The fashion, trading, and garment sectors are among those that the Metaverse has touched. But unlike trading, where platforms like Bitcoin Prime have made embracing the Metaverse easier, the other sectors struggled to create acceptance among the people for the Metaverse. However, now that Metaverse is more popular than ever, essential fashion brands like Gucci and others have invested in virtual ads and exhibitions. In this article, we have mentioned the three popular fashion brands that have embraced the Metaverse and whose efforts in the Metaverse have had an impact.
The Louis Vuitton
Like other fashion brands, Louis Vuitton is the first few that openly embraced the Metaverse at a very early stage. On the 200th anniversary of the birth of this company, when a mobile game, Louis the Application, was introduced. It was the most well-known event that had a significant impact.
However, The Game isn’t your typical smartphone game. It details Vivienne’s life as the designer of Louis Vuitton and has 30 NFTs. These tokens are used as a component of the game’s collection and are not accessible to the general public for purchase. It was founded with assistance from Beeple, one of the best and most well-known artists in the NFT community. The fashion industry’s investment in the Metaverse is shown by its art collage, valued at an estimated $69.3 million.
Balenciaga
Balenciaga is a famous fashion brand that Cristobal Balenciaga established in 1917. It is renowned for its unique style and concepts. The first few major fashion brands decided to embrace the Metaverse very early.
The decision by Balenciaga to enter the Metaverse, a virtual universe that continues to enchant everyone, was not unexpected. Fortnite, a well-known online game with more players owing to its VR concerts, was the first fashion brand to collaborate with it. Balenciaga suggested four distinctive products from its extensive collection to be marketed as avatars’ skins and accessories, given the innovative ideas this brand seems to have. It produced Doggo, a digital avatar entirely decked out in Balenciaga garb.
Gucci
Gucci has ed Superplastic, a business known for its one-of-a-kind vinyl memorabilia and toys. Together, they presented SuperGucci, a line of ceramic art, and gorgeous and unusual CryptoJanky NFTs. These NFTs feature the brand’s characteristic patterns, symbols, and logos. We expect the first collection to arrive in early February.
In 2021, Gucci and Roblox, one of the most popular gaming platforms, worked together to create avatars that featured Gucci handbags, hats, and sunglasses. It lasted two weeks and was referred to as the Gucci Garden area. Unique Gucci products, as well as memorabilia, were available for gamers and collectors to buy. This illustrated the scope of the Metaverse and how it affects different industries.
Despite a promising beginning, Gucci will continue to benefit from the Metaverse due to the rising demand for luxury goods, notably clothing. This virtual environment is also crucial to using cryptocurrencies, payment, and exchange which is becoming increasingly common. Luxury brand sales volume rises as density does.
Conclusion
Metaverse has assisted luxury fashion brands in growing their sales and popularity. Overstocking due to excess inventory is avoided in this virtual environment. According to the current trend, more firms in the fashion sector should participate in the Metaverse, given how well this initiative has performed. Metaverse has performed relatively well in trading because of AI bots like Bitcoin Prime and others. Many critics predict that it has the potential to be successful in the fashion industry as well.