The term “meta” has roots in ancient Greece, where it meant “beyond,” “after,” or “behind.” While we still see these meanings in words like metaphysics or economy, the way we use “meta” today has evolved. In modern contexts, “meta” often refers to something self-referential or reflective. This shift in meaning has made “meta” a popular term across various fields like art, gaming, and fiction.

The Evolution of “Meta” in Language

The word “meta” has changed from its original Greek meaning. Now, it is commonly used in everyday language and specific fields. But what is it about this word that has allowed it to transcend time and become so versatile?

The Modern Use

In today’s context, “meta” is commonly understood as “X about X.” This implies that the phrase is indicative of something that discusses or scrutinizes itself.

Examples

Let’s look at some common uses:

These examples show how “meta” can be applied to different types of self-referencing. Whether it’s related to information, thoughts, or even humor. The idea is always about looking at something from an external perspective, or “above” the original subject.

The Rise of Meta as an Adjective

In contemporary periods, “meta” has evolved to stand as an adjective on its own. People use it to describe situations, art, or experiences that are self-reflective or self-referential. For example, you might hear someone say, “That’s so meta!” when referring to a work of fiction that breaks the fourth wall, acknowledging that it’s a piece of fiction.

Shapes the Art World

The concept of “meta” has found a unique place in the arts, where it allows creators to explore self-reference and self-reflection. In fact, the art world may be one of the fields where “meta” is most clearly expressed.

What Is Meta-Art?

Meta-art refers to works of art that comment on their own creation or the process of art itself. This could be a painting about painting, a book about writing, or a film that acknowledges it’s a film.

Examples

A good example is the movie Birdman. The story follows an actor who was once famous for playing a superhero and is now trying to revive his career in theater. What makes the film meta is that the actor in the film is played by a real actor, Michael Keaton. Who also once played a superhero (Batman) in real life. This creates a story that reflects not just the character’s journey but also the actor’s real-life experiences.

Moreover, the film employs methods that simulate a live theater performance, like long takes with minimal edits. These choices blur the line between theater and cinema.

Meta in Literature and Film

Meta is also a common theme in literature and film. Books that feature characters who are aware they’re in a story, or films that reference other films, often fall into this category. This self-awareness allows the audience to engage with the material in a different way, questioning not just the story but the storytelling process.

Classic Examples

In literature, a great example is Don Quixote by Miguel de Cervantes. In this novel, the characters discuss the first part of the book as if it were real, blurring the line between fiction and reality. Similarly, The Neverending Story features a character who becomes aware that he is part of a book.

Meta-Referencing in Fiction

Meta-referencing is when characters in a story behave as if they know they are part of a fictional narrative. This technique is widely used in metafiction. A genre of fiction that intentionally breaks the illusion of reality to highlight the fact that the piece is a constructed work of fiction.

How It Works

Meta-referencing typically involves breaking the fourth wall, where a character speaks directly to the audience. This is often done in a humorous way, but it can also be used for dramatic effect. For example, in the TV show Fleabag, the main character frequently turns to the camera and speaks directly to the audience, making them complicit in her thoughts and actions.

The Purpose

The goal of meta-referencing is to make the audience think about the nature of storytelling itself. By highlighting the artificial nature of a story, creators encourage the audience to reflect on the medium and how it shapes their understanding of reality.

Role in Gaming

The world of gaming has also embraced the concept of “meta,” although the term takes on a slightly different meaning in this context.

What Does Meta Mean in Gaming?

In gaming, “meta” often stands for “most effective tactics available.” Players use this term to describe strategies or techniques that are considered the best for winning a game. These tactics usually emerge after players have analyzed the game’s mechanics and determined the most efficient ways to achieve success.

The Concept of the Metagame

Beyond tactics, can also refer to the metagame. This involves using information or strategies that come from outside the game itself, such as player data, game updates, or even discussions on forums. In this sense, the metagame allows players to gain an advantage by thinking beyond the rules of the game.

Meta in Competitive Gaming

In competitive gaming, understanding the meta is crucial. Players who don’t keep up with the latest strategies often find themselves at a disadvantage. Games like League of Legends or Overwatch constantly evolve. The changes to new characters, abilities, or patches are introduced. Knowing the current information can mean the difference between victory and defeat.

Conclusion

The word “meta” has evolved from its Greek origins to become a term used in many different fields, from art and fiction to gaming. At its core, “meta” refers to self-reference and reflection, whether that means a film acknowledging its existence as a film, or a gaming strategy that thinks beyond the game’s immediate rules.

