Meta Valley：Türkiye's Digital Trading City Fully Managed by the Metauniverse

Türkiye's TradeValley is preparing to open a virtual digital city for shopping through metaverse technology, which has become a major priority for global trade leaders.

According to the company's officials specializing in digital commerce, the part of the city called "Meta Valley" simulates the famous landmarks of some Arab cities, which shows the tower in Doha, the capital of Qatar, the palm island of the United Arab Emirates, and other landmarks from Saudi Arabia, Türkiye and other cities.

The commercial movement in virtual cities is active at three levels, namely wholesale trade, supply, and retail shopping. In addition, there are large-scale exhibitions, as well as affiliated conference rooms and theaters preparing for conferences, lectures, and seminars.

This city is the first such platform in the virtual world, which will be divided based on the product categories provided by each part, such as fashion, accessories, food, etc.

The digital market in cities provides shopping opportunities and comprehensive transactions in the virtual world, so customers have their own virtual characters (avatars) who can visit exhibitions and meet with exhibitors, use virtual reality technology or simply "VR" to talk to them, and sign commercial agreements to purchase, sell, and transport goods.

Metaverse Domain

Prior to the launch of the concept of a digital commercial city, the trend of collaboration with the metaverse had become the most common "trend" in the contemporary business world, with increased thinking on how to benefit from it and use its applications in the field.

The concept of leasing is the core mechanism driving the commercial movement in virtual cities. Different professional store owners can rent their space and easily establish their exhibitions or stores in the virtual world, so that customers can communicate with them without restrictions.

Meta Valley does not have a mayor, municipality, or security company, but its commercial market is very similar to the real market, where customers can shop, talk to store owners, negotiate prices, or seek their opinions on their products. However, in the virtual world, it breaks the usual online shopping process.

The founder of the city said that since the spread of the new crown pandemic, the reliability of technical solutions has been on the rise. The popularity of teleworking systems and digital conferences helps to enhance the business processes of the metauniverse.

Trade TradeValley has invested its professional knowledge into the fields of virtual reality and augmented reality through the Expo Valley platform. In addition, it has also developed effective ideas related to the metaverse through e-commerce, as well as the possibility of direct application in various trade activities after its applications are limited to land sales, virtual real estate, as well as entertainment applications such as cinemas and entertainment games. The important issue remains that, What international trade will Meta Valley provide?

Yusuf Yenni Turkoglu, the head of TradeValley, answered this question with the following points:

Explore the development prospects from traditional commercial platforms to platforms that can establish direct communication and interaction between all parties.

Combine the advantages of e-commerce platforms and social media, and find a way to replace traditional product views (websites, pages on social media platforms) by having a comprehensive store that includes all the details of the physical store.

Eliminating the need for travel and mobility between countries, merchants can now inspect and inspect products in 3D and communicate directly with factory owners.

Utilize the maximum capabilities of current technology to increase merchants' sales and increase their profits, while also increasing their communication with potential customers and establishing long-term relationships with them.

Add the missing human dimension in the business process behind the current shopping platform screen practice.

Why must it be a metaverse?

Yusuf Yenni Turkoglu replied that through the metaverse, merchants and manufacturers can meet in the same place and have characters similar to reality. They can talk like they are in the same place, which is undoubtedly a qualitative leap in the field of communication and a qualitative leap in the virtual world that is completely parallel to us. In addition, this provides additional possibilities that are difficult or impossible in the current reality, For example, moving from one city to another in an instant, or moving from one factory to another, with each factory located in a different city.

Founder of TradeValley Corporation, Yusuf Yenni Turkoglu, who created the virtual city of Meta Valley (TradeValley Corporation)

What are the advantages of the metaverse?
At the level of "retail trade" (B2C), each company can rent its own place in this city. In terms of the importance and centrality of the place and its proximity to the city center or special places in the city, it is different from the place in the real world. It selects the shape of the facade building from a large group of prefabricated building, or adds a building with special design.

Advertising can be added to buildings to generate economic returns through advertising, and the interior decoration of buildings can be selected from a large number of different ready-made designs, or auxiliary tools provided by the city government can be used for decoration design. In addition, completely unique designs can also be added.

You can also add products, whether in 3D or 2D, and add payment options, whether through credit cards or remittances, or even in the future using digital currency to make payments. Visitors (customers) can directly talk to them when they enter the store, thereby more reaching their needs and providing them with the best service.

Wholesale trade
Through digital cities, specialized industrial zones can be provided based on product types. Each merchant or factory can rent suitable buildings in this city, and it is possible to simulate their established factories, warehouses, or companies, adding products, detailed information, and selling prices. They can use virtual characters from the metaverse to directly negotiate face-to-face with buyers.

exhibition
The exhibition area contains all the features, and exhibition organizers can decide on the type of exhibition they want to organize and choose the appropriate design for them. In addition, they have the ability to add special designs and display products within the booth. They also offer a wide range of ready-made booth designs, displaying each exhibitor's brochure and video, directly talking to the exhibitor and negotiating products with them.

Challenge
Yusuf Yenni Turkoglu believes that the biggest challenge currently facing Meta Valley is that the novelty of its concept lies entirely in the technology market, and the field lacks previous models. Therefore, the existing technical expertise is insufficient to meet the needs of this market.

The Türkiye businessman and investment expert explained to Al Jazeera that TradeValley has been working hard to train the technical department in this field. In addition, it has also trained the department specialized in 3D design. It also needs to consider the key points to make the design suitable for working on the current Internet infrastructure, and needs relatively high speed.