and Wow Chicken by the festival of Dhanteras and the company said consumers can trade on their Metaverse stores and convert their non-fungible tokens(NFTs) and redeem them at Wow’s physical outlets.
“ It’s imperative to stay relevant and stay up to speed today; Metaverse is an investment for the future,” Sagar Daryani, CEO & Co-Founder, Wow! Momo Foods. “Whilst we are launch partners for Festemverse today; our aim is to grow this and at the same time also be part of all the popular metaverse platforms.”
Wow! Momo currently operates 3 brands: Wow! Momo, Wow! China and Wow! Chicken had raised INR 125 Crores at a staggering valuation of INR 2125 Crores.
Metaverse is becoming a buzzword nowadays, and it is also getting a lot of attention among netizens. Industry experts believe that with this new world, there is a great opportunity with the retailers to give a unique experience to their customers. International brands like Puma, Benetton have already invested in the metaverse world. Indian companies like Mahindra and Mahindra, Tanishq and Makemytrip have ventured into this digital space and are looking to create a storm.