Industry Updates

METAVERSE: THE FUTURE OF FASHION

Published: August 2, 2022
Author: Fashion Value Chain

Digital fashion has gone from an emerging to a niche industry. As technology and knowledge improve, so does the data-backed understanding of what people want to buy and wear virtually. Social media platforms like Facebook, and Instagram have introduced us to the metaverse. Metaverse style is taking shape. As the fashion industry becomes more rooted in the metaverse, and younger generations spend more time shopping, socializing, and playing in Metaverse, it’s critical that retail and fashion brands understand how to tap into the opportunities in front of them. Around 8% fashion industry already uses metaverse making up to US $3.736 Billion annual revenue in 2021.

Fashion designers can construct their own virtual 3D models of clothing in Metaverse using augmented reality and view them on smartphones and tablets. People will be able to digitally try on clothing in the metaverse before making a purchase. Therefore, while learning digital tools, designers and businesses need to grasp how to communicate with their target audience. Unlike an online store, there are more options for shopping here. Products can be visually seen, touched, and experienced in the same way as if you were actually there. Customers will be able to try on several ensembles and see how the garments will appear in real life by simply utilising the camera on their mobile.

The metaverse is a decentralised virtual reality platform that revolutionises how we use technology by fusing the virtual and real worlds. As fashion permeates the metaverse, it can be divided into two categories: fully digital fashion, which is sold directly to an avatar, and hybrid fashion, which combines physical and digital elements. Hybrid fashion is digital clothing that a person can wear while utilising augmented or virtual reality. The majority of these clients are currently found playing video games. Fashion houses must work with the gaming sector because there is a significant economic possibility there. Smaller designers will find it simpler to enter the market thanks to the metaverse.

Related Posts

Ind-Ra Affirms IDFC First Bank’s Debt Instruments Ratings with Stable Outlook