As we have seen the importance of the metaverse in the last article, we are going to continue the discussion in this guide too. This will help us to understand the whole thing.
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Nowadays, there’s a lot of curiosity and excitement about digital fashion products that could be worn by avatars in the metaverse. However, this avatar fashion leads to some issues that we haven’t mentioned yet. Let’s talk about them first.
Metaverse Avatar Fashion issues
- First, there are limits on the uses of fashion(including accessories and clothes). In more detail, currently, there is no interoperability on the metaverse. This means if you buy something in one metaverse surrounding, it is not conveyable to another metaverse environment. For instance, any clothes or accessories you buy for an avatar can only be utilized in one metaverse location and that limits its usefulness.
- Second, for most collections of garments or accessories, the prime basis for considering the price is the cost of making the product. Since a virtual fashion has a gradual cost of about zero, the price is possible to be pennies when compared to prices for real-world garments.
There might be a situation or special case where high-end or luxury brands made virtual products for the metaverse. If this happens, the price could rise and go higher, much higher for super-luxury brands. However, we cannot comment now that consumers will go for the same brands in the metaverse as they have in the real world. Also, because the metaverse is still in its early stages or doesn’t fully exist, it’s possible that people’s investment in how they present themselves in the metaverse could be higher than we are considering.
The metaverse topic is frequently mixed with NFTs. But not each NFT is worth anything, in fact very few are. Just think about the thousands of images the moment that appears randomly just in your inbox daily. The actual and real version of almost every image isn’t worth even one dollar to you.
By looking at the current situation, the beauty industry can use the metaverse for promotion and brand-building image. However, there hasn’t been a beauty product created yet for the metaverse and it’s not clear that there ever will be.