What is the future of fashion brands in the metaverse?

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Some say we are already in the metaverse. The Covid-19 pandemic has ushered in an era in a digital world where we meet via Zoom, shop online and care more about expanding our social media online than the physical world.

Metaverse is creating its own world of opportunity through immersive virtual reality. A place where we can work, play and of course shop. The fashion industry is welcoming virtual apparel as luxury fashion brands like Burberry, Gucci and Balenciaga have partnered with top video game designers to launch digital collections to personalize people’s avatars on the metaverse. are doing

Just like the runways are full of quirky and bizarre creations, the metaverse can be anything you can wear and people can be as weird and wild as they want. Digital fashion meets the endless need for self-expression without harming the environment or creating waste.

Digital fashion is sustainable fashion

The age of influencers has led to millions of people buying clothes that will appear digitally online. Virtual clothing can provide impact without polluting the environment, worn only a few times, and thrown away in shipping, returns, and landfills. Digital fashion is environmentally friendly because it is waste-free and carbon-neutral.

Another use case for digital fashion is to allow consumers to virtually try on clothing items in a digital showroom before purchasing the physical item. The application significantly reduces the rate of online shopping returns that you are currently generating. 5 billion pounds landfill every year.

Metaverse Fashion Week (MVFW)

Last March, the first Digital Fashion Week was held at Decentraland, a decentralized virtual social platform built on Ethereum. Brands like Dolce & Gabbana and Hèrmes Birkin bags have embraced the metaverse by opening digital boutiques where users can show off their status. Forever 21 recently introduced a wearable collection for the metaverse. Estée Lauder’s wearable gave her avatar a golden glow with her ‘Little Brown Bottle’ serum and was a hit with virtual attendees.

Gucci’s first digital sneakers

Released by Gucci in 2021 first digital sneaker Gucci Virtual 25 ‘Wear’ on social media or augmented reality (AR) for as low as $9 to $12 If the actual sneaker retails for $1,000 or more, it’s a pretty cheap price. Like filters, these shoes appear in apps that unlock access for users to wear and take pictures of themselves and share them online.

Unlike NFTs, these virtual garments do not belong to the buyer via blockchain proof of ownership. Buyers can still access or wear the shoes.

These digital sneakers aren’t Gucci’s first virtual apparel, along with previous virtual wearables designed for Sims 4 and Pokémon GO. Gucci is also working to allow shoppers to try on real sneakers virtually through the brand’s app.

NFT Hoodie sells for $26,000

The world’s first NFT fashion brand, Overprized, sold the most expensive hoodie at auction for $26,000. With a ‘F*ck your money’ motto, the artist creates a real hoodie with a scannable QR code to display the NFT, pay and authenticate as proof of ownership.

The real value of clothing is essentially in digital tokens that purchase wearable art. This gigantic hoodie is a prime example of how the decentralized virtual space of the metaverse is disrupting the industry and allowing smaller, lesser-known fashion brands to compete with big names in this equitable competition in digital fashion.

High Fashion is capitalizing on the popular trend of virtual assets in the metaverse, predicting a significant portion of fashion brand revenue from digital products within the next 5 to 10 years. Targeted at Gen Z, these younger consumers are already advocating sustainable fashion and are more likely to express themselves through social media.

The Age of Influencers (some are avatars themselves, Michela Friar), people are already flaunting online, so using digital fashion to turn it into a means of spreading influence and status around the world is relatively minimal.

Anastasiia Ageeva is a PR expert working on crypto and art projects. She is Anastasiia and she has worked in technology, arts and digital media for over 5 years and she focuses on business development and strategy.

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Featured image: Shutterstock/KDdesignphoto/Natalia Siiatovskaia

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