Metaverse: a $50 billion revenue opportunity for luxury - MS
3 years, 1 month ago

Metaverse: a $50 billion revenue opportunity for luxury - MS

Live Mint  

Digital demand for fashion and luxury brands is expected to grow from current low levels and result in extra sales for the industry that could reach $50 billion by 2030, according to Morgan Stanley. "The Metaverse will likely take many years to develop; however, NFTs and social gaming present two nearer-term opportunities for luxury brands," it said. According to Morgan Stanley, NFTs and social gaming could expand luxury group's total addressable market by more than 10% in eight years time and boost industry earnings before interest and tax by around 25%. It also said Italian brand Dolce & Gabbana's recent sale of nine NFTs for $5.7 million, albeit small, highlights the virtual and hybrid luxury goods' huge potential over the coming years.

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History of this topic

Customers buy into high-tech consumption
1 year, 5 months ago

Customers buy into high-tech consumption

China Daily  

Opportunities Mo Daiqing, a senior analyst at domestic consultancy, Internet Economy Institute, said metaverse-related technologies will help further unleash the potential of consumption and bolster industrial upgrades. Though still in its infancy, the metaverse has created new opportunities for China's consumer market, and has huge potential in propelling the development of customer services, logistics, finance and other industries, Mo said. …

EXPLAINER: What is the metaverse and how will it work?
1 year, 11 months ago

EXPLAINER: What is the metaverse and how will it work?

Associated Press  

The term “metaverse” is the latest buzzword to capture the tech industry’s imagination — and while Facebook parent Meta is the best-known entrant into this futuristic virtual concept, it’s certainly not the only one. Mark Zuckerberg’s all-in embrace — including renaming his company and investing tens of billions of dollars — might be the biggest thing to happen to the …

Meta’s sad quest to convince corporates to join the metaverse
2 years ago

Meta’s sad quest to convince corporates to join the metaverse

The Telegraph  

A year after its launch, the Metaverse is still baffling to many. As Meta struggles with slowing sales amid founder Mark Zuckerberg’s fixation with computerised virtual reality worlds, brands are wondering whether they too need to follow the 38-year-old tech whizz into his bizarre vision of the future. Many companies have piled their marketing millions into metaverse experiments, launching virtual …

Metaverse fashion week draws big brands, startups
2 years, 8 months ago

Metaverse fashion week draws big brands, startups

Live Mint  

Brands including Forever 21, DKNY and Estée Lauder have joined in the first Metaverse Fashion Week, which began Thursday and runs through Sunday in the virtual world called Decentraland. “It sends a signal that virtual fashion is here to stay and virtual fashion will continue to become something that is of interest for brands," said Cathy Hackl, chair of Metaverse …

Metaverse is still a mystery for over 1 in 3 consumers- Report
2 years, 10 months ago

Metaverse is still a mystery for over 1 in 3 consumers- Report

India TV News  

As the world of technology goes gaga over the metaverse, more than one-third of consumers have never heard of the buzzword, according to a new report. "This is a helpful signal to temper short term expectations of the metaverse, and its potential impact on consumer's daily life," said Kyle Rees, senior director analyst. "It will be exciting to see how …

Forget IRL Bling. What About Rolex, Hermes and Gucci NFTs?
3 years ago

Forget IRL Bling. What About Rolex, Hermes and Gucci NFTs?

Live Mint  

Time to get ready for the party. LVMH Moet Hennessy Louis Vuitton SE, Burberry Group Plc, Moncler SpA, Ralph Lauren Corp. and Kering’s Gucci have all participated in gaming collaborations. According to Morgan Stanley, luxury groups could generate sales of about 10 billion euros from gaming by 2030, although this could be as high as 25 billion euros in its …

Why luxury brands want a metaverse future
3 years ago

Why luxury brands want a metaverse future

Live Mint  

The metaverse vision for the internet is far from reality, but brands from Ferrari to Nike are already rushing in to experiment and build an audience, in part for fear of missing out. "I think a lot of it is experimentation," said Ryan Mullins, founder of virtual sneaker app Aglet. Nike had already opened "Nikeland", a virtual showroom on Roblox, …

Brands no longer see metaverse-like worlds as abstract gimmicks
3 years ago

Brands no longer see metaverse-like worlds as abstract gimmicks

Live Mint  

Brands had been toying with the metaverse for some time before Facebook’s recent name change turned the term into a household word. “Facebook saying, ‘We’re going to put $10 billion into this,’ I think provides a lot of incremental confidence that this would be a worthwhile experiment," said Brian Wieser, global president of business intelligence at GroupM, a media-buying company …

Metaverse universe: Realty and luxury brands wait for you to splash crypto cash
3 years ago

Metaverse universe: Realty and luxury brands wait for you to splash crypto cash

Hindustan Times  

It is not real yet but things are moving along at a feverish pace. Real estate, fashion, entertainment, and gaming companies are making a beeline for the next big upgrade to the internet If you thought only tech companies have ambitions for the metaverse future, that wouldn’t be true. Real estate, fashion, entertainment, and gaming companies are making a beeline …

Virtual insanity? Why the metaverse might be closer than you think
3 years, 2 months ago

Virtual insanity? Why the metaverse might be closer than you think

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. “It’s the same in virtual worlds – they’re built …

'No one shares ordinary': Gucci digitally outfits Gen-Z in metaverse foray with Roblox
3 years, 6 months ago

'No one shares ordinary': Gucci digitally outfits Gen-Z in metaverse foray with Roblox

Firstpost  

Milan: Anyone whose virtual alter ego is wandering around the Roblox online game platform these days might run into other avatars sporting Gucci handbags, sunglasses or hats. While the Gucci Garden space on Roblox was open for two weeks last month, the platform’s 42 million users could spend from $1.20 to $9 on collectible and limited-edition Gucci accessories. There are …

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