LUXURY brands are uploading digital inventory to the metaverse in partnership with Mark Zuckerberg.
Zuckerberg and his company are going to make you care about the metaverse or throw away the company legacy trying.
High-end brands like Balenciaga, Prada, and Thom Browne are linking up with Meta Platforms to bring luxury to the metaverse.
Users will be able to purchase digital swag for their avatars to wear while exploring the expanding metaverse.
“Avatars will be as common as profile pictures today, but instead of a static image, they’re going to be living 3D representations of you, your expressions, your gestures,” Zuckerberg said.
Zuckerberg wants people to get excited about new avatar skins and merch – but it's the brands that should be really jazzed.
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Bloomberg reporters noted sales of digital clothing are practically all profit – there is very little overhead cost, there is no possibility of overstocking, and they can reuse old designs that are rebranded as digital.
While digital fashion does not create waste and pollution the same way real-world clothing does, it doesn't solve any of those problems either – people still need to get dressed for daily life.
“Digital goods will be an important way to express yourself in the metaverse and a big driver of the creative economy,” Zuckerberg said.
Luxury brands have tested the waters in other digital worlds like Fortnite and Roblox – it's a low-risk investment for companies with the market cap to go for it.
After all, it's not like they would be saddled with extra inventory or a new location if it doesn't work out – brands are a control-alt-delete away from washing their hands of the metaverse.
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Zuckerberg and Meta, on the other hand, are all in on the metaverse – the company has put $10billion into metaverse development
“You’re going to have a wardrobe of virtual clothes for different occasions designed by different creators and from different apps and experiences,” Zuckerberg said.
A likely story – but, right now, the graphics are far from photorealistic, it's littered with scams, and, like real-world designer clothes, few have the additional funds to spend loads on a shirt.
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Zuckerberg is personally doing much of the heavy lifting to make the metaverse feel real and important.
And yet, there are few straight answers as to why buying expensive digital clothing is a good investment right now.
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