- According to Citigroup, it is estimated that within eight years, the market value of fashion in the metaverse may reach $13 billion.
- Today more than 350 million people are using and having experiences within the metaverse and this number is growing.
- Firms such as Gucci, D&G, Victoria’s Secret, Adidas, have entered the world of the metaverse and even a Metaverse Fashion Week has already been created.
The metaverse is a word that has gradually entered our daily lives, especially since the CEO of Meta (formerly Facebook) Mark Zuckerberg announced the name change of his company, in addition to indicating that they would focus more in depth on this item.
Neverthelesssince before, the metaverse had already begun to impact various industries, such as video games, with the creation of titles that allow gamers to acquire digital assets while having fun.
Something that seems to be unrelated but that are closer than you think is fashion and video games, and if you don’t believe it, just think about how much money players invest in video games. skins new ones, and although sometimes they do it for the attributes that they can add to the characters, other times they only acquire them because they like the way they look.
That is why it is not surprising that another great industry that has had a great impact on the metaverse is fashion and clothing, and what other way to better represent yourself in the virtual world than through your own style?
Several fashion brands have already been seen invest in advertisements and virtual exhibitions in the recent past, however, they are increasingly delving deeper into the inhospitable world of digital environments, to the point of allow users to interact with your products through avatars.
Nevertheless, the idea of digital fashion is still somewhat difficult to understand for those who are not as well versed in the digital world as gamers, fans of cryptocurrencies, tiktokers, content creators and other audiences who spend a good part of their day to day on the web.
That is why it is still somewhat difficult for many people to understand how the mechanics of trying on and buying clothes that only exist in a virtual world works. However, since this market niche continues to expand and gain followers with each passing day, various experts have begun to point out that the metaverse will be more relevant than it currently seems, permeating the idea of various industries, including the future of fashion.
To make the idea clearer, today more than 350 million people are using and having experiences within the metaverseso according to the financial services company Citi Groupit is estimated that within eight years, the market value may reach $13 billion dollars.
It should be noted that, in addition,he fashion world is the one that has taken the most advantage of the metaverse, largely thanks to the interest surrounding NFTs, since with them it is possible to create exclusive unique collections that can gain value over time.
Digital fashion also brings other economic and ecological benefits, since according to the study Digital Fashion Sustainability, digital clothing is much kinder to the environment than its physical version, because the digital one emits 97% less CO2 and consumes around 3,300 liters of water less per piece.
Also, by replacing physical samples with digital ones during the design and development stages, a company’s carbon footprint can be reduced by up to 30 percent.
And, which companies have already taken their first steps in the world of the metaverse? Here are some.
gucci
The fashion house that deals with high-end clothing and accessories, Gucci, formed an alliance with Roblox last year and invited its users and customers to be part of the virtual Gucci Gardena space dedicated to exploring the eclectic creativity that characterizes the Florentine house, within a digital version of the Mercantile Palace from Florence.
Likewise, Gucci made an alliance with super plastica company dedicated to the manufacture of vinyl toys and limited edition digital collectibles, in order to launch SuperGucci, a limited series of non-fungible ceramic tokens and sculptures from CryptoJanky.
Balenciaga
The The Balenciaga brand has also already taken its first steps on Web3, through a collaboration with Fortnite. In this way, Balenciaga created a line of Balenciaga x Fortnite looks, also called skins inspired by garments and looks from the firm’s archive, that gamers could buy for their avatars.
Dolce and Gabbana
This iconic fashion brand introduced a collection made up of twenty wearable looks in VR in the first Metaverse Fashion Week, made in the Decentraland metaverse in March. Similarly, Genesis, the firm’s first NFT collection, was launched in the fall of last year with nine digital haute couture pieces inspired by Venetian history and traditions.
Louis Vuitton
On the occasion of the celebration of the 200th anniversary of the birth of the founder of this haute couture house, the video game Louis: The Game was launched, thus being the company’s first approach to the NFT world.
The video game closely follows the adventures of Vivienne, the firm’s mascot, and has the goal of getting 30 NFTs.
These are just some of the brands that have reached the fashion industry in the metaverse but the list is much larger and without a doubt more firms will be added every day, if you want to know that other luxury brands will reach the metaverse stay reported in Bitcoin Mexico.
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