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- 👗 Ready Player Me’s AI avatar creator gets you fashionably dressed 👗
👗 Ready Player Me’s AI avatar creator gets you fashionably dressed 👗
Pinko’s 1st metaverse store, Lucy the virtual model for Vivienne Westwood, plus more top stories
Metaproof Team
February 07, 2023
🕶 Metaproof Fashion
Gm fashionistas! This is Sophia from 🕶 Metaproof Fashion, the weekly newsletter where we keep you informed on how the metaverse & web3 are changing the fashion industry.
Stay informed via our Twitter and Subscribe here to get your metaverse fashion news every Tuesday!
💌 A quick thanks to our friends…
This edition is sponsored by the OG metaverse fashion peeps The Fabricant. They have been deep down the metaverse fashion rabbit hole since 2018 and are pioneers in every sense of the word. They are on a mission to change the fashion industry and are making great progress - check them out today!
📲 By the numbers
In the US, an estimated 47% of consumers have a good understanding of the concept of the metaverse, which should encourage marketers to become proficient in it to reach their target audience. (Source)
Industry experts predict that by 2026, a minimum of 25% of the global population will spend at least 1 hour per day engaging in digital activities in the metaverse, such as work, shopping, education, socializing, or entertainment. (Source)
Some 30% of companies and organizations across the world will have metaverse products and services by 2026. (Source)
Ad spend in the metaverse is projected to reach between $144B and$206B by 2030, representing a significant opportunity for brands looking to reach consumers in new, innovative ways. (Source)
📫 News & trends
Ready Player Me is pushing the boundaries of avatar customization with its latest feature: generative AI letting players create their own unique outfits. As the default provider of digital avatars for the metaverse - with more than 6,000 apps and games already signed up - Ready Player Me is poised to be the go-to platform for players looking to stand out in virtual worlds.
With the power of Dall-E's generative AI art platform, players can craft individual outfit pieces to their exact specifications, giving them even greater control over their digital appearance.
“We’re just launching RPM Labs, which is like the experimental part of the product where we try all kinds of new features, and this is the first version of that,” noted CEO Timmu Tõke, to GamesBeat. This new development is deemed a major step forward for avatar customization and an exciting development for gamers everywhere.
Fashion brand Pinko has launched its first virtual store, developed by Emperia, to celebrate the opening of its new Milan boutique. The virtual store mirrors the physical store and aims to drive brand recognition and tap into new female communities. What to expect:
Two vibrant, futuristic pink floors boasting an array of brand-new, specially designed handbags
Customers can purchase from Pinko Galleria, exclusive to this experience, directly from the metaverse store while experiencing, interacting with, and learning about them via 3D modeling
Emperia develops immersive virtual stores for the retail and fashion sectors, powering a virtual store development and management platform to create virtual experiences that extend physical spaces into the metaverse.
The Fabricant, a digital-only fashion house specializing in 3D apparel design and animation, has partnered with Iranian-Dutch singer and songwriter Sevdaliza to launch an NFT accessories collection called XXories. Themed ‘’Embrace your ugly, flaunt your flaws, celebrate your weird,” this collection features metaverse earrings, nose chains, and facial piercings that can be accessed via augmented reality (AR).
With its unique shapes and designs, the XXories collection accentuates normal facial features, making a bold statement in the virtual world. Sevdaliza, known for her fearless approach to addressing women's issues, appears to be a perfect partner for The Fabricant to bring the collection to life.
In South Korea's rapidly evolving retail industry, virtual models are making a splash. One such model is Lucy, a 29-year-old virtual influencer created by the home shopping channel of conglomerate Lotte and is set to appear in online shopping shows for Vivienne Westwood’s latest collections.
Live commerce is a unique home shopping-like service that enables two-way communication between shopping hosts and consumers. The use of virtual models like Lucy has made this service even more popular, with various artificial humans active as models and singers in South Korea. The jury is still out on the ethical implications of using AI-powered figures in fashion, so we’ll be watching this space closely.
