What Cobalt does
Cobalt is a metaverse-based e-commerce platform, which helps high-end brands to embrace digital environments and develop virtual shops within its marketplace, re-inventing online shopping for the digitally savvy generations.
The Current Landscape
The digital revolution is not only reshaping industries that already exist but also creating entirely new industries. One of such is the metaverse, a virtual space where people can interact together. Companies like Decentraland and Sandbox are leading the way in this field, but there is still a missing piece: a focus on customers and practical applications. Now, with Apple's Vision Pro technology redefining how we experience virtual reality, it seems like the perfect time for immersive e-commerce in the form of shopping.
Simultaneously, the digital fashion market is rising, with revered fashion houses scrambling to stake their claim and connect with younger audiences. For instance, Louis Vuitton creating custom skins for League of Legends, Gucci partnering up with Yuga Labs in a new metaverse project, Prada teaming up with Ubisoft, a leading game developer and Balenciaga unveiling their Summer 2021 collection in a video game format (Vogue).
The line between reality and virtuality is blurring. However, luxury fashion brands are doing more than just following a trend; they're paving the way for mass adoption. And in the epicenter of this digital disruption, there's a startup, Cobalt, merging the bridge between retailers and technology.
Company Birth Story
Cobalt originated from the success of an NFT collection called C-01, which featured fashionable avatars and quickly gathered a community of over 200K fashion enthusiasts, with frequent discussions about the applications of digital fashion. The existence of wearables was a fact, but how could traditional fashion houses leverage this technology?
One question led to another one: What spaces existed for fashion brands to engage with their digital customers? What innovative strategies can fashion brands employ to bridge the gap between physical and digital? Are there tools or technologies available for fashion brands to seamlessly integrate their online and offline shopping experiences? Eventually, the answers came alive in Cobalt.
Cobalt helps brands overcome their technological constraints such as the challenges of acquiring tech talent, limited understanding of emerging technologies, and a lack of business experience in the high-tech realm. This allows brands to focus on their core strength: fashion, while Cobalt handles the tech side of things.
With Millennials and Gen Zers projected to make up over 50% of luxury consumers by 2025 (Business of Fashion), the startup ensures that brands do not feel left behind in the race to digital market share while engaging with a new generation of consumers in an innovative, immersive fashion.
Success and Vision:
Cobalt is more than just an innovation; it's a testament to how technology can revolutionize even the most traditional industries. Embarking on this venture, the company has already started to onboard prestigious luxury brands.
The startup envisions a future where luxury fashion is not just a physical expression, but an immersive, digital experience—a future where the metaverse and e-commerce coalesce into a symbiotic union, setting a new norm for luxury shopping.
The metaverse isn't dead. It's evolving. And Cobalt, with its intuitive understanding of luxury and digital natives, is looking forward to leading the charge.
Check it out : https://cobalt.shop/
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