As announced over on the Decentraland Twitter, Metaverse Fashion Week is coming to the virtual social world on March 24th through 27th. This event is a collaboration with luxury NFT brand UNXD. The announcement promises “A week of Catwalk shows, pop up shops, after parties and immersive experiences.”
Decentraland – a virtual world owned by its users -uses the $MANA token which has a $7 billion market cap at time of writing. Over on Opensea, the Decentraland collection has trading volume of nearly 260,000 ETH (over $1 billion at time of writing).
Decentraland is a long-running, Etherium based virtual world. It began with a $26 million initial coin offering in 2017 and opened its Metaverse doors in February of 2020. On the Decentraland marketplace you can buy Etherium based Lands and Polygon powered collectibles. You can walk around Decentraland yourself by connecting with a wallet or playing as a guest, and check out virtual art galleries like esteemed art auction house Sotheby’s or, um… Waifu HQ.
UNXD’s Collezione Genesi NFT drop, a collaboration with luxury fashion brand Dolce & Gabanna, sold 9 individual 1/1 fashion NFTs for an eye-popping haul of nearly 1,900 ETH (over $7.5 million at time of writing).
Details are scant on what, exactly, Metaverse Fashion Week will entail. But we are sure to hear more from Decentraland and UNXD in the new year. Our guess is that Metaverse Fashion Week will be a partnership-heavy affair with multiple luxury fashion brands jumping on the metaverse hype train and dropping 1/1 luxury NFT collections at high prices during the week.
The interesting question is, will Metaverse Fashion Week succeed in bringing players into Decentraland? Or will it be more successful in driving headlines and NFT drops than actual user engagement? Only time will tell.