Nike's .SWOOSH metaverse fashion lab is offering aspiring designers the opportunity to bring their concepts to life with its first challenge. Participants, with a chance to win $5,000 and have their ideas transformed into virtual reality creations, are tasked to create an Instagram mood board that tells their stories: eight images revolving around their story, mood, three key themes, color palette, and other set criteria.
The .SWOOSH team selected four concepts that stood out, enabling them to partner with a Nike designer to create their own virtual Air Force 1 and get cash prizes. Launched in November, .SWOOSH is a Polygon-based metaverse lab that will house all of Nike’s virtual fashion creations as well as serve as a social hub to create and discover virtual collections and trade virtual items.
Trace Network Labs has launched the Madame Meta Store, the first Indian luxury womenswear store in the metaverse, and it's set to make waves in the fashion industry. Located in the fashion and lifestyle Pariz metaverse, the store was pre-launched with a well-received event as it promises a unique and innovative shopping experience, allowing customers to browse and purchase clothing in a virtual environment.
In addition to the Madame Meta Store, Trace Network offers a suite of services for enterprises to launch metaverse experiences related to business. With the rise of virtual reality, the company is poised to help businesses tap into this growing market.
The fashion world is entering the virtual realm, and Tommy Hilfiger is aiming to lead the charge. The brand is offering a variety of digital items - from shoes and clothing to hats, glasses, and bags - in the metaverse. By using NFTs to endorse its digital products, Tommy Hilfiger is improving its operations and making a name for itself in the virtual world; at the end of 2022, it was introduced to Roblox, returning to it this March for the Metaverse Fashion Week.
Despite uncertainties and concerns about sustainability and meeting users’ expectations, Tommy Hilfiger is taking advantage of the opportunity to innovate and grow in the virtual world. With its commitment to using NFTs and its wide range of digital items, the fashion house, alongside others making big stakes, is poised to make a big impact in the metaverse.
In a collaboration with US-based startup Seamm, artist-in-residence at Sarabande Foundation Martina Spetlova has debuted a line of phygital garments available for purchase at Selfridges in London. The innovative project offers customers the ability to access a digital twin of the item - wearable in video games and metaverse worlds - to essentially bridge the gap between the physical and virtual realms while providing brands with insights into consumer behavior and preferences.
While some argue that the traditional fashion industry has always dictated what is in vogue, others assert that today's tech-savvy consumers expect their needs to be met by the brands they follow and adapt to their changing preferences, including the migration to virtual spaces.
Japanese companies KINGBEAT and Realize Mobile have teamed up to launch FASHION TECH TOKYO, a new service that combines their expertise in digital fashion creation and volumetric capture technology to create high-resolution, 3D digital fashion for use in VR, AR, and the metaverse.
FASHION TECH TOKYO allows apparel companies to create 3D digital fashion items that can be viewed from any angle and showcased on real-world models and influencers. This service provides a high level of visual detail, simulating the wrinkles, motions, and textures of clothing and providing a more immersive, interactive experience to customers. The new service is considered another bid toward a sustainable, cost-effective way to showcase fashion in the digital world.
In what’s touted as a major milestone for India’s fashion industry, the Blenders Pride Glassware Fashion Tour recently hosted the country's first-ever fashion show in the metaverse, a virtual event offering interactive areas, gamified zones, and multiple activities.
Featuring outfits from the Style Gallery exhibit, which brought together 60 of the country's top designers and homegrown labels, the show was a celebration of the intersection of fashion and technology. The goal was to make fashion more inclusive, accessible, and futuristic, and its foray in the metaverse is seen as an exciting and innovative step forward and into the future of fashion.
The virtual jewelry market is booming, with the physical jewelry market's revenue forecast to hit $292B by 2025. Technology advancements such as AR try-ons andNFTs are helping to mature and democratize the market, making virtual jewelry increasingly accessible to consumers. Traditional hard luxury labels, such as Tiffany and Bulgari, are taking advantage of this trend and incorporating virtual jewelry into their product offerings.
