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The Rise of The Metaverse

A decade ago, metaverse may have sounded like something from a sci-fi action movie; however, it has become a genuine part of modern life. In particular, meta-mania gripped the business sector in 2021. Facebook announced metaverse-focused projects, and a slew of metaverse-related content was released. The Metaverse is no longer a setting for a science-fiction epic; it is becoming as accurate as of the physical world. But what exactly is the Metaverse? In a nutshell, the Metaverse refers to virtual worlds designed for humans to interact with in the same way they do in the real world. It is more than just playing games or chatting with avatars.

With all of this, it is easy to see how the Metaverse influences the real world, including the luxury sector. On the surface, the two may not appear to be related. In reality, the Metaverse is a technological advancement, and technology has always been a way to indicate wealth. The two worlds have always had a connection, from the latest smartphones to accessories costing hundreds of dollars. Cryptocurrencies were once a novel internet concept. They are now often worth thousands of dollars, and owning them has become a way to signal wealth, with ‘crypto bros’ dominating social media.

In celebration of the 200th birthday of the luxury label’s founder, Louis Vuitton released a game called Louis the Game.

With the addition of the luxury sector, the space is well on its way to thriving more than ever, thanks to the tools for creating NFT fashion and the resources for selling it. According to Sergey Baloyan of X10 agency, a well-known company specializing in promoting Web3, NFT, and DeFi projects, this synergy benefits both creators and consumers.

The Metaverse is still in its early stages. Hence, it is clear that fashion will play a role in its development. After all, it’s a big part of our current world, and the Metaverse is supposed to mimic it to some extent. This surge in fashion influence in the Metaverse will be driven by fashion designers and houses and the many companies that will provide resources to make this digital leap.

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