One in five Roblox gamers update their avatars daily and according to the investment bank Morgan Stanley, the growing digital demand for luxury goods in the Metaverse is a 50 billion dollar revenue opportunity. Based on that research, it was recognized that luxury brands are leaning towards collaborations with gaming and Metaverse platforms increasingly.
“The Metaverse will likely take many years to develop; however, NFTs and social gaming represent two big opportunities for luxury brands”.
Dolce&Gabbana has sold 7 Nft for $5.6 million. These are part of the Genesis collection, launched in collaboration with UNXD, a marketplace dedicated to luxury and digital culture. The first concept revealed as part of the collection is called Dress from a Dream and is based on an idea inspired by Domenico Dolce and Stefano Gabbana's artistic vision and Venetian beackground.
The nine non-fungible tokens include two women's dresses, one men's suit, three jackets, and three crowns. Some pieces also have a physical equivalent, while others are only available in a digital version.
Dolce & Gabbana sales definitely highlight the virtual and hybrid luxury goods' impressive potential in the coming years.