Companies like Formless, Kaveras, and Alterrage are using web3 to optimize their physical pieces and create virtual jewelry. This allows consumers to try on and purchase virtual jewelry with the click of a button, making the process seamless and convenient. While some may argue that virtual jewelry is not as desirable as physical jewelry, others believe that the tech-driven approach to jewelry buying offers more opportunities for creativity and personalization.
The ongoing trial between luxury brand Hermès and artist Mason Rothschild over the alleged infringement and dilution of the Birkin trademark and trade dress by way of a collection of MetaBirkins NFTs continues.
The details so far:
The court denied both parties' motions for summary judgment and has determined that the Rogers v. Grimaldi test should be applied to the digital images underlying the MetaBirkins NFTs. This test evaluates whether a use of a trademark is protected under the First Amendment as a form of artistic expression.
The court determined a genuine factual dispute as to whether Rothschild's decision to center his work around the Birkin bag stemmed from genuine artistic expression or an unlawful intent to cash in on a highly exclusive and valuable brand name.
Hermès argued that Rothschild had no discernable artistic intent or expression in promoting and selling the MetaBirkins NFTs, while Rothschild asserted that the project's expressive purpose was clear from its inception.
This case raises important questions about the intersection of trademark law, art, and technology in the NFT space, and is undeniably one worth following.
The Made-In-Real-Life (MIRL) Club is making waves in the fashion industry with its innovative approach to fashion creation and distribution. Born in the Metaverse, MIRL is a decentralized fashion brand that leverages blockchain technology to support emerging creatives and designers. With a focus on fostering new talent, MIRL has established an incubator that provides aspiring artists with both intellectual and financial resources.
The MIRL e-store is a highlight of the project, offering exclusive features for MIRL NFT/$MIRL token holders. By using blockchain, MIRL is able to distribute products in a secure and transparent manner, ensuring that designers receive fair compensation for their work.
The fashion industry is transforming before our eyes with the rise of web3 technology. From virtual fashion activations to the use of cryptocurrency payments and NFT sales, web3 is revolutionizing the way fashion operates.
Web3’s key benefits include:
The ability to authenticate sustainability claims and tackle counterfeit issues through blockchain technology, creating a more transparent and trustworthy fashion industry and thus enhancing customer confidence.
Enabling a new creator economy, allowing for a rise in independent designers and decentralized financing. This new economy is fostering innovation and competition, leading to a more dynamic and diverse fashion industry.
The metaverse is emerging as a new frontier for brands to explore new boundaries and connect with customers in novel ways. Virtual shopping experiences are at the forefront of metaverse innovation, offering customers immersive shopping experiences like never before.
Brands are also taking advantage of the metaverse to track customer behavior and preferences in real-time. This data provides valuable insights for brands to finetune their offerings and marketing strategies, making the shopping experience more personalized and enjoyable for customers. Avatars are becoming a crucial aspect in this realm, with the ability to customize and personalize avatars as one nifty way to leave a lasting impression on shoppers and style enthusiasts.
💸 Finance buzz
Cohort, a customer engagement platform that helps brands create NFT-powered loyalty campaigns, has recently secured €3.2M in seed funding. With over 15 customers in France and in the US, including Etam, Socque Paris and L’Atelier Shelter, Cohort uses NFTs to help brands create innovative experiences and products around their product and offer, at scale, exclusive limited editions, unique services linked to a product, VIP experiences, and more. (Source)
🗣️ Quote of the week
“Virtual jewelry will continue to be a growing fashion category for consumers due to the remote work lifestyle.”
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All content on this newsletter is for informational purposes only and does not aim to serve as or replace expert investment advice.
If you are a startup building in the metaverse / web3 ecosystem and are raising capital, please reach out to Sfermion. Sfermion is an investment firm focused on accelerating the emergence of the metaverse.
Stay informed via our Twitter and Subscribe here to get your metaverse fashion news every Tuesday.