Serotonin CEO: Luxury brands can make the metaverse ‘beautiful and complete’

The Metaverse needs to be “rich, rich and beautiful,” says Serontin CEO Amanda Cassett — and luxury brands are well-placed to do just that.

In a panel discussion at the Paris Decrypt and Rug Radio R HAUS event, Cassette said that the “parents” of the Web3 industry are technology and finance. “What got us here won't get us there,” she said, referring to Web3's predecessors, who “made our luxury and fashion industry beautiful.”

“It doesn't look good, it's not sensory rich, it's not lush and textured,” she says, because the Meta Metaverse hasn't caught on yet.

In the year After naming itself to reflect its strong desire to build Metaverse by the end of 2021, the Silicon Valley company saw a warm welcome to the offering. In the year In 2023, it begins to turn to artificial intelligence and augmented reality.

“What I'm most excited about is seeing people interested in the intersection of fashion, luxury and the Web3 come in and create experiences that are not just digital, but rich and fulfilling and beautiful,” Cassette added.

Web3 also provides an opportunity for luxury brands to create deeper relationships with consumers through crypto wallet analytics, Absolute Labs CEO Samir Addamin said. “You look at their purchasing power, you look at their portfolios, you get all that,” he says, after a brand gets to know a customer's wallet. “And then you assess the reachable market.”

According to Morgan Evans, manager of gaming and web3 at Tommy Hilfiger, wallets allow fashion brands to track their interactions with consumers “whether it's at events or literally with physical products.” Through those interactions, the brands “can reach our true and truly loyal fans and we can deliver to them.” Here's the plan: How do we make them value it? How do we show their time with the brand? More fun?”

Cassette highlighted the intersection of digital luxury fashion with the real world – pointing to her own NFC chip-enabled jacket as an example.

“Tap your phone to my wrist, you'll see the name of the piece and where to find it,” she said. She added that people are bringing the online world into the physical world. “They're looking at this in a beautiful way; we're seeing a video game-like fashion,” she said, adding that virtual reality technologies like Apple Vision Pro “allow both the gaming perspective and the aesthetic of reality to play. Attitude.”

Pëllumb Gurra, the lead designer of Rolls-Royce, pondered the question of how digital luxury goods can achieve the patina that distinguishes real-world products. “Physical luxury goods are given their charm and beauty largely thanks to the quality of the materials and their ability to develop a patina.”

He argued that NFTs and blockchain technology could provide a means to allow digital objects to find that history in the scale, meaning that they “age gracefully with the customer and the customer then passes it on to the next generation.”

Edited by Stacy Elliott.