Fashion Enters the Metaverse: How NFTs Are Changing the Industry

Welcome to the fashion metaverse, a technological movement that involves participating in a digital world through tech advancements, creating innovative ways to interact with the fashion industry.

Fashion was once tangible. Something you could see—something you could touch. And now with the creation of NFTs, a non-fungible token, it could be something that only exists online on a blockchain ready to be bought and sold for a pretty penny.

Source: Metabirkins

Mason Rothschild, an LA-based digital designer, created an exclusive NFT collection of 100 Birkin bags for Art Basel Miami, which he so cleverly named the MetaBirkin.

According to Elle Uk, “…while each MetaBirkin was initially sold for a rather modest 0.1ETH (the Ethereum blockchain's cryptocurrency), prices have since skyrocketed to near real-Birkin levels – with some selling for as much as the crypto equivalent of £40,000 [$53,000].” Rothschild has no affiliation to Hermès, and the luxury fashion house has even filed a cease and desist against the artist.

The Hermès lawsuit has only increased the popularity of NFTs in fashion. Powered by Yahoo, Rebecca Minkoff created an “I Love New York” NFT Collection. The collection consists of model portraits captured by Cass Bird and background images by Paul Siebert and Donte Page. Coach created a holiday-themed NFT collection depicting adorable cartoon animals dressed in winter accessories, which are all sold out.

Sources: Elle and Medium

Due to the pandemic, designers have been re-evaluating what fashion shows can look like and have been getting creative with the technological advancements available to them.

During NYFW, Maisie Wilen presented a never-before-seen immersive experience that merged the psychical and virtual worlds. By using Yahoo’s volumetric capture technology, they projected seven-foot-tall holographic models outfitted in the emerging brand’s futuristic collection.

Source: Harper’s Bazaar

Decentraland, a 3D virtual world platform, will be hosting the first-ever Metaverse Fashion Week. MFW will be four-day virtual event featuring runway shows and presentations, pop up shops, after parties, and other virtual experiences. The designers who will be participating in MFW are currently being kept a secret, but big-name brands are expected to be involved.

According to The Fashion Law, “[It] will take place between March 24 and 27, and will enable consumers to view the runway presentations, engage with other viewers, and purchase the virtual garments and accessories for their online avatars.”

Source: Roblox

Gucci Garden Archetypes – Diorama in Bloom (left) / Gucci Garden Virtual Exhibition on Roblox (right)

Designer brands are also joining the metaverse through video games.

Alongside the unveiling of the Gucci Garden Archetypes, a multi-media experience in Florence, Italy, Roblox created a virtual Gucci Garden you can visit from anywhere in the world. According to the Roblox website, “…the newly released developer avatar editor gives visitors the freedom to purchase and wear exclusive Gucci virtual items directly in the experience.”

At GucciFest, Collina Strada was able to release a five-level game called Collina Land where you fight climate change. The avatars are dressed in 12 different pieces from the Collina Strada Pre-Fall 2021 collection.

Even Balenciaga released four signature skins and other items into the virtual world of Fortnite.

Even trying on clothing is now made easier than ever before. Zero10 is a digital fashion platform that you can download on your phone to try on clothing created by designers, musicians, and artists. All you need to do is point the camera at your body and take a snapshot, which you can later share on social media.

The app uses cloth simulation technology and body tracking to make the clothing look as realistic as possible. Zero10’s current drop includes clothing from Barragán, Alexandra Sipa, Edward Crutchley, and Tommy Cash. You can’t physically own these clothes, but it’s an affordable way to show off your self-expression online.

Source: Wallpaper

If other brands develop this technology it could change online shopping forever.

The metaverse has been an interesting place for fashion and it’s only beginning. As technology continues to develop we’ll be seeing so much more innovation. Who knows what the future will hold?

How do you feel about the fashion metaverese? Leave a comment below.