In spite of the economic downturn, brands are now refocusing on the metaverse

The World Economic Forum, held in Davos this week, showcased some of today’s most influential industry leaders.

Among them was Gmoney, a collector and entrepreneur in the non-fungible token (NFT) space, whose luxury lifestyle platform 9dcc was honored as the “Phygital Brand of the Year.” This recognition is a significant milestone for the acceptance of phygital fashion as a viable market, with innovators like Gmoney driving its growth.

In other Web3 news this week, MCM is preparing to enter the metaverse with the debut of its new virtual retail destination. Meanwhile, tech supporter Tommy Hilfiger has introduced a new mobile metaverse game aimed at expanding fashion through immersive, social experiences.