Fashion labels and even fashion shows have evolved with time and have found their space in the metaverse. The entry of fashion into the virtual space offers new opportunities for brands to connect and engage with customers. Brands can now provide their customers with a truly unique experience and product.
According to information published by Apparel Resources – a media company that builds insightful reports and conducts surveys, the global market for metaverse is estimated at 194.4 billion USD in 2022 and is projected to reach 758.6 billion USD by 2026.
Metaverse platform Decentraland hosted the first MVFV (Metaverse Fashion Week) in March of 2022. Brands like Selfridges, Lanvin, Chanel, Bulova, Forever 21, Tommy Hilfiger, Dolce & Gabbana, and Etro, to list a few, participated in the virtual event. Over sixty established and upcoming fashion brands displayed their digital artwork, attires, and accessories.
With technology always progressing fashion, lifestyle brands on the blockchain still have a long way to go, and we are optimistic about the possibilities. Keeping this brief in mind, here are five fashion houses and their different ventures on Web3.
Louis Vuitton took a significant step in the metaverse to commemorate its 200th anniversary in 2021. ‘Louis the Game,’ a video game with an immersive 3D metaverse experience, was released by the French luxury brand. As a first-person game, players must journey as Vivienne to find 200 birthday candles across eight different worlds. Along the way, players can earn collectible NFTs as rewards. American artist Mike ‘Beeple’ Winkelmann created the thirty NFTs in the game.
At the time of writing, the game has over 100K downloads on the Google play store.
Balenciaga was among the first fashion houses to team up with the online game Fortnite. Their collaboration in 2021 included both in-game outfits and a physical apparel collection. The digital collection is available for the Fortnite characters Knight, Ramirez, Doggo, and Banshee’s wardrobes.
Balenciaga is also one of the first three fashion brands to collaborate with Meta on a digital fashion marketplace for avatars. Fashion houses Prada and Thom Browne are the other brands lined up to sell their digital clothing and accessories.
In 2021, American designer brand DKNY launched its first NFT. It was designed to capture the spirit of the brand’s home city, New York. As a charitable gesture, it was placed on auction in September 2021 with the net proceeds aiding the Americans Nurses Foundation.
DKNY also partnered with metaverse marketplace Renovi to launch a digital store during Decentraland Fashion Week. The brand plans to sell virtual goods such as clothing, footwear, home décor, furniture, cosmetics, wallets, and other items in the future.
With its numerous projects, the Italian fashion house Gucci continues to be ambitious in the metaverse. In 2021, Gucci teamed up with the metaverse platform Roblox to host a two-week event. The event displayed Gucci handbags, purses, hats, and sunglasses in the virtual edition of the Gucci Garden. It allowed collectors and gamers to purchase novelty items and other Gucci accessories.
Gucci also launched Gucci Town on Roblox as a place to learn more about the fashion house and its history, as well as current director Alessandro Michele’s creative vision.
In June 2022, Gucci and software development company SuperRare launched a crypto art gallery. It will exhibit the works of twenty-nine innovative artists.
Stepping away from the established fashion brands, the fifth entry on our list is the digital fashion house – DressX. Established in 2020, the brand creates clothing solely for online use and provides a variety of AR outfits from various fashion brands. In 2021, the brand partnered with the NFT marketplace Crypto.com to launch an NFT store as well as numerous NFT collections and single-piece releases.
In 2022, DressX also launched a collection of metaverse fashion wearables on Roblox, making it the first pure-play digital fashion brand. The brand also has its own NFT marketplace where you can view different apparel collections, purchase artwork, and participate in charitable auctions.
Download the DressX App on the Apple Store by Clicking Here