In a new series from Glossy, we take a look at which brands entered the metaverse in the last month, why it matters, and what they bring to the table. Here the metaverse is defined as the future of the Internet, a shared 3D virtual universe in which users can exist perpetually.
The next generation of this online reality will be through many metaverses that all have different characteristics and communities, as we wrote about this month in our NFT Explainer. According to Gucci, the brand of the moment is “only a matter of timebefore major fashion houses got into non-fungible tokens (NFTs) and other aspects of digital fashion. digital in their collections.
Here we have a look at five brands that have taken the plunge and entered the metaverse’s digital door.
D&G: Digital NFT drips in the brand’s signature sumptuous style
As we covered at the beginning of last month, D&G has come under fire for discrimination, primarily through its statements on social media. The Collezione Genesi, or Genesis Collection, was his first collection that also included NFTs, or non-fungible tokens, that could be bought and traded digitally. It fetched around $5.65 million when its auction ended in late September, but news of the sale came out later. The collection was hosted by the luxury market UNXDwhich works on the Polygon platform that makes it easy to build and connect blockchains.
why is it important: UNXD’s D&G drop was the first ever from a major luxury fashion brand to include NFTs. While other brands (see below) have worked with gaming platforms on NFT, this was the first to come directly from a luxury brand. While D&G doesn’t have the best branding and entered the space first, that shouldn’t deter others from creating their own NFT collections.
Rebecca Minkoff: A NYFW Rebirth Through NFTs
To match the brand’s ‘I Love New York’ collection shown at New York Fashion Week this season, Rebecca Minkoff worked with the digital market The dematerialized and yahoo over 400 digital garments. They sold at auction at OpenSeaa peer-to-peer marketplace, in 10 minutes. The NFT’s gallery, featuring 10 photos of models in the brand’s outfits and five digital garments, was created by yahoowho worked in partnership with the brand.
why is it important: This shows a different approach to building digital collections via a media buy by Yahoo, for which this is their first NFT collaboration. The entire NFT collection was built in-house using Yahoo’s immersive XR platform. Rebecca Minkoff is known for working with alternative platforms like Clubhouse and Only Fans, and is an avid explorer of the digital space. More importantly, the collection was also a charitable endeavor, since all of the proceeds from the sale were donated to Founding Women’s Collective.
Balenciaga: The big drop in Fortnite
Rather than an NFT collection, the Balenciaga x Fortnite collaboration was a definitive entry into the immersive gaming that is Fortnite. There, online communities rule and digital clothing comes in limited-edition drops, boosting the value of highly sought-after pieces. Balenciaga isn’t necessarily a new entry into the gaming world, as its Fall 2021 collection was showcased in a closed gaming environment called “Afterworld: the era of tomorrow“, created using the Unreal Engine. However, the direct entry into the game world is something that has not been seen much since users began to create high fashion collections in “Animal Crossing” at the start of the pandemic. Brands soon joined – and, in fact, some brands always creating fashion for AC.
why is it important: Balenciaga has been quick to embrace new formats, but even it hasn’t created its own NFT collection or brought a bigger brand presence into the metaverse space. Will his approach be the marker of how other luxury fashion brands navigate digital?
Charli Cohen: Creating a Pokemon Shopping World with Selfridges
To celebrate 25 years of Pokémon, the clothing brand Charli Cohen has launched a digital shopping experience in a digital space with Selfridges, the high-end British department store. The immersive digital shopping experience was accessible via phone or browser, while an in-store pop-up allowed shoppers to use AR to walk around the store and search for prices. Developed by Yahoo Ryot Lab, the “Electric City” and Kaleidodrip collection echoes an environment similar to that of the latest Pokemon movie.
why is it important: Selfridges is one of the first malls to get involved in AR through a dedicated space, and the collaboration allows it to reach different consumer bases, from long-time gamers and Pokemon fans to traditional fashion consumers at through charlie cohen. Shopping experiences are already seeing an evolution as stores become more experiential, and this collaboration allows fantasy to enter the IRL. If the exploration aspect is limited, it shows the possibilities of digital for the more traditional framework of the retailer.
Clinique: A beauty NFT as a prize for social commitment
Clinique launched its first NFT last week with a social media campaign contest, allowing participants to win one of three NFTs inspired by the brand’s most iconic products, Black Honey and Moisture Surge. He also granted early access to the store Black Honey Almost Lipstick (once back in stock) and produced through an assortment of Clinique products delivered once a year for the next decade. In his posts on Instagram, TikTok and Twitter, users were asked to respond: “How do you bring hope and optimism to the people around you, and who makes you smile?” for a chance to win by tagging #MetaOptimist, #Clinique and #Contest in the caption. The campaign is unique in that it targets existing users of the brand, bringing them into the digital space. He even tapped Cathy Hackl, CEO of the Futures Intelligence Group, to help co-develop the downside strategy.
why is it important: The brand is one of the few to have regained popularity thanks to cult products praised on social networks. He used the contest to build on his organic following across all platforms. It’s a smart move that shows the brand’s commitment to the space. Clinique is the first brand in the Estée Lauder Companies portfolio to launch NFTs. The initiative reflects the company’s industry-leading commitment to blockchain technologies and its desire to meet its consumers where they are.