Selfridges stores open the first Web3 store in the Decentraland metaverse

Source: observatorioblockchain / Jennifer Maldonado

Centennial innovative department store Selfridges has opened the first Web3 department store in the Decentraland metaverse. To do this, they have chosen to replicate the iconic store that they opened in 2003 in the Bullrin shopping center in Birmingham (United Kingdom). The facade of the building, which has received numerous architecture awards, has rounded shapes and is lined with anodized aluminum discs.

The virtual space that Selfridges has opened in Decentraland can be accessed from anywhere in the world in guest mode or through a crypto wallet. This last mode allows access to all functions within the metaverse. The Selfridges metastore is located at coordinates 64.14 in the Crypto Valley district of Decentraland. For now, users can enjoy an immersive journey and enjoy pieces designed by Paco Rabanne and Victor Vasarely, which are exhibited in NFT format. 

The company has indicated that Paco Rabanne’s digital collection is inspired by his 1966 haute couture dresses. While Victor Vasarely’s NFT collection, made up of 12 non-fungible tokens, showcases the work of the artist, considered to be the father of op art. The Paco Rabanne and Victor Vasarely NFT collections exhibited by Selfridges are the first immersions in the blockchain/NFT world of the Spanish designer and the Vasarely Foundation.

Metaverse Fashion Week

Selfridges has taken advantage of the celebration of the long-awaited Virtual Fashion Week in Decentraland to open its doors in the Metaverse. The Metaverse Fashion Week ( MVFW ) opened yesterday with the presence of some 70 brands, artists, designers and a large audience from all corners of the world. A historic event for the global fashion industry.

Metaverse Fashion Week is taking place in the Luxury Fashion district of Decentraland. Traditional companies from the fashion and design industry, as well as those native to the virtual world and blockchain, are coming together to shape the future of fashion. Brands, artists and designers are blending the virtual world with the real world to immerse attendees in innovative immersive experiences that push the boundaries of reality.

Sam Hamilton, creative director of the Decentraland Foundation, said that through the MVFW they are striving «to broaden the horizon of what metaverse means « . Hamilton believes that the intersection of fashion and technology is giving rise to a revolution that completely blurs the lines between the physical and digital worlds, expanding creativity beyond our tangible reality. As reported by Blockchain Observatory, Metaverse Fashion Week is organized by the fashion company UNXD, acquired by Tokens.com.

 fashion is virtual

At Metaverse Fashion Week, attendees can enjoy different events and digital spaces. Fashion shows, luxury catwalks, collections, portable stores, social events, music and other innovative activations within Decentraland. 

The closing of the first edition of MVFW will be in charge of the Canadian musician, singer and songwriter Grimes. The singer released her first NFT collection in March 2021 and managed to sell it for over $6 million.

Spanish brands debut in the Metaverse

The Spanish store chain Mango will also be present in the Decentraland metaverse with 3 digital works in NFT format, which it exhibits in the Museum District. Mango Metagirl , Mango Ad Astra and Hanna in the Clouds are inspired by garments from the brand and were made in collaboration with digital artist Farkas. The Spanish multinational has also launched its first wearables, a digital version of the Lupi model’s dress and two commemorative t-shirts (for men and women) from the first edition of MVFW. Balenciaga is another of the Spanish brands present at the Metaverse Fashion Week.

high cosmetics

Other fashion brands that have already purchased virtual land in Decentraland are also debuting their flagship stores at Metaverse Fashion Week. Dolce & Gabbana , Etro and Frank Muller are some of the ones that are offering a high-end shopping experience to their consumers. Placebo , Dundas , Puma , Philipp Plein , Tommy Hilfiger , Karl Lagerfeld , Forever 21 and many more are also present at the virtual fashion week. Auroboros and The Fabricant, natives of the virtual world, are also present at this virtual event that ends on March 27. Jewelry, watchmaking or high cosmetics companies have also debuted in the Metaverse at MVFW. This is the case of the  American company Estee Lauder , dedicated to skin care, makeup and fragrances.

Similarly, high-end luxury Swiss watchmaker Franck Muller has also unveiled a crypto collection of his famous watches, which he has called Encrypto . Consumers and users will be able to purchase Franck Muller’s watches in physical, NFT and wearable avatar versions, Decentraland reported .

Metaverse, technology and innovation

The influx of brands and designers at Metaverse Fashion Week has not surprised many, considering the enormous potential that the Metaverse encompasses for the development of new businesses. For many large companies, the Metaverse is like a great promised land . Thus, as the metaversian platforms continue their development, more companies join the technology and innovation. 

The list of companies and industries that are already in the metaverses

JP Morgan estimates that the metaverse will be worth $1 trillion a year in the next few years, taking over nearly every industry.