The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
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Background:
A new generation of digital creatives are leading fashion brands into virtual worlds by using their technical expertise and creative prowess to craft experiences for games like Fortnite or Roblox, and launch web3 products like NFTs. Translating real-world brand imagery to virtual spaces, however, requires a unique skill set and grasp of the culture driving different ecosystems.
“There’s a community that already exists [in the metaverse]. That’s one of the things that brands have to consider…” said Marc Bain, technology correspondent. “Making sure what they’re doing works for the community that’s already there. You don’t want to alienate people.”
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Key Insights:
- Creative studios like Emperia and BeyondCreative that specialise in the metaverse have seen an uptick in brand interest.
- Coming up with an interactive, rewarding experience for consumers is really tough. Just one object for a video game can take days of work.
- Training in skills like 3D design is becoming more mainstream: fashion schools are teaching it and designers are making an effort to learn the tools.
- Even amid the hype, as Bain points out in his review of Decentraland’s Metaverse Fashion Week, digital fashion still often looks rudimentary. That’s due to a number of factors, like insufficient consumer technology, which proponents bet will evolve as worlds become more developed.
Additional Resources:
The New Creatives Bringing Fashion Brands Into the Virtual World: Their mix of technical expertise and digital artistry has put 3D creators, game designers and NFT experts in high demand among fashion brands as they venture further into virtual territories.
Can The Metaverse Transform Fashion Business Models?: There may be a better analogy than e-commerce to size up fashion’s metaverse opportunity: will it be more like streaming or 3D movies?
Lessons From Metaverse Fashion Week: Brands such as Tommy Hilfiger and Dolce & Gabbana were among those to test the virtual waters, encountering challenges like low-quality visuals as well as some opportunities.
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