HUGO BOSS ENTERS
THE METAVERSE
We are in 2022, and the digital community that emerged following the explosion of social media is undergoing a paradigm shift. This community is gradually evolving towards the next iteration of the internet, led by technologies such as blockchain, NFTs, mixed reality (AR/VR) and spatial computing. Welcome to Web 3.0 and the metaverse!
But what exactly is the metaverse? There is no widely accepted, single definition of the term, but it is broadly understood to be a collective virtual world, accessible through different computer interfaces. Here, individuals can navigate through a variety of spaces as an extension of their real-world personalities with all their unique traits.
People spend time, even interact, in this virtual world, which coexists with the physical world. Rather than a completely separate universe, it is better conceived as a new “layer” to our physical experiences – with the two set to become ever-more closely entwined in the future.
Estimates of the value and potential of the metaverse vary, but a recent market research report from Fortune put its market size at over $100 billion in 2022, predicting that it will grow to more than $1,500 billion by 2029.
The huge business potential of the metaverse is drawn from the gaming industry, which already engages 40% of the world’s population, as well as myriad virtual elements: real estate, NFTs, and digital clothing for avatars.
This is where we come in. Fashion is the starting point of our metaverse journey. At HUGO BOSS, our motto is: we love fashion, we change fashion. The metaverse is an integral part of our growth journey as we target becoming the world’s leading premium, tech-driven fashion platform.
Our aim, in entering the metaverse, is to help customers connect their physical and digital identities, and offer them an exciting and engaging omniverse experience.
OUR FIRST VIRTUAL STEPS
In March 2022, we partnered with the global initiative Boss Beauties to auction NFTs for an empowerment project celebrating International Women’s Day.
Today, we are ready to begin building a strong presence in the metaverse. Watch this space to learn more about our exciting new NFT collection, coming soon!
