Meta launches digital fashion marketplace with Balenciaga, Prada and Tom Browne

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Odaily Translator | Nian Yin Si Tang

Summary:

Summary:

- According to Meta CEO Mark Zuckerberg, the company will launch a digital fashion marketplace.

- For the launch, the company partnered with Balenciaga, Prada and Tom Browne to provide fashion avatars.

Meta will launch a digital fashion store called Avatars Store, and to celebrate the launch, the company has partnered with three iconic brands.

Balenciaga, Prada and Thom Browne are partnering with Meta to sell fashion avatars, Meta CEO Mark Zuckerberg announced Friday afternoon on Instagram Live.

“I’m really grateful and proud that these brands are starting fashion with us in the Metaverse,” Zuckerberg said during a live call with Instagram’s director of fashion partnerships, Eva Chen.

Over the next few months, Instagram, Facebook and Messenger will all roll out the feature. On Instagram, users already have the option to create an avatar.

Zuckerberg, who is known for wearing casual T-shirts in real life, criticized various fashion items worn by his avatar during a conference call Friday.

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Zuckerberg criticizes his avatar's dressing style (Credit: Eva Chen Instagram Live)

The future goal, he said, is to enable designers to design new clothes in the market.

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Luxury fashion catwalks come to Web3

Recently, the fashion industry has been increasingly experimenting with Web3 and encryption. There have been multiple such messages this week alone, such as:On June 16, Swiss luxury watchmaker Tag Heuer, owned by fashion giant LVMH, announced a new feature,。

Will allow customers to display NFTs on certain models of smartwatch faces

TAG Heuer has partnered with Ledger to introduce this feature to users of the Tag Heuer Connected Caliber E4 smartwatch, which will also be compatible with MetaMask. Users can get the update for free through the Apple App Store or Google Play Store.

The company said they brought the idea to life in partnership with blue-chip NFT projects such as Bored Ape Yacht Club, CryptoPunks, Clone-X, and World of Women.On June 14th, the French fashion brand Lacoste announcedLaunched NFT series "UNDW3" to enter the Web3 field

. The company said the move was aimed at building an online community and engaging with customers in a new way. The number of NFTs released this time is 11,212, representing an iconic polo shirt of the brand named L1212, and the unit price of NFT is 0.08 ETH.

Many fashion brands have also started accepting crypto payments through third-party apps. Farfetch, Gucci, and Balenciaga are just a few of the many big names accepting cryptocurrency payments.

That likely reflects the industry's broader long-term outlook. With the Metaverse set to be a $5 trillion industry by 2030, "consumers see unique value in fashion in these digital worlds, where creativity, status, exclusivity, and most importantly, self-expression are important to all users." critical," a McKinsey report released earlier this weekReportReport