Netccentric lays foundation for potential metaverse future

[ By New Straits Times]

KUALA LUMPUR: Malaysian-based Netccentric Ltd (Netccentric) has launched a new influencer merchandising marketplace The Merchist by Nuffnang, for its ecosystem of influencers.

Against strong growth for its livestream selling platform Nuffnang Live Commerce,

this initiative serves as the foundation for Netccentric to venture into the non-fungible token (NFT) industry and the metaverse in the future.

Data and insights would enable Netccentric to solidify its NFT strategy and potentially better create virtual influencers for the metaverse in the future.

In an announcement to the Australian Securities Exchange (ASX) today where it is listed, Netccentric said The Merchist by Nuffnang marketplace would help the group better understand consumer buying behaviours and patterns.

Executive chairman Ganesh Kumar Bangah said The Merchist by Nuffnang paves the way for Netccentric to be more actively involved in the NFT industry and metaverse moving forward.

“We are of the view that the metaverse would eventually revolutionise many aspects of life and business, including influencer marketing, and we are currently solidifying plans to be more actively involved in this natural evolution of the industry,” said Ganesh, who was the former PIKOM (National Tech Association of Malaysia) chairman.

The Merchist by Nuffnang is a complete end-to-end influencer merchandising solution, providing inspiration, print-on-demand products and fulfilment, all free of charge and with no risk to the influencer.

This marketplace allows fans and consumers to deepen their relationships with their favourite influencers and artists by offering a range of customised merchandise.

According to the announcement, initial sales through pilot tests have generated a strong response.

The statement also said Netccentric continues to scale up Nuffnang Live Commerce, an e-commerce platform that automates the livestream selling process.

In the fourth quarter (Q4) 2021, the e-commerce platform grew strongly with gross merchandise value (GMV) totalling S$2.33 million (RM7.24 million), doubling since the third quarter 2021 and up 302 per cent from Q4 2020.

Its growth was boosted by the first full quarter contribution from the Netccentric’s investee company, eShoplive.

By year-end 2021, more than 100,000 orders across approximately 500 products from 300 merchant brands had been sold via eShoplive and facilitated by Nuffnang Live Commerce.

eShoplive’s growth is expected to continue with multiple promotions planned with upcoming festive seasons.

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