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WHY TF IS EVERYONE JOINING THE METAVERSE?

WHY TF IS EVERYONE JOINING THE METAVERSE?

by Stella Hughes
3 min
metaverse balenciaga adidas
adidas ©

Things have been weird since Facebook’s (or should we say Meta’s) video, outlining their plans to create and push the Metaverse, dropped. What once seemed like the glamification of real life soon became more of a reality, with brands such as Nike quickly filing trademarks to ensure a swift entry into the Metaverse.

It seemed only a matter of time before other brands followed suit, with Meta even tweeting Balenciaga asking what the dress code for the Metaverse would be. Now, Balenciaga has confirmed its upcoming ventures into virtual reality, with the announcement of a new business unit dedicated to the Metaverse. Speaking at Business of Fashion’s VOICES event, chief executive Cédric Charbit acknowledged the financial potential of expanding further into the digital realm, saying “Right now the climax of interaction with a luxury brand is that you click like, or comment or buy something. I think we can get to a next level.” 

Having dipped its toes into the digital fashion pool many times this year with its collaboration with Fortnite and Simpsons-based runway show this news is actually not so surprising from Balenciaga.

However, adidas Originals is now leaping into the Metaverse, too. As part of a multi-party partnership with Bored Ape Yacht Club, Pixel Vault’s Punks Comic and crypto investor Gmoney, adidas made the announcement on Twitter. 

Citing its entry date as next Autumn, adidas shared that its goal there was “To see every one of (the Metaverse’s) inhabitants thrive. The Metaverse is where anyone can express their most original ideas and be their most authentic selves, in whatever form they might take”. Coming just a month after the brand’s competitors, Nike’s announcement, it seems the Metaverse is beginning to take shape and brands are eager to stake their claim in it early.

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