Fashion and lifestyle companies that take pride in their ability to innovate are looking to the high point of futurism, the metaverse, to expand their product lines and expand their customer bases. The music, art, and fashion sectors are migrating to the virtual world in order to increase their visibility, widen their impact, and broaden their income streams as the digital environment continues to evolve at a breakneck speed.
Through the use of augmented and virtual reality, individuals may immerse themselves in an alternative world where they can interact with others, play games, and see things through the eyes of their digital avatar. In the fashion business, there have been many occasions when the metaverse has been exploited to benefit this industry, here are some relevant examples:
- Adidas for Prada Resource: This effort depended on a communal audience to supply one-of-a-kind anonymous photographs, among which 3,000 were minted as NFTs and assembled into a single mass-patchwork NFT created by famous digital artist Zach Lieberman.
- NFTs and Manish Malhotra: When Manish Malhotra launched his digitized collection a couple of months ago, he chose the NFT approach to do it. He released five NFTs, all of which were picked up in seconds.
- Gucci purchases a plot of land in the metaverse: Gucci, the luxury fashion house, has bought real estate on The Sandbox, a worldwide platform. Users will have the opportunity to engage in further one-of-a-kind digital fashion events presented by the massive NFT marketplace. The label, on the other hand, has been mum on the specifics of what these projects will be about. NFTs are unique digital assets whose ownership is recorded on a blockchain and which are used to make payments. Paintings, music, art, or videos may all be used as NFT tokens, with every token being distinct. More brands are expected to buy metaverse land in the future.
