kitely market - the metaverse marketplace - one year later
TRANSCRIPT
Virtual Reality is Coming……and it’s kickstarting the Metaverse
Kitely Market will enable content creators to serve avatars from all across the Metaverse from a single online store
Multiple Virtual World platforms will compete for Metaverse market share
The Metaverse will be distributed and based on
many technologies
It will be difficult for content creators to reach and support all of their potential customers
Categories
Attributes
Text search
Stores
Variation grouping
Advanced Search Capabilities
Easy Content DiscoveryProduct variations and demos are located in the same listing
Related Products
Customer Reviews
Personalized Shopping
Personalized Front Page
Featured Products
Featured Stores
Public and Private Wish Lists
(Soon) Sales and Promotions
Great User Experience
Mobile App flow in a browser
Intuitive layout
Animated, fast and fun
Merchant FriendlyPowerful product management tools
Tight integration with virtual worlds
Advanced Post-Sales Tools
Detailed sales history
Downloadable sales reports
Easily refund specific items
Deliver product updates
Email notifications
Powerful Content Analyzer
Integrated Advertising System
Advanced Analytics
Flexible Sales Options
Sell for US Dollars or KitelyCredits
Choose whether content can leave Kitely
Sell to the Metaverse
OpenSim (Hypergrid)
(Future) High Fidelity
Rapid Improvement
August 30, 2013
• Kitely Market public availability
September 2013
• Content Analyzer
• Bayesian Ratings
• Search improvements
• Permission handling improvements
October 2013
• Private/Public Wishlists
• Payouts page
• Gifts improvements
• User interface improvements
August 2014
• Kitely Market Analytics infrastructure
• Personalized marketplace front page
September 2014
• Kitely Market Analytics
• User interface improvements
October 2014
• Advertising System
November 2014
• Improved product management
• Merchant-defined Groups
• Related Products
November 2013
• Group/ungroup Variations
• Review reminders improvements
• Search improvements
March 2014
• Delivery to the Hypergrid
• Downloadable Sales reports
June 2014
• User interface improvements
• Reviews improvements
July 2014
• Infrastructure work for future delivery to High Fidelity
• Marketplace speed improvements
• Test delivery improvements
Some lessons learned during KitelyMarket’s first year in business
People who are willing to steal your contentare already doing so.
Consider iTunes: A good marketplace enables you to get money from people who can steal your content in other places.
People will steal my content
Sell to the Metaverse!?
If someone wants what I sell they can buy it there
Do those marketplaces deliver to the Metaverse?
How much time and effort will you or your buyer need to invest to get the bought items properly delivered to the buyer’s avatar?
Make it easier to get your content legally than to steal it.
I already sell in other marketplaces
But what do your actual merchants think?
That’s all nice in theory…
I think the Hypergrid delivery aspect is what is driving much of the growth (besides the fact that Kitely Market just works)…
My Kitely earnings overshadowed my Second Life income for the first time in May 2014.
Ozwell Wayfarer
0
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Marketplace opened (30 Aug 2013 - 29 Sep 2013) Hypergrid delivery (21 Mar 2014 - 20 Apr 2014) Last month (1 Oct 2014 - 31 Oct 2014)
US Dollars Kitely Credits
Growth - Beyond Pent Up DemandIt
ems
Sold
People buy items that have prices listed in US Dollars
Buyers spent an average of $33.45 in Kitely Market
Average item sold for $2.11
Bought using:
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Marketplace opened (30 Aug 2013 - 29 Sep 2013) Hypergrid delivery (21 Mar 2014 - 20 Apr 2014) Last month (1 Oct 2014 - 31 Oct 2014)
Export No-Export
Growth - Beyond the KitelyIt
ems
Sold
Kitely Market delivered items to 49 OpenSim grids
People are willing to pay more for exportable items
Sold as:
0
1000
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6000
7000
Marketplace opened (30 Aug 2013 - 29 Sep 2013) Hypergrid delivery (21 Mar 2014 - 20 Apr 2014) Last month (1 Oct 2014 - 31 Oct 2014)
Export No-Export
Growth in Number of Items ListedIt
ems
List
ed
Merchants are listing a growing number of exportable items
Listed as:
The Metaverse is Still in its Infancy……But Kitely Market is already performing like a Free-to-Play game store
10,000Active Hypergrid users
5% – 10%Of Free-to-play online
game users buy virtual items
4.7%Of Hypergrid users bought
items in Kitely Market
So what’s my takeaway from all this?
Kitely Market is an advanced virtual goods marketplace.
Its goal is to enable content creators to list once and sell everywhere.
It will support delivery to avatars on any accessible virtual environment in the Metaverse.
Despite the Metaverse being in its infancy there is already money to be made in Kitely Market.