Web3’s meta-commerce new product channels and business models hold the potential of at least doubling global fashion and beauty revenues over the next two decades.
Metaverse gaming and NFTs could constitute 10% of the Luxury Goods addressable market by 2030, which is a €50bn revenue opportunity and 25% uplift to the industry's profit pool.
In 2019, Fortnite (free-to-play business model) generated over
$3.7 billion in global revenues from digital apparel.
60% of Gen Z and 62% of Millennials believe that how they present themselves online is more important than how they present themselves in person
70% of the first interaction with luxury fashion brand before making a purchase was online.
In the US, people spend on average 65 min interacting IRL, and 2 hours interacting online.