Digital Fashion Is Taking The Metaverse By Storm
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The fashion industry is accelerating its digital transformation by moving into blockchain and the metaverse. A recent report from the investment bank Morgan Stanley shows that digital demand for fashion products could generate around $50 billion in global sales by 2030. Clearly, the metaverse presents an extremely big opportunity for fashion brands, and they're responding in a number of innovative ways.
One of the smartest ideas we've seen so far involves bringing fashion into the world of metaverse games. Within the gaming world, brands have exhibited their latest trends and collections to new audiences, creating immersive experiences and digital events such as fashion shows.
An early adopter was Gucci, which partnered with the hugely popular Roblox platform in 2021 to create a virtual world known as the Gucci Garden. Gucci was smart enough to realize that entering the metaverse means marketing fashion to a new demographic - a world of social gaming where players represent themselves through avatars, which presents an entirely new audience for designers to cater too. These gamers are already fully immersed in the metaverse and their avatars mirror their personality, making them a great target for any brand.
A similar initiative was launched by Balenciaga, which collaborated with Fortnite to create an authentic line of player's "skins" that could be purchased directly and worn as avatars. These skins were also advertised on 3D billboards within the game itself, creating additional exposure for the brand within Fortnite's immense virtual world.
Elsewhere in the metaverse, we've
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