Etro, Tommy Hilfiger, Perry Ellis, and more getting into the Metaverse world!
“Style over substance” is a label of the cyberpunk subculture, from which the concept of the virtual reality metaverse was derived. One might first think not of fads but of the highly computerized core cryptocurrency community, but a little glance at the relevant media would quickly disprove this claim. From the iconic sunglasses and windbreaker outfits from The Matrix, to the unique outfit combinations in NFT series like The Boring Ape, the message is clear: What’s good about having a metaverse character if it doesn’t look so cool significance?
The popularity of skins and cosmetic items in video games is a testament to consumers’ willingness to spend money on digital gear. Just like in real life, people love to have their digital avatars don their favorite fashion brands.
High tech fashion
The digital realm of the Metaverse has hosted online events for some forward-thinking fashion brand events. The inaugural Metaverse Fashion Week was one of them, attracting an impressive number of top fashion names such as: Etro, Tommy Hilfiger, Perry Ellis, D&G, Elie Saab, Hogan, Dundas, Imitation of Christ, Nicholas Kirkwood and Estée Lauder.
In the real world, a range of brands like Philipp Plein, Gucci, Off-White and Balenciaga are already available for specific cryptocurrencies, while online aesthetics such as high-tech glasses, platform shoes and Matrix chic have returned. to the T stage.
Copyright, Justice and Competition
Web3 is coming; it’s all just a matter of time. As the Metaverse evolves, brands are under pressure to develop further, and they must establish their presence or risk being eliminated by independent creators. Take, for example, the recent controversy between digital artist Mason Rothschild and Hermès: the former created the Hermès-based MetaBirkin fur bag NFT collection. Rothschild’s NFT highlights the treasured animal fur used by Hermès, an issue that has long been debated in the world of high fashion. Hermès claims that MetaBirkin is profiting from its intellectual property, but this criticism is untenable: unlike the usual knock-off fashion products, digital images are a vehicle for artists to express and criticize.
Of course, Hermès may not be satisfied with the development of this digital space, but it does teach fashion brands a lesson. If they want to control the way their brands are displayed before being spoofed, they should enter the metaworld as soon as possible.
But even in this seemingly unfavorable scenario, Hermès’ business could benefit from MetaBirkin’s influence, as techies who buy digital bags are likely to buy real bags too. More forward-thinking fashion brands will choose to either find a foothold in the metaverse or collaborate with modern digital artists.
NFTs: Bridging the gap between virtual and reality
Cryptocurrencies and NFTs offer fashion brands and fashion consumers a whole new way to showcase their interests in both the metaverse and real life. Non-Fungible Tokens (NFTs) provide the exclusivity and exclusivity essential to “luxury”, sometimes with additional perks such as club memberships and access to special events. Fashion is a way of expressing belonging to a group, and blockchain can be a tool to digitize it. NFTs can also be traded and resold by creating a luxury marketplace based on designer products and artwork.
Fashion brands’ use of NFTs and crypto products is inspired by the popular “loot box” mechanic in the video game industry. For example, high-end jeweler Tiffany has launched TiffCoin, a limited supply of 499 pieces priced at 30 ether (ETH), for the first buyers. Each token is a “surprise blind box” that provides access to exclusive brand events. Dolce & Gabbana (D&G) has gone a step further and launched three levels of NFT digital boxes: black, gold and platinum, allowing you to choose both physical and digital items, as well as getting invitations to metaverse and real-world events. Of course, the more expensive the box, the more advanced the rewards offered.
Dolce & Gabbana (D&G) can actually be said to be one of the savvy brands active in the metaverse, showing the potential of the virtual world by releasing digital clothing for cats and avatar clothing with special graphics effects.
Trade cryptocurrencies and get into high society
So, what does the influx of fashionistas mean for cryptocurrency traders? First, one should look at which metaworld platforms are attracting investment from big brands, such as: Decentraland (MANA) and its fashion week events. Second, since most NFTs are based on the world’s second-largest cryptocurrency by market capitalization, ether (ETH), their performance also requires special attention. Finally, keep an eye on which cryptocurrencies are accepted by fashion brands as payment methods, as similar use cases may affect the value of cryptocurrencies.
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