At avatar fashion store, Meta to sell virtual clothes for real money
Reuters
Published Jun 17, 2022 03:52PM ET
Updated Jun 17, 2022 05:21PM ET
By Katie Paul
(Reuters) - Facebook (NASDAQ:META) owner Meta Platforms is launching a digital clothing store where users can purchase designer outfits for their avatars, Chief Executive Mark Zuckerberg said on Friday.
Virtual outfits designed by fashion brands Balenciaga, Prada (OTC:PRDSY) and Thom Browne will be available for purchase to start, said Zuckerberg, speaking in a live video stream with Instagram's head of fashion.
A Meta spokesperson said they would be priced between $2.99 and $8.99, much less than the real outfits by those designers. Prada's Matinee ostrich leather bag, for example, sells for $10,700.
Zuckerberg said he hoped to build the store out into an open marketplace where developers can create and sell a wide array of digital clothes.
Avatars have emerged as one way for Meta to link user identity across Facebook, Instagram and its other services, as it increasingly ties the platforms together and steers toward building an immersive "metaverse" of shared, interconnected digital worlds where users can gather.
Users of the company's virtual reality headsets set up avatars to play video games, take exercise classes and participate in conference calls, although initially the digital outfits will be available only on Facebook, Instagram and Messenger, Meta said in a statement.
The company redesigned its virtual reality avatars last year to be more expressive and three-dimensional, then made them available on Facebook, Instagram and Messenger starting in January.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.