London Fashion Week saw its Fall 2023 schedule out with a bang on Monday, with Moncler hosting the biggest, most star-studded activation on the fashion week calendar. Over 10,000 members of the public gathered to experience the brand’s spectacle. As a parting gift, attendees were handed a free Moncler non-fungible token that will unlock early access to Moncler’s Genius collections.
Besides Moncler’s “genius” approach to onboarding its fanbase to the metaverse, Valentino is also banking on making noise across the digital luxury fashion industry. The Italian Maison has partnered with NFT marketplace UNXD (the brains behind Dolce & Gabbana’s $6 million NFT drop) to further its community building efforts in the virtual realm. But the label has its work cut out as competition in the Web3 high fashion universe is rising.
In China, Meta Street Market is capitalizing on K11 Shanghai’s cultural clout by opening up its first offline flagship and coffee spot in the art mall. A popular destination for the district’s tapped-in creatives, the country’s first Web3 sneaker brand is hoping to cultivate a distinct identity among Shanghai’s trendsetting crowd.
Meta Street Market Hosts Offline Flagship And Coffee Spot Experience At Shanghai’s K11 Art Mall
What Happened: Metaverse-first sneaker brand Meta Street Market has set in motion its newest experiential project — an interactive exhibition playground at Shanghai’s art-retail hub K11, complete with a Web3-themed coffee shop called “Café de NFT.” The offline flagship for Meta Street Market also includes a selection of on-chain digital art merchandise for audiences to browse, as well as virtual clothing, gift boxes, and the first Chinese meta-universe shuffleboard game.
The Verdict: Meta Street Market is putting digital fashion on the radar of every KOL across the mainland. Tapping into K11’s popular cultural status in China, the brand is pushing to define itself among Shanghai’s cool crowd and leverage the power of influencer hotspots. Following the launch, netizens have also responded positively to the project, claiming that the collection looks stylish and attention-grabbing. For startups looking to make noise across the virtual fashion scene, Meta Street Market’s conceptual, cross-boundary experience may have just kicked off a new trend in the Chinaverse.
Valentino Prepares To Launch Its First Major Project In Web3
What Happened: Valentino has teamed up with UNXD on an ambitious new metaverse project. While more information on the venture is yet to be released, the partnership will focus on bringing Valentino’s iconic presence and house codes to Web3, with a focus on creating cross-boundary, community-building experiences. The house hopes to bring together digital and physical fashion through innovation, with the goal of integrating the brand’s online and offline audience.
The Verdict: The project is Valentino’s first big foray into the metaverse. While other luxury names rushed into the virtual world last year, the Italian house has been quietly planning its strategy behind the scenes. But for Valentino to survive and thrive in Web3, it will need to deliver on its community-building promises in an authentic and sustainable manner. Luxury fashion’s metaverse market remains unreliable, and futile efforts simply no longer cut it — something that’s become increasingly clear over the past 12 months.
Partnering with one of the most established companies in the space (UNXD was behind Dolce & Gabbana’s colossal NFT drop back in 2021) will undoubtedly help jumpstart Valentino’s entry into the digital realm. However, it’s what the house does next with its roadmap that will determine its future there.
Step into the future with @moncler – thrilled to reveal my latest project for #MONCLERGENIUS. Also will give away 2 special NFTs to the most creative comment. pic.twitter.com/1SLkwNEvkK
— Antoni Tudisco (@antonitudisco) February 20, 2023
Moncler Gifts NFTs To 10,000 Members Of The Public During ‘Art Of Genius’ Exhibition
What Happened: As part of its The Art Of Genius installation and event that took place in London on February 20, Moncler handed out free bespoke NFTs as gifts to all attending guests. The tokens were designed by digital artist Antoni Tudisco and will give holders early access to future Moncler Genius collections, enabled by French digital platform company Arianee’s Web3 consumer solutions.
The Verdict: In addition to its cleverly executed, viral exhibitions like The Art of Genius showcase, Moncler is integrating NFTs into its wider experiential efforts while offering benefits to owners along the way. Utilizing tokens at major events like these not only helps Moncler expand its online and offline presence, but is also a sleek move in onboarding the masses to Web3.
Whether audiences opt to keep the token as a collectible or make use of its upcoming perks, Moncler’s strategy demonstrates how brands can use digital assets for more than just generating profit. The project also deepens Moncler’s relationship with Arianee, which also created the NFTs for the label’s 70th anniversary event last year.