The fashion industry has never stopped attracting because personal expression is important to the fashion world, especially for young consumers. Now, they have been raised to a new level as "virtual fashion" or simply fashion in Metaverse.

High fashion brands that have been preparing for the next step of technology called Metaverse fashion for many years such as Gucci, Burberry, Balenciaga, Louis Vuitton, Nike, etc., and believe that it is a big gold mine to exploit.

What is Metaverse Fashion?

First, we need to understand what is Metaverse.

The metaverse is a virtual world that exists parallel to the real world. Helping users immerse themselves in vast 3D spaces through activities, connecting and interacting with each other like a real-world society without language or geographic restrictions.

Metaverse fashion is simply understood as virtual fashion used for the virtual world. These are online activities such as learning, shows, meetings, product launch events, etc. And along with the increase in demand for virtual costumes, the boom of Metaverse fashion. officially started.

Robert Triefus - Marketing Director of Gucci shared: "There will be more and more 'second worlds' where we express ourselves with virtual products and personalities."

Metaverse - The Era Of Digital Fashion

Over the past few years, Metaverse has seen a series of invasions of fashion activism. Fashion brands are seizing the opportunity to immerse themselves in the virtual world while focusing on immersive virtual experiences and digital collections.

Even a big brand like Gucci has started to notice the fertility of the land in the Metaverse. As reported by Vogue, Gucci purchased real estate on The Sandbox. This also means that Gucci will provide "virtual fashion" products to users - and here none other than Sandbox players to use.

At the end of 2020, Gucci also announced a partnership with Genies - a studio that helps the brand produce quality NFTs in the future.

Or recently, Gucci has a new miniature world on Roblox - an online game platform that allows users to create games for the system - through two titles, Gucci Garden and Gucci Town. At Roblox, the Italian fashion house sold Dionysus bags for 350,000 Roblox, which is $4,000 more than the real-life version for $3,400.

According to data provided by Roblox, Gucci's two-week experience with this game has attracted about 20 million interest. Along with that are hundreds of thousands of Roblox users who have purchased many items.

For a long time in the world of online games, the community of users, usually young people, although they do not have too strict fashion needs on social networks or in real life, still have a desire to impress. with expensive "skins" for the avatar, to show the "playability" with other gamers.

Louis Vuitton is a pioneer in establishing the relationship between games and the gaming industry.

In 2021, it is Balenciaga's turn to also enter this field, starting with the Fall 2021 collection released as a game called Afterworld.

The brand then teamed up with Fortnite to launch an in-game Fit fashion collection, which includes a number of designs that are available for purchase in real life like the Doggo hoodie.

In August 2021, the Burberry brand also brought a “limited” collection of limited edition NFTs to a massively multiplayer online game. It was Mythical Games' Blankos Block Party and the products sold for a total of about $375,000.

Ralph Lauren also quickly tested his first "skins" collections through games on the NFT platform and obtained extremely positive results.

Decentraland just held the world's largest metaverse fashion week with the participation of a range of high-end brands, from Dolce & Gabbana to Jacob.

The virtual platform on Decentraland's Fashion District was recently sold for $2.4 million, and according to Market Insider, the supermarket digital fashion business is estimated to be worth $1 trillion annually.

Why Is Virtual Fashion Attractive?

The Endless Potential of the Metaverse

Metaverse is now becoming the new territory the fashion industry is trying to enter. The Metaverse market is estimated to reach $800 billion within the next 4 years.

Although it has not really exploded, this "virtual fashion" has shown great potential through impressive numbers of revenue from projects of major fashion brands when it first set foot in the market. into this "gold mine".

Creative form of marketing

Thanks to Metaverse, high-end brands can differentiate themselves by experimenting with a more creative form of marketing to engage young people through hit video games and generate substantial revenue.

Express yourself

Metaverse gradually becomes a fertile land to exploit resources and also a place where "fashion followers" are actively asserting their existence. From street brands to luxury fashion houses, they all push money and brains into outfits you can't touch.

Through the NFT (Non-fungible Token) platform - a technology that allows users to own assets in the virtual world, fashion brands can earn great profits as well as fashionistas. himself by proving his ownership of luxury items in the world of Metaverse.

In addition, the virtual world offers a more equal footing in the field of haute couture. And that makes many users excited. Besides, the production of products for Metaverse fashion also avoids the problem of inventory - a painful problem of the garment industry so far.

The Future Of Digital Fashion

Metaverse has now become the new territory that the apparel industry is looking to enter. It's not a superficial "trend catcher" but completely a conspiracy to disrupt the billion-dollar industry.

The Metaverse market is estimated to reach $800 billion within the next 4 years, with the rapid development of the technology platform and the progress that fashion brands are promoting. We can fully expect the exciting experiences that Metaverse fashion can bring soon.

Thanks for reading!