The emergence of the metaverse is bringing together tech and fashion, two sectors of the economy that have rarely, if ever, worked together.
Imagine. When you first get out of bed, you grab your phone and choose what to wear. Which pair of pants covered in neon lightning flashes will it be? Or the minidress with a glass-like texture? Do you also need shoes? How about a pair of Nike Dunk Genesis Cryptokicks? With the growing popularity of the Metaverse, the digitalization of the fashion industry is unavoidable, but progress in technology is still needed for it to take off.
As unbelievable as it may seem, digital fashion has advanced to the point where it now requires its own fashion week, complete with all the events that go along with it, such as public talks, parties with real DJs, shows and presentations of new collections. March 23–27 saw the debut of the first-ever digital fashion week in Decentraland, a decentralized virtual social network built on the Ethereum blockchain. It may not be the reality for now, digital fashion is here to stay.
Fashion of Tomorrow
Due to store closings and work from home policies, fashion consumption has declined over the last two years. This forced players in the fashion industry to shift to online channels in order to maintain their businesses and place orders. To reach end consumers, they even shifted to virtual exhibitions and shows. They were able to get through the trying times thanks to the move. They are now investing in a variety of emerging technologies as a result, which has increased their dependence on digitization. Fashion’s entrenchment in the metaverse will be one of its unavoidable outcomes as this only picks up speed in the upcoming years.
Arrival of the Metaverse in Fashion
Fashion brands can benefit from and have access to additional opportunities thanks to the metaverse, a cutting-edge technology. Fashion brands can easily stand out from the competition by acquiring such revolutionary technology. They will undoubtedly be put in place “ahead of time.”
Brands will add new dimensions to their core competencies, such as marketing, communication, public relations, and product development, as is the case with the possession of any new technology. The fact that 3D avatars and NFTs are emerging as new marketing and promotional tools for the fashion industry is proof of this. Digital fashion will be more in demand as brands adopt greater digitisation, making products in the digital environment unique.
Companies selling clothes that can only be worn in the digital world will also take fashion to a new level, in addition to the digital presence of brands selling clothing in the real world. In parallel, it is anticipated that as the metaverse becomes more integrated into peoples’ daily lives, clothing will become more significant in both the physical and virtual worlds.
Cryptocurrencies are growing in popularity as an alternative transaction medium, and they will be able to meet the commercial needs of the fashion metaverse. In fact, brands have already started incorporating NFTs into their online clothing. The younger generation, which is the main fashion market and exhibits a sharp inclination and an urge to experiment with every new technology, is the target market that metaverse will specifically appeal to.
Gaming has a sizable portion of this generation hooked, making it an effective way to connect with them. This has prompted fashion companies to use the gaming industry as a growing platform for advertising and communication in order to participate in the gaming culture of the next generation.
There are countless options available, not just online. The whole thing turns into a feedback loop as seasoned designers venture into the metaverse and virtual creators dabble in the physical world. Therefore, one day you might see cSapphire’s products strutting down a runway close to you.