Yahoo Finanza After Victoria’s Secret, Skechers Enter the Decentraland Metaverse
Key Insights:
Skechers has leased a 5,000 sq. foot space in the Decentraland.
The Metaverse Group will be acting as the landlord for Skechers.
Fashion is becoming an integral part of the Metaverse thanks to the involvement of luxury brands.
In a press release yesterday, Metaverse Group, a subsidiary of web3 investment company Tokens.com announced its deal with Skechers.
The 30-year old footwear brand leased space in the Decentraland Metaverse to establish an experiential store.
Skechers Goes to the Metaverse
The world’s third-largest athletic footwear brand will lease a 5,000 sq. foot space on the Fashion Street Estate in Decentraland. In this space, Skechers will be establishing an experiential store for the users.
The lease goes through Metaverse Group, which owns the land, making them the first virtual landlords. Adding to the same, the CEO of Tokens.com and Executive Chairman of Metaverse Group, Andrew Kiguel, said,
“We not only own valuable virtual real estate but also generate recurring revenue, similar to landlords in the physical world and online advertising platforms such as large search engines and social media networks.”
The President of Skechers, Michael Greenberg, called this agreement an investment in their future, further stating,
“We look forward to embarking on this virtual era, and exploring creative ways for our brand to engage with new customers and audiences as we launch the new Skechers experience.”
Metaverse for the Riches?
The emergence of multiple high-end luxury brands in the Metaverse is becoming a trend. As reported by FXEmpire, Victoria’s Secret filed trademark applications for digital collectibles and virtual goods earlier last month.
By entering into the Metaverse, the lingerie and beauty company intends on creating media and online clothing for use in virtual environments.
A week earlier, even Gucci purchased a property in The Sandbox. The Meta fashion craze has extended to the point where Space Runner, the Metaverse fashion brand, raised $10 million to develop a ‘Fashion Metaverse.’
Through this, Space Runner will be gamifying fashion by introducing the wear2earn economy where users can showcase their fashionable NFTs.
Thus, as the Meta-word spreads, one can expect more and more brands to become a part of this space and watch it transform into the future of marketing, or maybe even the Paris or Milan of Virtual Fashion.
This article was originally posted on FX Empire
