The Integrator had an interview with Mr. Sharad Agarwal, Chief Metaverse Officer at Cyber Gear, to learn more about the company’s approach to Web3 and the future of the F&B industry in metaverse.

Can you provide a little background of your company, Cyber Gear?

Cyber Gear is a leading technology company that specializes in creating digital twins, providing immersive shopping experiences with avatars, offering phygital workshops, and helping brands transition from Web2 to Web3. Cyber Gear was the first digital agency in the Middle East region, established in 1996. The company has now started to focus on Web3 and Metaverse services, providing these solutions to global clients.

How do you envision Web3 and Metaverse transforming the entire F&B industry?

Web3 represents the next stage in the evolution of the internet. Although it is still in its early stages, many brands have begun to experiment with this medium, and it is only a matter of time before mass adoption takes place. It is an ideal time for hospitality brands to begin building communities because, without a community in Web3, success is difficult to achieve. Additionally, it is essential to note that in Web2, we have consumers, while in Web3, we must create “fansumers,” who are loyal fans of your brand, similar to brand ambassadors. They will promote your brand even when you are not actively promoting yourself. Thus, it is crucial to use your community as brand ambassadors, and the ideal time to start building that is now.

Which are some of the Brands in the F&B Industry that are Pioneers in this space?

Several international franchises are leaders in using the Metaverse and NFTs to increase their brand presence:

Burger King – ‘Keep it Real Meals’

McDonalds – Virtual Landgrab

Wendys – Virtual Hangout Space in Fortnite

Panera Bread – Online Café & Restaurant

Flyfish Club – Gary Vee’s private dining club

Pizza Hut – Food NFTs

Budweiser – NFT Heritage Collection

The Bored Breakfast Club – Direct-to-Consumer coffee subscription service

Starbucks – Odyssey Loyalty Program

When do you think mass adoption will happen for the Metaverse?

When the internet was first introduced around 1995, people connected with dial-up modems. Today, we can stream movies on Netflix with zero buffering. However, it has taken 28 years to get here, and the Metaverse is still new, so we need to be patient and allow it to evolve. According to Citibank, around 5 million people will be spending a couple of hours in the Metaverse by 2030.

What are your plans for 2023?

We are working on digital twin projects that involve creating virtual cities in the metaverse with full functionality. This means that you can get a trade license, rent an office, and hire people in the Metaverse. This is the future, and it is starting to happen now. We are at the forefront of technology and leaders in the space, but we are still learning because there are no experts.

What is your final advice to organisations in the region?

“If you have seen the Metaverse Bandwagon, you have missed it. You have to be on it!”