Fashion is all about being in the trend. When the current trend in the world is metaverse, how can fashion brands stay untouched?
What are fashion brands doing in the metaverse?
They are releasing branded NFTs with special utilities. Some NFTs are redeemable which gives physical products as rewards or discounts.
Fashion brands are also releasing digital twins of their products. Moreover, brands are also opening virtual stores on the metaverse to people to explore their services in an immersive virtual world.
What more brands can do in the metaverse?
Luxury fashion brands are enhancing customer experience and marketing their products by offering unique virtual experiences to their customers. They are doing so by building exclusive virtual space in the metaverse.
For instance, Nike built Nikeland on Roblox where you can dress up your online avatar in branded Nike apparel and accessories.
Nike is not alone in this fashion metaverse endeavour. Brands like Gucci, Louis Vuitton, Adidas and others have also joined the metaverse trend. Every luxury brand is offering something innovative and unique to their customers on metaverse.
Let’s find out what the leading fashion luxury brands are doing in the metaverse.
Statistics That Support The Future Of Fashion Metaverse
Before we proceed to look at the fashion brands in the metaverse, let’s see some statistics that promise a fruitful fashion metaverse future.
- Metaverse fashion recorded a whopping 30.5% Y-O-Y growth rate in 2022.
- The metaverse fashion market will grow at a CAGR of 36.47%.
- At that rate, it is expected to reach $6.61 billion by 2026.
- As of now, Nike has made $185 million in NFT sales.
- Dolce & Gabbana has generated a revenue of $25.6 million in NFTs.
- Gucci made $11.56 million in NFT revenue and $31 million in secondary sales.
- Adidas saw 51,000 transactions in the secondary market with over $175 million in NFT sales volume.
10 Luxury Fashion Brands in the Metaverse
10 Luxury Fashion Brands in the Metaverse
Here are the top 10 luxury fashion brands harnessing the power of metaverse development services to build their base in the virtual world.
In 2022, Nike acquired RTFKT, a digital design studio. Thanks to its acquisition, Nike Digital which handles the metaverse operations made a quarter of the total brand’s revenue.
With $185 million in NF sales, Nike made a grand entry into the metaverse space. It launched a collection of 20,000 NFTs also known as Cryptokicks. Soon the collectors were in a race to get the branded NFTs. In fact, one NFT collector paid $130,000 for single pair of digital sneakers.
You will be surprised to know that these NFT sneakers were designed by famous Japanese contemporary artist, Takashi Murakami.
Nike reached another milestone last year with its virtual presence in the metaverse. Nike partnered with Roblox to launch Nikeland. It is a replica of the company’s real life headquarters, buildings and arenas.
That’s not all! You can enjoy exciting games in Nikeland. The most thrilling game of all is the “Floor is Lava” dodgeball game.
Nike land is a huge success among the brand’s customers with 21 million users.
Nike’s metaverse saga does not end here. It has also opened its virtual store in the metaverse where all-time classic products like Air Force 1, ACG, Nike Tech Pack and Nike Blazer are on display.
Gucci is not only a leader in the fashion world, but also in the metaverse. The luxury Italian brand has taken the digital world by storm with many innovative initiatives that have elevated it to new heights in fashion.
Last year, Gucci broke ground in the NFT space with a movie inspired by its Aria collection. The film was a hit and was sold as part of a Christie’s-led auction, in collaboration with digital artist Lady PheOnix.
But Gucci didn’t stop there. They teamed up with popular gaming platform Roblox to launch a digital experience called Gucci Garden, which was inspired by the label’s real-life Florence show. Users were able to explore the immersive themed rooms, try on and even purchase Gucci NFTs to wear in the game.
In fact, the virtual version of Gucci’s iconic Dionysus bag sold for a record-breaking price of $4,115, higher than its real-world counterpart.
Since then, Gucci has continued to push the boundaries of virtual worlds, gaming, blockchain, and NFTs. The luxury brand has collaborated with toy maker Superplastic and the narrative NFT project 10KTF, and has announced plans to expand its metaverse and gaming strategies even further. With Gucci leading the way, it’s clear that the future of fashion is not only physical but also digital.
