The Spring/Summer 2024 edition of Milan Fashion Week was a mix of elevated luxury fashion presentations, lavish parties in palazzos and rooftops, and digital fashion events.
Thank you for reading this post, don't forget to subscribe!It began with the “Web3 x Fashion” event, the brainchild of the European Web3 organization, BananaCorp and AKQA. Prestigious luxury fashion houses such as Prada, Dolce & Gabbana, Baleniaga, Moschino, Armani, Loro Piana, Valentino, Bally, Ray-Ban and others participated, as well as leading Web3 firms including Ledger, Tokenproof, Bored Ape Yacht Club creator Yuga Labs. participated. And the world of women.
What immediately caught my attention was the absence of digital fashion projects. It appeared that the event chose to focus on the challenges luxury brands face related to blockchain and other emerging technologies rather than seeking solutions from the new wave of fashion creators.
“We don’t speak your language and your terminology,” Mario DiDonato, group digital director of the Prada Group, said during a panel.
The disconnect between crypto natives and traditional brands and their customers has been raised many times before. Based on the spirit of the program, the communication gap is nowhere close to being resolved. And the data supports such a discrepancy.
“There are 8 billion people on the planet. Only 100 million have [crypto] Use a wallet or blockchain – about 1% of the population”, shared Ethan Pierce, co-founder of NFT Factory in Paris.
While some users have been into crypto for years, most people still have no idea what it means. Due to the early and experimental stage of the technology, no reputable brand with a solid financial plan would bet on it. Startups are more open to taking risks and experimenting to find solutions to problems in fashion, while titans proceed cautiously.
Speaker at the Web3X fashion event during Milan Fashion Week. Image: Sander Gensen/BananaCorp
“We will always be followers in adopting emerging technology because we want to ensure it is profitable,” confirmed Javis Macchi, global head of social media for eyewear giant Luxottica.
Nevertheless, companies recognize its potential value and are exploring how blockchain can provide greater value to customers and clients.
“Find problems that can be solved with blockchain,” said Gianluigi Zarantonello, Valentino’s director of worldwide digital solutions.
Concepts such as decentralized identifiers and verifiable credentials, improving supply chains, and reducing fashion’s environmental footprint were highlighted as the most valuable solutions that can be implemented through blockchain integration today.
Nevertheless, the incident left mixed feelings. Some of the biggest fashion brands are taking the plunge into Web3, and devoting an entire day to a tech-focused event – but it appears that even if there was a solution to making fashion 100% sustainable, it would still have to be will not be adopted unless it encourages them. Grassroots level.
Speaker at the Web3X fashion event during Milan Fashion Week. Image: Sander Gensen/BananaCorp
But elsewhere during Milan Fashion Week late last month, we saw fashion brands adopting Web3 technologies and the metaverse in a big way.
For example, Diesel marked this spring/summer ’24 show as its largest show by attendance, with nearly 7,000 people in attendance – and the rain proved to be an unexpected boon for Diesel, who created the most viral social Prepared media materials. The brand used NFTs as access passes to the show, showing the benefits of growing a community of holders and rewarding them with real-world benefits.
Arguably, one of the most eagerly awaited collections of Milan Fashion Week was Gucci’s Ancora, thanks to their new creative director, Sabato di Sarno. Gucci also hosted a show on several Metaverse platforms, including Roblox Space, where there were over 250,000 visitors on the day of the show.
The conservative stance of some fashion brands towards blockchain use cases is not surprising, but you don’t have to look too hard during Milan Fashion Week to find examples of giants that are eagerly experimenting and providing their customers with new Are attracting in ways. A divide remains – but it is shrinking with each new technology adoption.
Source: decrypt.co
