Welcome to the world of fashion in the metaverse! As the trend shifts towards this exciting new realm, fashion brands are quickly adapting to stay ahead of the curve. One way they’re doing so is by releasing branded NFTs with unique utilities, including some that offer exclusive physical rewards and discounts. But that’s not all – fashion brands are also taking their digital presence to the next level by creating virtual twins of their products and even opening virtual stores on the metaverse for customers to explore. Join us as we dive into the innovative ways fashion brands are embracing the metaverse and revolutionizing the industry.
Luxury Fashion Brands in the Metaverse
Are you ready to explore the intersection of luxury fashion and cutting-edge technology? Look no further than the metaverse, where top fashion brands are harnessing the power of virtual development services to create unforgettable experiences for their customers. Here are the top 10 luxury fashion brands leading the way in the metaverse:
1. Nike
In 2022, RTFKT, a digital design studio, was acquired by Nike, resulting in a quarter of the total brand’s revenue coming from Nike Digital, which manages the metaverse operations. Nike made a remarkable entry into the metaverse space with $185 million in NF sales and the launch of a collection of 20,000 NFTs called Cryptokicks. These NFT sneakers, designed by Japanese contemporary artist Takashi Murakami, were in high demand, with a single pair selling for $130,000. Nike also partnered with Roblox to create Nikeland, a virtual replica of the company’s real-life headquarters, buildings, and arenas, which attracted 21 million users. In addition, Nike opened a virtual store in the metaverse, featuring classic products like Air Force 1, ACG, Nike Tech Pack, and Nike Blazer.
2. Gucci
Gucci has established itself as a leader not only in the fashion world but also in the metaverse. The luxury Italian brand broke new ground in the NFT space with a film inspired by its Aria collection and then teamed up with Roblox to launch a digital experience called Gucci Garden, where users could explore immersive themed rooms and even purchase Gucci NFTs to wear in the game. Gucci’s virtual version of its iconic Dionysus bag sold for a record-breaking $4,115, surpassing the real-world counterpart. Gucci has also collaborated with toy maker Superplastic and the narrative NFT project 10KTF, signaling its intention to expand further into the metaverse and gaming world.
3. LV
Louis Vuitton, the French fashion house, launched a metaverse mobile game called “Louis The Game” in partnership with Beeple to mark the founder’s 200th birth anniversary. The narrative story game takes players through seven virtual worlds representing the seven fashion capitals, with a chance to win exclusive NFTs. The game also allows players to customize their avatars with a variety of LV prints, attracting 2 million players. Unlike other brands selling NFTs, Louis Vuitton’s NFTs are not intended for open-market sales but as part of an educational and fun experience for customers.
4. Adidas
Adidas, the sportswear brand, partnered with BAYC and Gmoney in December 2021 to release its NFT collection of 30,000 NFTs that come with virtual wearables for use in The Sandbox. In a unique twist, Adidas also offers buyers a physical piece of clothing, like a tracksuit, hoodie, or signature orange beanie worn by Gmoney. All digital assets are secured by the crypto exchange Coinbase. This move is part of Adidas Originals’ expansion into the sportswear lifestyle space, appealing to fans of both virtual and physical fashion.
5. PRADA
Prada and Adidas Originals have teamed up to create an innovative project that has caused a stir in the virtual realm. The Adidas for Prada Re-Source limited edition NFT collection is a groundbreaking collaboration that challenges traditional fashion by bringing together 3000 individuals from the fashion, design, and crypto industries. These talented participants were given the task of creating unique NFT tiles that would be combined into one NFT world by the brilliant digital artist Zach Lieberman.
The end result is a remarkable and trailblazing collection that showcases user-generated and creator-owned art. But there’s more! The final artwork was auctioned on SuperRare, with the proceeds going to Slow Factory, an admirable NGO devoted to empowering local communities and creators. Moreover, Prada’s partnership with Polygon Studios enabled the creation of the NFT on Polygon’s network, taking the project to new heights.
6. Hermes
Hermes is planning to launch a virtual marketplace and web3 financial services, as well as its own virtual currency connected to digital collectibles and NFTs. They are also looking to hold fashion shows and trade events in both AR and VR environments.
7. Forever 21
Forever 21 has made a splash in the metaverse with its dynamic storefront in Decentraland’s Fashion District during Metaverse Fashion Week, showcasing a range of fashion NFTs. They have also launched “Forever 21 Shop City” on Roblox, partnering with Barbie to create a collection and collaborating with numerous digital influencers.
8. Zara
Zara entered the metaverse in 2018 with an AR app and has since partnered with a South Korean metaverse development company, Zepeto, to launch its virtual products, including limited-edition virtual clothing and makeup. You can even dress up your Zepeto avatars using Zara’s digital products, and they offer physical products as well. The fashion brand has also launched special AR filters on Snapchat to accelerate its position in the metaverse.
9. Burberry
Burberry is teaming up with Mythical Games’ Blankos Block Party for an exclusive NFT collection, featuring Sharky B and trendy in-game accessories. They recently unveiled Minny B, a new NFT unicorn character, along with a line of NFT accessories. The fashion giant has also created a virtual bag collection for the Roblox metaverse.
10. Balenciaga
Balenciaga made history in 2021 as the first fashion label to release an NFT capsule collection in Fortnite, and they are launching a metaverse business unit. Players can now purchase virtual Balenciaga items, and limited-edition physical products are also available. These luxury brands are leveraging NFTs and digital products to streamline their business processes and engage with customers in new and innovative ways in the metaverse.
Conclusion
In conclusion, the metaverse is rapidly becoming the new frontier for luxury fashion brands. By leveraging cutting-edge technologies such as NFTs and virtual reality, these brands are creating exciting new opportunities to engage with customers in innovative ways. As the metaverse continues to grow and evolve, it’s likely that we’ll see even more fashion brands joining the trend. With NFTs providing unique benefits such as ownership verifiability and data immutability, it’s not just artists but also businesses that are benefiting from these technologies.
FAQs
What are luxury brands doing in the metaverse?
Luxury brands are building their presence in the metaverse by creating virtual stores, experiences, and events. They are partnering with metaverse platforms to showcase their products, create immersive experiences, and explore new revenue streams.
Which brands are present in the metaverse?
Many brands are present in the metaverse, including major retail giants like Walmart, Nike, Adidas, and Balenciaga, and luxury brands like Gucci and Burberry. Automotive companies like Hyundai and BMW are also present, along with gaming companies like Roblox and Fortnite.
Is Gucci in the metaverse?
Yes, Gucci is present in the metaverse. They have created a virtual world called “Gucci Garden Archetypes” that is accessible through Roblox. In this virtual space, users can explore Gucci’s products and participate in interactive experiences.
What brands are on Sandbox?
Many brands are present on Sandbox, including Atari, Square Enix, and The Walking Dead. Sandbox also features a number of user-generated virtual experiences and games.
Is Sandbox owned by Google?
No, Sandbox is not owned by Google. It is owned and operated by a company called The Sandbox Interactive, which is based in Luxembourg.
