Exploring the Metaverse Fashion Week 2023

The fashion industry is among the earliest endorsers of Metaverse tech, embracing its related technologies in various ways in recent years, including Metaverse Fashion Week. It allows fashion brands to interact with their customers in a more engaging manner. They can now introduce Web3 games, clothing NFTs, immersive shopping, and more to increase customer engagement.

Metaverse also paved the way for virtual fashion shows. One such event was organised by Decentraland is the Metaverse Fashion Week. Let's explore what it was all about and how brands participated.

## What is Metaverse Fashion Week (MVFW)?

One of the leading decentralised Metaverse platforms, Decentraland, introduced a unique fashion event in 2022. It is an annual event that celebrates creativity in the fashion industry by showcasing digital wearables in virtual spaces. Famous designers and brands from the global fashion scene take part in it and exhibit their unique collections in their virtual stores. 

MVFW is a one-of-a-kind immersive show that connects multiple Metaverses so that a wider audience can enjoy it. The event extends over four days that includes various fun activities for fashionistas. Aside from the runway shows, the MVFW covers informative panel discussions, shopping in 3D virtual stores, immersive games, afterparties, and more. 

The inaugural MVFW took place from 24 to 27 March 2022. The show returned this year and was held from 28 to 31 March. 

Metaverse Fashion Week 2023 (MVFW23)

This year the MVFW event was primarily hosted by Decentraland. But since the organisers focused on interoperability, it also featured on two other Metaverses; Spatial and Over. The first one is a Metaverse platform specifically built for brands, where they can sell their products in a creative way. The second is an innovative decentralised Metaverse layer. It allows you to work with augmented reality to display objects in the physical world.

The fashion week featured all the renowned brands like Coach, Tommy Hilfiger, Adidas, Dolce & Gabbana, Balenciaga, and others. The four days were packed with various runway shows, parties, and panel discussions. Aside from that, there were other fun events like theatres, guided tours, yoga sessions, fashion operas, exhibitions, and whatnot. According to Decentraland, there were more than 120 events in the week. 

The map of the event featured a new architecture named Neo Plaza, from where you could begin exploring different events in MVFW. It included virtual stores of all the brands that participated in the event. All the catwalk shows took place in the Luxury District.

## Highlights from the MVFW23 

Here are some of the major highlights from Decentraland's virtual fashion show:

• Metaverse interoperability was a first at the event, showing how multiple Metaverses can offer similar experiences simultaneously. However, it did not allow the users to go from one platform to another with the same avatar. 

• Around 26,000 users attended the MVFW23 event, as per Decentraland. The firm also claimed that around 50% of these users entered its Metaverse for the first time.

• Neo Plaza was a new addition to this year's event, and users could enjoy a guided tour of the Plaza to explore the virtual spaces and experiences from different brands.

• You can shop digital assets from the DCL Marketplace through your debit/credit card via Tansak. 

• More than 60 global brands participated in the MVFW23 and created numerous interactive experiences for their customers.

• Decentraland also claimed that during the span of the event, around 72,000 sessions were logged in. 

• The virtual fashion week featured the first opera show in a 3D virtual world. 

Decentraland users’ lack of interest in the MVFW23

Even though the event was quite successful for the brands as they created innovative spaces, games, and experiences to engage with their customers. However, the number of users who joined the event was much lower compared to last year. 

A Metaverse analytical firm, GEEIQ, studied that the number of users dropped massively this year by 92%. According to the firm, only 9,000 unique users entered Decentraland's MVFW23. However, in 2022 a total of 108,000 users explored the events. One of the prominent reasons behind it is the declining hype for Metaverse. 

In March 2022, more people were intrigued by Meta’s idea of a digital world. But now the dynamics are different as Meta and other Metaverse companies have not had any significant breakthroughs. Besides, a new tech trend, AI, has stolen the limelight from Metaverse in 2023. Therefore, the masses are not as involved in 3D worlds as before.

## Final thoughts

Decentraland’s MVFW is an innovative annual festival for global fashionistas. It offers leading brands a platform to showcase their digital assets in an intriguing way. It also allows them to enhance customer experiences by offering immersive shopping stores and many fun activities. 

In 2023, Metaverse Fashion Week introduced unique features like interoperability, distinctive architectures, and special events. These features can be the stepping stones for the future of Metaverses and the fashion industry.