The key points
- The first Metaverse fashion week is held on Decentraland from 24 to 27 March
- Among the brands that have joined the initiative are Dolce & Gabbana, Hugo Boss, Hogan, Zanotti and Etro
- The fulcrum is the NFT but there is almost always an impact on the real world (and on the shop)
After New York, London, Milan and Paris in the fashion week calendar comes the one on Decentraland, one of the platforms – which is based on the Ethereum blockchain technology – through which the metaverse is being built.
The four days of virtual fashion (March 24-27) called precisely Metaverse fashion week (or Mvfw, to wink at the acronyms used to indicate the most famous events) is the first container of fashion events organized specifically for the metaverse and rides the wave that has seen fashion brands, in the last year and a half, launch special Nft collections, real estate investments, virtual showcases and more generally projects on the web3. In the wake of a change that began about 10 years ago thanks to social media, MVFW eliminates the barriers to entry to shows and events by opening the doors to all interested parties. To a new segment of customers who will bring money into the coffers of brands: according to Morgan Stanley, the virtual fashion market will reach 55 billion dollars in 2030.
The brands – many of which are regular names of real fashion weeks – welcomed the idea with favor and studied ad hoc projects to participate in the event: Dolce & Gabbana, Hugo Boss, Etro, Giuseppe Zanotti, Hogan, Dundas, Tommy Hilfiger and Philipp Plein are among them.
Fashion shows, exclusive capsules and NFT
Some fashion houses (such as Etro and Dolce & Gabbana) have chosen to bring (exclusive) digital creations into the metaverse using the fashion show format so dear to traditional fashion weeks. However, the leitmotif of many projects on the calendar are Nft (non fungible token): digital objects whose ownership is certified thanks to the use of blockchain technology that are now depopulated (and are creating more than a legal dispute) and are purchasable (and resalable) in cryptocurrencies.
Philip Plein, which recently invested 1.4 million to buy a retail space on Decentraland, will participate in MVFW with a mini collection (for a total of seven total looks) of virtual garments and accessories, in a limited series of ten pieces each, whose prices vary between 1,500 and 15 thousand euros. These are Nft wearable, that is wearable, which can be purchased by those who participate in the event parade organized in Plein Plaza. Followed by an after party, always virtual.