Metaverse news and archive

Can social media be held accountable for poor mental health?

Hundreds of private lawsuits have been filed against social media networks in the US, which depict a toxic social media landscape that is harmful to young people. The lawsuits aim to hold social media platforms accountable for the detrimental effects on young people's mental health. Over 200 suits have been joined together in one class action...

Business

Gucci metaverse head Robert Triefus to step down

Robert Triefus, a veteran of Gucci, is reportedly set to exit the luxury brand 15 years after he initially joined. Triefus’ departure comes just six months after he was appointed chief executive officer of Gucci Vault and Metaverse Ventures, which he took on alongside his position as senior executive vice president, corporate and brand strategy....

Podcast

Podcast: Why fashion house Gucci believes in the metaverse and Web3

Italian fashion house Gucci is continuing to bet on the metaverse and Web3. Last September, the company CMO even switched roles and became CEO of Gucci Vault and Metaverse Ventures. In this episode of the The Business of Fashion Podcast, BOF explains why the fashion house believes strongly in this technology. Source: The Business of Fashion Podcast

Fashion

Hugo Boss joins Metaverse Fashion Week

Metaverse fashion week has added Boss to its roster of brands, which also sees Dolce & Gabbana, Coach, Tommy Hilfiger and Adidas participate in its Fall 2023 edition. The three day event, which ends Friday, 31st March, sees Boss operating a virtual showroom as an extension of its SS23 Miami fashion show. In a statement the company said the...

Fashion

Gucci strengthens metaverse presence with Yuga Labs collab

Gucci is continuing its metaverse activities, having signed a multi-year partnership with NFT giant Yuga Labs, the company behind Bored Ape Yacht Club and CryptoPunks. Spanning fashion and digital entertainment, Kering-owned Gucci is building its presence in the metaverse and Web3 domain. The luxury house is investing to further establish itself...

Business

DressX raises 15 million US dollars in Series A round

Digital fashion retailer DressX has raised 15 million US dollars in a Series A round led by Greenfield Capital with participation from Slow Ventures, Warner Music Group, Red Dao, and other investors. The funds raised will allow the company to “scale its vision of the future of fashion,” explained DressX in a statement, as it looks to improve the...

Fashion

Charles & Keith taps virtual K-pop artist for The Sandbox virtual world

Footwear and accessories brand Charles & Keith is expanding its presence in the metaverse world, with its first virtual world, CharlesKeithHaus, on The Sandbox platform and has tapped virtual K-pop artist Apoki to appear. The virtual world is modelled after the retailer’s spring/summer 2023 campaign ‘State of Play’ and is curated to reflect the...

Business

Aéropostale enters metaverse with digital brand experience

Retailers still can’t get enough of the metaverse as they continue to enter into digital spaces in order to connect with the young, tech-savvy consumer. The latest to embark on this journey is Aéropostale, which has teamed up with MetaversePlus to design, develop and expand its presence in Web3. Established together with the brand’s owner,...

Fashion |Technology

Deloitte helps brands deliver metaverse experiences

Global audit and advisory firm Deloitte has launched an immersive experience platform in partnership with technology provider Vatom. The two companies have created a tangible experience to enable brands (and other businesses) to build virtual spaces for their customers, partners and employees. In essence, they have made the Metaverse accessible....

BusinessFeatured

The start of 2023 has proven to be shaky for the metaverse, but what is holding it back?

The metaverse buzzword has been inescapable in recent years, shimmying its way into almost every industry, and particularly dictating the way in which fashion brands are beginning to approach young consumers. From digital collection drops to virtual store openings and immersive online environments, the sector has been explored in almost every...

Fashion Featured

Hermès wins MetaBirkins Trial

Hermès has won its infamous MetaBirkin case, with an American federal court citing artist Mason Rothschild's sale of NFTs infringed Hermès trademarks, even in the digital realm of a largely unregulated metaverse. A jury of 9 persons awarded damages of 133,000 dollars in favour of Hermès, which included profit of NFT sales and 23,000 dollars for...

Business

Yves Saint Laurent files series of metaverse trademarks

Yves Saint Laurent has filed for a number of trademark applications hinting that the French luxury brand could be next in line to join the metaverse. According to the trademark applications, YSL is setting out to cover its name and logo within the realm of non-fungible token (NFT) and metaverse. The applications mainly centre around beauty and...