More than ever, luxury brands are jostling for position in the metaverse, and they see this futuristic ecosystem as an opportunity not to be missed!
In order to protect their intellectual property or to create a love brand on the long term, luxury brands are perfectly at home in this virtual universe sharing the same values : rarity, exclusivity and avant-gardism.
The metaverse, between dream and reality
Some will talk about an ephemeral fashion while others will certify that it is the future. Initially carried by a community of gamers, the metavers is a set of virtual spaces in which it is possible to play, work or interact. It’s a new and essential place to live, belonging to the web 3.0. In the same way that social media deeply revolutionized the Internet and pushed its evolution towards Web 2.0 a few years ago, the metaverse is clearly the next step in computing.
Everything is to be created in this new infinite world where we could meet friends, get close to celebrities and influencers, buy properties, or even transform our travel experience.
According to a Gartner study, 1 in 4 Internet users will spend more than an hour a day on the metaverse by 2026. That’s what Facebook is banking on, as it has changed its name to “Meta” to reflect CEO Mark Zuckerberg’s vision of the future.
How are today's luxury brands investing in this parallel world?
Credits to: CoindeskValentino, Jacquemus, Balenciaga, Burberry or Gucci, are all houses that have gone through the process. A new form of fashion week has therefore emerged, in late March 2022 : the Metaverse Fashion Week (MVFW).
On the program : new collections, conferences and after parties with the Avenue Montaigne as a backdrop.
Credits to: Tech TribuneIn terms of luxury travel, we can mention first, Duty Free shop, the retailer owned by LVMH, which has freshly entered the market by launching its Lunar New Year campaign and partnering with famous space influencers.
Credits to: Luxe BookAt the end of 2021, it was Marriott Bonvoy that made its move by debuting a travel-inspired NFT collection. The famous program that showcases 30 of the world’s best hotel brands got into the business with virtual artworks that were leaked at Art Basel Miami 2021, one of the world’s largest contemporary art exhibitions.
Credits to: Bored Ape Yatch ClubWe can’t forget to mention the Bored Ape Yacht Club, which was born in February 2021 and has been growing in value ever since. Yuga Labs, the company behind these few thousand ultra-popular monkey NFTs, has just raised 417€ million (valued at 4€ billion) to create its own metaverse called “Otherside“, expected this April 2022.
How are travel brands likely to leverage the metaverse to improve future customer experience ?
Some Asian cities, including Seoul and Tokyo, have similarly announced their arrival on the metaverse. Benidorm is the first tourist destination in Europe to express its positioning in this new virtigious parallel world, which could also be a way of encouraging tourists to return to a destination they haven’t had time to visit in full. We can imagine being able to walk through time and discover how monuments used to be, to walk through old destinations, to interact with period characters …
We might be able to visualize the first class of an airline or the view of a hotel room before booking it. You will be able to meet your concierge in the meta and he will make you live unusual experiences.
Credits to: L'obs, Travis Scott's in Fortnite
Want to get close to Paris Hilton’s villa in Beverly Hills, walk through the Gucci Flower Garden in Florence and attend Metaverse Fashion Week in the same day ? Label Concierge could give you incredible moments that would be impossible to achieve in the real world.
So, what would be your dream experience through this new world ? It’s time to tell us about your most extravagant dreams, the ones you thought were unattainable until now.
We look forward to hearing your thoughts on this new model of luxury consumption. Would you like to be part of it? We read you in the comments!
Do you wish to be one of the first to discover this new luxury digital ecosystem?
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