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How is the fashion industry engaging with the metaverse?
Those who consider ourselves mildly aware of the latest digital trends are likely to know at least something of what the metaverse signifies.
But for those of you reading who don't, allow us to set it out. Investopedia defines the metaverse as a 'digital reality that combines aspects of social media, online gaming, augmented reality (AR), virtual reality (VR), and cryptocurrencies to allow users to interact virtually.'
There is no doubt that the decision of the company behind Facebook to rename itself 'Meta' in October 2021 hugely helped vault talk of the "metaverse" even further into mainstream consciousness.
Research suggests that about four in ten adults in the United States have heard of Facebook's VR project metaverse, and – around one in ten of those questioned admitted to having learned about Facebook heading in this direction. So, there is an increasing urgency to answer what the emerging 'metaverse' means for digital marketing in fashion.
The metaverse: far from just an online marketing trend
The two-word answer to the above question is a lot. There is no shortage of fashion and luxury brands that have already begun to take on this brave new frontier, realising that the metaverse is far from just a ‘surface’ trend for an industry that knows all about keeping one’s eyes straight ahead.
From the Italian fashion house Dolce & Gabbana’s sale of a nine-piece collection of non-fungible tokens (NFTs) for a record $5.7 million, and Louis Vuitton’s launch of a videogame with collectable NFTs, to Nike’s construction of Nikeland on Roblox’s platform, and Luxottica using AR to provide an online shopping experience “comparable to the real one”, prestigious names are seriously innovating in this area.
Such initiatives, carried out with the assistance of strategic partners in the tech world, are showing that the fashion industry – for so long so strongly associated with the clamour for physical commodities – is playing its own part in bringing together the physical and digital spheres in ways most of us may have never previously imagined.
In short, the metaverse is the infrastructure of the future. Key figures and entitles across the high-end fashion industry are taking their chance to get ahead of the game.
Nor should this be seen as unexpected or incongruous - given how fluid and well-integrated user experiences of the metaverse fit in well with the luxury industry's never-ending striving for a sense of aspiration, impeccable customer service, and the technological cutting edge.
Get in touch with our fashion-industry experts.
Digital marketing in fashion, it is fair to say, will look decidedly different in the months and years ahead. But is your own brand well-placed to take advantage?
For an in-depth discussion with our specialists on the various ways in which we can give your high-end or fashion business a stronger creative and marketing direction in 2022 and beyond, reach out to us via phone or email.
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