The Metaverse Could Radically Revolutionize The Glob-al Fashion Industry

The Metaverse is not just a unique product of Web3 but it is gradually becoming an essential for many. All over the world, from celebrities and artists to clothing and fashion brands, this new world has got a lot of potential. In this immersive virtual environment, everything is possible and fashion also has no exception at all.

Among the industry’s top enthusiasts, Scarlett Yang who is a renowned artist based in London has shaken the world of fashion. With material tactility and digital realities, Yang is on a journey to revolu-tionize fashion designing. Her futuristic artwork has no exception when it comes to representing the real potential of the Metaverse with respect to fashion.

The Metaverse and The Fashion Industry

It is quite obvious that people from the Gen Z spend more time online and less in the conventional markets. They use to shop from online stores which has made it possible to introduce the new con-cept of virtual fashion.

Fashion is undoubtedly considered a rapidly growing frontier within the Metaverse. This hyper-interactive and immersive world is full of new ideas and concepts where top fashion brands, celebri-ties, and influencers have made an exceptional vertical.

It is understood that users of the Metaverse can work, play, eat, and entertain in a fully virtual envi-ronment but to do so, they also need skins, avatars, costumes, and much more that are all covered under the banner of virtual fashion.

In order to draw a better idea of how fast things are moving within the Metaverse Fashion space, let us take a look at this list of top 10 brands that are aggressively penetrating the Metaverse Fashion in-dustry:

Gucci: Since 1921, Gucci has evolved as one of the world’s most sophisticated and exclusive fashion brand. It has countless customers and fans on a global scale and is penetrating rapidly into the Metaverse fashion space. The brand has recently launched The Gucci Vault Discord which clearly high-lights their eagerness to enter into this new market.

Louis Vuitton: Here is another famous and exclusive fashion brand that is making rounds within the Metaverse fashion space.  The brand is heavily interested to step into this new world and launched a mobile game named “Louis the Game” which includes more than 30 NFTs and represents the found-er’s entire journey.

Balenciaga: Balenciaga stands among few of the world’s most famous luxury fashion brands and it is also struggling at its best to enter the Metaverse fashion space. It is known as the first fashion brand partner for Fortnite which is the world’s most famous and top trending VR game by Epic games.

Nike: As discussed earlier in this post, Nike which is the No.1 sports clothing, accessories, and equip-ment brand in the world is also progressing faster in the Metaverse fashion space. Nike acquired RTKFT, which is a famous sneaker brand to launch its unique range of virtual sneakers.

Burberry: Along with other top brands, Burberry has also got unique goals with respect to the Metaverse fashion space. The brand has partnered with Mythical Games for its first NFT project named “Blankos Block Party”.

Givenchy: The brand is widely known for its exclusive range of clothing and perfumes globally. Now it is making swift progress within the Metaverse fashion space as it has collaborated with Chito which is a famous digital artist to launch a series of 15 NFTs auctioned on Polygon platform.

JW Anderson: Just like other top fashion brands, this British fashion house is also making unbelievable progress within the Metaverse fashion industry. The brand launched its first NFT last year in Decem-ber. It is a Colourblock Patchwork Cardigan, considered an exclusive piece from its well-known “Harry Styles” collection.

Tommy Hilfiger: This American fashion brand needs no introduction when it comes to the global fash-ion industry. The brand was identified venturing into the Metaverse by collaborating with Nintendo on publishing its new simulation game “Animal Crossing New Horizons”.

Dolce and Gabbana: D&G which is also one of the most famous fashion brands is also on the verge to enter into the Metaverse space. The brand partnered with UNXD, which is a Conde Nast affiliate that has huge interest in the NFT and Web3 domain on a global scale.

Dior: Lastly, Dior also stands in the list of top fashion brands that are aggressively entering into the Metaverse space. It has collaborated with “Ready Player Me”, which is a metaverse avatar platform.

Fashion Is Moving into the Metaverse

In the Metaverse, not only some renowned brands but most of the users are also interested in virtual clothing and accessories. Let us talk about Nike’s initiative to launch its whole new series of sneakers in the Metaverse.

In a world where top celebrities and famous people are buying their virtual lands and making man-sions, the need for having branded and sophisticated virtual clothing and accessories is quite evident. In addition to that, Paris Hilton another renowned celebrity has partnered with Boohoo which is a fa-mous fashion brand to promote Paris Hilton’s virtual fashion week.

According to McKinsey’s latest industry report “The State of Fashion 2022”, discusses the role of non-fungible tokens (NFTs), virtual gaming, and virtual fashion in 2022.  The report highlights the tough time that the fashion industry experienced during the Pandemic and concludes that the Metaverse has now opened a new gateway for the industry stakeholders to build new foundations.

According to the report, there are certain important elements that are expected to become the major driving force of the global fashion industry in 2022. These include several aspects but the most note-worthy and unique ones are Metaverse Mindset, Social Shopping, Virtual Gaming, and Cyber Resili-ence.

The report also highlights that the Pandemic left the entire fashion industry with severe repercussions but now is the time for the industry stakeholders to evolve again and in a whole new environment of digital marketplaces where the Metaverse is worth mentioning.

What to Wear in the Metaverse?

Depending upon the nature of the use cases of fashion and accessories in the Metaverse, there are several things to mention. The most common usability is all about having unique and custom costumes that people can use in the Metaverse space. These items are launched by famous fashion brands as mentioned above in this post. People have different options to choose from depending upon their unique demographics like age, gender, profession, race, color, and other key attributes.

Along with that, there are some virtual game companies that have partnered with top fashion brands who provide them with unique clothing and accessories for the in-game characters. In addition to that, fashion weeks are also going to be organized within the Metaverse fashion industry making it a whole new and similar world just like the conventional industry that we have in real life.