Another prominent brand to mark its presence in the metaverse is Louis Vuitton. The French fashion house launched a metaverse mobile game in partnership with Beeple.
The mobile game “Louis The Game” was a part of the 200th birth anniversary of the founder. It is a narrative story game that takes the players through 7 virtual worlds portraying the seven fashion capitals.
What’s more exciting about the game is that the players get the chance to win exclusive NFTs. The game includes a total of 30 NFTs out of which 10 are designed by Beeple.
However, this isn’t the most appealing part of the game. Players can customize their avatars with a wide variety of available LV prints. The game has a footfall of 2 million players.
Unlike other brands that are releasing NFTs for sale purposes, Louis Vuitton differs in this regard. The NFTs or the tokens in the game are not meant to be sold in the open market.
Louis Vuitton CEO, Michael Burke explained, “This is not a commercial experience, but a pedagogical, educational experience that must be fun, emotional and dynamic.”
In fact, we can say that the metaverse game is a brilliant marketing strategy for the brand to engage with its customers.
Another brand to dip its toes in the metaverse space is Adidas. Back in December 2021, Adidas partnered with renowned BAYC and Gmoney to release its NFT collection containing 30,000 NFTs.
The brand has brought together NFTs and physical clothing, allowing buyers to own both at the same time.
The NFTs come with virtual wearables that can be used in The Sandbox. But that’s not all. You’ll also receive a physical piece of clothing, like a tracksuit, hoodie, or the signature orange beanie worn by Gmoney.
All digital assets are secured by crypto exchange Coinbase, so you can rest assured that your virtual investments are safe. This exciting move is part of Adidas Originals’ push into the sportswear lifestyle space, and it’s sure to be a hit with fans of both virtual and physical fashion.
Get ready to dive into a futuristic world where fashion meets technology! Prada and Adidas Originals have come together to create a groundbreaking project that has taken the virtual world by storm.
With the Adidas for Prada Re-Source limited edition NFT collection, these two powerhouses have challenged the norms of traditional fashion by bringing together a diverse group of 3000 participants from the fashion, design, and crypto industries.
These talented individuals were tasked with creating individual NFT tiles that would be compiled into one NFT world by the brilliant digital artist Zach Lieberman.
An epic, first-of-its-kind collaboration that showcases user-generated and creator-owned art, in a truly innovative and boundary-pushing collection.
But that’s not all! The final artwork was auctioned on SuperRare, with the proceeds going to Slow Factory, a commendable NGO dedicated to empowering local communities and community creators.
And let’s not forget Prada’s partnership with Polygon Studios, which has allowed the NFT to be created on Polygon’s network – truly taking this project to the next level.
Get ready to witness the fusion of fashion, art, and technology with the Adidas for Prada Re-Source collection. It’s a one-of-a-kind experience that will leave you inspired and awestruck.
Hermes, the legendary fashion label, is taking the virtual world by storm with its latest plans. In a recent trademark filing, the brand has hinted at some big web3 plans, including launching a virtual marketplace and web3 financial services. But that’s not all – the French luxury brand also plans to introduce its own virtual currency connected to digital collectibles and NFTs. Can you imagine owning an exclusive Hermes NFT?
And that’s not all – the trademark application also suggests that Hermes is planning to hold fashion shows and trade events in both AR and VR environments. You might even be able to attend a Hermes fashion show from the comfort of your own living room!
This announcement follows a recent court case with the Metabirkin NFT creator, Mason Rothschild, where Hermes accused Rothschild of copyright infringement of its iconic BIRKIN trademark. But it seems like Hermes is moving forward, ready to explore the endless possibilities that the virtual world has to offer.
Fast fashion retailer Forever 21 is shaking up the fashion world with its entrance into the metaverse. They made quite the splash by becoming part of Decentraland’s Fashion District during Metaverse Fashion Week, showcasing a dynamic storefront with Forever 21 avatars and a range of 21 fashion NFTs inspired by their physical store collection.
