Your digital bag brand for the metaverse?
More and more emerging bag designers are taking the lead of bigger luxury brands like Burberry, Balenciaga, and Gucci and launching digital collections on the metaverse.
The bag industry has only recently begun experimenting with the Metaverse. It seems like a fair bet to say that all its customers will eventually end up using it in one way or another. So, it is important to decide how to position your bag brand on the metaverse. Will it pay off to invest time and resources to get your digital bag collection?
How much time should you invest to get your bag brand on the metaverse?
To be able to answer this question, you need to think about your own digital skills. The more you can do yourself, the more fun the faster it will go. But you can also hire an agency to get your digital bag brand on the metaverse.
How to get it all started?
Train yourself with design software
The metaverse is all about experience, it all should look as real as possible. So, when you have experience with 3D designing programs like, Adobe Substance 3D, Backbone PLM, or CLO 3D. If you want to master these tools, try out one of the many free online tutorials on how to master these tools.
Different virtual realities will ask you to use different software tools to create your digital bag collection. So understanding of traditional 3D modelling and product design will make the whole process easier and faster for you.
Identify the right multiverse for your digital bag brand.
Put enough time and effort into this part of you plan to launch your digital bag brand. Many different companies, games, and virtual realities contribute to creating versions of the Metaverse. Finding the right place is essential.
Many metaverse platforms prefer to work with bigger designers and luxury brands to contain the potentially unstoppable amount of content on the platform that users could create. Two of the multiverse domains that currently allow everyone to launch digital wearables are Decentraland and Roblox.
Secure multiverse approval for your digital bags
Choosing the most appropriate game or platform for your brand and products is only part of the hustle. You may be requested to submit your creations for an official revision before you receive clearance to start selling your items in the Metaverse.
For example, Decentraland requires that its own Decentraland Curation Committee reviews and approves every work that appears on its platform. And as Decentraland’s website says, “collections may be reviewed and rejected multiple times before final approval.”
How much money you need to launch your digital bag brand?
A big advantage is you will save a lot of money on producing samples, sourcing different materials, and storage room for your physical bags. All these elements nobody needs to have operational on the metaverse.
But still, the final expense of creating a digital bag collection could still run up high. Creating a bag or other fashion item in the metaverse can vary from $1 to $700 per item, while their manufacturer’s suggested retail price can range anywhere from $10 to $8,400!
Experts say, a first collection should include between 10 and 12 items, although some digital collections have presented collections of fewer looks.
Be an original bag designer
It might be the easiest way to copy paste a successful product, but if you try to reproduce a Gucci or Hermés bag in real life, you will end up with a lawsuit for counterfeiting.
The same goes for the Metaverse you would have to factor in your products “digital rights” – or NFTs – into the cost of creating each item. This will help prevent other brands or designers from recreating the looks of your digital bags without giving you the credit for them.
What is the cost of creating a single digital bag?
The choice to create and sell a bag without owning its rights is yours. But that still comes at a price. To get your digital bag on the metaverse, you must pay a fee to the platform. The fee depends on the platform, so again, it is good to invest some time to find the best platform for you. Both for the market you want to service and the expenses.
Is it smart to start your digital bag collection on the metaverse?
Going to the metaverse with your bag brand, should fit with your marketing mix.
While a digital fashion bag collection might be a better, more suitable solution for some designers, others might still find the risk too high to invest time and resources on this new marketplace. Do not forget people still need clothes in real life even if parts of their lives move more online.
The great thing is the whole concept of Metaverse is still in development and this gives you room for a lot of exploration and innovation. That can lead to success or failure.
Contact our sales team to see how to combine a digital presence with a line of fashion bags your clients can buy in real life once they have assessed the bag in the metaverse!