Metafashion will be the future of fashion in India

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The Metaverse has been in the news for quite some time now. Web 3.0 appears to be an enigmatic shift transforming the way people interact, do business, and invest, among other things. Theoretically, it’s an amalgamation of technologies like augmented reality, virtual reality and video where users have a “life” outside of the real world, i.e. in the digital world. Fashion is not to be outdone and Metafashion is accelerating. The best brands issue NFTs and interact with consumers online.

Has the metaverse arrived?

The metaverse right now looks like the Internet of the 1990s. It’s there, but within reach of a few. However, it has the potential to grow exponentially. While the technologies behind the metaverse existed, their application was limited to digital spaces. Users experienced them in a restricted sense when using apps with specific functions. Their consumption was more passive and they had no possibility of active engagement to become creators. Metaverse presents unlimited possibilities to create a limitless world like those in the real world. This facilitates democratic perspectives that would allow for unrestricted engagement of race, region, caste, and gender, as well as several other factors that prohibit us from doing things in the real world.

The metaverse in its current form appears to be new; however, he was there among us in a different form. Generation Z was already exploiting it to create new avatars, trade, buy and consume digital goods in complicated online spaces. In a few years, or say by the time we hit the 2030s, the Metaverse would become a favorite mode. Fashion brands need to invest in the metaverse, envisioning the limitless opportunities it could offer them. Generation Z will be their main consumers, while others will follow.

Metafashion’s Growth Story

Fashion has always been in, and fashionistas have always wanted to explore the new and the unheard of. Brands know this, and many are rushing to take first-mover advantage. Several metaverse platforms are emerging as a confluence point for consumers and brands. They allow traditional and digital fashion brands to showcase their products and consumers to express interest or buy them. A range of services, from digitizing fashion to storing them on blockchain as NFTs, are possible on these avenues. Consumers can wear these augmented reality digital garments through their app and add personality to their avatar.

Consumers can have their metaclosets on these platforms where they can store the digital clothing, accessories and other items they purchase on these platforms. The limitless world of the metaverse allows fashion to grow exponentially. Consumers adopt it to realize their fashion dreams, because it allows them to express themselves tirelessly. Additionally, Metafashion’s sustainability factor gives it an edge in attracting Gen Z, who are aware of the world around them and want to contribute to the environment.

India is poised to become an active contributor to the rise of metafashion

Research indicates that globally, the metaverse market would reach a valuation of $800 billion by 2024. India is among the few countries where metaverse and metamode can be rapidly adopted. The rapid penetration of the internet, the smartphone and its young population would facilitate the atmosphere necessary to embrace metafashion. India’s urban youth are among the most tech-savvy population in the world. They are increasingly exploring opportunities to express themselves on virtual platforms, to collaborate with artists, to engage and create new things. Metafashion provides them with the exact opportunity.

Brands are said to be eager to tap into this huge market and are expected to invest more and more in the Indian metafashion market soon. New-age brands that target young people would jump at the chance and try to engage with more and more customers. The digital medium would allow them to take a tailored approach in which they could target segments of Indian youth with similar fashion tastes. As metropolitan cities would take the lead in popularizing the metafashion, its availability on the digital medium would soon lead it to Tier II and III centers.

With the contribution of Anurag Saboo – Co-founder, DaMENSCH. Metafashion will be the future of fashion in India

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