The Metaverse Fashion Foundation is experiencing substantial growth, with the crypto market capitalization surpassing the $2 trillion mark.

The entire industry of decentralized currencies is exceptionally young and volatile, originating in January 2009 with the launch of the first cryptocurrency, Bitcoin. Comparing cryptocurrency market capitalization is often done in terms of the value against the total amount of the U.S. dollar or any other monetary mass, approximately $30 trillion as of today. However, this comparison may not be entirely accurate, as the dollar consistently loses value each year and is essentially backed by the challenging-to-perceive volume of the U.S. government debt, plus the debts of American households for homes, cars, and credit cards.

Equating cryptocurrency market capitalization with the capitalization of corporate securities is also not entirely accurate. The value of these securities is directly tied to the same printed dollars that have nowhere else to go after being distributed by the government, despite declarations of extraordinary breakthroughs and new horizons. Technological progress undoubtedly exists, but not necessarily in the proportions in which the shares of technology giants are growing.

A more interesting and novel comparison would be to examine the growth dynamics of cryptocurrencies against the growth dynamics of shares in fashion companies, brands, and conglomerates. To our knowledge, no one has conducted a comprehensive analysis and report on the total value of these shares, but we assume that it is unlikely to exceed $1 trillion. This, in itself, is the subject of further study.

Interestingly, the sales volume in the fashion market still exceeds the revenue volume in information technology. Therefore, the most significant distinction lies here: fashion is more about revenue, while IT is more about capitalization. IT is competing for real customers, while fashion is vying for capital attraction.

The most paradoxical aspect here is that, unlike the fashion market, which suffers from overproduction (problems arising from this in terms of sustainability require separate consideration) and daily sales challenges, the crypto industry has nearly $2 trillion in market capitalization with almost no goods for purchase and application. This is where a vast market opens up, and all investments and the most advanced technologies will sooner or later be directed.

The current immature state of the fashion metaverse represents a phase of formation, experiments, trials, and errors. Many startups, projects, and investors are still operating based on the inertia of the helicopter money era of 2020-2022 and have not yet adjusted to the actual market conditions. However, the past year has cleansed much, leading to revitalization, and 2024 is poised to be a year of a new stage in the development of the Metaverse. This week the Metaverse Fashion Council will announce a series of revolutionary initiatives that bring together crypto, web3, metaverses, and AI in this exciting journey.