Tim Maughan, the author of this week’s article from Esquire magazine, describes the metaverse as a shared virtual space where all the Internet services and platforms come together and are accessible through a unified interface. Meta envisions the Metaverse as a place where people will come to share experiences with friends, strangers, and celebrities.
Maughan describes the Metaverse as a place to see and be seen. One can expect, therefore, that a person’s Avatar is not expected to go around the virtual world in the same outfit. Hence, the fashion industry has multiple creative opportunities in the Metaverse. With fewer limitations, the fashion industry has the leverage to explore this arena and multiply its revenues. The gaming world already seems to be benefitting from this. The way your character looks in games like Fortnite, has contributed a significant amount to its revenue. The fashion industry is taking a lead in the virtual space by branding. For instance, companies gathered at Metaverse Fashion Week which happened on a virtual platform called Decentraland. Many brands such as DKNY, Tommy Hilfiger, Etro, etc. made an appearance at the event.
The article also discusses upcoming startups like DressX, which uses Snapchat style AR filters for customers to try on new fashion trends. Lastly, VRChat is another virtual space that offers limitless possibilities and alternatives depending on where you want to go once you have logged in.