Adidas’ $20K Roblox necklace marks new era for fashion and gaming

The fashion industry has hit a new milestone with Roblox. After Gucci made history on the platform with its $4,000 virtual Dionysus handbag in 2021, Adidas has knocked that number out of the park with the sale of a one-of-a-kind digital necklace for $20,000. The accessory, designed in collaboration with Roblox creator Jonathan Courtney, marks the most expensive user-generated, limited-edition item ever sold on the channel. Unsurprisingly, its purchase has garnered the attention of gaming aficionados, fashion enthusiasts, and competing brands across the globe. What does it signal about the future of UGC (user-generated content) products in fashion? On the topic of Roblox, Givenchy Beauty has launched a new Pride campaign within its Givenchy House Roblox destination this week. Meanwhile, Loewe is bringing its On Running collaboration to the augmented reality-powered platform Wanna for consumers to virtually try on. Adidas sells $20,000 necklace in Roblox What happened: Late last month, Adidas broke Roblox records with the sale of a $20,000 digital necklace to high-end collector Simon Burgess. The diamond and gold necklace, created in collaboration with 25-year-old Cleveland-based Roblox creator Jonathan Courtney, was snapped up almost instantly by Burgess in Roblox for 2 million Robux (approx. $20,000). Burgess also received a physical pair of customized F-50 Elite Laceless Fast Reborn FG Boots and Campus 00s as part of the purchase. The necklace was part of a series of products designed in partnership with Courtney, which also included an Adidas-branded banana. The verdict: The community of creators, buyers, and collectors on Roblox has emerged as an undeniably valuable cohort for brands. Those, like Adidas, who have entered the platform early, are reaping huge rewards. While this isn’t the first time a branded product has sold for big bucks on the platform (Gucci’s Dionysus bag sold for $4,000 in 2021 and a Carolina Herrera dress sold for $5,000 in 2022), this sale marks the first time a brand has profited directly from a transaction. Previously, Gucci’s and Herrera’s items were sold via peer-to-peer transactions. Adidas is introducing a model that allows the brand not only to form connections with the platform’s most influential creators but also to receive direct profits from the sales of digital items. Givenchy Beauty launches Pride campaign in Roblox What happened: To mark June’s Pride Month, Givenchy Beauty has given its destination on Roblox a makeover in celebration of love, acceptance, and diversity. The brand teamed up with The Gang, a full-service gaming studio, and Like Fire, a creative studio dedicated to cultural activations, to build the experience. The reimagined virtual space features rainbows, flags, and an interactive pop-up area with curated collections of UGC wearable items designed by creators on the platform. Guests can participate in weekly quests to win prizes, engaging shoppers while spotlighting the creativity and diversity of the LGBTQ+ community. The verdict: As brands invest deeply in bolstering their brand awareness among Gen Z and Gen Alpha, they are becoming more intentional in their approach to popular hubs like Roblox. For Givenchy Beauty, this involves spotlighting the channel’s diverse creator base to win over players while tapping the platform as a means of communicating its inclusive ethos. With the global games market forecasted to reach $455 billion in revenue in 2024, gaming platforms like Roblox are catching up to social media apps like Instagram in engaging digital-native youngsters through marketing. Loewe x On join AR platform Wanna with virtual try-on capabilities What happened: Coinciding with the release of its latest activewear collection, Loewe has teamed up with AR-powered platform Wanna to launch its virtual try-on (VTO) experience for the new Loewe x On Cloudtilt 2.0 sneaker. Customers can try on eight different styles of the shoe virtually via Loewe’s official website. The verdict: Jumping onto the $56 billion augmented reality hype, Loewe joins the likes of Valentino in deploying Wanna’s AR try-on solution to elevate the consumer retail experience. Previously, luxury’s notorious sizing conundrum spurred high return and cart abandonment rates. Today, with spearheaders such as Wanna leading the way, virtual try-ons are emerging as the solution to this problem. But mass adoption remains a challenge. While receiving endorsements from fashion conglomerates like Farfetch is a step in the right direction, emerging tech still has a long way to go before it achieves ubiquity across the mainstream fashion sector. Meta Bites The Sandbox, bem.builders, Braw Haus, and DressX have teamed up on a new fashion gaming project, coined “The Art of Runway,” combining avant-garde fashion with immersive experiences. The activation features fashion looks designed by Braw Haus artists and enhanced by DressX, which players can dress their digital avatars in, as well as style themselves via real-life photos and videos using AR. The experience launched via The Sandbox on June 3. Tequila Don Julio has launched its first-ever global release of its limited-edition Don Julio 1942 expressions cask in partnership with Web3 spirits innovator BlockBar. The five expressions will go up for auction on June 20 via BlockBar’s official auction site. Each cask is individually numbered, finished with its own gold-embossed icon, and arrives with its own BlockBar-powered NFT, which collectors can sell or gift. At bottling, the tokens convert into 40 new NFTs, representing ownership of 40 cases of six Tequila Don Julio bottles.

Adidas’ $20K Roblox necklace marks new era for fashion and gaming

On this page

Published June 09, 2024

Sectors

Insights

Company

Adidas’ $20K Roblox necklace marks new era for fashion and gaming