Brian Kramer: The First Car Sale In The Metaverse

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Brian Kramer is the General Manager of Germain Toyota of Naples and joins the podcast to share how his store successfully completed the first metaverse car sale. Long-time listeners of the show know that Brian is a pioneer when it comes to technology adoption within the retail auto industry. He's not afraid to try new things and certainly sees the evolution that is happening and is leaning in to be ahead of the curve.

How Brian Kramer Sold The First Vehicle In The Metaverse:

01:54 - The world is more connected today than it ever has been, and it's easier than ever to build a relationship with anybody, anywhere in the world.

02:47 - Michael and Brian discuss that the metaverse is not a new concept. Years ago the popular online world "Second Life" had over 900 million members who would all live vicariously through their avatar in second life.

05:02 - The metaverse is more explosive than most people think, or perhaps are willing to admit. According to Lloyd Ernst and Young, all at McKinsey, they all say that last year (2021) it was a $22 Billion Dollar business. By the year 2026, it is estimated to be a $765 Billion dollar a year business. Citi Group has created a whitepaper forecasting that the metaverse is a potential $13 Trillion dollar market.

09:52 - Brian shares, "I think it's that the retail part of the car business is going to get away from the transaction, price payment. It's going to become more experiential and the brand connection and what you can do with even the legacy pieces of the brand."

10:30 - There are many applications to the metaverse that go far beyond transacting a vehicle. Training, test drives, servicing, and diagnostics — nothing is off the table. It can be a way to make day-to-day life more efficient.

17:37 - Many are worried about the impact of the metaverse of everyday jobs. Brian shares that while jobs that we are accustomed to may go away, the metaverse will also create thousands of new job categories.

Listen to the full episode to learn more about Brian Kramer and the first car sales transaction in the metaverse.

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