kitely market - the metaverse marketplace - one year later

Ilan Tochner | Co-Founder and CEO | ilan@kitely.com

The Metaverse MarketplaceOne Year Later

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

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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:

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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 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.