The future of fashion could go digital as more and more fashion brands set up shop in the metaverse, offering netizens unique clothing options for their online avatars.
High-end brands such as Tommy Hilfiger, Gucci, and Dolce & Gabbana have all invested millions of dollars in Metaverse Storefronts and Digital Fashion NFTs. kiplingerGap, Aeropostale and Forever 21 have created digital wardrobes for gaming platforms.
While these intangible garments may seem like a niche investment, it says there is a growing demand for digital clothing. The future of marketing labsThe company’s global survey found that “47% of consumers are ‘interested in digital fashion and 87% have already purchased some form of digital fashion’.”
As digital identity becomes more important among younger generations, will interest in pixelated clothing continue to grow, or is it just an internet fad?
What is digital fashion?
According to Kiplinger, digital fashion is “virtual 3D clothing designed with both humans and digital avatars in mind,” and most brands also make replicas of their digital creations for physical use. . These virtual shirts, pants, dresses, etc. are made “in his special 3D computer programs such as Blender and CLO3D.”
Making clothes out of pixels instead of fabric makes these clothes more ecologically sustainable. sellin.
There are currently two types of digital fashion. refinery29“A digital wearable is clothing that an avatar can wear in a game or in the metaverse”.
Some of these garments can be found in avatar-free virtual museums and mall-like stores.Tobi Ajala, founder and CEO of TechTee, “a digital agency dedicated to luxury and fashion said: Elle The experience is like “walking through a museum or window shopping”.
With avatars, “you can customize and dress up and experience your brand in a whole new way,” she says.
According to Kiplinger, digital fashion consumers, like the brands themselves, appreciate the Metaverse’s “no creative constraints or production limitations.” Online his users can choose to be whoever they want in the Metaverse, and Digital Fashion allows them to “show off their digital style.”
how much does it cost?
Like physical fashion, digital fashion can cost a lot of money.
At the lower end of the spectrum, digital fashion stores like DressX say, “You can buy a t-shirt for $14 and pants for $20,” while rival store Replicant says, “The same item can go as low as $6. ‘ said. refinery29.
In addition, some designer brands offer replicas of their real-life creations on the metaverse, often offering deep discounts to attract loyal customers. financial times.
The digital world’s NFT sector is not so generous. “Dolce & Gabbana has sold his nine-piece NFT collection, which includes both physical and digital items, for $5.7 million. style me.
The Financial Times reported that Tiffany & Co has created a line of “NFTiffs.” Those who purchase “Tiff” will also receive a physical pendant of “corresponding dot picture CryptoPunk character”.
Generally, “By 2030, Morgan Stanley estimates that the digital fashion market alone will be worth $50 billion,” says Kiplinger.
This is because the digital universe’s ability to “create more equitable spaces and experiences for plus-size shoppers, people with disabilities, and the LGBTQI+ community” has led to a growing fan base among new generations. There is a possibility. vogue business.
This increase in Metaverse consumers and the rapidly growing digital world means the Metaverse “could reach $8 trillion in 20 years,” according to Goldman Sachs estimates, says the Financial Times. .
What does the future look like?
The rapid growth of the metaverse comes with its own problems. For example, intellectual property regulations have not yet been addressed to accommodate virtual worlds.
Metaverse alias ‘Web3’ is not regulated, so ‘many people are concerned about compliance issues with these new platforms and compromising their carefully preserved image’ said the Financial Times.
Nevertheless, the world of digital fashion is growing very quickly. With the recent addition of “virtual try-on” and “metaverse fashion show,” in just a few short years, “you never know what’s going to happen next,” Elle said. Either way, innovation in this area “will only make the industry stronger, especially as brands get more creative in how they present their digital work.”