The metaverse continues to infiltrate the high-end fashion industry, with Decentraland, one of the most popular emerging virtual worlds, hosting the Metaverse Fashion Week between March 24 and 27, which will include more than 60 brands, artists, and designers.
The participants and visitors are scheduled to attend a variety of runway shows, after-parties, immersive experiences, shopping, and panel talks, Decentraland said in a statement.
Per David Cash, Lead Curator of the event,
“We’ve sought to present fashion in every form possible, from runway shows to retail experiences, fashion presented as art, film, photography, and even fashion presented in ways that extend beyond the confines of reality—as, in the metaverse, anything is possible.”
During the show, a number of community-run neighborhoods within the new Fashion District will be opened to the public, with designers offering catwalks, panels, galleries, and more attractions to visitors.
Presented by UNXD and Vogue Arabia, the district will host iconic fashion and lifestyle brands such as Dolce&Gabbana, Etro, Elie Saab, Imitation of Christ, DUNDAS, Nicholas Kirkwood in partnership with White Rabbit, watchmaker Franck Muller, FaithTribe, Chufy, Jacob & Co, Monnier Frères, Gary McQueen, Mert Otsamo, Guo Pei, and AUROBOROS.
Inspired by the urban vibes of New York, Rarible Street will be populated with pop-up shops featuring brands such as Placebo Digital Fashion House, The Fabricant, Artcade @ Fred Segal with exclusive drops by Atari Hotels and Subnation, Perry Ellis America, Artisant in collaboration with PUMA, Miss J Collection by Crypto Couture, non-fungible token (NFT) artist Macr0matic, Fabeeo Breen, Girls Gang Label, The Immersive Kind, the exclusive collection of digital VAULT.swiss watches, as well as Fresh Couture, according to the event’s organizers.
In addition to the above, Parcel and MetaParty will jointly unveil their Parcel-MetaParty community precinct with fashion shows and talks, mini-games, DJs, music performances, and a parkour feature accommodated within a multi-level space.
It is noteworthy that fashion has established itself as one of the driving forces behind the virtual world’s NFT land sales. Last December, the Fashion Street Estate in Decentraland, which switched owners for MANA 618,000 (or USD 2.42m at that time), was the most expensive metaverse land plot NFT sale in 2021.
Last year, digital asset investment firm Grayscale Investmentsreleased a report in which it forecast that the metaverse could become “a trillion-dollar revenue opportunity across advertising, social commerce, digital events, hardware, and developer/creator monetization,” but it did not specify the time frame within which this growth could take place.
At 15:00 UTC on Friday, MANA is trading at USD 2.7, up 2.7% in a day and 10.3% in a week.
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