But they didn’t stop there – Forever 21 has since launched “Forever 21 Shop City” on Roblox, where fashion lovers, influencers and creatives can own and manage their personal store, and even trade in the brand’s merchandise.
Not content to rest on their laurels, Forever 21 also partnered with Mattel’s iconic Barbie to create a collection that launched on Roblox. And as part of their ongoing metaverse promotion strategy, they continue to collaborate with numerous digital influencers.
The Spanish fashion brand is not behind the metaverse fashion trend. It entered the metaverse space in 2018 with an AR app that showcases its 120 stores across the globe.
Then last year, Zara partnered with a South Korean metaverse development company, Zepeto to launch its virtual products.
Since then Zara has not stopped to establish itself as the top metaverse fashion brand. It has also released limited edition virtual clothing and makeup. You can dress up your Zepeto avatars using Zara’s digital products. The digital products include eye shadow palettes, lipsticks, jumpsuits, jackets, dresses, jeans and more.
What’s more in store with Zara’s digital products?
You even get the physical products. So now, you and your avatar can dress the same way in real and virtual worlds.
To accelerate its position in the metaverse, the fashion brand has also launched special AR filters on Snapchat.
When it comes to high-end fashion, Burberry has always been a trendsetter. And when it comes to the metaverse, the brand was quick to jump on board, teaming up with Mythical Games’ Blankos Block Party for an exclusive NFT collection.
Featuring Sharky B, a stylish shark character with the Burberry monogram, buyers can purchase, upgrade, and sell the token within the Blankos Block Party marketplace. The collection also includes trendy in-game accessories like armbands, pool shoes, and a jetpack, along with the ability to unlock a variety of superpowers.
Building on the success of the first collaboration, Burberry recently unveiled Minny B, a new NFT unicorn character, along with a line of NFT accessories. But that’s not all – the fashion giant has also created a virtual bag collection for the Roblox metaverse.
It’s clear that Burberry is fully embracing the metaverse and all its possibilities, offering customers a new way to experience and engage with the brand.
From Paris Fashion Week to the virtual world, this luxury brand is taking its signature style to new heights. Balenciaga made history in 2021 as the first fashion label to release an NFT capsule collection in the popular video game Fortnite.
Players can now visit the Fortnite x Balenciaga store to purchase virtual Balenciaga items, including the Hourglass Bag Glider and the Speed Sneaker Pickaxe. But don’t worry, fashionistas, limited-edition physical products like hoodies, shirts, jackets, and caps featuring Fortnite and Balenciaga logos are also available.
The release of this collection caused a surge in Balenciaga’s search volume, and with the metaverse becoming an increasingly significant focus, the fashion house is even launching a metaverse business unit.
Get ready to elevate your avatar’s wardrobe with Balenciaga’s virtual wearables, perfect for multiple game modes.
It’s pretty clear that luxury brands are establishing their business in the metaverse. With their digital products, NFTs and virtual stores, these brands are giving a push to metaverse fashion.
Credit to the unique features of NFTs such as ownership verifiability, data immutability and smart contract functioning, not just digital artists but fashion brands are also leveraging them. In fact, businesses are also getting NFT development solutions to streamline their supply chain, logistics and other business processes.
Looking to harness the power of NFTs and metaverse to achieve business excellence?
Get professional NFT development solutions and metaverse development services from experts. Contact Blocktech Brew a leading metaverse development company to make your move into the rapidly growing metaverse.
I am the CEO and founder of Blocktech Brew, a team of blockchain and Web 3.0 experts who are helping businesses adopt, implement and integrate blockchain solutions to achieve business excellence. Having successfully delivered 1000+ projects to clients across 150+ countries, our team is dedicated to designing and developing smart solutions to scale your business growth. We are focused on harnessing the power of Web 3.0 technologies to offer world-class blockchain, NFT, Metaverse, Defi, and Crypto development services to businesses to help them achieve their goals.