Fashion, for the most part, is all about being ‘on-trend’. Since the Metaverse has expanded, fashion brands alike have naturally raced to stay ahead of the game, launching virtual experiences for consumers to become a part of.
It’s estimated that last year alone, Metaverse fashion had a considerable growth rate of 30.5%, and by 2026, its revenue will reach $6.61 billion… So we can see why brands are in a rush to get involved.
We’ve taken a look at what a few of the leading fashion brands are doing in the Metaverse, how successful they’ve been and what could happen in the future!
Nike has always been forward-thinking when it comes to technology; from self-fastening shoes to Nikeland in Roblox, it’s a brand that’s always thinking about the next big thing. Nike’s most recent venture saw them take on the Metaverse with their new platform for virtual creators, Swoosh.
Swoosh was created as a Web3 platform which allows users to purchase digital Nike collections. In their first digital collection, users could choose between two exclusive boxes, The Classic Remix box with a custom AF1 featuring a nostalgic twist or a classic AF1 from the years 1982 to 2006 and the New Wave Box.
Nike Virtual Studios said of the official release, “We are exploring new ways to tell stories and create relationships while removing the barriers and limitations of physical products. With more members choosing to express themselves across physical and digital worlds, Swoosh is the marketplace of the future.”
Launched back in 2003, California-native brand Revolve is yet another brand slowly but steadily dipping its toes into the Metaverse. Upping their efforts in digitalisation with the self-proclaimed ‘world’s first artificial intelligence billboard’.
Celebrating the brand's 20th anniversary, the billboard titled ‘Best Trip’ looks to signify past, present and future through artwork.
After being unveiled on billboards throughout the CA 10 highway, Revolve also announced they would release a limited edition collection of the designs featured in the AI campaign!
Fast-fashion giant H&M has introduced its latest Metaverse experience on Roblox with their launch of its ‘Loooptopia Experience.’ The space is designed to be an engaging environment for users with everything from virtual styling sessions to mini-games and digital events.
Within the H&M Metaverse space, users are able to create their own avatars, dress them in clothes of their own choice and let their avatars walk a digital runway.
Designer brand Balenciaga has solidified itself as a staple fashion house for more than 100 years. Their marketing strategy has always involved risks, so when they expanded to the Metaverse, it was almost expected.
Teaming up with the popular video game Fortnite, Balenciaga released a range of exclusive ‘skins’ for the platform. Since its launch, Fortnite’s popularity has only increased; its monthly player base is consistently around or above 80 million, so the collaboration between the two brands was highly anticipated across the globe.
In the game, players could choose virtual Balenciaga outfits and accessories for their avatars, enter a physical store and have a custom-designed ‘Balenciaga Dance’. As it was the first collaboration between a video game and fashion house, it started the trend of blending the physical and virtual worlds through fashion. Overall, the collaboration was seen as a way for each brand to engage with new audiences but also to build a new route of creativity.
Another brand under the H&M umbrella that has expanded to Web3 is Weekday. This month, the fashion brand released two digital collectables in collaboration with notable fashion house, The Fabricant.
The limited edition drop titled Artifact 001 features digital glasses in two colours, with physical versions of the glasses also available to buy. The drop aims to immerse the brand into the Metaverse even further after previously exploring AI, AR filters, virtual experiences and more.
Luxury fashion brand Gucci is a leader in the fashion world and now in the Metaverse too. Taking steps into the digital world, Gucci launched their virtual ‘Gucci Garden’ space exclusively for Roblox users.
The garden was available to users for two weeks and was divided into themed rooms so visitors could immerse themselves in the experience. Not only that, but the Gucci Garden allowed users to purchase Gucci NFTs; in fact, a virtual bag sold for a record-breaking price of $4,115 (a higher price than one of their physical bags!), and in total, made over $11.56 MILLION in NFT revenue.
It’s estimated that over 20 million players visited the garden, despite it only being open for a short time, and lead to the creation of Gucci Town, which consists of mini-games, a virtual store and even a Gucci cafe.
American-made fashion house Ralph Lauren brought its heritage branding to the virtual world called ‘Ralph Lauren Winter Escape’ within Roblox. Users were offered the chance to purchase NFTs for as little as $5 and allowed the Roblox community to enjoy winter-themed activities and games.
The collaboration between Ralph Lauren and Roblox builds on the digital innovation of both brands. Ralph Lauren was one of the first brands to take their clothing online, launching their initial US eCommerce site back in 2000, and their involvement with the Metaverse is further proving their ability to push boundaries and explore digital trends.
Overall, it’s becoming pretty apparent that fashion brands are diving straight into the Metaverse and establishing their digital presence. Promoting everything from NFTs to virtual products, the Metaverse is only just getting started. Although Web3 is making luxury fashion experiences more accessible to the public, it’ll be interesting to monitor the rapidly growing Metaverse and whether it’s here to stay!