Gaming, 3D technology, NFTs and artificial intelligence are invading the fashion industry as the next generation of consumers is spending almost half of their daily life online. Luxury fashion is taking note and starting to embrace the full potential of the cyberspace.
At the end of October, Facebook founder Mark Zuckerberg announced the social media platform’s transformation into Meta and his plan to spend billions of dollars to build the metaverse, an immersive digital universe where avatars and virtual closets can take shape. According to DFC intelligence, there are now more than three billion people who spend time in gaming and could be turned into potential customers as 50% of US consumers are already interested in purchasing a digital asset.
There are now more than three billion people who spend time in gaming and could be turned into potential customers
DFC intelligence
The first partnership between a luxury house, Balenciaga, and the gaming giant Fortnite saw virtual clothes and accessories as well as physical products go on sale simultaneously to bring the two worlds closer together. The companies have also put up 3D billboards in main cities from Tokyo to New York showing a humanlike dog wearing the creations, which are replicated in the game’s creative hub where players can also stage their own fashion shows. Elsewhere, Louis Vuitton launched an interactive gaming app this summer that pays homage to the maison’s founder and enables players to compete with their friends worldwide and match their skin to the print of their favourite LV bag.
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