METAVERSE FASHION COUNCIL

📰 'QUEER FASHION' IN PARIS: FRENCH FASHION DESIGNERS BREAK WITH OLYMPIC TRADITION | KEY TAKEAWAYS 07.30.2024 💥 Daily news and stories covering everything from the Fashion System, Investment, and AI to WEB3 and Crypto that truly matter in Metaverse Fashion. https://lnkd.in/dYkG_Saw #web3 #investment #fashion #metaverse #ai

SILICON VALLEY’S TRILLION-DOLLAR LEAP OF FAITH Matteo Wong for The Atlantic Key Takeaways: 🦄 Tech companies like to make two grand pronouncements about the future of artificial intelligence. First, the technology is going to usher in a revolution akin to the advent of fire, nuclear weapons, and the internet. And second, it is going to cost almost unfathomable sums of money. 💰 Silicon Valley has already triggered tens or even hundreds of billions of dollars of spending on AI, and companies only want to spend more. Their reasoning is straightforward: These companies have decided that the best way to make generative AI better is to build bigger AI models. And that is really, really expensive, requiring resources on the scale of moon missions and the interstate-highway system to fund the data centers and related infrastructure that generative AI depends on. For a product as important as fire, they say, any spending is worth it. Sam Altman, the CEO of OpenAI, has described his firm as “the most capital-intensive startup in Silicon Valley history.” Dario Amodei the CEO of the rival start-up Anthropic, has predicted that a single AI model (such as, say, GPT-6) could cost $100 billion to train by 2027. The global data-center buildup over the next few years could require trillions of dollars from tech companies, utilities, and other industries, according to a July report from Moody’s Ratings. 📉 Now a number of voices in the finance world are beginning to ask whether all of this investment can pay off. OpenAI, for its part, may lose up to $5 billion this year, almost 10 times more than what the company lost in 2022, according to The Information. Over the past few weeks, analysts and investors at some of the world’s most influential financial institutions—including Goldman Sachs, Sequoia Capital, Moody’s, and Barclays—have issued reports that raise doubts about whether the enormous investments in generative AI will be profitable.  📢 Amid the hype, it’s important to remember that this future is not guaranteed. Many of the productivity gains expected from AI could be both greatly overestimated and very premature, Daron Acemoglu, an economist at MIT, has found. AI products’ key flaws, such as a tendency to invent false information, could make them unusable, or deployable only under strict human oversight, in certain settings—courts, hospitals, government agencies, schools. A lot of human labor is manual, which software isn’t close to replacing. Whether scaling up AI models will continue to yield significantly better results is highly contested. LEARN MORE: https://lnkd.in/eMuzjZcy #web #investment #fashion #metaverse #ai

APPLE INTELLIGENCE AI FEATURES WILL WAIT FOR IOS 18.1 Emma Roth for The Verge Key Takeaways: ⏱ Apple’s new AI features for the iPhone may not arrive with the initial rollout of iOS 18 and the expected launch of the iPhone 16 in September, according to a report from Bloomberg. Instead, the company reportedly plans on launching Apple Intelligence with iOS 18.1 in October as it works to get the rollout right. 🦄 Apple took the wraps off its first AI features during its Worldwide Developers Conference in June, showing off a new and improved Siri, AI-powered image generation, and an integration with ChatGPT. These features may not be available with a new iPhone 16 purchased at launch, but Apple could roll out the update later to new devices in store with its in-the-box updating machine called Presto. 📱 While Apple doesn’t usually launch the betas for its follow-up software updates ahead of the public release of the initial version, Bloomberg reports that some of these AI features will still arrive with the launch of the iOS 18.1 and iPad 18.1 developer betas as soon as this week. ℹ The early rollout could allow developers to test Apple’s AI features and spot bugs before they arrive for everyone and stretch across other platforms like the Mac, Apple Watch, and Apple TV.However, not all of the AI features Apple previewed during WWDC will be available within 18.1. We may have to wait until the spring of 2025 to see a Siri that can perform actions within apps and gain onscreen awareness. LEARN MORE: https://lnkd.in/geJy7iTV #web3 #investment #fashion #metaverse #ai

