Don’t look now but New York-based fashion company Kate Spade has become the latest retail brand to enter the Metaverse. The brand, which is owned by Tapestry Inc (NYSE:TPR), has set up a virtual townhouse where customers can see its latest line of handbags in augmented reality. It is just the latest in a long line of Metaverse pop-ups and established storefronts from global retail brands.
Kate Spade follows in the footsteps of brands like Tommy Hilfiger which is owned by PVH Corp (NYSE:PVH), Nike (NYSE:NKE), and SFLMaven (OTC:SFLM). All three of these companies have set up shop in the Decentraland Metaverse, which is one of the world’s largest virtual spaces.
SFLMaven is an antique jewelry retailer that is going digital in Decentraland and is currently in the process of creating its first line of wearable NFTs. The company is also working on a technology that will allow players to see the value of the NFTs a particular avatar is wearing. Could Kate Spade follow suit with its own line of NFTs? As of now, it seems like the designer handbag maker is set on providing a virtual showroom to its customers as its first foray into the Web3 universe.
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