Luxury brands have found a new frontier in the digital world. The metaverse, a virtual reality space where users can interact in a computer-generated environment, is transforming how these brands engage with customers. With millions being made, it’s clear that the metaverse offers significant opportunities.

Why Luxury Brands Are Investing in the Metaverse

The appeal of the metaverse lies in its immersive experience. Luxury brands thrive on exclusivity, craftsmanship, and storytelling. In the metaverse, they can create virtual spaces that mirror this essence. From virtual boutiques to limited-edition NFTs (non-fungible tokens), brands are exploring ways to extend their influence.

Additionally, the younger generation, especially Gen Z and millennials, are spending more time online. This demographic values digital experiences and is willing to spend money on virtual goods. By meeting these consumers where they are, luxury brands are establishing a strong presence in a new marketplace.

The Role of NFTs in Luxury Fashion

One of the most profitable avenues for luxury brands in the metaverse has been the sale of NFTs. These unique digital assets offer a new way for consumers to own limited-edition items. For example, brands like Gucci and Louis Vuitton have launched exclusive digital wearables, which users can purchase for their avatars.

These NFTs not only enhance the user’s virtual identity but also allow brands to maintain their signature exclusivity. The scarcity of these items drives up demand, creating a lucrative market for brands.

Virtual Fashion Shows and Events

Luxury fashion has always been about creating experiences, and the metaverse offers a new way to host these experiences. Brands are now hosting virtual fashion shows and events where users can attend from anywhere in the world. These events are immersive and interactive, providing a unique opportunity for brands to showcase their collections to a global audience.

For example, Dolce & Gabbana launched an exclusive digital fashion collection in the metaverse. They paired it with a real-world fashion show, blending both digital and physical elements. This hybrid approach attracted high-profile buyers and further cemented their foothold in the digital space.

Virtual Real Estate: The New Luxury

Beyond fashion, luxury brands are also investing in virtual real estate. In the metaverse, users can purchase land, and brands are using this space to build virtual storefronts or host exclusive events. These spaces allow brands to engage directly with consumers, offering a level of personalization that’s difficult to achieve in traditional retail.

Sotheby’s, a world-renowned auction house, has already created a virtual gallery in Decentraland, a blockchain-based metaverse platform. This gallery mimics the real-world experience of walking through an art exhibition, allowing users to bid on digital artwork in real-time.

Opportunities for Growth

As the metaverse continues to evolve, so will the opportunities for luxury brands. This digital space is not limited by geography, allowing brands to reach a global audience without physical barriers. The ability to create exclusive, high-end experiences in the metaverse offers a significant advantage.

For consumers, the metaverse provides access to luxury goods and experiences they may not have been able to afford or attend in the physical world. Brands are capitalizing on this by offering tiered experiences that cater to different levels of exclusivity.

Challenges Ahead

Despite the potential, the metaverse comes with challenges. Luxury brands must navigate concerns about digital security, intellectual property, and the environmental impact of NFTs. Additionally, the metaverse is still in its early stages, and it’s unclear how trends will evolve over time.

Brands must also be cautious about maintaining their image. While expanding into the metaverse offers exciting opportunities, they must ensure that their virtual presence aligns with their core values of quality and exclusivity.

Conclusion

Luxury brands are making millions in the metaverse by tapping into digital innovation. Through NFTs, virtual events, and real estate, they are redefining what it means to be a luxury brand in the 21st century. With a growing consumer base and endless opportunities for expansion, the future of luxury in the metaverse looks promising. However, brands will need to adapt and innovate continuously to stay ahead in this evolving digital landscape.

Profitability New Complex Of Luxury Goods Challenges for Kering Amid Declining Demand. In the ever-volatile luxury market, profitability remains a critical concern, particularly as demand fluctuates. Kering, a prominent name in the luxury sector, reported a significant 50% decrease in net profits during the first half of 2024. This substantial decline underscores the difficulties luxury brands face in maintaining margins when demand wanes.

Profitability dominated the discussions during recent results calls, highlighting the importance of strategic adjustments to weather economic downturns. As the market evolves, luxury brands must navigate these challenges to sustain their financial health and market position.

