The Ultimate Guide to Metaverse Luxury

The Ultimate Guide to Metaverse Luxury

The term "metaverse" refers to a highly immersive and collaborative virtual world in which people may interact, work, and play in the same manner that they do in real life, but in a virtual environment.

The business of luxury in combination with Metaverse is bound to scale new heights. The ultimate guide to Metaverse Luxury can help you make sense of it all.

What does metaverse comprise of?

The metaverse integrates features of digital technology such as video conferencing, games such as Minecraft or Roblox, cryptocurrencies, email, vr technology, social networking, and live-streaming.

The immersive nature of metaverse makes it super compatible with luxury.

"Metaverse is the evolution of the internet. It will impact our lives like the radio, television, internet did years ago - only much faster, deeper & in a profoundly more immersive manner."

Suhas Kataria

The metaverse's commercial and promotional potential has enticed premium businesses to participate. The initial metaverse frenzy has seen online game developers and social media platforms hogging the limelight. However there is an immense lot of promise and possibility for luxury brands to evolve their mataverse business and presence radically. 

For many, the metaverse is a fantastical concept popularised in today's top news stories. Others say the term "metaverse" simply alludes to the internet's future.

However, if one examines the facts and numbers and real actions, the writing is clearly on the wall: the metaverse is HUGE and it is NOW.

Examples of luxury companies that have ventured into the metaverse

Dolce&Gabbana - Metaverse Fashion Week

Dolce&Gabbana featured in the first Metaverse Fashion Week, sponsored by Decentraland in collaboration with UNXD, the top luxury NFT platform, in March 2022.

Domenico Dolce and Stefano Gabbana introduced a unique line of twenty Metaverse wearables inspired by the medium's inventiveness and ingenuity. Following the virtual fashion show, the designs remained available until March 27th, 2022, at the exclusive Dolce&Gabbana pop-up in Decentraland's Luxury Fashion District.The event demonstrated the brand's dedication to the Metaverse and pushed the boundaries of DGDNA and its creativity.Along with the collection, the company officially launched DGFamily, an exclusive NFT (Non-Fungible Token) community that was first announced in February 2022.

Tommy Hilfiger - Metaverse Fashion Week

Tommy Hilfiger also took part in Metaverse Fashion Week, which was organised by Decentraland, the world's first user-owned virtual environment, from March 24 to 28, 2022. The premium fashion business showcased its Spring 2022 designs and presented a digital shopping platform where customers may buy for NFTs for their avatars or tangible products from inside the Metaverse at this virtual event. This virtual shopping experience was created in collaboration with Boson Protocol - the Web3 commerce settlement layer that enables the frictionless exchange of digital assets for real items, services, and experiences.

Tafi and Coca-Cola

Coca-Cola partnered with 3D designers at Tafi in July 2021 to organise an auction for limited-edition virtual 'loot boxes' of NFTs, which raised over $1 million.The sets contained digital attire that could be worn in the open-source game platform Decentraland, which is housed on the Ethereum blockchain, as well as a real-world Coca-Cola refrigerator for the winning bidder.

Coca-Cola and Tafi fostered a strong sense of community inside the cryptocurrency industry and attracted new, younger viewers to their social media platforms.

Louis Vuitton

Louis Vuitton celebrated its second centennial last year. To pay tribute to its creator, the company created Louis the Game, an adventure game.

The smartphone game follows Vivienne as she traverses six realms in search of 200 candles to mark Louis Vuitton's birthday.

The brand developed its own tale and universe for exploration, akin to that of a PlayStation role-playing game (RPG). When the game begins, you are immediately transported to a realm where you may move about and gather stuff while personalising your avatar in Louis Vuitton fashion attire.

Additionally, 30 NFTs designed by artist Beeple were hidden throughout the game for players to discover.

Like many other luxury brands, Louis Vuitton is also exploring methods to attract younger audiences without requiring them to make a purchase.

Balenciaga and Fortnite

Balenciaga and Fortnite are two of the most popular video game franchises.

Balenciaga, like many other high-end fashion houses, has moved into the metaverse and was the first to take on Fortnite in late 2021. From the open-world video game's virtual store, players may buy digital clothes inspired by real-world Balenciaga items.

While the majority of the stuff had to be bought, some things, such as Balenciaga's Triple S Sneakers, could be unlocked.

The hub was only available for one week, during which time gamers may socialise, try on clothing in changing booths, and add the brand's merchandise to their inventory.

Additionally, to connect this to the real world, a collection of clothes will be accessible in select Balenciaga shops and on the Balenciaga website. To top it all off, fans who purchase Balenciaga clothes in real life will also be able to unlock Balenciaga costumes on Fortnite.

Balenciaga took it a step further with a DOOH activation in London, New York, Tokyo, and Seoul, creating a 3D billboard experience.

Roblox and Gucci

Roblox hosted the Gucci Garden in May 2021, a two-week art display aiming at increasing brand exposure among young buyers.

Gucci wanted to communicate its narrative ahead of its centennial with a virtual reproduction of a real-world display in Florence.

As with its real-world counterpart, the Gucci Garden in Roblox included a variety of themed chambers that paid tribute to the brand's ads while defying physics.

When guests initially enter the area, they may see, try on, and buy digital Gucci merchandise to adorn their genderless, blank avatars before proceeding to the themed rooms.

As they travelled across the virtual world, their avatars absorbed components from each location.The transient experience was created to garner attention for a brief period of time and to complement Gucci's 2020 debut of virtual products on Roblox.To guarantee that both the platform and the brand benefited from any virtual apparel sales, the products were sold on a revenue sharing basis.

Selfridges and Pokemon

Selfridges and Pokémon 2021 marked the 25th anniversary of Pokémon, and to commemorate the occasion, Selfridges, in collaboration with designer Charli Cohen and Yahoo RYOT Lab, built Electric/City, a virtual city where you could shop for special virtual and real merchandise.

Visitors would be immersed in a 3D environment inspired by the world's fashion capitals, where they would construct bespoke avatars to traverse the digital arena. These figures may be clothed in digital clothing and seen via Snapchat's augmented reality body-tracking lens, or they might be shared on social media and other virtual settings.

Selfridges also ventured into the tangible world with an in-store launch promotion that let consumers to sign up for a digital wallet in order to participate in physical easter egg hunts and win actual goods or Charli Cohen digital collectibles.