Revenue streams for fashion brands in the metaverse: A complete guide

The Metaverse fashion market will advance at a CAGR of 36.47%, reaching a value of 6.61 billion dollars by 2026. By the end of this year, this market will have grown by 30.5% year on year. Non-fungible tokens (NFTs) and social gaming have the potential to increase the total addressable market of luxury groups by more than 10%. Gucci, Tommy Hilfiger, Nike, Vans, and PacSun are among the brands that have created Roblox environments. Almost 6 billion units of those virtual products were purchased, earning the designers $538 million. Nic Carter, a venture capitalist, believes that “redeem-and-retain” business models can assist in hastening the mainstreaming of NFTs. The greater possibility that physical fashion opens up is for NFTs to be sold before tangible clothing, allowing firms to evaluate demand for physical things before creating and delivering them. ZERO10 collaborated with Crosby Studios to build a physical retail pop-up shop selling digital-only clothes. The creators referred to the pop-up shop as a “physical” doorway into the Metaverse since it combined a virtual purchasing experience with a typical brick-and-mortar structure. ZERO10 digital goods were tried on almost 25,000 times on the app, and visitors spent more than half an hour in the shop on average.

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