Republic Realm, a metaverse real estate development and investment company, announced the grand opening of Metajuku, a shopping district in the Decentraland metaverse, with DRESSX becoming one of the first digital-only companies to open a store inside the district. In addition to the digital fashion outfits displayed in the store, there are 3 NFT artworks inspired by DRESSX collections dedicated to SpaceX launches and created by the digital artist Hanne Zaruma.
Metajuku is a 16,000 sf (256 m2) project built with a pedestrian-friendly open space at its center. The district is located at the coordinates 94, 21 in Decentraland (and I highly suggest that you check it out). Metajuku takes its roots in Harajuku, a district in Tokyo known as the center of Japanese street fashion.
“Real-world shopping malls are sitting half-empty as stores move more business online,” said Janine Yorio, co-head of Republic Real Estate, “meanwhile, elaborate virtual malls are being built in the metaverse, a nascent industry called ‘de-commerce.’”
DressX is the largest fashion store for digital-only collections from well-known brands and 3D designers. Through the use of digital clothing, users can simply layer fashion items on top of photos that they have taken in order to create whole new outfits. As a solution to the negative environmental footprint produced by the fashion industry, DressX was created by Daria Shapovalova and Natalia Modenova in July 2020 as the first-ever platform for digital garments that generate zero waste, carbon footprints, and chemicals during their production.
“We are very excited to create a virtual shopping experience accessible to anyone, anytime, and anywhere in the world. At DressX we see it as our mission to drive the development of the digital fashion industry and provide more opportunities for people to leverage available technologies, immersing themselves into the new virtual reality or connection in social media. The shopping mall built from the ground up in Decentraland and offering digital-only clothes from DressX cosmic collection is our joint next step aimed at merging the traditional fashion experience with the world of tech and innovation.”
Daria Shapovalova and Natalia Modenova, co-founders of DressX.
Today, nearly 9% of all fashion is acquired for content creation (Instagram posts, photoshoots and the like), and the fashion industry is considered to be one of the world’s largest polluters. Digital garment production provides the fashion for content with 97% less CO2 emissions. Moreover, virtual real estate does not have the same physical constraints as real-world real estate development, therefore the DRESSX virtual store was designed with zero-gravity features, in which digital clothing is displayed floating in zero-gravity balls in the air.
Although the digital wearables market is still in its infancy, glimmers of its potential are apparent from the video game industry where gamers have paid more than $40 million for wearables in the game Fortnite alone. Digital real estate prices have exploded in recent months. For example, parcel price in Decentraland has doubled over the past two months, from roughly $1800 per parcel to $7,000+ today, which represents a 4x return in just two months.
Republic Realm is a digital real estate NFT investment vehicle that acquires and develops digital real estate NFTs in decentralized, blockchain-based virtual worlds, including Decentraland, The Sandbox, Cryptovoxels, and other new emerging metaverses. Republic Realm is professionally managed by a cross-disciplinary investment team at Republic from both the cryptocurrency/tokenization and traditional real estate groups. Republic Realm is co-sponsored by Republic, the private investment technology platform with over 1 million worldwide users.
If you want to see the store for yourself, DRESSX digital collections are now available for purchase in DRESSX virtual flagship store at coordinates 94, 21 in Decentraland.
Or simply via this link.
And then follow DRESSX on socals and explore their world further: