Metaverse Fashion Week is happening. Does it even matter?
March 28 marks the start of the second annual Metaverse Fashion Week (MVFW). The events of this year’s showing will run until March 31 on the Decentraland site.
Decentraland is a 3D virtual world browser-based platform. In this landscape, users buy virtual plots of land in the form of NFTs, through the use of cryptocurrency. In collaboration with the curated NFT marketplace provider UNXD, Decentraland’s MVFW provides a space where fashion can broaden its depths within the digital world. There are over 60 brands taking part in this year’s show, ranging from DUNDAS to Diesel, DressX to Coach, and Dolce and Gabbana to DKNY.
What is still left to be answered is whether or not this event is wholly necessary. With a market downturn in the world of cryptocurrency, MVFW, and events like it may be left without a true purpose, thus begging the question, does it even matter? According to investors, it still does, with DressX recently announcing it raised $15 million in investment.
“Paris, Milano, New York, London, and now, Decentraland – high fashion has gone virtual” writes MVFW on its site. “During March 28 to 31, Metaverse Fashion Week will be bursting at the seams with runway shows, after-parties, immersive experiences, shopping and much more.”
The theme of this year’s show is “Future Heritage,” a theme meant as a “challenge to connect the next generation of creators and traditional fashion designers, showing the potential of fashion to bridge realities and worlds.”
Last year, MVFW was home to 108,000 attendees, and during its five day run over 7,000 pieces were bought, garnering an impressive revenue of nearly $77,000. For its second go around, buyers can now purchase using a credit card, not needing to abide solely by cryptocurrency like last year’s event. On top of that, items are being sold which are not kept within the bounds of Decentraland, meaning real-world wearables are on the market on top of those in the virtual space. This year will also host a welcome area for first-time attendees, with maps guiding users to the brand of their choosing within this Metaverse space.
Adidas will be making its debut at this year’s show, hosting an event on March 29, MVFW’s designated streetwear and retail day. As part of this event, buyers will be able to try on their Virtual Gear collection, first launched in November 2022, and have avatars wear them within Decentraland. This would mark the collection’s official entrance into wider availability, as it is currently exclusive to Picture for Proof (PFP) locations, like Bored Ape Yacht Club.
Tommy Hilfiger is another major player at this year’s showing, and will be hosting events on each day of the week. The most interesting of these is an Artificial Intelligence design competition within Decentraland. In this competition, users will need to use the world’s creator tools to craft a digital piece of fashion which reflects the collegiate style Tommy Hilfiger is so well known for. Whoever wins gets to have their submission be crafted by DressX as a collectible, and will become a wearable within Decentraland.
If you or anyone you know is interested in the show’s events, it is open to the public, free of charge.
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Thomas Publow is a contributor at Glossi Mag. Currently finishing his degree in journalism from Toronto Metropolitan University, Thomas considers himself an expert in all things VMAs and Beyoncé.