Decentraland is now hosting its first-ever Metaverse Fashion Week, which will be publicly available to users until March 27.
Through the platform — which is powered by the Ethereum blockchain — fashion labels and investors can host virtual shows, concerts, and after-parties inside of a dedicated metaverse space. Using their Ethereum wallets, attendees will have the opportunity to purchase both digital and physical wearables.
This year, Admix is partnering with Boson Protocol to bring more brands into the metaverse through this exciting three-day event. With the help of the Boson team, our billboards will be placed inside of their virtual plot in Decentraland to increase overall brand exposure and awareness.
The scoop on Metaverse Fashion Week
Fashion week in the metaverse is almost here. Attendees can virtually attend the event for free and with no ticket necessary — they’ll just need to be equipped with an Ethereum wallet (should they want to purchase any wearables).
Several global brands and an estimated thousands of visitors will have access to the online event — which is set to feature live fashion shows, live music sessions, branded after-parties, exclusive VIP events, and even the opportunity for users to virtually “try on” garments. Avatars will be seen strutting down digital catwalks, while some collections will have physical twins that users can redeem in actual stores.
What makes MVFW even more notable is that it will converge the concepts of both the physical and the digital. Attendees will be able to purchase digital items via NFTs and allow them to be donned by their avatars, while others will be able to purchase complementary physical items in the real world through tokenized NFTs.
How is Boson Protocol offering a new trading ecosystem?
Boson Protocol provides a fair and transparent trading ground for just about anything, offering a new layer dimension for buyers and sellers to digitally exchange value for real-life products and services. Its decentralized infrastructure has introduced a new trading ecosystem for Web3, automating transfers from physical to digital media through the Ethereum blockchain.
By providing a series of brand experiences within its virtual land plots inside Decentraland, Boson Protocol is seeking to help recreate the magic of real-world events, parties, or shopping sprees — all while simultaneously leveraging real-world commerce.
What this means is that their model not only allows users to purchase digital assets for their avatars — it also effectively creates epicenters for brands and creators to sell their real-world products in the metaverse, where they can be tokenized as NFTs. After purchasing items digitally, users will then have the opportunity to redeem these products at physical storefronts.
What are some past examples?
In December, Boson Protocol launched its own bespoke gallery in Decentraland — where users were able to observe various releases in digital fashion and luxury designs.
This exhibition included Dolce & Gabbana’s highly-anticipated Glass Suit, which sold for nearly $6 million USD — the most revenue ever generated from an NFT fashion collection. Users were also able to experience footage of the making of the suit — including early concept ideas, sketches, and video captures showcasing the precision of the final product.
The acquisition and display of Dolce & Gabbana’s suit through Boson’s virtual gallery became an important watershed moment — for both the global fashion industry and the NFT community. It has played a pivotal role in bringing ideas about the future of fashion to the forefront of public consciousness. It is also unique in that it has demonstrated how a package of diverse assets can be featured inside a singular purchase — including a physical suit, a digital wearable, and a collection of experiences for users.
The success of their fashion gallery has further inspired Boson Protocol to make this concept more accessible for a wider user base — including physical wearables with NFT counterparts for digital avatars. The hope is that this will also give high-end fashion items a level of previously unforeseen accessibility to the general public.
Last year, Boson Protocol also purchased a $704,000 plot of land in Decentraland to establish a virtual mall — the largest ever for a plot in the platform’s virtual ecosystem. This will allow users to purchase digital assets inside a metaverse space, which — like in MVFW — they can then use to exchange for physical items and services at real-world locations.
How can these experiences help brands in the metaverse?
With dozens of global brands and thousands of attendees poised to visit Decentraland’s inaugural Metaverse Fashion Week, this presents the perfect opportunity for brands and fashion designers to maximize their online exposure and target wider audiences.
In a recent interview with Vogue Business, Sam Hamilton, creative director of Decentraland Foundation, highlighted the benefits of hosting events on the metaverse platform: “We do this to show the community and other brands: ‘Hey, Decentraland is a place for shopping, everyone is wearing cool clothes and brands can release on the platform.’ It’s a way of bringing more people to the platform and making it more compelling for users.”
In all, the combined technologies of Decentraland’s virtual land space, Boson Protocol’s decentralized trading platform, and Admix’s In-Play monetization solution are an ideal trifecta for increased engagement and monetary success.
Stay tuned for more!
With the help of Boson Protocol, our team at Admix looks forward to bringing more brands into the metaverse at this year’s Metaverse Fashion Week.
Admix has recently joined forces with Out-of-Home advertising giant Ocean Outdoor, to recreate real-life spaces in the metaverse and mimic the effectiveness of outdoor advertising through NFT billboard counterparts. We’ll also be working with Ocean Outdoor to advertise our NFT collections, which will be available for purchase this year
Will you be attending? Stay tuned for more information and be sure to follow us on Twitter for more updates!