As with any new technological development, the future of immersive digital worlds is still an open question. However, luxury fashion houses are funneling millions into the metaverse. But to what end?
When a digital Gucci Dionysus handbag managed to sell online for the amount of $4,115 last year, the fact that you could have actually purchased the genuine article for $700 less hit the headlines.
The four-figure sum, paid by a customer on the gaming platform Roblox, was chump change for a brand that created $9.7 billion in earnings in 2021. In fact, the Italian luxury conglomerate originally sold the digital bags for 475 "Robux" (less than $6) each, with the exorbitant prices only later achieved on the resale market.
But the incident showed the existence of individuals who cherish their digital wardrobes just as much, if not more, than their physical ones.
In the last two years, the fashion industry has undergone a radical change thanks to this concept. Premium brands ha...
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