Web 3.0 is one of the most vaunted concepts in today’s digital world, and it’s not surprising why it is. Many digital innovations in the works rely on Web 3.0 to come to fruition, and while many of those are still taking shape in the digital world, it is important for people to be able to access and utilize them. This inspired the creation of LORR, a platform that gives accessibility to Web 3.0 and helps integrate it into the current world setup.
“LORR is about access; It’s about interoperability; it’s about sustainability,” LORR’s CEO said. “Everything we do is built on these three factors, and they form the pillars on which we laid our foundation,” LORR’s CEO, Nova Lorraine, said.
By making Web 3.0 accessible, everyone across different demographics will have a presence. LORR specifically helps small to mid-sized brands with the opportunity to access Web 3.0 through a gradual transition through existing infrastructure. “As we all know, we’re still super early; although, for adoption to happen, we need to go from Web 2.0 to 2.1 to 2.3 and not hyper-leap to Web 3 because it is intimidating for a lot of people as they don’t know who to trust or where to go. LORR is building that easy-access Web 3 gateway for these small to mid-sized fashion retailers and brands, specifically luxury and bespoke,” the CEO said.
LORR offers digital asset ownership through virtual real estate and storefronts. The platform’s goal is to create a shift from the expensive virtual spaces in other metaverse platforms that global brands currently own. LORR is attempting to make it accessible through its turn-key solution with a design studio that allows retailers to design something that suits their purpose and customers.
With LORR, retailers and brand owners can buy land, which includes a storefront and an accessible design team to help build and design a storefront in the virtual world. LORR offers its 3D environment to brands’ existing Web 2.0 storefronts, meaning that customers can enter a browser-based 3D environment from a brand’s website and interact with various features within the virtual world.
“Now, we will give our stores, our store owners, the option to upgrade with features such that if they feel their customers are ready to transact with NFTs, then we enable them to do so. We have seen that although most consumers are intrigued by this new method of transaction, they’re not necessarily ready for that, but that option is there as an upgrade feature for retailers,” Prasanna Hari, LORR’s founder, said.
With a focus on sustainability and future evolution, the plan is for LORR to evolve from the 3D environment it offers at the moment into full virtual reality offerings. To actualize its plans, the company has partnered with many VR, AR and XR platforms. It’s also currently working with an AI company to introduce various AI features to its store owners. “The key is to deliver that continuous value to those consumers from the standpoint of branding and storytelling,” Nova Lorraine said.