SILICON VALLEY’S TRILLION-DOLLAR LEAP OF FAITH Matteo Wong for The Atlantic Key Takeaways: 🦄 Tech companies like to make two grand pronouncements about the future of artificial intelligence. First, the technology is going to usher in a revolution akin to the advent of fire, nuclear weapons, and the internet. And second, it is going to cost almost unfathomable sums of money. 💰 Silicon Valley has already triggered tens or even hundreds of billions of dollars of spending on AI, and companies only want to spend more. Their reasoning is straightforward: These companies have decided that the best way to make generative AI better is to build bigger AI models. And that is really, really expensive, requiring resources on the scale of moon missions and the interstate-highway system to fund the data centers and related infrastructure that generative AI depends on. For a product as important as fire, they say, any spending is worth it. Sam Altman, the CEO of OpenAI, has described his firm as “the most capital-intensive startup in Silicon Valley history.” Dario Amodei the CEO of the rival start-up Anthropic, has predicted that a single AI model (such as, say, GPT-6) could cost $100 billion to train by 2027. The global data-center buildup over the next few years could require trillions of dollars from tech companies, utilities, and other industries, according to a July report from Moody’s Ratings. 📉 Now a number of voices in the finance world are beginning to ask whether all of this investment can pay off. OpenAI, for its part, may lose up to $5 billion this year, almost 10 times more than what the company lost in 2022, according to The Information. Over the past few weeks, analysts and investors at some of the world’s most influential financial institutions—including Goldman Sachs, Sequoia Capital, Moody’s, and Barclays—have issued reports that raise doubts about whether the enormous investments in generative AI will be profitable.  📢 Amid the hype, it’s important to remember that this future is not guaranteed. Many of the productivity gains expected from AI could be both greatly overestimated and very premature, Daron Acemoglu, an economist at MIT, has found. AI products’ key flaws, such as a tendency to invent false information, could make them unusable, or deployable only under strict human oversight, in certain settings—courts, hospitals, government agencies, schools. A lot of human labor is manual, which software isn’t close to replacing. Whether scaling up AI models will continue to yield significantly better results is highly contested. LEARN MORE: https://lnkd.in/eMuzjZcy #web #investment #fashion #metaverse #ai

'QUEER FASHION' IN PARIS: FRENCH FASHION DESIGNERS BREAK WITH OLYMPIC TRADITION FashionUnited Key Takeaways: 👾 The opening ceremony of the Olympic Games in Paris demonstrated courage in terms of fashion. And it was not just designs from the houses of the luxury group and official Olympic partner LVMH were in the spotlight, but also young talents. 🏇 With the selection of costumes and designers, those responsible for artistic direction and costumes, Thomas Jolly and Daphné Bürki, made a statement. Thanks to their efforts, the unconventional designs of the French designers Jeanne Friot, Charles de Vilmorin, Kevin Germanier, Alphonse Maitrepierre, Weinsanto and Gilles Asquin were shown during the ceremony last Friday in the French capital. The enthusiasm for this queer event, which stood for values such as inclusion, love and freedom, was felt both in the stands and in the bar Chez Mylène on the banks of the Seine at the Bastille, where a "Drag Race Party" is regularly held. 👘 Prominent names from the French fashion scene, but not necessarily known to a wider audience, took part in the fashion show: Designer Kevin Germanier is known for his penchant for drag queens. Parisian fashion designer Victor Weinsanto showed a pink Alsatian headdress made of printed organza, inspired by Kelsh fabrics - linen, cotton or mixed fabrics made in Alsace - and worn by model Ildjima aka Queen Toïdé. Other designers who presented their work included Alphonse Maitre Pierre and Gilles Asquin, who has designed numerous looks for the TV show "Drag Race France". The event was accompanied by music from DJ and LGBT icon Barbara Butch. 👑 The sequence with dancers on the Seine, sitting on stilts and appearing to float in the air, was created by French designer Charles de Vilmorin, known for his colorful prints. LEARN MORE: https://lnkd.in/e62uhRU4 #web3 #ai #metaverse #fashion #investment

