“My mission is to make the Metaverse accessible to normal people,” said Philipp Plein, CEO, and showman, a maverick behind the label. “The Metaverse will become truly successful when my mother goes there.”

It’s a great soundbite. He’s a pro at soundbites. However, he’s also right on the price.

As per Morgan Stanley MS -1.2%, Web 3.0 revenue opportunities for the luxury and fashion industries could reach $5 billion in 2030, with analysts at Morgan Stanley predicting that social gaming and NFTs were the most promising areas for expansion.

Plein, who recollected the birth of internet technology and observed its growth over the past 20 years, believes that its Metaverse successor, an advancement that accommodates spatial experiences, will grow much faster thanks to advances in technology.

Philipp Plein Decentraland Metaverse Fashion Week digital wearable ‘Lil Monster shirt and bucket … [+]

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BACK TO SCHOOL WITH THE WEB 3.0 GENIUS BAR

To tap into this substantial untapped market, according to research conducted by Finder.com that only 2.8 percent of American internet users own an NFT. He’s beginning an educational drive to make the metaverse more accessible to everyday users.

As with the majority of us, the majority of our customers don’t have cryptocurrency wallets, so when he introduced NFTs, the company sold them on its website that allows customers to make payments using debit or credit card, ApplePay, along with crypto.

He’s recently leased a store on London’s Old Bond Street — the townhouse that Michael Kors once owned –, but as he waits for the necessary permits to open and open the doors officially, he’ll be launching an online store this spring.

Philipp Plein digital wearable for Decentraland Metaverse Fashion Week, oversize logo coat, 

“When you come in we’ll assist you to make a Metamask wallet; we want to be a kind of information center for people who want to get into this world and crypto is a part of it because one is linked to the other,” said the official.

The first floor is an exclusive museum with screens that will display the brand’s Crypto King$ NFT artworks by the artist Antoni Tudisco and physical sculptures collected by collectors as utilities “because, for the moment, you can mostly only buy NFTs online.”

In the last year, he started using cryptocurrency to offer a payment method for physical products sold online and in stores. He’s open about his initial purpose. “I did it because I wanted to be cool and create hype,” he stated, “but it’s been a huge success; we now take $100,000 in crypto every day.” Customers can pay using 20 different cryptocurrencies with updated rates every 10 minutes as the market changes.

LET’S GET PHYGITAL

His method of connecting NFTs with physical parts has yielded results. He has created a game using Tudisco’s NFT “Lil Monsters Gang Crypto King$ characters. The players who collected all six characters could trade them in to get a rarer 3D version, and six of them got an actual sculpture worth $20,000. He created the sculptures in 80 pieces, and all are now in the hands of a private collector.

his Milan event in January, Plein was also selling NFTs, which can be redeemed in five months to purchase his new Plein Sport shoe. In the event of a presale for the sneaker, the brand Plein made over $1 million within just a few days, which he claims could not have been achieved without the NTF being included on the shoe.

At Christmas, he’ll offer NFTs at the store that includes physical versions of the frames “so people can carry them home and put them under the Christmas tree and open a box because people still want to touch something and they want to feel something.”

An avatar model on the Philipp Plein Robotron runway at Metaverse Fashion Week in Decentraland.

COURTESY

Another strategy is up-selling by offering digital wearables to customers who purchase physical products. “You’ll go to the cash desk, and while you’re paying, the sales assistant will encourage you to buy the same cap for your avatar in the Metaverse,” said the man. Stated.

Alongside other designers, including Dundas, Plein presented his first complete line of digital Decentraland specific wearables during an event that took place during the most recent Metaverse Fashion Week on fundamental properties he’s purchased in the virtual space. There were some new looks on the tongue of a specially designed digital Robotron

His most popular product in the Decentraland Marketplace was a costly gold puffer jacket with a UV backpack floating on the snowboard since accessories are the most important thing.

Philipp Plein gold puffer digital wearable with surfing monster accessory at Decentraland Metaverse