EU’s Consultation on AI Act Guidelines: A Step Towards Trustworthy AI Luxury Goods

The European Union is making strides in regulating artificial intelligence through its AI Act, which aims to establish a risk-based framework for AI usage. The EU has initiated a consultation to refine the guidelines, particularly targeting companies like Anthropic, Google, Microsoft, and OpenAI that develop general-purpose AI models (GPAIs). This consultation represents a significant move towards creating “trustworthy” AI systems by offering developers clear directions on fulfilling their legal obligations.

Key Aspects of the Consultation:

1. Transparency and Copyright Provisions:
   • The first section of the consultation addresses transparency and copyright issues related to GPAIs, ensuring that AI models are developed and used ethically.
2. Systematic Risk Guidelines:
   • The second section examines guidelines for GPAIs with “systematic risk,” defined as models trained above a specific compute threshold. This aims to mitigate potential risks associated with highly complex AI models.
3. Codes of Practice:
   • The third section reviews and monitors the Codes of Practice for GPAIs, ensuring ongoing compliance and adaptation to emerging AI challenges.

New Complex Of Luxury Goods. The consultation also addresses concerns about the exclusion of civil society organizations from the drafting process, highlighting the need for inclusive and unbiased regulatory practices.

Legal Action Over NFTs: Artists Challenge SEC’s Authority

In a groundbreaking move, two artists, Jonathan Mann and Brian Frye, have filed a lawsuit against the US Securities and Exchange Commission (SEC) to determine whether the government has the authority to regulate NFTs. This case, currently being heard by the U.S. District Court for the Eastern District of Louisiana, seeks clarity on specific actions that might constitute violations of US securities laws regarding NFTs.

Key Issues in the Lawsuit: New Complex Of Luxury Goods

1. Registration Requirements:
   • The plaintiffs question whether artists must register their NFT artworks with the SEC before public sale, a requirement they argue could stifle creative expression.
2. Disclosure of Risks:
   • Another concern is whether artists need to inform consumers about the potential risks associated with purchasing NFTs, akin to traditional securities.

The plaintiffs draw a comparison between NFTs and tickets for Taylor Swift concerts. Arguing that regulating Swift’s tickets as securities would be absurd, thus highlighting the potential regulatory overreach by the SEC.

Emerging Luxury Consumers Post-COVID-19

The COVID-19 pandemic has reshaped consumer behavior across various sectors, including luxury goods. A study conducted by Mercedes Erra and Clément Boisseau aimed to identify the new wave of luxury consumers and their evolving relationship with luxury brands.

New Complex Of New Complex Of Luxury Goods, Key Findings:

1. Prosumers’ Influence:
   • Prosumers, proactive and foresighted consumers, play a crucial role in shaping future trends in luxury consumption. The study involved a sample of 1,800 individuals, including 20% prosumers, from Gen Z, Millennials, and Boomers who spent a minimum of €2,000 annually on luxury products.
2. Geographic Focus:
   • The study was conducted in nine top luxury markets. China, Japan, South Korea, Saudi Arabia, UAE, France, Germany, the US, and the UK. These countries represent significant markets for luxury brands like LVMH, Kering, Chanel, and Richemont.
3. Luxury Market Dynamics:
   • Despite the pandemic, the luxury market is expanding slightly as more affluent individuals emerge. Approximately 40% of luxury purchases are made by 5% of the population, highlighting the importance of targeting high-net-worth individuals.

Prada’s Miu Miu Defies Slow-Fashion Trends

Contrary to the trend of declining demand in the luxury sector. Prada’s Miu Miu line reported a remarkable 93% increase in retail sales in the first half of the year. This growth signifies a strong performance and consumer interest in the brand, defying the overall market slowdown.

Key Highlights:

1. Sales Growth:
   • Miu Miu’s retail sales nearly doubled year-over-year, showcasing the brand’s resilience and appeal amid challenging market conditions.
2. Overall Performance:
   • The Prada Group reported a 17% increase in net sales, reaching €2.55 billion. The group’s flagship Prada brand also saw a 6% increase in retail sales, reflecting a consistent expansion.

The management team of Prada will discuss these results in an upcoming teleconference, shedding light on their strategies and outlook for the future.

Conclusion:

The landscape of luxury goods, AI regulation, and digital art is dynamic and complex. From Kering’s profitability challenges and the EU’s AI regulatory efforts to legal battles over NFTs. And the evolving luxury consumer base, these developments highlight the need for adaptability and strategic foresight. As companies and artists navigate these changes, staying informed and responsive will be key to thriving in this ever-evolving environment.