Metaverse has taken the world by storm. The metaverse ecosystem is taking everything under its umbrella, from gaming to real estate. It is now trying to break through the barriers of the imagination with new domains, such as commerce, fashion shows, meetings and others, and has been dubbed the meeting and greeting place.
According to Emergen Research, the global Metaverse is poised to hit $ 1,607.12 billion in 2030, and therefore, every industry wants to grab the pie early and make the most of it. Another sector that tried to break through last month was fashion. Backed by the growth that digital fashion has seen in recent times, it was only a matter of time before we had our digital fashion week.
Last month, Metaverse hosted its digital fashion week on Decentraland. The success of the fashion week made several experts predict that Metaverse could be the place where we could possibly be the future of several fashion shows.
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A virtual pot of gold
With millions of players looking to purchase accessories, clothing and skins for their games, virtual fashion shows could showcase specialized versions of those products and use them. Imagine a Ralph Lauren collection that monopolizes millions and that is capable of garnering tremendous interest in a fashion show on the metaverse, which would be followed not only by fashion biggies but also by related sectors.
With brands like Nike, Adidas, etc., already betting heavily on the growth and expansion of the Metaverse, the virtual world could define how we look at fashion.
From the customers’ point of view, they can dress up as models, avatars or pose for photos in your special collections, etc. With a wide range of varieties, such as business, party, or holiday attire, Metaverse lets you dress up and dress up a first-hand look at what you would look like using augmented reality and even NFTs.
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Virtual fashion is the future
Future brands and designers could bring their designs to life through computer programs and 3D animations. As Metaverse narrows the gap between the physical world and the virtual world, a report by Morgan Stanley estimated that the virtual fashion market could grow to $ 55 billion by 2030.
Decentraland’s digital fashion week showed us that there is a possible market for fashion on Metaverse. Similarly, with NFTs, one can have access to different designer stores once they have opened their stores in the Metaverse.
In fact, the first day of the digital show on Decentraland saw Selfridges launch their store on Metaverse. The shop showed the future of Victor Vasarely’s work and visitors were able to purchase their chosen clothes by paying NFT.
All in all, that day is not far off that digital fashion shows will become a regular feature and we may very well see it grow over many years in the next few years. With each passing day, Metaverse is growing and virtual fashion shows could be a new norm that takes the platform to a new level.
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