Metaverse Fashion Show

The Lempert Report
April 15, 2022

Phil: Let's switch to a much more fun topic, the metaverse and last week in New York there was a event called the decentral land event. It was the business of fashion. It was a fashion show that took place in the metaverse there's this great story, uh, written by Leia Dolan at CNN. Um, she was there as, as an avatar and you know, what they, what they found and they reported is that the younger generation already spent an average of 7.3 hours per week in virtual worlds. Something I did not know you probably know that from Eli mm-hmm and all, so they had do, and Gabana there, they have Philip plain, they had fireside chats with Tommy Hilfiger, Grimes was there. I saw her whole thing which looked really cool, of course, you know, having Elon Musk as, as your boyfriend helps when it comes to technology.

Phil: But you know, when, when we think about the metaverse and we think about NFTs, we very often forget the cost of doing these kinds of things. And it was reported that, um, printed bucket hats and puffer jackets, and you again, had to have an account. So you could buy these things a glowing wing tuxedo from a Feliplane ranged from $1,670 to $2,740 a piece. Now, again, this is not a real tuxedo. This is a tuxedo for your avatar. And, you know, as, as I think everybody knows, we are really focused on the metaverse as a way, as we're seeing all these food companies create these worlds where they can sell real food, or they can sell swag or Slim Jim was selling some stuff we reported on last week. Um, are we, are we moving into a scary world here?

Sally: Well, I think first of all, that we've gotta understand, you know, for someone like me, who is, I am a, I am a generation Z and my son, I'm sorry, I'm gen X and my son is gen Z and my daughter is gen alpha. So there's a really big, a difference in what this whole virtual world is for me. And I love it that this writer in this article was talking about how, you know, there was like all kinds of tech. She experienced all kinds of technical difficulties, along with all the other people, trying to operate it as well. And it sort of reminds me of like, when my dad worked for IBM and brought home the first computer that our house ever had, and, you know, tried to dial us up to the internet. It was, it wasn't the experience at that.

Sally: The internet is for us now, but this is something that is headed that way for that younger generation. Now, whether or not they're going to be spending these huge amounts of money on in NFTs. I don't know, but it certainly is a place where they've already been, um, spending a lot of time. In fact, I think about the game, cuz they talked about gamers, how kids, uh, 81% of gen Z play video games. And there was, you know, a while ago, the game fortnight came out, which was a really, really big deal and started having these concerts that you could attend through the video game. The first one being Travis, Scott, I think, and it was huge. It drew millions and millions of, of, of kids to come and watch these concerts. So I think this is a really great example. This fashion week of this is just a start, but in, in years, in a few years to come, we're gonna see this really grow and hopefully, um, the food world will be a big part of it.

Phil: Yeah, I hope so. And, and also when we go back to what we were talking about before with labeling and so on, if done correctly, it offers our food world, a lot of transparency. A lot of convenience and hopefully, you know, I don't have to buy a, a special jacket to go shopping, you know, in, in a supermarket, in the metaverse.

Sally: If you wanna look cool, I guess yeah.

Phil: Guess, oh, well this is a black shirt