Fashion in the metaverse will be a little different than wandering through our closets picking out our daily outfits. Using digital clothes “worn” through augmented reality, you’ll equip digital avatars and eventually turn them into non-fungible tokens, or NFTs, to trade and collect. With the growing popularity of NFTs (essentially non-replicable units of data that can be stored, traded, or purchased), fashion brands have taken the plunge. RTFKT studios, which is a Nike company, created sneaker designs in the virtual world, making them collectable in the metaverse.
As we move closer to the metaverse, avatars and clothing remain relevant. In June 2021, Decentraland allowed users to make and sell clothing for their avatars to wear on the site. Some users won almost instantly: user Hiroto Kai sold $20,000 worth of digital kimonos in three weeks. This shows that virtual possessions drive sales and that the metaverse will leverage the apparel industry to help brands and individual creators develop a new form of revenue. Luxury brands will also be accessible in the metaverse, as Gucci, Balenciaga, and Fendi have already created digital collections for gaming avatars.