{"id":4146,"date":"2023-02-24T05:00:31","date_gmt":"2023-02-24T05:00:31","guid":{"rendered":"https:\/\/nft.runfyers.com\/index.php\/2023\/02\/24\/what-gucci-and-others-learnt-from-the-metaverse\/"},"modified":"2023-02-24T05:00:31","modified_gmt":"2023-02-24T05:00:31","slug":"what-gucci-and-others-learnt-from-the-metaverse","status":"publish","type":"post","link":"https:\/\/nft.runfyers.com\/index.php\/2023\/02\/24\/what-gucci-and-others-learnt-from-the-metaverse\/","title":{"rendered":"What Gucci and others learnt from the metaverse"},"content":{"rendered":"

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In December last year, with Christmas approaching, the teen-focused fashion brand Forever 21 was trialling a range of new products. \u201cY2K-style\u201d items were in, as were flared trousers, strappy crop tops and fluffy accessories. But its most popular design by far was a bubblegum-pink beanie hat emblazoned with the word FOREVER. It cost just 75p.<\/p>\n

In fact, the beanie did not exist in the sense that most of us understand. It was a virtual item available to buy on Roblox<\/em>, an online gaming platform launched in 2006 which now has nearly 60mn users and is regarded as one of the most successful early iterations of the metaverse. <\/p>\n

The beanie was a remarkable success: having cost approximately $500 to design and launch, it sold more than one million units, making it one of F21\u2019s most popular items ever. Its presence was also felt offline when, in November, the brand launched a real-life Metaverse Collection, featuring a version of said limited-edition pink beanie ($14.99), so that consumers could match their avatars. <\/p>\n

The beanie\u2019s journey from metaverse to reality is a trick the company is keen to repeat. As Jacob Hawkins, F21\u2019s chief marketing and digital officer, explains, Roblox<\/em> and its ilk can act as R&D testing labs where consumers are the guinea pigs. \u201c[We can] spot trends that our customers are loving and find entirely new ways to design and retail our products,\u201d he says. A word has already been coined to describe this blending of the physical and digital in fashion and in other industries: \u201cphygital<\/a>\u201d.<\/p>\n