WHY RETAILERS SHOULD STOP WORRYING ABOUT THE GEN-Z VERSUS MILLENNIAL DIVIDE The Business of Fashion Key Takeaways: 🦄 According to the memes, Millennials cannot resist stubbornly defending their no-show socks against an onslaught of mockery from Gen-Z, who prefer longer socks. But at the fashion-forward retailer, employees of both generations agreed that socks that hit the ankle or higher are indeed superior. 🕶 As Gen-Zers hit their mid-20s, the style gap between that generation and their slightly older peers is rapidly widening. The battle over skinny jeans — a Millennial mainstay — is largely over, with baggy fits now the norm. But fighting still rages over high-waisted bottoms versus low waist, a Y2K trend embraced mostly by those too young to have watched Paris Hilton on TV. Plenty of Millennials are still holding onto floral prints, ankle boots and contouring makeup, eliciting gentle ridicule from their younger siblings and colleagues. 📈 Given the undeniable spending prowess of Millennials today, Millennial preferences define the most popular styles on the market right now. But Gen-Z is well on its way to shaping the future. For instance, while Millennial-approved high-waist jeans continue to be the most popular rise among retailers, accounting for 29 percent of all styles, the selection of low-rise jeans is increasing 30 percent year-on-year while the number of new high-rise options hitting the market has actually dipped 1 percent in the same period, according to market analysis data from EDITED, a retail intelligence firm. 💥 The matter of age and correlating behaviour may be more relevant to how a consumer shops rather than what they buy. For instance, beauty brand Glossier found its first set of customers a decade ago in coming-of-age Millennials who embraced the direct-to-consumer model that was disrupting the retail landscape at that time. Today, its younger Gen Z and Gen Alpha shoppers are discovering the brand through TikTok and Sephora, which began stocking Glossier last year. LEARN MORE: https://lnkd.in/eEXhW4x5 #web3 #ai #investment #fashion #metaverse

DIOR, LOUIS VUITTON, AND YOUNG CREATORS TAKE CENTRE STAGE AT OLYMPICS OPENING CEREMONY The Business of Fashion Key Takeaways: 💥 After years of preparation including an unprecedented security perimeter that deadlocked Paris’ city centre, hearts sank across the city Friday morning: It was raining. With so many things that could go wrong at the Paris 2024 Games’ ambitious opening ceremony on the Seine River, rain had not been top of mind. But the history-making show went on despite intermittent downpours — setting a new high water mark for Olympics openers with an immersive celebration of Paris landmarks and star-studded performances. The spectacle directed by Thomas Jolly romped through French history and culture with a delicate mix of sincere hommage and cheeky deconstruction. 🎤 Nakamura sang a medley of her own hits and Charles Aznavour’s “For Me Formidable” in a body-sculpting, one-shouldered Dior mini-dress made of gold feathers, while mezzo-soprano Saint-Cirel dressed as Marianne in a white gown that fused with the gigantic French flag she was carrying. 👚 Louis Vuitton, the world’s biggest luxury brand, more or less got its own number early in the show, as dancers whirled around on the Pont Neuf and banks of the Seine pushing its signature monogrammed steamer trunks on trolleys. The number culminated in a poetic dance by Guillaume Diop, Paris Opera Ballet’s first-ever black danseur étoile, who wore Louis Vuitton by Pharell Williams. 👑 Several young Paris labels contributed designs for the spectacle, whose costumes were coordinated by Daphné Bürki. In one number, dancers hoisted up on poles wore costumes by Charles de Vilmorin. 🕺 Paris Opera Ballet’s Germain Louvet pirouetted and leaped down the runway through puddles, flanked by figures from Paris’ queer culture including Drag Race host Nicky Doll and the DJ and activist Barbara Butch. LEARN MORE: https://lnkd.in/dJ3D5DgS #web3 #investmetn #fashion #metaverse #ai

