The metaverse is a virtual universe that combines digital technologies such as video conferencing, games, cryptocurrencies, email, virtual reality, social media, and live streaming. It's unclear how these pieces will ultimately fit together, but some tech titans already see it as the future of human communication and interaction.
It might be easier to understand the concept if we start with what it isn't: it's not a single product, it's not a game, and it's not created by a single company. It's more like a 3D world wide web, with immersive and interoperable business, information, and communication tools. In some ways, it's a digital representation of how we live in the real world. Items in the metaverse should be able to move across an ecosystem of competing products, just as you might create a document in Microsoft Word and send it via Gmail to a colleague to read on an iPad.
The new platform might represent a technical leap forward, comparable to how the web evolved in the 1990s from static text and photos on a page to a place to buy a book or watch a movie, and then into a method to attend college lectures and collaborate on product design.
As usual, the fashion world is very much ahead of the game, which is why it is not surprising that we are now hearing about the Metaverse Fashion Week.
After Paris, Milan, New York, London, now Decentraland is the new big fashion hotspot. The Metaverse Fashion Week took place with catwalk shows, after-parties, immersive experiences, shopping, panel discussions, and more between March 24 and 27.
#MVFW22 is a landmark event in the worldwide fashion business, with 60+ participating brands, artists, and designers. During the exciting week, a mix of legacy luxury fashion and digital-native businesses displayed their highly anticipated wearable collections, digital spaces, and game-changing activations. Estée Lauder, Dolce & Gabbana, Forever 21, and other brands participated in the virtual fashion experience. Many spent countless hours claiming metaverse-ready trademarks in what appears to be a preemptive brand protection plan ahead of their NFT debuts. With the rise of digital goods and metaverse shopping experiences, Decentraland's Fashion Week aimed to offer a space for people to express themselves and improve their awareness of their own identities through wearables on their avatars, according to Decentraland's Creative Director, Sam Hamilton. According to Hamilton, for some labels, it was an opportunity for R&D; for others, a chance to enter the crypto market by selling metaverse clothes. However, not all companies in the industry promoted their products as NFTs; some just displayed digital representations of their designs.
There have been digital-only fashion shows in the past, but the four-day event was one of the most high-profile initiatives to unite major businesses around - or inside - the concept of the metaverse, a virtual world where people can connect, work, and buy. In the spirit of providing a complete experience, Grimes performed with Auroboros as part of the schedule.
As for the future, according to Giovanna Casimiro, head of Metaverse Fashion Week and head of community and events at Decentraland Foundation, Metaverse Fashion Week could take place on other virtual platforms as well.
With the growing popularity of the metaverse, the digital fashion business is transforming into a worldwide empire, incorporating both huge luxury labels and retail consumers - it's undeniable that the concept is a goldmine.
There are still many unanswered questions: Will metaverse executives push fashion to the general public, and how will brands react? Will there be meta-stores, or will all garments be available with a single click? How will it deal with counterfeits, and will brands band together to form something larger?
So far, there are more questions than answers, but we are clearly on the cusp of a new and exciting business in which everyone is interested.
Fraquoh and Franchomme
Further reading:
Blockchain: The New Fashion Trend How Blockchain and Cryptocurrencies are Changing the Fabric of Fashion Signs from the Future: Key Focus Areas for FashiontechP.S. We want to hear from you! What do you think of the Metaverse Fashion Week? What will digital fashion be like? Did you take part in the event? Share your feedback, questions or thoughts in the comments below! For more articles on style, fashion tips and cultural insights, you can subscribe to Attire Club via email or follow us on Facebook, Twitter or Instagram!
