Roblox fashion is transforming the metaverse fashion industry
Roblox fashion is driving innovation within the fashion industry, as luxury brands tap into the metaverse after seeing success on the sandbox platform, CNN Style reports. Major retail corporations are finding that many people value their digital wardrobes just as much as their physical ones. As a result, fashion brands are jumping on the metaverse bandwagon by investing in Roblox and other virtual worlds.
The CNN article points to a digital version of the Gucci Dionysus handbag, which was available on Roblox for a limited time in 2021. While the digital bag initially cost only 475 Robux (about $6 USD), it resold for a staggering $4,115 USD — $700 less than the physical version of the bag.
The fact that people want to express themselves by their avatar attire or “skins” isn’t necessarily news for longtime video game players. Gamers have been willing to pay significant sums for in-game cosmetics for quite some time. Cosmetics in games like Counter-Strike: Global Offensive (CS:GO) and Fortnite can net hundreds or thousands of dollars in resale value.
However, it’s only recently that fashion brands have come to understand avatars like those on Roblox serve as an extension of a player’s identity. As such, it makes sense that many people would want to dress in designer gear and don collector’s items. And, of course, the fashion brands are pursuing these opportunities accordingly.
Bain, a consultancy, reports that online interactions influence 70% of luxury purchases, so it’s no wonder major brands like Tommy Hilfiger and Vans have embraced Roblox and the metaverse to reach new audiences.
A recent report from McKinsey, another major consulting firm, suggests fashion is “at the forefront of the metaverse.” One key reason is that
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