Luxury group, OTB, has announced the establishment of a dedicated structure called the Center of Excellence for gaming operations, NFTs, and BVX (Brave Virtual Xperience) to focus on content development in virtual worlds. OTB, which owns popular brands such as Diesel, Maison Margiela, and Marni, intends to fully embrace digital experiences by creating products and projects in the digital realm. This move is in line with the group’s mission to engage with an increasingly connected consumer base.
The Italian group aims to tap into the potential of NFTs, virtual fashion, and gaming to connect with younger consumers and drive growth. According to a study by Morgan Stanley, these areas could make up 10% of the luxury goods market by 2030. By investing in these emerging sectors, OTB hopes to generate new business opportunities and accelerate its growth in the metaverse.
To spearhead this initiative, OTB has appointed Stefano Rosso as the CEO of BVX. His role will involve driving the digital transformation of OTB and its brands, envisioning a future where physical and virtual worlds seamlessly merge. Rosso, who is a member of the OTB Board, brings extensive expertise in the blockchain industry as a co-founder of Aura, a blockchain consortium that includes prestigious brands like LVMH, Prada Group, and Cartier.
As the luxury industry continues to adapt to technological advancements and consumers’ evolving preferences, OTB’s strategic move to establish the Center of Excellence for gaming operations, NFTs, and BVX demonstrates its commitment to innovation and staying relevant in the digital landscape.
Here are two useful links that provide more information on the topic:
1. Leading Luxury Group Embraces Digital Experiences
2. Study Predicts Growth of Metaverse in Luxury Goods Market
