As consumers spend more time online and the hype around the metaverse continues to cascade into virtual goods, fashion leaders will unlock new ways of engaging with highvalue younger cohorts. To capture untapped value streams, players should explore the potential of nonfungible tokens, gaming and virtual fashion — all of which offer fresh routes to creativity, community-building and commerce.
Consumers will seek out opportunities for co-creation and will expect Brands to engage with digital assets in a format that is native to the spaces they inhabit, rather than content that repeats across channels.
There are more and more ‘second worlds’ where you can express yourself [but] there is probably an underestimation of the value being attached to individuals who want to express themselves in a virtual world with a virtual product, [through] a virtual persona – R. Triefus