All that transpired at the Metaverse Fashion Week 2023

The glittering Metaverse Fashion Week 2023 (MVFW2023), the second iteration of the event, brought back the opulent fusion of fashion and cryptocurrency. To provide a more grandeur experience, the second annual MFVW2023, which was originally solely hosted by Decentraland, was extended to metaverse platforms 'Spatial' and 'Over the Reality' as well.

Unfortunately, the event received a somewhat muted reaction as opposed to last year, when 70 brands participated, only 60 brands did so this year. In addition, there were only 50,000 guests as opposed to 108,000 attendees the year before. 

Following a number of flash crashes and bankruptcies in the cryptocurrency industry in 2022, it appeared that declining interest in the metaverse continued into the new year as well. Nonetheless, the same did not discourage some major fashion houses from participating in the event.

The four-day event was held from March 28 to 31 and featured 63 fashion brands, including Dolce & Gabbana, Tommy Hilfiger, Adidas, Diesel, Clarks, and other noteworthy fashion houses that have recently populated the metaverse. Here’s a quick round-up of the highlights from this year’s Metaverse Fashion Week.

Themed 'Future Heritage', the MVFW2023 aimed at bridging tradition and technology across interconnected metaverse worlds. This multi-platform event featured fashionistas, designers, and big brands who conducted lifelike runway shows, after-parties, shopping, and other such experiences in the virtual world.

Day 1 kicked off with a focus on luxury. The same started with the Dundas runway show, replicating a similar show held during the Paris Fashion Week. In it, fashion brands showcased exclusive avatars with garments created in collaboration with digital fashion house DressX.

Panellists from Vogue Singapore, the company behind the blockchain-based virtual Chinese cultural city Dragon City, and Threedium, a maker of 3D engines, talked about the metaverse’s aesthetics, a new era of connectivity, and how to fight counterfeit goods.

GAIAN, the wearables startup that designs energy-generating sneakers, hosted an event featuring music artists Spottie Wifi, Lil Bitcoin, Escape Plan, Georgia Sinclair, Billyracxx, and Allan Kingdom. Meanwhile, The BAYC DJ Duo played their new record with Dillon Francis, and Avatar rapper Lil Bitcoin grooved the audience with hip-hop tracks. Alo offered morning yoga sessions in the central MVFW2023 runway area, and the day wrapped up with music, web3, and wearables.

Day 2 focused on streetwear and retail. The greatest highlights, however, came from the Adidas runway show and panel talks on fashion, technology, the AI revolution, and the metaverse from Threedium, NUNC, and Vogue Singapore. As part of a cross-platform interoperable experience, Adidas virtual gear NFT holders were allowed to wear their items in Decentraland.

Adidas also gave away 5,000 wearables of its wall runner jacket to metaverse participants. The vice president of Adidas Studios, Erica Wykes-Sneyd, said that this step was a positive way to collect feedback on the interoperability of the NFT collection. The Gavin Mangus after-party was another notable event of day 2.

To honour designers of the future of Web3 fashion, Day 3 included a community fashion show that highlighted 11 talents from the Decentraland fashion community. In it, Nikki Fuego from the Haus of Fuego showcased over 30 avatars, each designed by top creators in the metaverse, with wearables ranging from nature-inspired designs to dystopian cyberpunk art. Additionally, a panel discussion was also held on the technology leading the metaverse innovations at MVFW and fashion.

Day 4 was dedicated to emerging designers in the industry, with the winner of HBO Max’s "The Hype" competition showcasing wearables to the metaverse community. The panel included a mix of various digital fashion brands, including Threedium, HoW3 x XR Couture, and Vogue Singapore, who discussed utilizing the metaverse to build community.

The event wrapped up with a closing party hosted by the DCL Babydolls and Official MVFW Supermodel Tangpoko, with DJ Sarah Main.

Other fashion houses that grabbed the spotlight during the event were the likes of Dolce & Gabbana, Tommy Hilfiger, DKNY, BNV, Clarks, AmorePacific, MYBFF, and Ben Bridge.

The Metaverse Fashion Week experience also included an exhibition of the winning designs from Dolce & Gabbana's Future Reward competition, which saw participation from many emerging talents. Tommy Hilfiger also included daily product drops as part of the MVFW experience. BKNY introduced its SoHo landmark wall into the metaverse, hosting an art gallery, a pizzeria, and a rooftop lounge. Diesel and HAPE also threw an engaging virtual party that featured wearable NFT drops.

The metaverse brings together the convenience of online shopping with the ability to experience products virtually through immersive technologies. Fashion week isn't just about luxurious clothing and glamour but also an opportunity for brands to increase their Web3 presence and explore the limitless possibilities of the metaverse.

Although this year’s event may have been impacted by a weak crypto market, it is important to remember that technological developments are permanent, whereas market cycles are temporary. That being said, it’s unlikely that the Metaverse Fashion Week will lose its relevance any time soon and major fashion brands will probably continue to pay close attention to the event in the years to come.