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Inside Brand Play
Most brands are testing the potential of Web3. The technology is largely used for marketing campaigns and engagement with young, digitally savvy consumers. Not many have been able to create tangible business models, while others have monetized NFTs. But the fact that Roblox’s virtual Gucci Garden attracted 19 million visitors and the success that brands like Burberry have had with NFT, however, seems to suggest that brands are moving in the right direction.
BMW: BMW has built its own metauniverse called Joytopia, which VP of Brand Communication and Brand Experience, Stefan Ponikwa, claims will allow the German automaker to take brand communication to a new level. Joytopia has three virtual worlds — Re:THINK, Re:IMAGINE and Re:BIRTH. Each is themed around elements integral to BMW’s strategy – circular economy, electric mobility, urban mobility and sustainability. In Re:THINK, users are introduced to the building blocks of the circular economy. The Re:IMAGINE world provides the stage for important presentations and announcements, while Re:BIRTH provides insights into the possibilities of individual mobility in cities. Joytopia users can navigate the three worlds through their avatars, who have the freedom to run, fly and jump. They can choose shapes and colors in which they wish to dress their avatars. At public events, users can create their own spaces, take selfies and post them on social media. The group says more than 1,50,000 visits were recorded from over 30 countries on the day of launch with an average duration of 13 minutes.
Balenciaga: French fashion house Balenciaga released an exclusive collection of clothing and select accessories last September on the Fortnite metaverse gaming platform, which has a global following of over 350 million. The campaign involved dressing four of the game’s most popular characters, Doggo, Banshee, Ramirez and Knight, in Balenciaga outfits, or “skins” as they’re called in gaming parlance. A virtual Balenciaga store in the gaming arena allowed users to purchase items from the fashion house using V-Bucks, an in-game currency used in Fortnite, and place their in-game avatars in Balenciaga. The partnership has expanded into the physical realm. Balenciaga’s outfits were available online and in select physical stores of the brand. Co-op seems like a smart move considering Fortnite players spend almost 50% of their time in creative mode, used to design their own universe and play role-playing games.
Dolce Gabbana: Italian brand Dolce & Gabbana presented a bespoke collection of 20 wearable looks in the metaverse at the first Metaverse Fashion Week hosted in the Decentraland virtual world earlier this year. Last year, it partnered with luxury NFT platform UNXD to launch a bouquet of nine NFTs called “Collezione Genesi”. The NFT collection, featuring handcrafted museum-grade objects personally designed by Domenico Dolce and Stefano Gabbana for UNXD, sold for nearly $6 million. According to details on the website CoinDesk, The Doge Crown NFT raised the highest 423.5 ETH (Ether, the cryptocurrency of the ethereum network) or about 1.3 million dollars. Five pieces were reportedly physical creations (the winners of these NFTs also received physical products). The company recently launched the DGFamily NFT, which allows holders to take advantage of benefits such as access to exclusive drops, events and collaborations.
Louis Vuitton: The brand launched a mobile app game with 30 embedded NFTs, some created by renowned American digital artist Michael Joseph Winkelman, as part of the celebrations initiated last year to mark the 200th anniversary of the birth of its founder. The game takes players through an adventure path spanning virtual worlds to help protagonist Vivienne collect 200 candles that will unlock postcards detailing Vuitton’s life journey. Postcards are shaped like NFTs. The game has seen more than two million downloads since its launch in August 2021.
Gucci: The brand was one of the first in the luxury industry to delve into NFT when, in May 2021, it auctioned a unique artwork drawn from the Gucci Aria campaign film at Christie’s and donated the proceeds to UNICEF USA. The auction reportedly ended with a final sale price of $25,000. The house also collaborated with Superplastic (which makes animated celebrities, vinyl toys, and digital collectibles) to create a series of rare, limited-edition NFTs.
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