Metaverse has conquered the world. The ecosystem of the metaverse is taking everything under its umbrella, from games to real estate. Now, it seeks to break the barriers of imagination with new domains such as commerce, fashion shows, meetings and others, and is being called the place to meet and greet.
According to Emergen Research, the global metaverse is poised to hit $1,607.12 billion in 2030, and therefore all sectors want to grab the cake early and make the most of it. Last month another sector that tried to open a gap was fashion. Fueled by the growth that digital fashion has seen of late, it was only a matter of time before we had our digital fashion week.
Last month, the Metaverse hosted its own digital fashion week at Decentraland. The success of fashion week has several pundits predicting that the Metaverse could very well be the place where we could perhaps be the future of several top-tier fashion shows.
Also read: List of crypto billionaires: 5 new names that turned heads
A virtual pot of gold
With millions of gamers looking to buy accessories, clothing and skins for their games, virtual fashion shows could showcase specialized versions of such products and use them. Imagine a Ralph Lauren collection that grabs millions and can generate massive interest in a fashion show in the metaverse, which would be followed not only by the big names in fashion but also by related sectors.
With brands like Nike, Adidas, etc. already betting big on the growth and expansion of the Metaverse, the virtual world could define the way we see fashion.
From the customers’ perspective, they can dress up as models, avatars, or pose for photos in their special collections, etc. With a wide range of variety, such as work clothes, party clothes or vacation clothes, Metaverse allows you to dress up and get a first-hand look at what you would look like using augmented reality and even NFT.
Also read: From Weddings to Fashion Shows: Wacky Things Happening in the Crypto Metaverse
Virtual fashion is the future
Future brands and designers could bring their designs to life through computer programs and 3D animations. As the Metaverse bridges the gap between the physical and virtual worlds, a Morgan Stanley report estimated that the virtual fashion market could reach US$55 billion by 2030.
Decentraland Digital Fashion Week has shown us that there is a possible market for fashion in the Metaverse. Similarly, with NFT, one can have access to various designer stores once they set up their stores in the Metaverse.
In fact, on the first day of the digital fashion show at Decentraland, Selfridges launched their Metaverse store. The store showcased the future of Victor Vasarely’s work, and visitors were able to purchase their chosen outfits by paying NFT.
All in all, the day is not far off when digital fashion shows become a regular feature, and we could very well see it grow in the coming years. With each passing day, the Metaverse is growing and virtual fashion shows could be a new norm that takes the platform to a new level.
Risk Disclosure: Cryptocurrency trading involves high risks, including the risk of losing some or all of your investment amount, and may not be suitable for all investors. Cryptocurrency prices are extremely volatile and can be affected by external factors such as financial, regulatory or political events. The laws that apply to crypto products (and how a particular crypto product is regulated) are subject to change. Before deciding to trade financial instruments or cryptocurrencies, you should be fully informed of the risks and costs associated with trading in the financial markets, carefully consider your investment objectives, level of experience and risk appetite, and seek professional advice when necessary. necessary. Kalkine Media cannot and does not represent or warrant that the information or data available here is accurate, reliable, current, complete, or appropriate for your needs. Kalkine Media will not accept liability for any loss or damage resulting from your dealing with or your reliance on information shared on this website.