Enter the Metaverse.
As we get deeper into 2022, it’s clear that fashion brands are already thinking about the future. Investors are predicting where fashion’s future is and the dial is pointing towards Web3. With untapped opportunities, week by week, the number of fashion brands who are venturing into the world of the Metaverse and Web3 is steadily increasing. Brands like Tommy Hilfiger, Paco Rabanne and Dolce & Gabbana have even taken to the Decentraland hosted Metaverse Fashion Week to showcase collections designed for the digital world.
As technology transforms everything from our currency to how we interact with the world, the fashion industry is quickly adapting to these changes. Through the use of web3 fashion ecosystems that include non-fungible tokens, decentralised autonomous organisations and avatar skins, fashion makers are diversifying their offerings.
The future of fashion is the Metaverse, and this is how some of fashion’s luxury brands are getting into the mix.
Photo credit: Balenciaga x Fortnite
As one of the world’s most popular luxury fashion brands, Louis Vuitton sits in a rare class of fashion makers. As a result, the French fashion house needs to stay ahead of the zeitgeist. Looking to tap into a more millennial generation of shoppers, the LVMH-owned brand ventured into gamification as it released a mobile game titled LOUIS THE GAME. Celebrating the brand’s 200th birthday, LOUIS THE GAME featured the fashion house’s mascot Vivienne as an in-game virtual avatar whose mission is to make her way through the brand’s long history while collecting NFTs along the way. The game also featured 30 NFTs that were created in collaboration with famed NFT artist Beeple.
Always ahead of the game, if there was a brand that was planning to be all-in on anything Web3 or Metaverse, it would be Demna and Balenciaga. Constantly reinventing what it means to be a luxury brand in 2022, the French luxury fashion house has made it clear that it has every intention of building something in the Metaverse (they have a rumoured dedicated Metaverse team). The Kering-owned brand has collaborated with Fortnite for a series of in-game wearable skins as well as dropping a Fortnite-inspired apparel collection in real life, and recently was one of the brands to partner with Meta’s digital avatar store.
Dolce & Gabbana
Releasing a bespoke collection of twenty wearables created specifically for the Metaverse Fashion Week hosted by Decentraland, Dolce & Gabbana made its intentions for the Metaverse clear. Although often shrouded in controversy, Dolce & Gabbana are heralded for their creativity and innovation, and the Italian luxury brand launched DGFamily which serves as an exclusive NFT community allowing members to get their hands on exclusive drops both in the Metaverse and in reality. An iconic luxury fashion brand, D&D’s foray into the Metaverse is a sign of the brand’s commitment to the future of fashion, as it now offers a comprehensive ecosystem of benefits for its patrons.
The global fashion industry is investing all-in on the Metaverse and Web3, and as the industry’s premier brands get creative and innovative with NFTs, in-game wearables, digital tickets and collaborations with tech companies, it’s only a matter of time until we see others follow suit.