Will the virtual (Meta) fashion store work?

In 2021, Dressx become one of the first digital-only companies to open a store inside the Metajuku, shopping district in the Decentraland metaverse. Metajuku is a shopping district in Decentraland developed by Everyrealm. Inspired by Harajuku, a district in Tokyo known as the center of Japanese street fashion. It is a 16,000 sf (256 m2) project built with a pedestrian-friendly open space at its center. Retail stores line both sides of the open center atrium. The district is located at the coordinates 94, 21 in Decentraland. The development was designed by Austin-based architect Martin Guerra and developed by Everyrealm’s global team of 3D real estate and game developers. The Tribute Brand store was designed by Zagreb-based architecture firm BIRO.

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This year, virtual outfits designed by fashion brands Prada, Them Browne and Balenziaga will be available for purchase to start, said Zuckerberg, speaking in a live video stream with Instagram’s head of fashion.

“Basically it’s a clothing store for your Meta avatar. We already have a bunch of different free clothing … but we also wanted to create this marketplace,” Zuckerberg said. He also added that it is “really cool” to see the kind of work Meta is doing on the fashion front. Balenziaga CEO Cédric Charbit said in a statement, “Web3 and Meta are bringing unprecedented opportunities for Balenciaga, our audience and our products, opening up new territories for luxury.” The store will be available on Meta Platforms Inc, Facebook, Instagram and WhatsApp. The online store will be launched first in the US, Canada, Mexico and Thailand. It will initially be available for use on Facebook, Messenger service, as well as Instagram. Fashion brands would be priced between USD 2.99 and USD 8.99.

The question is, will the social (fashion) media market work, even just for your avatar for USD 2.99 and USD 8.99. Will the power of social networks help in this type of market?