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

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

Now you can.  

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. 

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. 

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.