The Metaverse is Driving Demand for Big Brands – And Bringing in Big Dollars

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Ever wanted to show up at a meeting wearing the latest catwalk-inspired designer fashion?  

Now you can.  

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Virtually speaking, that is. 

Digital avatars and virtual worlds are nothing new, but the metaverse is shaking up the way we live and work in a big way. In fact, it’s gaining so much hype that mega brands are dipping their toes into the metaverse – and enjoying the results. 

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For example, luxury brands like Dolce & Gabbana, Gucci, and Burberry are seeing demand in the digital world, which is translating into high prices. Among them, a one-of-a-kind electronic Dolce & Gabbana tiara recently fetched over $300,000 at auction.  

These digital versions of luxury goods are available in the form of NFTs, or nonfungible tokens, stored on a blockchain. 

All this is happening in the metaverse – a digital universe that melds virtual and augmented reality to build an immersive experience. 

If you’re wondering how the metaverse relates to the world of work, think of it this way: rather than joining a Zoom or Teams call for meetings, you can have realistic, three-dimensional interactions with your colleagues by popping on a VR headset. 

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So, providing you have a VR headset and a digital wallet stashed full of cryptocurrency, you may well be able to wear a luxury designer suit – or a $300,000 tiara, if you wish – to your next virtual company meeting. 

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