LG Uplus, the third largest South Korean telecommunications and mobile phone operator controlled by the LG Group, is reportedly launching a clothing store in the metaverse, called, “Meta Slap”.
A New Digital Clothing Store
According to a new report, the digital clothing which is being developed with South Korean fashion companies Ation Fashion and Z-Emotion will offer a digital service for office workers, to develop metaverse commerce in fashion. On July 9, the three businesses, together, signed a memorandum of understanding (MOU) to run Meta Slap that will combine both the physical and virtual worlds.
The online clothing marketplace will also provide links to offline products, allowing users to purchase real-life items straight from the metaverse. In addition, LG Uplus Corp., Ation Fashion, and Z-Emotion also plan to introduce an artificial intelligence-powered fitting room to enable users to dress up their digital avatars.
This comes shortly after LG UPlus launched another metaverse platform called “Kidstopia,” in February 2023. The digital platform will seek to allow young children to take assessments, learn English, gain knowledge about various topics and offer other wide range of engaging and educational content.
Use Cases in Virtual World Shoot Up
In recent years, the Metaverse has become a bustling and growing virtual world with users enjoying various activities within the virtual world. Metaverse use cases have also shot up with many users across the globe having begun to create virtual worlds that replicate their real-world environment. This includes virtual homes, which can be customized with virtual furniture, digital avatars of themselves, digital offices, go shopping, get a job, among many others.
Leading companies like Meta, Google, and Microsoft are taking proactive steps toward creating their metaverses. Big brands have also started using AR and VR in their business models actively to offer their customers new levels of interaction and engagement.
Metaverse Fashion Gains Massive Traction
One such industry, that has witnessed massive traction in the digital realm is fashion. Fashion giants including Gucci, Armani, Dolce and Gabbana, Hermes, Louis Vuitton, Burberry, Prada, and Nike among scores of other clothing brands have dipped their toes in the metaverse sea. Of late, metaverse fashion shows have witnessed huge traction among fashion enthusiasts.
Metaverse Fashion Week sees VR go vogue pic.twitter.com/nILMN6ysXm
— CNN (@CNN) May 23, 2023
Earlier this year, Metaverse Fashion Week, an event in Decentraland, a 3D virtual world browser-based platform, saw participation from more than 60 companies where these fashion brands built virtual spaces to show off clothes, digital architecture, and fashion vibes.
It seems this growth momentum will accelerate as more and more fashion brands enter the metaverse platform. As per a recent report by Technavio, the global metaverse in fashion market size is estimated to grow by $6.61 billion from 2021 to 2026, at a CAGR of 36.47%.