Fashion and entertainment houses that pride themselves on innovation are looking at the pinnacle of futurism — the metaverse — to broaden their portfolios.
The music, art, and fashion industries are flocking to the virtual world to expand their presence, broaden their reach, and diversify their revenues as the digital landscape expands at a rapid pace.
While celebrities like Kim Kardashian and Matt Damon have made a name for themselves as proponents of non-fungible tokens (NFTs), many companies are already leveraging the metaverse — a virtual-reality-based universe — to promote their products and services. With COVID-19 forcing countries to limit face-to-face interaction, the utility of this technological marvel has come to the fore.
In metaverse, using augmented reality and virtual reality, users can immerse into an alternate world to interact, play games or experience things through their digital avatar. Here are a few instances when the fashion and entertainment industry used metaverse to their advantage:
Here are 5 examples of how the fashion and entertainment industries have used metaverse to their advantage:
Movie trailer launched on the metaverse: A trailer of a recent film Radhe Shyam launched in the metaverse. It was first movie in the world to have its trailer released on the metaverse. The romance drama has established a new trend that will undoubtedly be followed by many other production houses.
History has been made! For the first time ever in the history of cinema, a film trailer has been launched in the metaverse. Click on the link for an enthralling experience! #RadheShyamOnMetaversehttps://t.co/J3BCANbeEf
Gucci buys land on the metaverse: Luxury fashion brand Gucci has purchased property on The Sandbox, a global platform. Users will be able to participate in additional unique digital fashion experiences hosted by the enormous NFT marketplace. However, the label has remained tight-lipped about what these projects would involve. NFTs are one-of-a-kind digital assets that have their ownership recorded on a blockchain. The NFT can be a painting, music, artwork, or video, with each token being unique.
Crafting the future, pixel by pixel. Vault is building its own virtual world on @TheSandboxGame. Discover more https://t.co/wEUMFPiNsg #GucciVault pic.twitter.com/GVW1mpyJQC
Adidas for Prada Resource: This initiative relied on a collective audience to contribute one-of-a-kind, anonymous images, of which 3,000 were minted as NFTs and put into a single mass-patchwork NFT designed by renowned digital artist Zach Lieberman.
NFTs and Manish Malhotra: Manish Malhotra took the NFT route to launch his digital collection a few months ago. He dropped five NFTs, which sold out in seconds.
Malhotra's hand-drawn sketch of a blue sari worn by actress Deepika Padukone in the movie Yeh Jawaani Hai Dewaani was among the NFTs.
American singer and songwriter John Legend launches NFT platform: John Legend, an American musician and songwriter, joined the NFT bandwagon recently. He collaborated with Our Happy Company to launch OurSong, the new NFT platform. The website intends to create a community for digital art developers and artists so that their work can be readily discovered and monetised.
Warner Music Group's concert theme park: The Warner Music Group (WMG) announced recently that it will join the metaverse with a music-themed amusement park in The Sandbox. The virtual theme park will have concerts and musical experiences from WMG's star-studded roster of musicians.
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