The metaverse is still arguably in its formative years, and its potential uses are still emerging. The fashion industry, however, has revealed itself to be leveraging the potential of the metaverse in unique and innovative ways. Using metaverses as a means of digitally showcasing fashion is just the tip of the iceberg for the trendsetting industry. At Starloop Studios and Magic Media, we’ve had the pleasure of being part of some innovative metaverse projects, and the fashion industry could reap large benefits from its usage.
Some financial analysts predict that by 2030, fashion brands taking advantage of metaverse spaces could be worth 30 billion dollars. With such a significant financial upside, it’s not difficult to understand why some of the world’s leading fashion brands are getting on board with the metaverse.
Creative Digital Fashion Shows
Fashion shows can be more creative than ever on digital platforms like metaverses. Fashion shows are some of the most innovative events in real life, which is apt considering the trendsetting nature of the industry. Without needing to be concerned with physical limitations, fashion shows in the metaverse have the potential to be more sensational than ever before.
Leveraging the metaverse for fashion shows can also make them more accessible to a broader number of people. Rather than relying on physical venues and ticket sales, fashion shows can be more open than ever. While more people will be able to attend these events, creative directors can be more creative than ever and take full advantage of the theoretically unlimited space provided by the metaverse.
Gucci has used the metaverse for shows to great success in the past. In 2021, the iconic brand partnered with Roblox to deliver the Gucci Gardens event on its platform. It was successful and considered a radical use of metaverse platforms.
Leveraging Existing Platforms
As Gucci and Roblox’s partnership shows, joining forces with established metaverse platforms can prove to be highly beneficial. This can be especially advantageous as an entry point into the metaverse for fashion brands. The notable brand Balenciaga did exactly this in a fruitful partnership with the popular metaverse game, Fortnite.
Their work together consisted of developing character skins for use in Fortnite that were also available for purchase in real-life. This allowed customers to bring their everyday sense of fashion into the metaverse and vice versa. Beyond the confines of Fortnite, the partnership also resulted in unique real-world advertisements, such as 3D billboards. Partnering with Fortnite allowed Balenciaga to leverage the platform’s existing and ever-growing popularity to establish a foothold in the metaverse space.
Cost Reduction
Without the need to invest so much in raw materials and physical spaces, fashion brands can reduce costs significantly by using the metaverse, as well as reduce brands’ carbon footprint. Without needing to be concerned about materials, this can give a brand’s creative team the freedom to experiment with their full creative skillset and ideas. The metaverse can represent a space of creative expression that the fashion industry hasn’t experienced previously.
Moreover, metaverses can enable designers to refine their work in a safe digital space before they enter production in the real world. Naturally, any fashion project would need to adhere to project milestones and deadlines, but using a digital environment can help save time in improving designs and showcasing them before submitting the final work.
Evolving Virtual Retail
In recent years, online shopping has become increasingly popular as more retailers and brands have embraced digital environments, to the benefit of customers the world over. The metaverse could be viewed as a further progression into improved virtual retail opportunities for customers.
It’s becoming increasingly common for brands to use augmented reality (AR) technology to provide customers with a more detailed and immersive understanding of their fashion choices and how they could look wearing them. More than ever, customers have increased control over how they see clothing in digital spaces. In addition to the standard size options, customers can select body type options with certain brands and retailers, allowing them to see their fashion choices more accurately and how they could look in real life.
The Dress Up feature by Snapchat is a great example of a popular platform engaging with the metaverse to the benefit of the fashion industry. Potential customers can use this as a tool to gain a realistic understanding of how clothing from a variety of retailers and brands will fit them before purchasing.
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