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IP Rights In the Metaverse
The metaverse, an immersive virtual experience building on the Internet and the physical world, has become a prominent force in branding and marketing for companies struggling to keep up in an ever so globalized economy. Fashion brands, and particularly luxury retail houses, are capitalizing on the popularity of virtual world games among younger generations by collaborating with gaming companies like Roblox and Fortnite in producing lines of virtual fashion goods.
Last May, Gucci hosted the Gucci Garden Experience on Roblox allowing users to purchase virtual Gucci items for their personal avatars to wear in the virtual world. Balenciaga also teamed up with Fortnite to create a line of in-game virtual clothing that also corresponded to a real world physical collection. Brands like Nike and Louis Vuitton have also followed the virtual fashionwear trend. For many of these brands, the metaverse presents an opportunity to attract new consumers and market and build beyond the constraints of physical space.
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