Meta-creators are breaking fashion and Hollywood – World Water Day

Will the next big fashion line originate from Web3?

“You don’t have to worry about physical production or transportation of goods,” CAA agent Tom Capone said during the Fairchild Media Tech Forum. “You can really imagine beyond the confines of gravity and general physics. And that’s pretty exciting from a creative perspective.”

The metaverse may still be the province of tech-savvy early adopters and a small but growing group of celebrities. (Mila Kunis recently partnered with entrepreneur Sharad Devarajan to launch Armored Kingdom Media, which will include digital comics, animation, movies, and a trading card game on the carbon-neutral Near blockchain.)

But legacy clothing and fashion brands, including Gucci, Dolce & Gabbana, Balmain, Louis Vuitton, Burberry, Adidas and Nike, have embraced the metaverse, collaborating with digital artists and investing in NFT startups. And digital artists are increasingly breaking into established entertainment and fashion markets.

In 2021, Nike acquired Utah-based startup and NFT digital sneaker manufacturer, RTKFT. Gucci has assembled a team of digital creators and in May revealed that it would accept cryptocurrency for some physical goods. Balmain has launched multiple NFTs on MINTNFT, including Barbie x Balmain and Balmain x Cole, a collaboration with digital artist Jeff Cole on the Balmain unicorn sneaker. Similar to the Barbie collaboration, the Cole project includes one-of-a-kind NFTs and the highest bidder also gets a pair of real slippers signed by Balmain creative director Olivier Rousteing.

The decentralized and personalized nature of Web3 and the metaverse offers an opportunity for fashion brands to use virtual reality and augmented reality to adapt digital wearable devices. For example, in the metaverse, a user could buy a Gucci token and see only Gucci garments, via augmented reality, on the runway at fashion week. In the future, luxury goods will increasingly come with complementary NFTs, so that a user can kit out their avatar the same way they carry their IRL Gucci bag, added Adam Friedman, CAA executive and investor, Connect Ventures, a joint venture with NEA.

“As the metaverse becomes more mainstream and more adopted and you see more people interacting in the metaverse, you will need to dress yourself and your avatar as you walk around,” he said, during a discussion led by the WWD West Coast executive. Publisher Booth Moore. “You don’t want to be left out of the circuit. You don’t want to be wearing last season’s sneakers. The same utility that we see in space in real life, I think you’re going to be seeing [in the metaverse].”

Last year marked a frantic push by Hollywood agencies into the metaverse. UTA signed three collections of NFTs: CryptoPunks, Meebits, and Autoglyphs, from creative technology firm Larva Labs, which was founded in 2005 by Canadian software developers Matt Hall and John Watkinson. Launched in 2017, CryptoPunks was one of the first NFT projects to live on the Ethereum blockchain. A few months later, CAA signed a real NFT avatar: Jenkins the Valet, released by Tally Labs, and stemming from the popular Bored Ape Yacht Club NFT project, whose NFT owners include Snoop Dogg, Tom Brady, Madonna, Justin Bieber, Steph Curry, Paris Hilton and Logan Paul.

Earlier this year, CAA hired 13-year-old Nyla Hayes, the digital artist who created the Long Necky Women NFT series.

“She’s an artist at heart, but there’s so much more we can build with her,” Friedman said. “There are brand campaigns and content opportunities and speaking opportunities.”

The metaverse is minting superstars, including former MLB player turned NFT artist Micah Johnson, whose NFT sales have been valued at close to $20 million. But so far it remains a very small and financially volatile community.

“There is no doubt that when you look at space there is a kind of echo chamber right now,” Friedman added. “When you see more and more people jumping into space, not from a cash-grabbing mentality but more from a [creative mentality]that’s how you’re going to see things expand.”

Get your digital wearables before your ETH value hits the stratosphere.

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