In the WORLD’S FIRST Metaverse department store where shoppers purchase virtual designer gear

LUXURY comes to the Metaverse.

Users decorate their avatars with the best of fashion week after a high-end virtual store opens.

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Selfridges, a department store headquartered in London, announced that it would open the “first meta-department store in the history of #web3” in a tweet.

Top brands launched their Metaverse lines with Dolce & Gabbana, Tommy Hilfiger and others to promote avatar digital products.

The store is accessible to everyone, either in virtual reality or on a desktop, but in order to make purchases, users need a crypto wallet — a crypto wallet using the Ethereum currency, to be precise.

The host location for Selfridge’s Metaverse Store, Decentraland is a pioneer in the approximately $1 billion digital real estate market.

The structure users see in the Metaverse is modeled after the Selfridges Building in Birmingham, England, a $66 million structure owned by the brand.

Selfridges is laying the modernization on thick, with a library of the slickest NFTs covering the digital walls.

It’s a commendable demonstration of the customization of a department store established over 100 years ago that competes with tech giants like Google and Amazon.

Metaverse entrepreneurs have tremendous confidence in what VR has to offer consumers.

“When you go to Coachella, you care about what you wear. People are willing to invest money if they want to look stylish,” Andrew Kiguel, chairman of the Metaverse Group, told Vogue Business.

Sam Hamilton, creative director at Decentraland, sees more than expensive avatars in the burgeoning metaverse.

JournalTime reported that Hamilton feels that “the intersection of fashion and technology is creating a revolution that is completely blurring the lines between the physical and digital worlds.”

Some companies are taking it less seriously – Heineken has launched a Metaverse beer available for “consumption” in Decentraland as a soft smack on companies embarking on digital capitalism.

Financial technology experts are struggling to pinpoint the exact value of the metaverse — but the high-end estimate speaks of an $800 billion asset.