subsidiary to host Metaverse Fashion Week in March 2023

Metaverse Group, subsidiary, will once again host Metaverse Fashion Week in its Luxury Fashion District in Decentraland from March 28 to 31, 2023.

During MVFW 2023, several brands will showcase new digital collections on the Fashion Arena catwalk. As announced in January, globally known fashion houses and brands will return. The event will be completely free to attend and accessible via desktop devices without the use of any particular hardware or headsets.

MVFW 2023 will also feature the most recent advancements in metaverse interoperability and digital fashion design. Furthermore, for the first time, the event will include both physical and virtual participation of Miami Fashion Week.

“The metaverse represents an obvious use case for digital fashion,” said Andrew Kiguel, CEO of and executive chairman of Metaverse Group, said. He added that digital goods would be on par with or valued higher than physical goods.

MVFW 2022

From March 24 to 27 this year, the first MVFW hosted over 108,000 attendees in Decentraland. In the four-day event, over 50 luxury and digital brands displayed their collections and hosted presentations, panel discussions, afterparties and film installations. Meta Yachts held some fashion shows and celebrations at the Meta Marina.

Participating brands sold digital and physical products via NFTs in the Boson Portal, a luxury shopping district inspired by Paris’ iconic Avenue Montaigne. They worked with the decentralized network Boson Protocol to offer physical goods in the metaverse.

Privé Porter, a retailer of pre-loved Hermès handbags, minted four rare and exclusive bags into NFTs at MVFW, as reported by Forbes. All four handbags had physical products available.

MVFW 2022 began with a digital activation by UK department store Selfridges, which debuted its first metaverse flagship store at the event. Elie Saab, Etro, Tommy Hilfiger, Dundas, Garrett Leight, Roberto Cavalli, Paco Rabanne, Hugo, Faith Connexion and Dolce & Gabbana were among the other popular fashion brands that participated in the event. Some of these companies had already stepped into the virtual world. Hugo, for example, registered trademarks for virtual goods in February.

Tommy Hilfiger also registered a trademark for the Tommyverse for MVFW this year, which included various virtual products and services such as footwear, clothing, fragrances, virtual goods stores and an online community for digital assets, NFTs and metaverses.

After the debut of its first NFT collection, Collezione Genesi, in September last year, Dolce & Gabbana launched its DGFamily NFT community in collaboration with UNXD to generate approximately $5.65 million in sales. During the event, both household fashion designers and new digital fashion brands minted over 165,000 free wearables.

The goal of Decentraland’s Metaverse Fashion Week has been to pave the way for a new era in fashion by demonstrating the power of decentralization and the expanding Web3 ecosystem. The platform’s guiding philosophy is to create a new reality that gives people access to all aspects of our modern economy.

The event aimed to improve the fashion ecosystem in the metaverse. Anyone could participate in the MVFW 2022 by visiting the website and connecting an Ethereum wallet or simply playing as a guest. The website provided users with coordinates to various locations where they could attend the virtual event.