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Retail, real estate and hospitality are some of the industries which will encounter big opportunities for expansion in the metaverse, says one industry expert.

“At the heart of what the metaverse stands for — it makes the internet more conversational,” Kunal Lunawat co-founder and managing partner at Agya Ventures, a real estate tech focused fund, told Yahoo Finance.

Lunawat envisions the next version of the internet, or metaverse, will give retail brands the opportunity to create a conversational bridge between the virtual and real worlds.

For example a person may buy a virtual handbag for their avatar, “but the proof of ownership of that handbag also gives you access to special discounts and benefits at that brand store in the real world,” said Lunawat.