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META IS SET TO LAUNCH A DIGITAL MARKET PLACE IN PARTNERSHIP WITH BALENCIAGA, PRADA, AND THOM BROWNE

One industry that has benefited greatly from the metaverse is the fashion industry, as it has allowed brands to stimulate virtual experiences for their customers.

The social media giant Facebook which is now rebranded as Meta has also dabbled into the fashion industry. Meta in partnership with three iconic brands Balenciaga, Prada, and Thom Browne is planning to launch a digital fashion store called the Avatars store.

The partnership will help these brands sell fashionable avatars. The CEO of Meta, Mark Zuckerberg has expressed his enthusiasm stating, “I’m really grateful and proud that these brands are partnering with us to kick off fashion in the metaverse,” the Instagram’s director of fashion partnership at Meta Eva Chen also added that “Fashion is ultimately a form of art and self-expression while also expressing her excitement at what this partnership could bring.

The Avatar Store will sell a variety of accessories that will have a price range from $2.99 to $8.99. It will also include over 100 free outfits for the avatars as well, and paid outfits can be purchased for both Android and iOS devices, using in-app purchase.

Featured image source: Vogue Business

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