Metaverse News

Gamers Are Buying Virtual Fashion From Luxury Labels For Online Clout

There’s seemingly no limit to how one can spend money in the metaverse: stocks, crypto, real estate, etc. Now, we can add luxury clothing lines to that mix. Gucci, Balenciaga, and Fendi are just a few of the labels that are rolling out digital clothing collections for gaming avatars to don in the metaverse, allowing gamers to live vicariously through their avatars while sparing no expense. Count VR fashion influencer Leah Ashe as one who has gone all out when it comes to purchasing high-end accessories for her avatar, NotLeah. Through Roblox, she’s purchased four Gucci purses, a pink Rolls-Royce, and an assemblage of pink mansions.

Roblox’s in-game currency, known as “Robux,” can be purchased with cash via debit cards or other forms of electronic payments. Each Robux is worth about 100 times the value of a US bill; thus, a gamer would pay $100 cash in exchange for $10,000 Robux. Ashe recently spent more than $2,000 in Robux (about $25) on a digital limited-edition pink sequin Gucci GG Marmont bag. She then dropped $2,100 real dollars on the exact same handbag in real-life. Gucci introduced a virtual collection to Roblox in May. The limited-edition items were quickly snapped up, and reports of virtual bags fetching more money than the real things on the resale market began popping up, including a Queen Bee Dionysus bag that sold for 350,000 Robux (more than $4,000) last summer.

“The digital fashion world is an inclusive place for designers and [gamers],” said Daria Shapovalova, Co-Founder of metaverse fashion marketplace DressX. “The clothes fit all sizes, the items look good on everyone [in the metaverse] and the designer labels are more accessible and affordable for everyone.”

From the $9.99 DressX subscription app, gaming buffs can score computerized apparel from lesser-known labels to renowned couturiers such as Fendi and Balenciaga. Patrons can then shop for gear for their in-game avatars — or for themselves to wear virtually on social media and Zoom calls — with prices starting around $5. For instance, a virtual head-to-toe version of the bedazzled, custom-made Peter Dundas creation rocked by singer Mary J. Blige during this year’s Super Bowl Halftime Show performance costs $8,400.

“Digital fashion allows people to discover stylish brands on an up-close and personal level,” said Shapovalova, noting that DressX shoppers can use its technology to try on any article of clothing for free before deciding to purchase it for their digital wardrobe. “At this stage in digital fashion development, most designers are creating virtual reality clothing lines as a marketing tool, rather than a major revenue stream, to attract this new wave of metaverse consumers.”

Speaking of which, Metaverse Fashion Week is set to take place from March 24th to the 27th, and will be hosted by 3D virtual world platform Decentraland.

(All information was provided by The New York Post)

Check out the industry-leading META Business podcast where we discuss the intersection of business and the metaverse

0 comments on “Gamers Are Buying Virtual Fashion From Luxury Labels For Online Clout

Leave a Reply

%d bloggers like this: