If the world of web3 and the metaverse still seem intangible in their existence, a prediction from the international consulting firm McKinsey will dispel any doubts about their dominant reality.
Millennials, Generation X, and Generation Z are expected to spend between four and five hours a day in the metaverse, according to a survey by the international consulting firm McKinsey of more than 1,000 people between the ages of 13 and 70. The figure is comparable to a study by the market and media research company Nielsen that indicates that consumers spend up to five hours a day watching television.
New business models and social networks are taking advantage of the opportunities offered by web3, but the fashion sector has only entered, for now, the experimentation phase.
To fully participate in the metaverse and its immersive experiences, specific devices are required. This realm of web3 is still in its infancy, with wide adoption of VR and AR products that are not yet widely available due to their usage limitations. Perhaps when Apple introduces its first wearable device next year, the trend will take off.
Immersive experiences need devices
Today’s virtual reality experiences require headsets, goggles, and some kind of controller to fully immerse yourself in a digital experience.
Augmented reality, which mixes the physical and digital worlds, like shopping in the metaverse, also relies on devices, cameras, and technology like digital wallets.
Retailers and brands are exploring options for selling products using AR in areas such as virtual fitting rooms and body scanning, as well as testing makeup and beauty products, where a simple shade of lipstick can be rendered over a facial image. or a skin tone.
Ouroboros, a London-based tech fashion brand, is an early adopter of digital fashion, merging science and technology with physical Haute Couture and digital ready-to-wear.
McKinsey’s prediction about the time spent in the metaverse is decisive in terms of its implementation by users and the magnitude that it could have. In its “Value Creation in the Metaverse” report, McKinsey seeks to better understand the value of the metaverse, where the greatest traction could occur, and what companies can do now to create value.
Time will answer all these questions, just as it will clarify how fashion can successfully leap digital and alternative realities. However, the most pressing question of all is: how quickly can they get it?