Virtual fashion week is coming! In the metaverse. Decentraland will host the first fashion week, which will take place on its platform in March next year, right after the IRL catwalks presentations end in major fashion cities like Paris, Milan, London, and New York.
UNXD and Decentraland have partnered to host the event. This is a curated marketplace of digital culture. It’s better known as the company which recently hosted Dolce & Gabbana’s first NFT clothing collection. Gabbana’s NFT first clothing collection.
Decentraland and UNXD both tweeted separate invitations to fashionistas, designers, and brands, inviting them to participate in a week of pop up shops, catwalk shows and after-parties. They also launched the hashtag #mvfw2022.
Fashion in the metaverse: Why it is gaining ground
Virtual land in Decentraland’s Fashion District was recently sold for 2.4 Million Dollars. According to Market Insider, the digital fashion industry in the metaverse is valued at 1 trillion USD per year.
From Gucci to Balenciaga, luxury fashion brands have experimented with digital collections and partnerships. These include Roblox, Fortnite, and dressing avatars, and selling NFTs.
Lorne Sugarman, CEO of Metaverse Group, which brokered the Fashion District land sales, said that “we think the Fashion District purchase feels like buying on Fifth Avenue back during the 1800s…or the creation of Rodeo Drive.”
In recent months, the metaverse has witnessed a lot of fashion activity. Fashion businesses are embracing the opportunities created by virtual worlds, Augmented Reality and internet services. They focus on immersive virtual experiences as well as digital collections.