Fashion Tour launched India’s first metaverse-exclusive fashion show.
The fashion show was held in three cities and is set to take place in Gurugram on this week, December 17.
The initiative will undoubtedly increase the adoption of metaverse in India.
Deloitte India has also released a report on metaverse named ‘Metaverse: The hype, possibilities, and beyond.’
Everyone is talking about it. From gaming companies to the fashion industry, everyone is incorporating metaverse to enhance their user experience.
In line with this, the Fashion Tour has entered the Metaverse in its new avatar by unveiling Blenders Pride Glassware Fashion Tour Park, an industry-first initiative to create a one-of-a-kind combination of fashion and technology for young audiences to experience like never before.
The Fashion Tour launched India’s first metaverse-exclusive fashion show in Decentraland, where only renowned global brands can develop an immersive metaverse experience for their fans.
The Fashion Tour Park has various interactive spaces, gamified zones, and showcase places, as well as several interesting activities for users to participate in during the tour.
In addition, guests attending the Fashion Tour's exclusive shows in the four city editions (Kolkata, Hyderabad, Mumbai & Gurugram) will also be able to 'Step into the Metaverse,' an experiential zone that extends various aspects from the Fashion Tour Park metaverse platform.
This initiative will encourage the adoption of the metaverse among Indian citizens. The metaverse-powered show may also push other prominent clothing businesses to go metaverse in the coming years.
Currently, the metaverse community experiencing an increase in the number of luxury brands developing their own metaverse worlds and offering unique, inventive experiences to their customers. Basically, the companies are recreating the same attraction of exclusivity that draws their customers in real life.
For example, Gucci's Vault, the first luxury brand to create its own virtual world in The Sandbox, which offers a curation of rare Gucci pieces, digital treasures, and interactive features, such as the ability to digitally restore vintage bags.
Meanwhile, Nike's most recent metaverse initiative was the launch of the Swoosh, where users can buy its virtual merchandise. The marketplace has undoubtedly been a fruitful venture for the brand, with the company earning $185.3 million in revenue from digital metaverse products so far.
The above figures and developments show that the metaverse not only provides prospects for significant earnings but also acts as a catalyst by allowing creative freedom to brands in developing meaningful experiences.
Recently, Deloitte India also released a report which identifies factors driving the adoption of the metaverse. The title of the report was “Metaverse: The hype, possibilities, and beyond.”
The report finds out that industries such as fashion, consumer items, real estate, retail and e-commerce, finance, health care, and manufacturing may adopt some components of Metaverse gradually and increase their offerings in the future.
The reports further added that the rise of Metaverse acceptance in India and worldwide is dependent on the economic and technological barriers to the underlying technologies.
This implies that governments should adopt a flexible regulatory approach to the metaverse sector, and by doing so we will undoubtedly witness an increase in metaverse adoption.
What do you think, will metaverse adoption expand in the coming years or will there be some challenges to face? Share your thoughts in the comment section below.
Read also: Where are NFTs going in 2023?
