As metaverse is gaining universal appeal among omnichannel retailers, its newest creation – ‘metaverse of senses’ – could prove a bonanza for perfume companies.
Officials of the Auralink synaesthetic technologies platform, participating at Gulfood 2023 in Dubai, are piloting a concept for a ‘microphone’ that records fragrances, which works conversely as an “iPod” – “nose-pod” – for transmitting the smell of objects that are not physically present in front of you via electromagnetic pulses.
“Auralink specialises in building advanced technologies to catch, analyse and reproduce any smell in the world,” said chairman and CTO at Auralink, Alistair Pernigo.
This idea occurred to Pernigo he was sitting at the airport with his parents, observing police dogs sniffing passengers.
Pernigo’s technology of multisensory capabilities enhancement is expected to have a far-reaching influence in the retail sphere and beyond.
Earlier this month, a cruelty-free makeup brand Liht Organics, leveraging the metaverse trend, launched a tech-enabled stall in Dubai where consumers can try Liht makeup products on a VR Avatar.
The metaverse is an alternative 3D environment that immerses individuals into a simulacrum of the physical world in digital space. The metaverse can be accessed through a computer or smartphone, but a cryptocurrency wallet is required for active involvement.
Ever since the rise of blockchain and metaverse, the UAE has been at the forefront of championing this technology for bettering businesses. The government has been promoting active research and development in this space, with events like the Dubai metaverse Assembly enabling positive dialogue across industries
Chief metaverse officer at Cyber Gear, which builds digital twin projects and experiential shopping in Web3., Sharad Agarwal, said: “The important thing to note here is that e-commerce is going to be huge in the metaverse. It’s the largest segment in terms of adoption.
“Think of using metaverse as a new sales channel. As technology advances, actual transactions will start happening in the metaverse. The good thing is, you can create experiences in the metaverse and link them back to your Web2 e-commerce website.
“I think this is huge in this digital era, giving more refined multisensory capabilities to the user. We are creating clearer human-machine interfaces to open the door for more avant-garde perspectives for consumption, wellness, health and education.”
The concept has already been brought to life last June when digital fashion startup Rtfkt and luxury fragrance brand Byredo partnered to release customisable digital scents, or ‘auras’, for Web 3 that can also be purchased as physical perfumes.
According to Global Market Estimates, the global augmented and virtual reality market for cosmetics and beauty products is anticipated to grow at a compound annual growth rate of 25.5 per cent till 2027.
Meanwhile, the revenue growth of the global beauty and personal care market will soon accelerate, reaching an annual rate of 4.3 per cent by 2026, according to Statista’s Consumer Industry Outlook.
