The fusion of fashion and the metaverse
The post-epidemic period is a period of high-speed digital transformation in the fashion industry. Brands are eager to establish closer connections with the new generation of consumers through cross-border games, 3D fashion, virtual models, and online fashion weeks. At the same time, “virtual clothing” has also become the hottest outlet in the fashion industry.
Virtual clothing, as the name suggests, is clothing made with modern digital computer technology and 3D software.The properties of virtual clothing make it easy for anyone to wear the pieces and materials of their dreams. The digital fashion constructed through the virtual digital environment can satisfy the exploration of fashion avant-garde, save energy and reduce damage to the environment.
Digital fashion customers usually belong to Generation Z and millennial consumers who grew up in the digital age. They pursue new trends and are eager to express their fashion attitudes through the front-end approach of “digital fashion”.Social media platforms have provided a stage for digital fashion consumers to “show their talents”, and have also brought digital fashion into the public eye.
Nowadays, many brands tend to create a model of “fashionable way + head KOL” in an attempt to further expand the publicity effect.
Fashion has long been a social function, a statement, a way of presenting itself. As the saying goes, “people rely on clothes and horses rely on saddles”, what the brand wants to grasp is the psychology of people relying on clothing to show themselves, whether in reality or in the virtual world.
For those who prefer online consumption, they like immersive experience and appreciate that virtual fashion conveys the concept and attitude of equality and inclusiveness, and abandons the mainstream size and aesthetic standards. Virtual clothing gives more ordinary people the opportunity to try boldly, satisfies their curiosity, reduces the fashion cost of realizing the trend, and obtains a sense of identity in the private domain in terms of aesthetics.
And for brands, it’s also very profitable. According to Morgan Stanley, by 2030, the Metaverse could expand the addressable market for luxury brands by more than 10%, bringing in more than $50 billion in revenue.
Rolling out virtual clothing means eliminating the need to source raw materials, pay for labor and shipping. At the same time, the brand side has a large number of finished products that can be used as templates for virtual fashion, whichreduces the design cost . In addition, virtual clothing is also more environmentally friendly. Compared with producing real clothes, making a virtual clothing can consume 97% less carbon and 872 gallons of water, and brands do not have to face the problem of handling inventory at the end of the season.
In conclusion, digital fashion is an opportunity to redefine business models and build a more sustainable and progressive future.
Pacific is a decentralized NFT marketplace and an integrated platform for metaverse/GameFi assets. The project has received endorsement from some of the most eminent institutions and investors, including the Web3.0 Foundation, NGC, Gate.io, Krypital Group, PAKA, Candaq etc.