Luxury brands like Dolce and Gabbana are participating in this week's Metaverse Fashion Week on Decentraland. This comes as Disney reportedly lays off its metaverse team. Journey Chief Metaverse Officer Cathy Hackl discusses fashion in the metaverse and the outlook for Web3 amid crypto winter.
The event will have Dolce & Gabbana and Tommy Hilfiger return with new virtual activations while Coach and Adidas are set to debut their digital wearables on the popular metaverse platform.
Metaverse tokens are the best-performing sector in crypto so far this year, as the CoinDesk Culture and Entertainment (CNE) index is up 37% since the start of the year.