The Metaverse Fashion Week 2023 and the ARwards of Over the Reality They were an incredible opportunity.
The data shows that participation was lower than in 2022, but is there really anyone who believes that technology will stop here and that humanity will be satisfied with where we are now without further development?
We are at the beginning of a technological revolution that is starting to have concrete and useful use cases. We have the opportunity to position ourselves in a Blue Ocean that is still unknown to most, and that once it becomes apparent to everyone will no longer offer the advantages of today.
If I had to describe the spirit with which we are experiencing this transition, I could paraphrase it as follows:
"If we were to fail, we are already more than enough in number, but if we succeed, the fewer we are, the greater our share of glory will be! We could not have wished for a single more participant in this edition of MVFW23. We participants, we few participants, we lucky few! Those who did not feel like participating surely saved some money today. But those who believed in it, in 10 years from now will be able to say they were there and show their own NFT and its own Wearable mint on the blockchain, it will certify what has been and in the name of MVFW it will rise higher. And this event recorded in the blockchain will be eternally remembered with the names of us few, we happy few!”
Putting aside the Shakespearean folklore, the spirit with which we live this period is not too dissimilar in good and bad. However, this decline in numbers is not an issue related to MVFW, nor to the crypto world. The current Bear Market is mainly linked to the correlation with the correction of traditional markets and the liquidity injections made by central banks during COVID that triggered inflation and the rise in rates (with culpable delay). Paradoxically, the context is a great Bitcoin ad & co.. Furthermore, if we look at where technology was at the beginning of the last bubble, we have made incredible strides in just a couple of years! How can we think that we will stop right now?
Perhaps this is also why we are classified as Metagate at MVFW23 on OVER la Realtà with our “Metaverse Fenix” (model made also for Decentraland) we were particularly pleased. The wearable in question was meant to be just a wish for the Metaverse of a rapid recovery after the last year of undeniable suffering.
Moreover, despite the technology being in its infancy and the participation not being exceptional, the quality level of the proposed wearables was truly high, and we are aware that there was no significant gap between the offerings. This is certainly a motivation to continue improving, knowing that technology is growing exponentially and it only takes a moment of distraction to miss the train.
But apart from the glory, the MVFW23 was for Metagate a success especially in relation to the investment and this is what really matters in the end, even as a case study for third parties.
As Metagate, we had the opportunity to walk the runway with Gucci, Pinko and Ilona Song. We had important networking moments with people we would never have had the opportunity to interact with. We multiplied contacts with universities and students who are approaching these experiences in their theses and doctorates from a multitude of disciplines: art, architecture, psychology, economics, marketing (every mention is not purely coincidental). In conclusion, as a startup, the exposure this event gave us could not have been achieved in any other way.. and it's just the beginning.
Nowadays, it is common to fall into the cognitive bias of comparing oneself to the results of large companies. With decentralization, however, in our vision, we see a world moving towards giving more space to the merit of the individual as well. From the perspective of a small entity, this is a unique opportunity that should be seized. Here, new communities, new organizations, and new DAO that will influence humanity in the near future. In response to this new cultural and economic model, traditional companies can either dig in their heels and resist fiercely, competing with the entire world; or they can listen and take a step back to understand how to reposition themselves intelligently with de-risking strategies. Today we are all fortunate because we are still in the early adoption phase where anyone is allowed to make mistakes, even the big players (after all, their target audience in web3 will likely be different from that of web2). We all start on equal footing. As someone once said: the best time to start was probably yesterday, but the second best time is today!
I would like to conclude by sharing the narrative of two other wearables that we presented during MVFW23, which conveyed two additional messages related to reflections on personal identity in the metaverse, which was important for us at Metagate to communicate:
1. The digital-twin in collaboration with Elle_IZED, which wanted to emphasize the possibility of staying true to oneself in the metaverse. It is certainly possible to choose to be anyone, but one can also choose to be oneself;
2. il “Wallent” instead is essentially a dress covered in moss and bark. This was a reference to the Ents from The Lord of the Rings, who used the name for living creatures as the sum of the experiences they had lived. The use of our wallets that record all our experiences and transactions could really create repositories of virtual identities that identify us in a way similar to our name in Entish.
I wanted to emphasize these 2 elements because in web3, the individual’s responsibility is very strong, to which we are no longer accustomed. “Not your key not your wallet” is the sacred motto of many maximalists. Over time, we have delegated to intermediaries the custody of our assets, our data, and our identities. However, delegating a responsibility does not only lead to a better User Experience at the cost of losing control over our properties. It also has a much worse side effect: it has made us unlearn how to choose to take on our responsibilities. The blockchain is a cold shower for everyone at the beginning. We are not used to choosing even who to be, but it is the system that "suggests/imposes" it on us.. It is often said that in the metaverse we will be able to choose who we want to be, but we are no longer used to choosing. The avatar will no longer just be a skin won in a video game, but will be representative of the person who chose it (the NFT They are pioneers in this). The choice of how to present oneself will be an expression of a cultural revolution much deeper in which people will be called again to choose and reclaim their own identity, data, and property. What may now appear as a fashion show actually carries with it profound cultural repercussions of which it is premature to try to imagine the outcome.
Finally, it is important to emphasize that 5 different NFTs have been created for this event. POAP that have been added to the Metagate collection!
Waiting for Meta Quest 3 and Apple Vision PRO!!
