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Metaverse Fashion: Changing Sustainability and on the Rise

The crypto market has been reeling under intense bearish pressure for the past year or two, and it appears that the metaverse has also lost some of its previous momentum.

However, many experts think it’s only a matter of time before this interconnected digital world revolutionises a number of disciplines, including the world of fashion, as the use cases of this unique technology paradigm continue to emerge.

According to a recent report, the global market for digital fashion is anticipated to grow by $6.61 billion between 2021 and 2026. The market is predicted to develop at a compound annual growth rate (CAGR) of 36.47% over the course of the forecast period, with growth momentum continuing to pick up due to the entry of major fashion brands into the metaverse in recent years.

Major Companies are Using Metaverse Fashion

It should be mentioned that many major organisations have already begun investing in digital fashion, despite the fact that some critics have called the concept of metaverse-centric fashion a fad.

For instance, Nike recently acquired the virtual shoe firm RTFKT, while Adidas recently collaborated with Genies, an American avatar technology company, to develop a wide range of virtual apparel. Similar to this, Levis and Gucci have partnered with online game platform Roblox to create digital wearables and hold a number of virtual events in the near future.

The annual Metaverse Fashion Week, which takes place on Decentraland, has also done a lot to popularise the idea of metaverse fashion. The event’s 2023 edition included creations by numerous well-known fashion houses, including Dolce & Gabbana, Tommy Hilfiger, Estée Lauder, Elie Saab, and Etro. The purpose of these gatherings is to develop a hybrid product that blends the best elements of the physical and digital worlds. Both sustainability and artistic freedom can be found in the metaverse.

The possibility for sustainability in metaverse fashion is one of its most important features. Since the fashion business contributes significantly to global carbon emissions each year, a move towards digitised clothes could help the industry have a smaller negative impact on the environment.

Additionally, unlike traditional fashion, digital fashion allows for greater creative freedom. Digital clothing offers endless customization and modification options, enabling the creation of really distinctive wardrobes that convey personal style and identity.

Platforms like Upland are significantly changing this market in this area by providing consumers with wearables that are incredibly comprehensive in their design structure and cater to their diverse likes and personalities.

Going forward

Decentralised technology continue to be embraced and favoured by people all across the world, therefore it seems sense that metaverse-based fashion will continue to gain popularity. This is so that consumers have the creative flexibility to express their uniqueness while also providing a sustainable alternative to its conventional counterpart.

Therefore, it is realistic to expect the concept of virtual clothing to develop and reguraly alter the fashion landscape as big brands and labels continue to foray into the metaverse and platforms like Upland provide innovative technologies to redefine this developing field.

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