Since Facebook turned to Meta holding hands with Apple and Microsoft making advancements in technology, Metaverse is gaining momentum like never before. Metaverse has the ability to create and shape a new virtual world for the future. Metaverse renders a 3D virtual reality universe where users from all over the world are available at the same moment. With a real-life explanation, metaverse allows users to experience their 2D experiences by including online purchasing through smartphones and computers in a completely 3D world. In a nutshell, digital technology allows people to purchase through 2D devices like computers and phones.
In this blog, we will discuss how the metaverse is playing a major role in reshaping the fashion industry. Let’s take a look at the distinct aspects of the metaverse comprising Virtual Reality (VR), Augmented reality (AR), and blockchain that creates cryptocurrencies and NFTs.
Why metaverse for fashion industry?
Metaverse story initiates from virtual reality that offers near to reality experience by producing a simulated environment. Metaverse utilizing canvas of AR in addition to 3D capabilities has the capability to create human avatars. These avatars can interact with each other in the metaverse world. In such a world, businesses can well perform via which people can buy virtual lands, carry out shopping, and perform other financial transactions. In order to benefit transactions, NFTs are available for authenticating the ownership of digital assets. They are highly secure and encrypted making them the best adaptable technology for the modern fashion industry.
As a distinctive technology, metaverse has many features and benefits for fashion brands. With the incorporation of such modern technology, fashion brands can stay ahead of the competition. It will add new dimensions to the functionality of the fashion business. As 3D avatars and NFTs become popular tools for metaverse fashion designers, brands are implementing digitization. With the digital presence of brands selling cloth online in the real world, companies selling clothes that can be actively worn in the digital world can take fashion to a distinct level.
As the newest generation is glued to gaming, it can serve as a powerful medium to reach and fashion brands to utilize the gaming world as a growing ad and interacting medium. For this fashion-conscious generation, game avatars wearing branded accessories and outfits are grander than in shops. As per the latest statistics, it has been seen that the metaverse is getting involved in people’s daily lives. The world is witnessing the commercial requirements of the fashion metaverse recently. The localization of avatars in specific communities is helping brands establish connections with them.
Recent developments in fashion metaverse
Nowadays, the fashion industry’s digital transformation as well as the adaption of fashion in the digital world is allowing brands to utilize NFTs and blockchain technology for grabbing the attention of customers from around the globe. For instance, such applications can be visible from French Fashion Week and Haute Couture Federation partnering with the ‘Arianee’ platform for developing NFTs. These are the various tokens that would allow its users to view exclusive fashion.
More than 50% of US consumers have expressed their interest in buying digital assets in the next 6 months. As metaverse are growing rapidly, they will reach a height in the subsequent years. It is paving way for new opportunities for brands to engage with the younger generation that are future-ready, tech-savvy and relevant to the fashion industry. Therefore, Metaverse fashion can be prominently observed in designers, luxury brands and the fashion arena.
How brands collaborated with metaverse?
The massive Italian luxury brand Gucci experimented with NFT by launching its NFT-based product. The creative director Alessandro Michele and director Floria Sigismondi created a short film ‘Aria’ using technology.
Among the luxury brands, Roblox remained in high demand with the launch of ‘The Ralph Lauren Winter Escape’ game in partnership with American Ralph Lauren. The game comprises an amazing gender-neutral digital clothing collection having 8 winter sportswear looks for players to try on and buy them.
In November 2020, UK brand Burberry coordinated with Tencent Game and produced designs for the popular Chinese battle game online ‘Honor of Kings’. The attires and outfits are designed by Riccardo Tisci leading to the well-defined connection of the brand with local Chinese customers. As the top metaverse development company, we have a dedicated group of metaverse developers having several years of knowledge in creating top metaverse platforms for businesses.
Unveiling a balanced perspective
Metaverse is capable of involving technologies that would need ample data transmission at a higher speed. Thereby, this data requires storing and processing for more advanced IT infrastructure creating more power consumption and unveiling other social concerns. As the metaverse continue to gain more powers in addition to the combination of improved and advanced technologies, it will develop enhanced personalized worlds.
Wrapping up: digital fashion
As a bright and revolutionary technology, metaverse has become a game changer in the fashion world. A world with digital fashion is astonishing and gaining relevance in recent times. Several technical concepts like blockchain, AI, cryptocurrency and NFT will expand organically. As it helps to enhance the digital world to a different phase where it brings new production and consumption process, it will accelerate the transformation of new production and consumption process. With more consumers spending time online, the hype around metaverse will continue to rule in the virtual world. Do you want to create a metaverse solution for the fashion business? As the leading metaverse development company, Nextbrain offers complete metaverse solutions that are highly scalable and effective for businesses, startups and brands. Connect with experienced professionals to know more about metaverse development.
Saran
July 14, 2022 Author