Still hanging on?
Towards the end of 2021, the metaverse was on everyone's lips. Fast forward two years, and hardly anyone, not even Meta, is discussing it anymore. Is this the latest tech trend to fade away into obscurity? Despite the initial excitement surrounding the metaverse, it appears that we're still searching for practical applications that can truly create value. While there's a bit of fatigue from all the hype, and attention has squarely shifted to AI, it's interesting to note that Gen Z and Gen Alpha still actively spend time in the metaverse. Projections even estimate that the revenue could hit $400 billion by 2030.Let’s explore what continues to make the metaverse relevant in the cultural conversation
Towards the end of last year, Roblox dropped some new info by asking its 14 to 26-year-old users how they show themselves in the metaverse. Turns out, Gen Z is still all about avatars and digital fashion – sometimes more so than what they wear in real life!Of those questioned, they spilled that they feel more real and true to themselves in the metaverse. It's like a confidence boost and helps them connect with others. Interestingly, 36% said their avatar feels more like "them" than the version they show on social media.And digital fashion isn't just about looking cool; reports indicate that these findings underscore the vital role of digital fashion in the exploration of gender identity. Users leverage digital fashion to embrace gender-fluid styles and experiment with "body types that represent other genders”.
In an effort to provide more engaging experiences in virtual reality, numerous beauty brands are making their way into the metaverse. e.l.f. Cosmetics and e.l.f. SKIN, recently launched e.l.f. UP! on Roblox, aiming to assist Gen Z and Gen Alpha in developing valuable skills for the future workforce, encompassing coding, financial literacy, and social awareness.The game revolves around an open-world, tycoon-style setup, enabling users to step into the shoes of entrepreneurs running shops linked to e.l.f. Cosmetics products. As players navigate the game, they accumulate Robux, enhancing their virtual businesses. The ever-evolving game is designed to adapt based on community feedback received by the brand.
Macy's is venturing into the metaverse with the introduction of its digital fashion platform, mstylelab, aiming to forge stronger bonds with its younger customer base. Collaborating with the metaverse technology platform Journee, the department store is launching an immersive experience inspired by Macy's latest women's brand, On 34th.This immersive venture replicates the vibrant streets of New York City, allowing users to explore the virtual landscape. In a gamified twist, individuals can personalize their digital fabric within the experience, and the entire setting is designed to be shoppable