If you keep up with the fashion industry at all, you’ll probably be aware of the recent success of Metaverse Fashion Week (MVFW). This event, which was 100% blockchain-based, came at a time when words like “NFT” and “metaverse” were beginning to enter the popular lexicon and so society was primed to see a large-scale metaverse event take place.
So what did this event even look like? What could metaverse events look like in the future? Keep reading to learn more about the metaverse and the incredible possibilities of hosting events in a virtual world!
How Did Metaverse Fashion Week Work?
MVFW was a completely decentralized, blockchain-based event. The land it was created on was sold as NFTs, and inside the actual event all fashion was digital: bought and worn as NFTs. The virtual shopping experience allowed attendees and participants to purchase fashion as NFTs and also have “a physical twin shipped for [their] real wardrobe.”
Not only were participants able to view the virtual 3D catwalks, but they also had many opportunities to attend exclusive tech demos, hear guest speakers, and meet designers. So the networking aspect of fashion week—so integral to the magic of real-life fashion events—was not lost in this new world. Rather, it was amplified. Real-life events require travel, accommodations, fancy footwork in terms of scheduling, and general time commitments that simply don’t come into play with virtual events. With Metaverse Fashion Week, participants could join in from wherever they were, creating many more opportunities to network than could be found in reality.
What Advantages Does the Metaverse Have?
As already discussed, functions held in the metaverse have a distinct primary advantage over events held in real life. This advantage is that travel to a real-world place is not necessary! It’s much easier to fit events into your life if attending them is only a matter of having a strong internet connection.
As we found two years ago when the world changed, virtual meetings are a great way to be able to connect with people who are geographically distant. However, video calls have the disadvantage of being limited to a screen. There’s nothing immersive about the experience.
The metaverse takes this a few steps further and creates a fully immersive virtual experience. No, you’re not physically present, but you can interact with the virtual world and with your fellow attendees as though you were. This means that there’s opportunities for large-scale conferences to be held, and indeed some companies and organizations have already taken advantage of this unique field!
Another advantage is the lead time needed for planning. While planning a large event in the real world will usually take between 6 months and a year, events in the metaverse can be planned and put together in less than two months. When you’re not worrying about the logistics of physical space or venue requirements, it’s much easier to put together a cohesive event in a much shorter amount of time.
While it may seem daunting at first to consider hosting events in the metaverse, the reality is that there are many advantages to moving from the physical plane to the virtual. For more information on how virtual awareness and digital literacy can benefit you and your business, visit my website! My name is Muraly and I’m passionate about helping business leaders succeed—get in touch with me to find out more!