Tech

The Metaverse Rise: NFT, Crypto, and Luxury Brands

The metaverse has evolved from sci-fi action movies to real-world phenomena in just a decade. Facebook, for example, announced metaverse-focused initiatives in 2021, prompting a flood of metaverse-related content.

Apocalypse 20

The metaverse is catching up to the physical world in terms of accuracy. But what exactly is it? Simply put, the metaverse is a collection of virtual environments designed to facilitate human interaction. This includes everything from games to avatar conversations to asset purchases, marriage, travel, and everything in between.

Many related fields, including the luxury sector, demonstrate how the metaverse influences the real world. On the surface, however, the two appear to be unrelated.

Luxury is all about exclusivity, but how does that translate when everyone has access to the metaverse?

Metaverse:

The metaverse is a technological breakthrough, and technology has always been considered a luxury.

From the latest cellphones to high-end accessories, the two worlds have always been quite intertwined. Even as blockchain technology advanced in the previous decade, luxury was conveyed in some form.

Cryptocurrencies, which were once a revolutionary online concept, are now frequently worth hundreds of dollars, with ‘crypto bros’ dominating social media. It’s now the equivalent of owning a Warhol or a Basquiat to own a piece from a top-rated collection. This includes cryptos and NFTs, as well as anything else that people can sell for a high price and use as a status symbol.

Similarly, to commemorate the founder’s 200th birthday, Louis Vuitton released a game called Louis the Game. Players can take on the role of Louis Vuitton and try to find some of the 30 NFTs hidden throughout the game.

Finally, Blanks Block Party was created in collaboration with Mythical Games. The game, which features limited-edition Burberry NFTs, is the first time a high-end fashion brand has entered the gaming market.

While investors debate the merits of NFTs and blockchain, the fashion industry recognizes their potential. The metaverse holds a world of fascinating possibilities for this enquirer, and the possibilities are endless because metaverse creators loosely base them on the “real” world. Several fashion houses have already dabbled in the metaverse, with interesting results.

New resources are also being developed to assist fashion businesses in gaining access to the metaverse and NFT. After all, not every fashion house or designer can match Gucci’s or Burberry’s recipes.

NFT fashion design created on the internet

That’s where the concept of Internet Made comes into play. Internet Made is a new metaverse fashion brand and center that helps designers create fashion NFTs. Fashion designers and artists, misfits, and crypto enthusiasts, for example, are experimenting with new ways of expressing themselves and preparing for future virtual environments.

“By pioneering a new fashion market and community for global talent,” says Internet Made co-founder Rok Bozic, they hope to reduce unsustainable behaviors in the offline fashion sector, such as high carbon emissions and significant resource waste.

Even if they are just avatars in an NFT universe, people require clothing. Thanks to Bozic and his collaborator Tim Brdnik, designers may benefit from the paradigm shift. The fashion industry has been chastised for its waste and greenhouse gas emissions. Metaverse fashion now creates, manufactures, and wears clothing in a completely virtual environment.

When NFT fashion is released, consumers will have more options for purchasing it. To acquire NFTs and transfer them to the metaverse, users must frequently register on a specific platform. Shopping in malls and stores is, in fact, far more convenient.

3D Buildings in the metaverse

MetaDojo is bringing this ease to the metaverse, which is even more intriguing. As a result, 3D buildings can now be distributed across any metaverse, incorporated into websites, and even shared on social media channels. Brands may, of course, alter the interior, appearance, and other features. This procedure appears to be a carbon copy of SimCity — but that’s fine. GamePix has a number of good city-building games.

As stores sell clothing, these structures can display NFT collections. As a result, metaverse users can shop for digital clothing just like they do in real life.

This includes virtual gatherings and events. Fashion runway events, for example, could take place in the same building where merchants sell their wares. MetaDojo also plans to provide virtual assistants who will be able to serve meals at events. Since the COVID-19 outbreak, virtual fashion shows have become increasingly popular. As a result, everything is well connected.

Customers who lack resources and knowledge about crypto and blockchain, in general, may be able to do so. Fortunately, solutions are on the way. Customers can use Crypto eXpress to not only buy and sell cryptocurrency but also send and receive it.

This could mean that people can buy luxury goods with Bitcoin just as easily as they can with fiat money. A built-in NFT market for buying and selling is also available in CryptoXpress. As a result, consumers will be more connected than ever before.

The area is well on its way to prospering more than ever before, thanks to the presence of the luxury sector. This synergy, according to the X10 agency’s Sergey Baloyan, benefits both producers and customers. Web3, NFT, and DeFi initiatives are promoted by X10, a well-known company.

NFTs and DeFi provide a lot of value to consumers, and having it all in one place, such as the metaverse, is even better. He claims that people will get everything they want all at once.

Looking Ahead

The metaverse’s future includes fashion, despite its youth. After all, the metaverse’s creators intended for it to resemble our current reality. Furthermore, many companies will provide resources to help them make this digital leap. As a result, there will be a surge in fashion influence in the metaverse as a result of this move.

Consumers will benefit the most, as they will be able to explore the metaverse more freely and stylishly.

Learn more from Metaverse and read NFT 2022 Predictions, Evolving, and Reflecting.

John Harper

#1 File Information bestselling author John Harper loves to dispel the myth that smart men & women don’t read (or write) romance, and if you watch reruns of the game show The Weakest Link you might just catch him winning the $77,000 jackpot. In 2021, Netflix will premiere Bridgerton, based on his popular series of novels about the Why Files.

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