The metaverse is seen as the next step in the way we use technology – the successor to the Internet age. Depending on who you ask, the metaverse can spread to digital fad, social media, augmented reality, virtual stores, video games, and non-fungible tokens (NFTs), which means that many brands began to take an interest in the principles of the metaverse even before the term became mainstream. As fashion becomes more entrenched in the metaverse and its core Gen Z customers spend more time playing, socializing and shopping there, understanding its full potential is crucial.
An exact definition of the metaverse is difficult to pin down. Cathy Hackl, also known as “Godmother of the Metaverse”, defines it as “an increased convergence of our physical and digital lives” and that “in a way, it is about the Internet freeing itself from rectangles. in our hands, our offices and our walls. and be all around us ”. Matthew Ball is a venture capitalist, managing partner of early stage venture capital fund EpyllionCo, and the leading expert on Mark Zuckerberg’s metaverse Virgil Abloh called on to develop a digital-only fashion brand. Ball defines it as the belief that more of our time spent in leisure, socialization and work will take place in virtual environments. “The best way to understand the metaverse is to think about the idea that we will spend an ever increasing amount of our lives connected to persistent virtual simulations. If you believe it, then the criticality of all that is important to identity and self-expression intensifies.