The Metaverse becomes a platform to federate fashion communities

Vogue Singapore and other fashion platforms are creating Web3 communities for users, but will the concept catch on?< /p> A recent report by technology research and consulting firm Technavio predicts that the Metaverse will reach a market share value of $50.37 billion by 2026. Therefore, it should come as no surprise that the trillion-dollar fashion industry started taking a keen interest in the Metavers.

While most luxury labels and brands remain focused on creating non-fungible tokens (NFTs) to replicate physical objects, a handful of projects have begun bringing their communities into the metaverse.

For example, on September 5, Vogue Singapore launched a first Web3 community called "Vogue Singapore's New World". While Vogue Singapore has already shown interest in NFTs by tokenizing its September 2021 cover, Natasha Damodaran – Managing Director of Vogue Singapore – told Cointelegraph that the publication has gone a step further by creating a virtual experience that encompasses the theme of "Fashion's New World." Damodaran explained that the platform allows its community to interact with different types of content and images. She said:

"Vogue Singapore's new world is currently allowing users to explore a realm inspired by surrealism with a welcome video from Vogue September 2022 cover star and supermodel Lina Zhang. experience an AI-powered beauty shoot called Bio RESONANCE by artist Terry Gates, as well as digital couture by Beijing-based designer Yimeng Yu created exclusively for Vogue Singapore."

The Metaverse becomes a platform to federate fashion communities

Vogue Singapore and other fashion platforms are creating Web3 communities for users, but will the concept catch on?< /p> A recent report by technology research and consulting firm Technavio predicts that the Metaverse will reach a market share value of $50.37 billion by 2026. Therefore, it should come as no surprise that the trillion-dollar fashion industry started taking a keen interest in the Metavers.

While most luxury labels and brands remain focused on creating non-fungible tokens (NFTs) to replicate physical objects, a handful of projects have begun bringing their communities into the metaverse.

For example, on September 5, Vogue Singapore launched a first Web3 community called "Vogue Singapore's New World". While Vogue Singapore has already shown interest in NFTs by tokenizing its September 2021 cover, Natasha Damodaran – Managing Director of Vogue Singapore – told Cointelegraph that the publication has gone a step further by creating a virtual experience that encompasses the theme of "Fashion's New World." Damodaran explained that the platform allows its community to interact with different types of content and images. She said:

"Vogue Singapore's new world is currently allowing users to explore a realm inspired by surrealism with a welcome video from Vogue September 2022 cover star and supermodel Lina Zhang. experience an AI-powered beauty shoot called Bio RESONANCE by artist Terry Gates, as well as digital couture by Beijing-based designer Yimeng Yu created exclusively for Vogue Singapore."

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