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How Metaverse is linked to Luxury ?

The metaverse is an inevitable part of Web 3.0 or the decentralized internet. Metaverse is a construct that allows users to link up and interrelate both economically and socially through their online avatars. We are talking about a virtual world that people connect to that is free of the restraint of the physical world.

How does NFT overlap into the metaverse and how are luxury brands looking to enter the metaverse themselves to seize upon a new kind of audience? With NFT in the metaverse, the economic interaction on the metaverse is changing and becoming more defined.

For example, a user could visit a virtual mall and get the Gucci sneakers from the Gucci sneaker garage for his avatar to put on. The Gucci sneaker is an NFT that becomes unique to the user when obtained from the metaverse.

Now, for luxury brands looking to achieve similar offerings, Exclusible is a gateway to minting luxury items that these brands can now look to bring into the metaverse for users to interact with. The decentralized internet has a key role to play in bringing NFT into the metaverse seamlessly and Exclusible has a key role to play by providing the platform for luxury brands to connect with a new kind of audience — a crypto enthusiastic audience in a new kind of world.

It seems luxury brands are now trying to take a dip into the metaverse and platforms like Exclusible can show them how. Virtual world expert Vlad Panchenko expects the evolving Metaverse to grow into an omniverse that has several cross-chain capabilities, and it will include extended reality (XR) combined with AR and VR, blockchain with NFTs, ubiquitous networking, and maybe newer tech.

This metaverse of the future will be just as important as the real world as its virtual economy mirrors the economy of the real world in terms of importance. Panchenko believes brands have no choice but evolve alongside this new reality or are left behind. For luxury brands to evolve alongside this new reality, they require a platform that understands this new reality.

New reality & digital fashion in metaverse

Photo by Marius Masalar on Unsplash

We have already seen collaboration between luxury brand Gucci and Roblox where the brand introduces some premium items to the Roblox platform as Gucci seeks to make its presence felt in the metaverse. Luxury brands can take advantage of the tools available on Exclusible to gain leverage as they seek to enter the metaverse.

Looking at the future of brands in the metaverse reflects that brands are taking the matter with seriousness. Many modern brands prioritize digitalization first. They focus on building a digital identity even before the actual product or service is available. Exclusible is about helping luxury brands build a digital identity through unique luxury NFTs, which they can bring into the metaverse. The opportunity to embrace a digital future is here and Exclusible is all through the ride. Luxury brands must get ahead in the new digital world being metaverse a key part of it. They must start developing NFTs and digital products to create new experiences. They must see the metaverse as a chance to connect with a new audience and expand their brands

About the Author

Chief Digital Officer at | Related Insights

An entrepreneur with 15 years of experience. Olivier has successfully led technical & marketing teams from inception to large-scale websites with millions of users