The company Meta - Facebook previously - announced last year the launch of the Metaverse platform, which is based on the integration of social media platforms with virtual reality technology (VR - VR) and augmented reality technology (AR), and the prosperity of metaverse has been associated with the boom of NFT. But what are metaverses? How will it change the shape of the world in the near future? What is the impact of metaverses on the growth of NFTs?
Metaverse and modern technology imposed itself strongly on the world of fashion, in a unique event, as the fashion capital “Paris” opened its week by organizing a group of virtual fashion shows, and during the show they appeared 3D models, similar to “Avatar” characters, and the idea Inspired by Dolce & Gabbana Milan Fashion Week.
As fashion experiences Metaverse, it can be separated into two forms: a mixture of physical and digital, where clothing can be worn using augmented or virtual reality, and fully digital, where items are sold directly to the avatar.
Some major fashion players have already begun capitalizing on the gaming market -- in 2019, Louis Vuitton designed skins for League of Legends, and Nike and Ralph Lauren have this year offered avatar accessories through the virtual world-building platform Roblox. Outside of gaming environments, NFTs -- or non-fungible tokens, which use blockchain technology to verify ownership of digital assets -- have allowed digital fashion to be monetized more broadly as well. (This fall, Dolce & Gabbana's NFT collection sold out for 1,885.719 ETH, at the time equivalent to $6 million).
And without physical runway shows last year, fashion designers were forced to get creative in how they presented their clothes. American luxury label Hanifa put on a digital show that eschewed human models in favor of headless, floating figures wearing 3D-renders of new garments, while Chinese designers Xu Zhi, Andrea Jiapei Li and Roderic Wong presented collections during Shanghai Fashion week through an AR virtual showcase.
"Brands realized that they had to create digital showrooms and digital fashion shows...to sell their collections in 2020," said Karinna Grant, who co-founded the NFT fashion marketplace The Dematerialised with Marjorie Hernandez, in a phone call. Because of that, she added, consumers were exposed to new ways of seeing clothes presented digitally.
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