Writer: Nuttawut Kulkaew

Editor: Wittaya Wonglor

Fashion brands in the metaverse form 3 major groups:

- luxury brands that want to create a niche and private community

- mid-priced brands and fast fashion that want to reach as many customers as possible

- sports brands that try to make their products more fashionable by catching up with lifestyle trends and participating in pop culture

Fashion houses have taken various routes to get involved in the metaverse:

- Creating their own metaverse platform, such as Louis Vuitton created its own NFT game, Louis: The Game, in 2021.

- Launching a new company for investing in other metaverse companies or startups

- Interacting with metaverse platforms by acquiring space for an online marketplace/virtual store to increase sales channels, communicate a brand image, and create community engagement between brands and followers.

- Collaborating with metaverse platforms to release digital goods such as the NFT collections. Dolce & Gabbana's NFT collection “Collezione Genesi” was sold on the Polygon blockchain in September 2021 for $5 million.

- Organizing or sponsoring a concert or event. It is predicted that by 2030, over 50% of events will be fully online. Metaverse Fashion Week (MVFW), for example, featured Etro, Dundas, Paco Rabanne, Selfridges, Tommy Hilfiger, Guo Pei, Dolce & Gabbana, Philipp Plein, Hogan, Esteé Lauder on 23-27 March 2021 in Decentraland. The fashion show reached 108,000 people, so there are plans for a follow-up event on 18-21 March 2023 to demonstrate the connection between fashion in the physical world and the virtual world, to introduce new NFT collections, and feature Crypto Wallet, Avatar, and the advancement of virtual space and activity management.

A brand may choose a variety of methods to participate in a multi-platform metaverse:

- Ralph Lauren sponsored the Ralph Lauren: The Winter Escape festival on Roblox from December 2021 - January 2022 to showcase the brand and sell its gender-neutral clothing collection to user avatars. At the same time, other clothing collections are being sold on other platforms, such as Zepeto.

- Givenchy sells NFTs on Polygon Blockchain and has opened a storefront in Roblox.

-Nike created Nikeland in Roblox, while RTFKT Studios, a startup, was founded to sell its sneaker collection in the form of NFT.

Implications for the future:

- Existing fashion brands or houses that see an opportunity will invest in preparing and proliferating, including the opening of a subsidiary responsible for the metaverse division, in particular, or partnering, merging, or acquiring businesses in the same industry or others to create their metaverse fashion ecosystem.

- People in technical and metaverse infrastructure roles who are familiar with human experience design and behavior are likely to have more work opportunities.

- There will be an effort to increase quantitative data collection and analysis in anthropology and the social sciences so that authorities and the private sector may apply the information for future use.

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