Fashion brands are continuing their migration to metaverse platforms such as The Sandbox and Decentraland in increasing numbers as the industry looks to go ‘digital’ and fill the demand for virtual collectables.
A number of iconic fashion houses have begun staking their claim in the virtual worlds, including Adidas, Nike, Burberry and its latest addition – Gucci.
The high-end label acquired a plot of ‘digital land‘ within The Sandbox to create ‘interactive fashion experiences’ for consumers via ‘VAULT’, a conceptual space and meeting place designed by Gucci to evoke “childhood memories of the search for beauty”.
Within the fashion experience, digital collectables created by Gucci designers will be available for players and creators to buy, own, and use in their own personal experiences via The Sandbox’s various creator tools.
Gucci’s metaverse expansion is an extension of a series of collaborative efforts, including Gucci x SuperPlastic – a three-part, sold-out series of NFTs co-created by Gucci’s Creative Director Alessandro Michele.
The Sandbox co-founder, Sebastien Borget, noted the value of digital collectables and how they can bridge the gap between real-life and virtual experiences for consumers.
“For a new generation of players, virtual fashion is as important as real-life fashion, and who better to bring its brand voice and experience to enrich digital style The Sandbox metaverse than Gucci?” he said.
“I look forward to visiting VAULT as well as seeing Gucci’s incredible fashion designs come to life in player-created experiences throughout The Sandbox.”
Sportswear brand Adidas has also been pioneering a presence within the metaverse. Its first foray into the space – a partnership with Bored Ape Yacht Club creator Yuga Labs and Punks Comics – saw company purchase a BAYC NFT and acquire a plot of land within The Sandbox known as the ‘AdiVerse‘.
In addition, Adidas launched its own digital collectable – an ‘Into the Metaverse‘ NFT’ – alongside forming a high-profile partnership with Prada to encourage more creative and community efforts in a Web3 environment.
Fellow sportswear brand Nike has also made moves to stake its claim within the virtual world with the acquisition of digital collectable studio RTFKT and the establishment of ‘Nike Virtual Studios’, a venture aimed at improving Nike’s presence within the metaverse.
RTFKT is known for creating virtual shoes and digital collectables within metaverse platforms, and uses NFTs and augmented reality to create “one of a kind” virtual products and experiences – opening the door for Nike-branded accessories to become available for all to wear.
Now, in a bid to further encourage the digital migration of the fashion industry, Decentraland is set to host the inaugural ‘Metaverse Fashion Week’ within its expansive virtual space.
Starting on March 24, MFW will open its doors for metaverse residents to browse digital collectables in various brand and label-owned plots of land containing various shows, music concerts and after-parties.
Attendees of the virtual event will also be able to purchase and wear digital collectables using their Decentraland avatar.
No names were released ahead of the breakthrough event for the fashion industry and the metaverse. However, it’s speculated that some of the biggest names in fashion will be eager to set up shop in the virtual realm.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.