Introduction
The meta-universe is coming, can the fashion industry get a piece of the pie?
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Recently, according to media reports, Nike officially announced the opening of a virtual large flagship store "Nikeland" on Roblox. In "Nikeland", in addition to shopping in the store and decorating themselves with a variety of Nike custom products, customers can also play a variety of sports mini-games, and even use interactive sports materials to design their own mini-games.
The image is from Nike's official website
According to the official publicity of Nike, the construction color of the world of "Nikeland" is very cartoonish, with basketball courts, tennis courts, football fields, athletics fields, and a sci-fi Nike store, and a huge Nike logo floating in the air.
Nike said that the internal buildings and venues of "Nikeland" were directly inspired by Nike's real headquarters in Oregon, USA, which can be said to be Nike's global headquarters base in the virtual world. Corresponding to "Just do it", the main slogan of "Nikeland" is "Dream it. Make it. Play it.” Trying to expand the boundaries of the brand in the virtual world.
Last September, Nike appointed Andrew Schwartz, former director of innovation engineering, as director of meta-universe engineering and began recruiting multiple virtual material designers. With virtual space, virtual goods are naturally needed. On December 13, Nike announced its acquisition of virtual fashion platform RTFKT to continue expanding its presence in the metaverse. It is understood that RTFKT is a well-known manufacturer of virtual sneakers.
Fashion big names have entered the meta-universe
With the popularity of the metaverse, digital fashion began to advance by leaps and bounds. At present, a number of fashion brands have announced their entry into the meta-universe and launched related products and businesses.
Louis Vuitton
In 2021, in order to commemorate the 200th anniversary of the birth of the brand's founder, Mr. Louis Vuitton, launched the "LOUIS THE GAME" NFT mobile game, and in just one day on the shelves, it topped the download list of casual game apps.
Players take on the role of LV's iconic doll, Vivienne, and manipulate characters to adventure and search through settings set in paris, London, Beijing, Tokyo, and New York, looking for a total of 200 commemorative cards that represent the most important deeds of Mr. Louis Vuitton's life.
Balenciaga
Balenciaga's Fall/Winter 2021 collection launches After World's Video Game, allowing viewers to experience new outfits in the virtual world through the game.
In the game, players can choose their own avatars, with 50 modeled characters wearing Balenciaga Fall/Winter 2021 costumes to choose from.
Enter the game world of 2031 and enjoy the designer's masterpieces as you walk in the five areas of modern shops, bustling streets, rainy night cities, silent forests and wild mountains in an apocalyptic atmosphere.
Last September, Balenciaga also partnered with the game Fornite Fortnite to insert a branded co-branded collection of costumes in the game that characters can wear in the game. Balenciaga also opened a virtual store in the game to sell virtual costumes, which are sold in sync with the offline. Prior to that, Balenciaga had released its Fall 2021 collection as a gameplay video, with characters in the virtual world wearing the brand's new collection.
Later, Balenciaga also used the theme of "cloning" in the Spring 2022 collection, using techniques such as plane tracking, CG scanning, AI and 3D modeling to clone the face of model Elizabeth Douglas to different bodies.
Burberry
Burberry also plays the game. Burberry partnered with Los Angeles game developer Musical Games to launch its own NFT character, Sharky B, in the blockchain game Blankos Block Party.
This full-body TB Summer Monogram's sleek little shark, inspired by the brand's Animat Kingdom gene, can be bought, upgraded and sold in-game for about $300 a piece.
Players can collect backpacks, badges, shoes and other accessories in the game, dress up the ugly sharks, and realize the fun of raising babies. Competitive players can compete in battles such as racing and shooting, develop skills, improve combat effectiveness, earn coins, and have high playability.
GUCCI
In February last year, Gucci cooperated with virtual social platform Zepeto to create Gucci's dream villa. Users can purchase Gucci clothing, handbags, shoes, etc. within the Zepeto app (of course, the price is very touching) and wear them for the 3D avatar.
In March, Gucci released its first digital sneaker, the Gucci Virtual 25. Designed by Gucci creative director Alessandro Michele, these sneakers, priced at $78, are presented in AR form.
