decentralizationthe digital platform among the first to use the technology for Create your own metaversehosts first Metaverse Fashion Weekwhich he chose as his theme song MvFW. From March 24-27, the calendar includes events, fashion shows and shows by big names in the world of luxury, from Etro to Tommy Hilfiger, from Dolce & Gabbana to Hugo Boss.
Despite the apparent contradiction – who will pay for clothes and shoes that you can’t even touch – the market is growing day by day. According to his research Morgan Stanley rotation Virtual fashion could account for up to 10% of the luxury market in 2030equal to 50 billion dollars: the turnover to be conquered.
there Metaverse Fashion Week Born in a wave traditional fashion weeks (New York, Paris, Milan, etc.) and live on a decentralized web: existing contents and services do not exist on servers and platforms owned by individual companies, but are distributed homogeneously across the entire network, through the use of blockchain technology.
The Things being tested (including clothes, in this case) are Supported via NFT (Non-Fungible Tokens), which testifies to its uniqueness, and payments are possible thanks to cryptocurrencies. Fashion shows and events – including parties – are held on Decentraland, a platform based on the Ethereum blockchain, where members can, with their avatars, participate in events, but also buy and “wear” clothes in the virtual version.
This premiere container of fashion events organized specifically for the metaverse ride is in keeping with the trend it owns Watch fashion brandsover the past year and a half Private collections of NFTsAnd real estate investments and virtual interfaces and more generally Web projects 3. In the wake of a change that started about 10 years ago thanks to social media, the MvFW removes barriers to entry to shows and events Opening doors to all interested parties.
“The metaverse is a purely virtual world, and so far, we are in the real world and selling real products,” he said. Bernard ArnaultCEO, Luxury Group LVM extensionin a statement issued to Madame Le Figaro. If done correctly, it will probably have a file Positive impact on brand activities. But we are not interested in selling virtual sneakers for 10 euros.
The reference to the virtual sneakers immediately points to Gucci, but also to all of the other digital experiences the brands have really experienced thus far, underscoring how much of the metaverse is actually a goldmine. As proof of this, also consider Engagement engagement between Hermès and multi-faceted digital artist Mason Rothschildwhich was sued for possessing “fake bags” (according to the house’s claims), which the artist instead identified as his work (100 replicas) of ‘Meta Birkin: artwork in the form of NFTs, which only have the brand’s famous bags as their object.
and the leitmotif Among the many projects on the calendar are NFTsalthough some mesons (eg Etro And the Dolce Gabbana) to bring (exclusive) digital creations to the metaverse using the very dear fashion show format fashion week traditionalists. Philip Blainewhich recently invested 1.4 million to buy retail space in Decentraland, will participate in the MvFW with a small group (for a total of seven complete look) of virtual clothing and accessories, in limited series of ten pieces each, Their prices range from 1,500 to 15,000 euros. Around Wearable NFTthat is, wearable devices, which can be purchased by those who participate in the fashion show organized in Blaine Plaza. Followed by a post party, always default.
Sunday MvFW endsand for It will be time to evaluate their attendanceA: The amount invested in Digital Fashion Week and the amount raised is a rather simple calculation. But Metaverse As for fashion, it’s still a partially mystical thing to figure out. How is increased awareness of digital terms calculated? What will be the contribution of creators and influencers in the virtual world? And what repercussions in the physical world? All issues will be clarified by cm extensionAnd the This is itAnd the CCOAnd, of course, come on Executive Director.