The metaverse is becoming a fashion destination.
Many brands have been stepping into the metaverse as digital fashion becomes a growing trend. Over the past few months, we have seen luxury brands and fashion labels like Collina Strada, Balenciaga, and Louis Vuitton provide consumers with virtual clothing to style their digital avatars.
And why wouldn't they? The metaverse is filled with shoppers eager to spend money on virtual goods. For example, creators can make over $10,000 a month from virtual clothing sales on IMVU, an online metaverse and social networking site. In May, a digital edition of a Gucci handbag sold for more than $4,115 on Roblox, and just last week Dolce & Gabbana sold nine NFTs for a whopping $5.65 million!
In addition to this, there's no need for brands to worry about shipping physical goods.
This week, we also dipped our virtual toe into the metaverse to explore Yahoo's collaboration with Selfridges and designer Charli Cohen to celebrate the 25th anniversary of Pokémon. We virtually hung out in the fabulous Electric City, where we were treated to an immersive shopping experience filled with interesting digital garments and music shows. We were also able to buy real world items from Selfridges online store, which was nicely integrated into the Electric City experience.
At Rerun, we think the crossover between fashion and the metaverse is a fascinating trend and one we will be paying close attention to it as it develops!
Until next week!
Dolce & Gabbana sells 9 NFTs for $5.65 million
Dolce & Gabbana has set a $5.65M record for fashion NFTs!
The Collezione Genesi collection designed by Domenico Dolce included nine non-fungible tokens. All nine NFTs were one-offs and featured both a physical item and a video. The pieces included clothing items for men and women and museum-grade jewellery - the most expensive item went for $1.275 million!