Decentraland, Luxury Marketplace UNXD to Host Metaverse Fashion Week

Luxury marketplace UNXD, which is built on the Polygon network, and Decentraland, a virtual reality platform built on the Ethereum blockchain, plan to offer a metaverse fashion week with catwalk shows, pop-up shops and afterparties in March.

The fashion program, Decentraland’s first, will take place March 24-27. The show will allow users to view fashion in a virtual environment and purchase outfits for their online avatars.
In a Sunday tweet, Decentraland called for designers, brands and fashionistas to have their virtual collections ready to present in the metaverse.
Interest in the metaverse, an environment generated by the convergence of virtual worlds, augmented reality and internet services, has exploded in recent months. By offering a collective virtual experience, it has introduced new opportunities to creators, gamers and artists.
The metaverse may represent a market opportunity of over $1 trillion in annual revenue, crypto investment giant Grayscale said in a report earlier this year. (Grayscale is a subsidiary of Digital Currency Group, which also owns CoinDesk.)
In another signal of increased interest, Facebook recently changed its corporate name to Meta and announced its metaverse will support non-fungible tokens (NFTs).
In September, UNXD worked with Italian haute couture label Dolce & Gabbana to launch its NFT collection, Collezione Genesi, which fetched approximately $5.65 million in a sale.
With the show, Decentraland is treading a path already opened by South Korean metaverse social media app Zepeto, according to a BBC report.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Tanzeel Akhtar

Tanzeel Akhtar is a reporter based in London,UK.

Follow @Tanzeel_Akhtar on Twitter

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.