Meta and TikTok are competing for the attention span of younger users, while they also compete for fashion as advertisers. The Metaverse is widely regarded as the next stage of the web, and expected to be as influential as websites and social media for fashion, especially because of the opportunity to sell digital items for avatars. Already, leading brands such as Gucci and Ralph Lauren are signing on to metaverse experiences on platforms such as Roblox, Zepeto and Decentraland, and Morgan Stanley predicts social gaming could add up to $20 billion to luxury’s total addressable market. Virtual worlds and virtual commerce also mean the opportunity for virtual ads, informed by behavioural data that far surpasses what Instagram or Facebook could measure. . . .
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