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The digital realm is constantly changing and has been offering new ways for businesses to stay relevant on the global stage, and the fashion industry is no different. Digital transformation in the fashion world has gained steady momentum. But the transformation has never been easy, and even the elite fashion brands have to face the challenges of digitization and stem opportunities out of it.

Thanks to Metaverse! The transition has been made easier with this latest technology by combining online and in-store shopping experiences to create a virtual marketplace. It has redefined online shopping experiences by establishing a life-like marketplace for individuals. Metaverse has empowered fashion brands to overcome the downside of online shopping and retail. The technology offers users a retail shop-like experience by allowing them to feel, try and touch apparel before buying them online. 

In fact, the fashion world has already started adopting Metaverse. Recently, the first-ever Metaverse fashion week was hosted in Decentraland – the 3D virtual world that has already taken the tech- ecosystem by storm. Exorbitant brands, like Roberto Cavalli, Ralph Lauren and Gucci, are already cashing in on Metaverse to promote their merchandise and reach new global markets.

These top brands in fashion are now leveraging Metaverse by selling digital fashion to users in the virtual world and using NFTs as a certificate of ownership. In a competitive business environment, it has appeared to be one of the most feasible ways to boost brand awareness and return on investments. If these facts about Metaverse in the fashion world have enticed you and attracted you to invest in it for your fashion business, keep reading this blog. 

When you finish this blog, you will be able to understand the ways you can use to step into Metaverse platform development for fashion and retail business.

 

Different Methods You Can Utilize to Enter the Metaverse Realm 

You can have completely new ways of interaction, work and online shopping with Metaverse platforms for fashion. Having a decentralized entity, Web3 will broaden its reach in the upcoming years. Moreover, the brands will experience digital evolution through the usage of NFTs and social gaming. Following are a few methods that you can use to enter the Metaverse to take your fashion business to a new level.

 

1. Enter the Space via Event Activations

Businesses that want to build a name for themselves in Metaverse fashion can enter there via event activations in video games. This is one of the most effective ways to establish your brand in Metaverse. Create digital events or fashion shows inside a video game world so that you can present your most recent collection to customers.

In 2021, Gucci and Roblox teamed up to invite numerous visitors to take an exclusive tour of their virtual Gucci Gardens. It not only allowed the company to redefine its marketing strategies but also paved the way for new technology to completely alter the demography of a fashion show. This was just one instance of the Metaverse and fashion industries working together to provide the viewers with something unique yet satisfying.

The epitome of fashion royalty, Balenciaga, came together with Fortnite to build game avatars that customers could purchase for their virtual selves in the online world. Other companies, including Dolce & Gabbana, Etro, and Elie Saab, also joined a metaverse platform for fashion and established their presence in the Web3 world. There are some top game app development companies that can help you create avatars.

 

2. Integrate NFTs Usage

It's difficult to make headway in the fashion industry Metaverse. You can offer a digital style of clothes to multiple users using NFTs. As a fashion house, you can use NFTs to launch your collection and give your target audience special opportunities. For instance, Dolce & Gabbana and UNXD recently partnered to develop the first premium line ever sold to customers with NFTs. By purchasing NFTs, the user had collectable products in both digital and physical avatars. Additionally, those NFTs gave them access to every show the brand will be hold in the virtual Metaverse in the future.

 

3. Include Cryptocurrency Payment

Entering the world of Metaverse is not a simple task. Therefore, it is advised to test all the options and offer your company the competitive edge it needs. For example, you can allow customers to pay for your products using Cryptocurrency. This will help your customers gain confidence in the authenticity of your products while preventing their counterfeiting.

Brands like Prada, Louis Vuitton, Hublot, Gucci, Balenciaga, and Cartier have started accepting payments in Cryptocurrencies as an alternative payment method. This practice has drawn millions of customers who like using digital currency to buy luxury items.

Now that you are aware of how to create your own space in Metaverse for fashion businesses, you can take the next step to establish your presence in the Metaverse world. You can find one of the top web and mobile app development companies to help you with Metaverse solutions, using various technologies and tools like AI, AR, VR, 3D Modelling, etc.