In May, Gucci developed the Gucci Garden space with the game platform Roblox. In the virtual space, users can spend $1.20 to $9 on collectibles and limited-edition Gucci accessories, "dressing up" themselves as avatars on the platform.
In August, Gucci unveiled its first digital Dionysian pack on the gaming platform Roblox. The first person to sell bags in the metaverse was probably Gucci. The bag started out for only $5, which equates to $30.
Even to celebrate the brand's 100th anniversary, Gucci made the first NFT digital encryption art film. The 4-minute short film was auctioned off for $25,000.
Givenchy
Last June, Givenchy launched its first NFT virtual production. The series was created by Givenchy, London gallery owner Amar Singh and artists from The Rewind Collective, in the form of animated portraits. It is understood that the NFT series of virtual artworks will be released on the VeVe platform from June 21 to 26, with a limited edition of 1952 pieces, and the proceeds will be used to support the LGBTQIA+ community.
Then in November, Givenchy Gavenchy collaborated with digital artist Chito to launch the NFT collection, containing 15 different versions, to promote the brand's spring 2022 updates.
Adidas
On November 23 last year, the blockchain-based virtual game world "The Sandbox" announced that Adidas would build an "adiVerse" in the Sandbox metaverse. Subsequently, adidas Originals announced a partnership with cryptocurrency exchange Coinbase to enter the metacosm.
On November 29, Adidas took the lead in cooperating with the NFT project Bored Ape Yacht Club, NFT comics Punks Comics and NFT collector G-Money to launch "Boring Ape", which attracted much attention.
On December 17, Adidas launched an NFT series of adidas Originals costumes, officially entering the metaverse under the name of "Into the Metaverse". It is reported that NFT buyers will get "digital and physical" Adidas products and their experiences, among which physical goods will include Indigo sportswear, hoodies printed with blockchain addresses and orange beanie hats.
2021 is the year the fashion industry enters the meta-universe. According to The State of Fashion in 222 published by McKinsey and Fashion Business Review (BoF), online business models have been a resounding success during the pandemic. The report predicts that in 2022, businesses will continue to invest in the field of digital innovation and experiment with new creative and business forms. Digital assets such as NFTs, game skins, and virtual fashion will move closer to the mainstream, and some brands will expand into the realm of the digital metaverse.
According to foreign media reports, the most profitable thing in the metaverse is the NFT commodity, and its most attractive thing is that the profit margin is very high, "after all, the cost of making a digital watch or handbag is much lower than that of a physical watch or handbag." ”
According to Morgan Stanley, the global NFT market size will grow to $300 billion by 2030. Among them, luxury goods groups may profit from NFT merchandise sales of 10 billion to 15 billion euros, accounting for 10% of the global luxury market.
For the current problem that many fashion brand companies are actively entering the meta-universe, Yu Chen, co-author of the Meta-Universe Token and co-founder of E-Bao Payment, said that many brand companies aim at virtual items and actively enter the meta-universe, the reason is that there is a set of mechanisms in the meta-universe, which can ensure the uniqueness and scarcity of virtual items through blockchain and NFT technology.
Bai Shuo, president of the Hang Seng Research Institute and former chief engineer of the Shanghai Stock Exchange, believes that from blockchain to NFT to metaversity, it reflects the efforts of human beings to introduce economic activities in the virtual world and thus introduce real value.
"The impact of the epidemic has objectively promoted the transfer of offline activities to online, such as concerts and brand store sales to the virtual world where the meta-universe is located." Pan Helin, executive dean of the Digital Economy Research Institute of Zhongnan University of Economics and Law, believes that brand store sales emphasize immersive experience and social networking, so it will accelerate the layout of the metacosm.
Yu Baicheng, president of Zero One Research Institute, said frankly that the meta-universe has created human activities in the virtual world, and people's appeals to clothing and brands in the real world will still exist in the virtual world, and even due to the diversification of clothing and brands in the virtual world, there is a greater need for design to meet the needs of the spiritual level, so its needs may be stronger. Yu Chen said, "Whether an item has intrinsic value, not whether it is virtual or physical, but in people's consensus and scarcity, with the development of science and technology, virtual items in life will account for more and more high." ”
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