Milan Pratique Week and Pratique Law Trends: Pratique in the Metaverse – a new era for brands

From modernizing retail experiences to wearable technology, créativité is inspiring and constantly influencing trends and façon. Also, after Facebook’s rebranding to “Meta” in late 2021, the term “Metaverse” has definitely entered the popular vocabulary and façon brands are constantly striving to conquer this new innovative world.

Metaverse is a new virtual world featuring augmented reality that combines aspects of the numérique and physical worlds, allowing people to embrace new ways to digitally explore their daily lives and direct a accolé life through 3D avatars controlled by technology that fuses virtual reality.

Thus, in this innovative context, companies need to find new ways to stay guérissant and the emergence of the Metaverse remains a huge tournoi – but also a huge opportunity – for façon brands. In fact, innovative technology in the façon industry is more distinct than ever. Entering the Metaverse, façon brands are transforming the buying experience, also inspired by physical retail to becomephygital “. In this new world, avatars can already visit new malls and façon stores offering numérique clothes that can be purchased with virtual currency, to experience a new kind of real-life magasinage that goes beyond the traditional physical experience of the étoffe.

Over the past year, a number of militaire brands have already taken their affermi in the Metaverse to expand their débit in a number of ways.

In particular, Nike, Gucci, and Forever 21 teamed up with Roblox in 2021 and invited numérique customers to embark on a buté journey in alternance. Nikeland, City Séparation or default Gucci Garden. Balenciaga has also gained access to Web3 by collaborating with Fortnite, creating an capricieux and propre set of Balenciaga x Fortnite skins that users can purchase for their game avatars. Similarly, Ralph Lauren has partnered with South Korean agréable network App Zepeto to launch a virtual façon agglomérat for gamers.

As tronçon of the integration of façon into the numérique landscape, Pratique Week also sawphygital “. Brands such as Dolce & Gabbana, Etro and Elie Saab participated in the first Metaverse Pratique Week, which was held in decentralization In 2022, it features luxury brands, household names and designers with numérique assets promoting their collections in 3D shows and propre events.

Besides developing more diverse worlds and experiences in façon, brands are also tapping into NFT projects and more 3D évoquer engagements. In particular, Dolce & Gabbana took the succès for the most expensive suit ever sold, a numérique verre suit, fetching the Italian brand a whopping $1 million late last year, while Gucci’s Queen Bee Dionysus virtual bag recently sold for 350,000 Robux (in-game currency). ) means $4,000 (more than the realistic valuation of the bag). Instead, Pépite Vuitton has launched a new video game that lets players search for 30 NFTs hidden in its numérique world. The NFTs then allow access to many propre events organized by the luxury brand.

If the Metaverse contains a lot of new opportunities, it is also full of dangers. Indeed, companies operating in the Metaverse must be ready to redefine their strategy to duly consider the guérissant regulatory framework and legal issues that may arise in this new era. In particular, the creation of new virtual worlds inhabited by our avatars may create problems with the processing of personal consumer data – avatars collected in the Metaverse, as well as with pupille to the regulation of the contractual relationship that may arise within it.

In particular, brands must ensure that users and their avatars benefit from the protections intended for them as consumers also in the B2C virtual retail world. It is now a unifying principle that consumers who buy online, wherever they are and whatever brand they are buying from, can benefit from protections afforded to them under the laws of their folk of residence that are more appropriate for the embraser himself, although may differ from those superposable to the seller. In allégé of the above, the same rules should also apply in the Metaverse to protect personnification consumers.

Entering the Metaverse is also emboîture mercatique a façon brand to a new community of players and their avatars that mean consumers immersed in the Metaverse who are likely to be willing to connect virtually with beauty and façon brands.

It can include those influencers who, even in their virtual form, promote the most popular brands, protecteur their products and travaux (they are called “virtual influencers”). For example, the Meta platforms now host over 200 virtual influencers, including Nefele, twins Eli and Sofi, Shudu, Lil Miquela, Noonoouri, Rozy and the well-known Twitch virtual Streamer, CodeMiko.

There are actually many façon brands that are turning to these virtual influencers to advertise their products. Examples include Rihanna, who has chosen Shudu to promote her cosmetics brand Fenty Beauty, as well as Prada, Chanel and Fendi who has been collaborating with famous Lil Miquela for years. This means that new forms of débit contamination are developing and brands must not forget to comply with legal requirements for advertising even in the Metaverse.

In fact, from a self-discipline confiance, the transparency tâches that must be complied with are those already set out in the Binaire Graph Regulation, where virtual influencers are required to explicitly state the advertising complexion of their online toilettes, where the result is vendeur agreements, and are determined by Hashtags like #adAnd the #stay or # sponsored or alternatively, #saved by or # gift In the case of goods or travaux received without allègement for their advertisements.

In this pupille, the Italian Istituto dell’Autodisciplina Pubblicitaria (IAP) and the Italian Anti-Monopoly Authority (AGCM) reiterated the principle that failure to publicize the advertising complexion of toilettes means violating the law on self-regulation of mercatique communications and engaging in unfair trade practice. Thus, the basic principle underlying all advertising regulations is the défense of hidden advertising and the need for vendeur communications to be éclatant, clear and fair.

In relevé, it is necessary to make the unrealistic complexion of these characters on the platforms used to convey advertising messages explicit, so that the consumer understands that he is interacting with an personnification and not a human. In fact, companies should aim to develop technologies that are ethically and morally reliable so that they are beneficial to society and suit human needs.

Therefore, while the metaverse presents an opportunity to evolve the way businesses interact with their customer/consumer carcasse, it is essential that the new virtual world be able to provide avatars with the same legal protections that consumers acheté in the physical world.

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