Decentraland launches Metaverse Fashion Week. In the blockchain-based virtual world, non-fungiable token (NFT) collections are on display, with high-end designers and wearable vendors coming together. Meanwhile, Decentraland’s MANA token remained stable. Here are the details…
Decentraland hosts fashion week
Brands such as Estée Lauder, Tommy Hilfiger, Dolce & Gabbana and Forever 21 are all participating in the virtual fashion event. Many spent weeks setting up copyrights on the metaverse as a preemptive brand protection strategy before the NFT premiere. With the rise of digital products and metaverse shopping experiences, Decentraland’s creative director Sam Hamilton aims to provide a space for people to express themselves and expand their sense of self through wearables in their avatars.
Hamilton, “I see people being so much more extra in the Metaverse. “As a result of the event, People will see a really great use case for NFTs.” The fashion week in Decentraland’s “Fashion District” section will continue until 27 March. There are galleries and shows as well as places to buy digital wearables.
MANA price remains stable
Hamilton said NFT platforms are also engaged. NFT marketplace Rarible will house a store called Rarible Street. As Kriptokoin.com have previously reported, Boson Protocol, which bought a land to build a metaverse shopping center last June, built a store boulevard for brands to sell their wearable products. According to Hamilton, this is an opportunity for research and development for some brands; For others, it’s an opportunity to enter the crypto space by selling metaverse clothing.
Meanwhile, the MANA token used in Decentraland rose to $2.70 during the day, but seems to have remained at $2.66 at the time of writing. MANA is an ERC-20 token that must be burned to receive non-fungiable, i.e. immutable ERC-721 LAND tokens. MANA tokens can also be used to pay for a range of avatars, wearables, names and more in the Decentraland marketplace.
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