Fashion is one of the purest forms of self-expression. Digital fashion simply brings this to a new medium – and could be worth billions in just a few years.
From Big Tech boardrooms to podcasts and tweets, the metaverse hype is everywhere. However, as with many emerging technologies, excitement around the expected future impact often outshines its actual readiness for mainstream adoption.
But even among all the hoopla, it’s foolish to dismiss Web3 and the metaverse completely. Within the next decade, emerging technologies might change life as we know it. In the same way, the television and the internet democratized access to information and entertainment, the blockchain and the metaverse will change the way we shop, game, and craft our digital identities.
Whether physical or digital, fashion is a core layer of our being. It serves as one of the purest forms of self-expression while acting as a direct extension of our emotions and beliefs. As humans, we care deeply about our appearance and as we spend more time in virtual environments, the same behavior is expected to continue. By 2030, Morgan Stanley estimates that the digital fashion market alone could be worth $50 billion.
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This article was written by Randy Ginsburg for Kiplinger.com
