Luxury fashion brands are increasingly embracing the virtual world as they dive into various initiatives within the metaverse. With fierce competition among brands to showcase the most original projects, the digital landscape is becoming a playground for innovation.
One notable example is Philipp Plein, who recently invested €1.2 million to acquire a large plot of virtual real estate in the Decentraland metaverse. Meanwhile, Gucci has secured digital space on The Sandbox, a video-gaming site in Hong Kong. Through these virtual platforms, Gucci plans to offer immersive experiences to its audience.
Leading luxury houses like Louis Vuitton, Balenciaga, and Gucci have paved the way by dressing up characters in video games with their digital fashion offerings. This trend has inspired other brands to follow suit. Prada, for instance, has launched a series of virtual outfits and equipment within the extreme sports video game Riders Republic, under its sportswear line, Linea Rossa. Additionally, Prada is organizing a multiplayer event titled ‘Prada Beyond the Line’ within the game.
In the past year, luxury labels have also embraced the popularity of non-fungible tokens (NFTs). These certified digital assets serve as unique certificates of authenticity, allowing brands to create exclusive digital models coupled with physical originals. However, the presence of NFTs has not deterred others from replicating renowned luxury brand products virtually and selling them online.
Regardless, luxury brands are eagerly venturing into the digital space. Dolce & Gabbana, AZ Factory, Givenchy, Balmain in collaboration with Barbie, and Prada with Adidas have all developed their own NFTs. Kenzo has also joined the movement by creating 100 NFTs alongside Creative Director Nigo’s first capsule collection. These NFTs will be distributed through a lottery draw to customers who own a physical item from the collection and are registered on the Kenzo website.
Ambush, a Japanese label by Yoon Ahn, is also exploring the virtual realm with its ‘Reboot’ collection, consisting of 2,200 NFTs featuring 3D reproductions of rings inspired by the brand’s iconic Pow! design. Ambush aims to foster a metaverse community for its fans, granting exclusive access to online events and special deals for NFT owners.
Gucci has been particularly active in the virtual space, launching SuperGucci, a series of NFTs sold on its Vault site in collaboration with Superplastic. These NFTs are accompanied by physical figurines. Gucci is transforming Vault from an e-concept store into a digital experience venue and has also joined Discord and acquired virtual land on The Sandbox, further exploring the possibilities within the metaverse.
Other luxury brands are quickly following suit. OTB, the group that owns Jil Sander, Maison Margiela, and Marni, has established BVX (Brave Virtual Xperience) to focus on metaverse developments. Balenciaga has also announced plans to create a dedicated virtual department. The race to conquer the metaverse is just beginning for luxury fashion brands.
Useful links:
1. [Decentraland](https://decentraland.org/) – Learn more about the Decentraland metaverse.
2. [The Sandbox](https://www.sandbox.game/) – Explore The Sandbox, a video-gaming site where luxury brands are venturing into the virtual world.
