As designers dive into the metaverse, into the creative freedom it grants, will fashion intensify? Swap window shopping for a sneak peek at the new range
As designers dive into the metaverse, into the creative freedom it grants, will fashion intensify? Swap window shopping for a sneak peek at the new range
At the Dolce & Gabbana fashion show, feline models show off quirky prints on a runway that have a galactic vibe. Viewers shop for huge real estate, top labels, and non-fungible tokens (NFTs). They participate in panel discussions and post-show shindigs in this immersive, silhouette-meets-simulation, virtual environment.
this could be you. And you could be among those guests who cheer the cat-walkers from the front row!
A general view of the Etro fashion show during Metaverse Fashion Week on March 25, 2022. , photo credit: Getty Images
The world of fashion is witnessing a seismic change globally and the metaverse is emerging as an exciting playground for designers, collaborators and consumers. Metaverse Fashion Week organized by Decentraland, the first of its kind held in March this year, featured an unending futurescape where the likes of Dolce & Gabbana, Etro, Tommy Hilfiger and Estee Lauder launched their lines and vendors sold virtual clothing and NFTs. Blockchain world. This reality-transit limit demanded a rewrite of the rules for online-offline touchpoints.
More than a dozen global high-fashion brands have dive deep into the metaverse, which is based on technologies such as augmented reality, virtual reality and crypto tokens.
backstory
A portmanteau of meta (Greek meaning beyond or later) and universe, the term ‘metaverse’ has its origins in the 1992 sci-fi novel “Snow Crash” by American author Neil Stephenson. In the novel, humans drift between their real lives and the metaverse, a virtual world of programmable avatars, hackers, and zooming commercials.
In 2011, American science-fiction novelist Ernest Cline created a dynamic virtual universe called The Oasis in his dystopian novel Ready Player One. In the book, which was adapted into a film by Steven Spielberg, poor people affected by cataclysmic changes in the real world escape into a fictional realm of video games. They embark on an obsessive virtual reality ride, win digital currency, buy goods and enjoy unexpected experiences.
A few months ago, Ralph Lauren partnered with the Metaverse and gaming platform Roblox to highlight “Winter Escape,” where shoppers could ice-skate while buying retro sportswear. Gucci launched its artistic Gucci Garden, an immersive 3D take on its real-world installations in Florence, where visitors can transform into mannequins and walk around in awe-inspiring spaces. Balenciaga launched a new line of clothing through “Afterworld: The Age of Tomorrow,” a video game set in 2031. To mark its second century, Louis Vuitton rewrote its story through “Louis the Game”, where players collect items and customize characters. Louis Vuitton Outfit. The surprising elements in the game are NFTs placed by artist Beeple for players to spot.
In India too, designers are moving to this tech-driven reality-fantasy interface, albeit with caution. “Everyone is exploring this digital space, but Indian consumers do not fully understand its nuances. It is an obscure place now,” says veteran designer Anamika Khanna, who launched herself in this new market with NFT in February.
Pankaj and Nidhi
Pankaj Ahuja, designer of Pankaj and Nidhi label, who has weaved interesting fashion legends for over 15 years, also dropped some NFTs earlier this year. “We are following developments on the global scene, but for our next step, we want to wait and see. The fashion industry in the country is slowly recovering from the pandemic-induced lull. So for now, Everyone is trying to keep their businesses together,” says Pankaj.
But having said that, designers are certain that the Metaverse is a compelling platform for consumer engagement. Khanna explains that Meta Fashion involves understanding the mindset of young consumers bound online. “It’s a different ball game. For designers, it’s an opportunity that provides them with an opportunity to take risks by allowing them to be as creative as possible,” she says. “What I have seen and the way social media has influenced fashion, people are looking for imagination. They want dramatic, unusual looks that allow them to stand out. The metaverse will play into this fantasy element. It’s just a matter of time.”
NFT, Pankaj and Nidhi
In the Indian context, virtual clothing may seem far-fetched right now. But, as Ahuja points out, “Who would have thought two decades ago that social media, streaming platforms and online shopping would become an integral part of our lives. This is the next phase of the digital revolution.” He further added, “After creating the physical fabric for the runway, it will be a different experience for us to design the digital version, allow for customization in the immersive space, and then work on the physical presentations. Will give us more flexibility. Designers can also launch a percentage of their collections digitally, and based on feedback create physical clothing. This will allow customers to pose in digital attire (without their ownership) for photographs. The opportunity will open up. Again, all of this will take time.”
Decoding fashion in METAVERSE
The Metaverse is a virtual space where you can socialize, shop, play and participate in activities. It is a computer generated environment that mimics the real world using technologies such as virtual reality and augmented reality to give an immersive experience to the visitors.
