How Will The Fashion World Embrace The Metaverse?
The concept of the Metaverse is slowly engulfing mainstream industries and fashion as we know it. While many fashion forward luxury brands have jumped on the bandwagon when it comes to integrating the technology, one thing we will tell you is, the whole idea in general-especially with web 3.0 being the internet today, is nowhere near slowing down. While at the moment, we see gambling and gaming sites fully open to integrating the metaverse, in their player experience, especially now that new sites to play slots at with blockchain initiatives are at the forefront, why is it harder to adopt the technology in the fashion world? Let us tell you what we exactly think on the matter.
What can we expect from the future?
With some mainstream fashion brands such as Balenciaga, Gucci, Moncler, Burberry, and Nike taking the first steps into the metaverse, the luxury world seems to be very open minded about the concept of the virtual fashion space. With so many opportunities and technological advancements happening every single day, it is important for brands to have an open mind and be open to the collective changes that happen overnight.
While experts believe that the Metaverse has the opportunity of increasing revenue by at least 10% on the luxury fashion goods market, this trend comes primarily from the concept of enhancing customer gaming experiences online. Digitalised collections similar to the concept of skins in the gaming world, will be the key to this breakthrough.
Leveraging the NFT schemes on blockchain, in an intuitive and relative sense to each brand, is how fashion can and will stay relevant as we merge towards the collective digital future together. Not only will this be about fashion, but brands need to keep in mind what the social changes are that can occur from this. They will need to invent a way to adopt both, as well as maintaining the customer shopping experience, but online, of course.
For most brands this is a revolutionary opportunity to indirectly market the brand when collaborations and partnerships are formed. Would anyone have thought that Gucci would have paired up with Roblox, in creating a shopping experience that not only provides digital fashion goods, but food and entertainment options too? That was entirely unexpected, and it is the changes that the consumer wouldn’t expect that could make all the difference for the future.
What advantages does the metaverse bring?
In terms of advantages, the metaverse brings many, as it translates the value of shopping and reachability, universally. Anyone can ‘tap’ in potentially. The reality offers brand values and principles across a wider stream of potential consumers, and with the added mood of technological attributes, it really can heighten the future longevity of fashion-sustainability included.
Fashion has long remained an artisans vision manifested in reality, and while the concepts remain the same when it comes to the digital space, the manifestation and manufacture isn’t environmentally costly, as clotheslines in reality. This is not to say clothing manufacture will stop altogether, but designers can really explore limited lines and things that perhaps may not be worn, and rather collected, as a digital asset instead.
This offers the opportunity for young and inexperienced designers to make a name for themselves too. With talks of a metaverse fashion award design show, fashion designers from all over the world can showcase their pieces without having to worry about models, casting and the associated venue space that comes with it. Fashion shows can be streamed on the Metaverse and showcased to the world.
While the concept of the metaverse and fashion future is very much intertwined with gaming principles, we do suspect that gaming and fashion will overlap a lot more than ever before. Custom lines for games like Fortnite and Balenciaga will be more of a regular occurrence. Making collectors pieces that are rare and desirable on the digital space is just as possible and has been experimented. Now it will be a case of allowing all the fashion ideas to keep flooding in.