Ralph Lauren sells virtual clothing in the Metaverse - now everyone can afford luxury
Created: 01/04/2022Updated: 01/04/2022, 9:22 AM
By: Markus Hofstetter
The fashion company Ralph Lauren has opened fashion stores in the virtual game world Roblox © Roblox
Ralph Lauren opens virtual stores in Metaversum.
For a few dollars you can buy digital clothing from the fashion company.
Some smell a billion dollar gold mine.
New York - Marc Zuckerberg renamed Facebook Meta last year and announced that he wanted to invest heavily in the virtual world.
Since then, the metaverse has really gotten a boost.
The metaverse is a multitude of virtual worlds, all of which are similar to the real world.
As an avatar, you can do everything in it that you do otherwise.
Meeting up with friends, going out to eat, going on vacation, going to concerts or playing games.
With the help of virtual reality techniques, an interaction in the metaverse should feel like it does in the real world.
Real business in digital worlds: $ 458,000 to become Snoop Dogg's virtual neighbor
While many use the metaverse simply for passing the time, for some providers it is a source of income. At the end of November 2021, New York-based Republic Realm bought 7.9 million square meters of land in the virtual world of Sandbox for $ 4.3 million. The Canadian crypto company Tokens.com had previously announced a similar purchase of land for $ 2.4 million in the virtual world Decentraland. The companies want to develop this country, dealers should set up online shops on it and sell their virtual products there.
But it also attracts hardcore fans who otherwise probably don't have the opportunity to get in touch with their stars.
Gagadget
magazine
reports
that someone spent around $ 458,000 to become a virtual neighbor of rapper Snoop Dogg in Sandbox.
Ralph Lauren sells digital clothes in the Metaverse: clothes for less than five dollars
Ralph Lauren is not that aloof.
The fashion company has opened stores on the online gaming platform Roblox.
There the players can change their clothes around the clock.
There are currently virtual pieces from the winter collection for less than five dollars each.
Other fashion companies have also recognized the signs of the times.
The luxury brands Gucci and Balenciaga also offer virtual clothes for money in the Metaversum.
However, at very different prices than Ralph Lauren.
The online portal
Forbes
reports that Gucci sold a Dionysus handbag for the equivalent of around 4100 dollars last August.
That's more than the real-world bag costs.
But that could only be a fraction of what should be possible in the future.
Investment bank Morgan Stanley expects fashion companies could make around $ 50 billion from selling virtual clothes by 2030.
Digital clothes in the metaverse: people value the appearance of their avatars
But why do people spend real money on virtual pants or dresses?
One answer to this is that if you spend a lot of time in the metaverse, you value the appearance of your avatar.
At least that's Dylan Gott's view.
"As people spend more and more time in digital worlds, they also attach more and more importance to how they present themselves in the digital worlds," says the Global Technology Innovation Manager at Estee Laude, according to
Forbes
.
In addition, the luxury products in the Metaverse are in many cases a lot cheaper than in the real world.
Buying a piece by Ralph Lauren for a few dollars and dressing your avatar in it is possible for many.
The real product for a few hundred dollars, on the other hand, is likely to be outside of the financial scope.