AR TO AI: HOW FASHION'S INDIE DESIGNERS ARE ADOPTING EMERGING TECH Bethanie Ryder for Jing Daily Key Takeaways: 👾 Off the back of Web3’s hot streak last week, which saw Coach enter the gaming realm, Balenciaga embrace the Vision Pro, and Brunello Cucinelli tap artificial intelligence, things are looking up for digital fashion. This week, however, it’s the indie players that are back in the spotlight, with LA-based lifestyle label and influencer favorite Cult Gaia launching a new Web3 community membership for its followers. 📺 Syky is also next in line to join the Vision Pro bandwagon with an experience poised to bring fledgling and independent designers into the homes of tech-savvy fashion fans. With the headset gaining traction during a period of recalibration for Web3, can the gadget help Syky scale up its audience? 🏇  Ralph Lauren’s popular subsidiary brand Polo Ralph Lauren, has teamed up with AR-leader Snap and creative digital studio Beyond.Studio on a new interactive filter based on the label’s patches. An accessory that harks back to Ralph Lauren’s early days, the new AR filter brings to life the Americana-themed emblems. 👗 Digital fashion house and incubator Syky has released a new app for the Apple Vision Pro headset. Via the experience, users will be able explore new garments and collections from Syky’s growing roster of designers. The first creative to debut on the app is Japanese brand Anrealage, the brainchild of designer Kunihiko Morinaga. Drawing inspiration from the label’s SS21 “Home” collection and a gown worn by Beyoncé on her Renaissance tour, the experience includes a bespoke digital version of its Pyramid dress, which can be explored up-close in 3D view. Audiences can also watch a number of short films featuring the designer and his work by clicking on surrounding floating orbs. LEARN MORE: https://lnkd.in/dteegJcu #web3 #investment #fashion #metaverse #ai

HOW SMALL DESIGNERS SCORED BIG AT THE 2024 PARIS OLYMPICS OPENING CEREMONY WWD Key Takeaways: 👾 As premium partner of the 2024 Paris Olympic Games, luxury conglomerate LVMH Moët Hennessy Louis Vuitton was omnipresent at the opening ceremony, but the globally televised event provided equal exposure to independent French fashion brands operating on shoestring budgets. 🦄 Daphné Burki, the styling and costumes director of the opening ceremony, is close to the new generation of Paris-based designers, having walked the runway for the likes of Victor Weinsanto and Jeanne Friot. The TV presenter was also a juror on the first three seasons of “Drag Race France.”   ♨ As part of the core team of creatives working with Thomas Jolly, artistic director of the opening ceremony, she made sure small brands, many promoting a gender-fluid aesthetic, were showcased at key moments of the ceremony watched by an estimated 1.5 billion people worldwide. 🎩 In some of the evening’s most memorable scenes, a mysterious figure wearing a silver cowl and buckled thigh-high boots rode a mechanical horse across the Seine, before delivering the Olympic flag to the official podium located opposite the Eiffel Tower.  LEARN MORE: https://lnkd.in/dQPaRNKm #web3 #investment #fashion #metaverse #ai

SMALLER BRANDS SEIZE THE MOMENT AND AI-POWERED SURVEILLANCE PRICING GETS SCRUTINISED The Interline Key Takeaways: 📉 This week, French luxury giant LVMH reported a second consecutive quarterly revenue decline, down 1% year-on-year, indicating that even the most popular, digitally-savvy brands are struggling to counteract luxury’s demand slump. LVMH has been an industry bellwether with its portfolio of over 75 companies – covering champagne, watches and handbags. Other luxury peers Hermès, and Gucci have also recently taken a hit after years of growth, and just last week Burberry and Hugo Boss (not directly a luxury brand, but still) both issued profit warnings.  🦄 Though luxury product demand may well recover in the coming quarters or full years, the current dip in popularity could offer a prime opportunity for smaller brands to capitalise on the potential for trickle-down spending. Some have already recognised this and have made a start on seizing the moment by pulling all the levers available to them to extend their reach and expand the surface across which consumers can reach them. This August, premium knitwear brand Hades and custom sneaker company Canvvs are leading the charge by opening new stores just off London’s Oxford Street. The opportunity is part of Westminster City Council’s Meanwhile On: Oxford Street project, launched last year, aimed at providing prominent retail spaces to new brands at lower rents, and revitalising the famous London high street at a time when foot traffic to the capital (and to many other major UK and EU cities) remains deeply changed by the shifting balance of in-person and remote work. 👮♂️ This week, the US Federal Trade Commission (FTC) initiated an investigation into AI-driven “surveillance service pricing” – a practice that might ring a bell for anyone who has used an incognito browser to dodge inflated prices, or anyone who’s developed a sixth sense for when Uber or Lyft will charge ‘surge prices’. The FTC describes surveillance pricing as the practice of using AI, and other technologies – especially when combined with personal data like location, demographics, credit information, device usage, and browsing or shopping history – to create individual profiles and set customised prices for products or services that draw on other variables beyond the usual push and pull of supply and demand. LEARN MORE: https://lnkd.in/dqAD3zQt #web3 #investment #metaverse #ai #fashion