Virtual Fashion Week a Huge Success in the Metaverse

The Metaverse Fashion Week (MVFW), the first fashion week of its kind, was held on Decentraland from March 24-27, featuring over 60 brands showcasing more than 500 looks and the very first digital catwalk. 

MVFW was not just a milestone for the fashion world, it was a monumental step in the digital world and revealed in glittery glory the endless possibilities the metaverse has. Decentraland, the host of the MVFW, is built on the Ethereum blockchain and started as a pixelated 2D grid before evolving into a 3D universe.

The captivating four-day, completely free event allowed users to attend fashion shows, partake in after parties and buy NFTs from their favorite fashion brands using MANA, the platform’s native cryptocurrency. Some of the most prominent brands and stores at the event were Selfridges, Estée Lauder, Bulova, Tommy Hilfiger, Dolce & Gabanna and more. 

MANA, an erc-20 token, was not just used for MVFW, it also gives Decentraland users access to purchase estates, avatars, wearables, and unique names through the Decentraland marketplace

Erc-20 tokens are Ethereum tokens used for all smart contracts on the Ethereum blockchain for token implementation and provides a list of rules that all Ethereum-based tokens must follow. Some other Erc-20 tokens are Chainlin (LINK), Tether (USDT) and Shiba Inu (SHIB). 

Decentraland, one of the biggest players in the metaverse, was founded in February 2020 and is overseen by the nonprofit Decentraland Foundation. Some other prominent companies involved in the metaverse are HyperVerse, The Sandbox and Roblox to name a few.

Author: Tyler Irvin

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