You can move around this space, interact with co-users and shop for brands/NFTs using Metaverse tokens from crypto wallets. Many luxury and high-street brands in the West are already part of this universe, launching collections, exploring creative collaborations and promoting shows there.
In India too, many companies are exploring the option of having virtual storefronts with immersive experiences. Tanishq recently launched its “Romance of Polki” line on Metaverse.
The path to virtual glamor doesn’t have to be mess-free. Watching a Metaverse show, I wondered whether a simulacra like this one needed a gaming computer with excellent graphics card to enjoy the experience. Plus, it felt far from the real world. It almost felt unnatural to interact and impulse-buy online with imaginary people you can’t even hold in your hands!
Atul Malhotra of Evolve Clothing Company has a candid view about this non-tactile experience, “The fashion world has just opened its doors to the metaverse. But the big question is whether it’s a marketing platform — like how Balenciaga used The Simpsons for its last virtual show — or whether customers will start adopting it on a long-term basis. ,
Stating that India is “still a lot about touch-and-feel”, he says Indian online luxury platforms need to mature at this point as well. “Right now, the metaverse is still a marketing gimmick. Luxury is a lot about perception and aspirational demand. It’s about the status that comes with ownership. How long will a virtual Birkin be in the hands of the customer more than a physical one? Will it be worth it?”
A general view of the Etro fashion show during Metaverse Fashion Week on March 25, 2022. , photo credit: Getty Images
Gamers used to create aspirational avatars, buy virtual currency and unlock clothes and gifts to help them progress in their games, however, they have a different look. “I think zoomers will be innately attracted to this universe, which rocks with innovations and swings with the Mercurial crypto market,” says Riya Gupta, an economics student. ) and dematerialized (an ‘experiential market’ creating a ‘new reality for fashion’). “I love the idea of hyper personalization, and virtual platforms promote it. I can try on even the most risky outfits here.”
While the metaverse fashion may seem intimidatingly abstract to mainstream people who like to play safe, especially after the recent carnage in the crypto market, Vikram Subbaraj of Giotas crypto platform, seems to have an encouraging note, “There is a lot of volatility now. It will also have a huge impact on the growth of the metaverse. The cryptocurrency is a enabler in the metaspace and given the current rate of worldwide adoption and continued interest, the price is likely to bounce back soon.”
A general view of the Etro fashion show during Metaverse Fashion Week on March 25, 2022. , photo credit: Getty Images
They believe that there is an opportunity for fashion brands and companies in India to push boundaries and impress customers with innovative offerings that stand the test of time and technology. “Brands must curate and create their fashion bouquets to appeal to the tastes of their Metaverse customers,” he says. (Scroll down to read the interview)
As of now, most of the Indian designers have decided to put the new Frontier on stand-by mode. “Let’s keep it real, at least for now” seems to be their collective stance.
But, the metaverse is attractive because it defies the rules. It allows you to explore unlikely realms and experiment with new identities in a limitless, empowered universe. We are at the beginning of an era. It is too early to comment on how this will develop, just as it was difficult to understand the impact of the Internet in 2000. As Vikram points out, “Current social media is two dimensional. The future could be a 3-D environment where people are represented by their avatars. The future is definitely the metaverse. It’s just a question of when and how.”
Is the Future of Fashion About the Metaverse?
Vikram
Jiotus crypto platform CEO Vikram Subburaj discusses the pros and cons of investing in Metaverse
Do you think the Indian fashion industry is ready to explore the metaverse?
The metaverse is an immersive digital space and Gen-Z is already embroiled in it. They play, shop, manage relationships and even get married in their meta-avatar. So, fashion will certainly be an integral part of the metaverse that is evolving.
Are Indian customers ready to spend money and time on virtual avatars and clothes?
It all depends on adapting to the metaverse. Already, Millennials and Gen-Zs are spending a lot of time online rather than offline. Although there are concerns over the free fall of some crypto assets, users are quite aware of the risks and opportunities. Plus, fashion and textiles in the metaverse have to combine a bit of science and fantasy. Let’s say, there could be a dress that changes color when someone dances or a jacket that grows feathers in a dream. So, the general assumption is that there will be a lot of informed activity that will be paid for.
As an investment, what is the potential of NFTs?
There is already a lot of activity in space. Big brands are vying for their edge and are eyeing long-term gains. The space is also open for small players and if the work/NFT of an artist or producer is noticed, there is no restriction on its development.
Similar to crypto markets, market pricing for NFTs can be volatile but they will increase over time as a general rule. It is a place of immense opportunity.
What kind of opportunities do you see for designers and consumers?
Designers can create labels and brands specifically for the metaverse. And, due to the nature of blockchain, these brands are easily verified (unlike the real world where we may encounter counterfeits). In terms of transactions, a costume that a user buys offline will bring an associated NFT to the online world that one can use for their avatar.