Designed "to allow fashion enthusiasts from around the world to share and express their unique creative visions without real world inhibitions", the project is sure to keep us busy in quarantine.
This year's starry gathering was cancelled as a consequence of the global Coronavirus pandemic.
In early March, chair of the annual gala, Anna Wintour, broke the news.
"One day that will not arrive on schedule will be the opening of the Costume Institute's exhibition, 'About Time'," she said.
"Due to the unavoidable and responsible decision by the Metropolitan Museum to close its doors, 'About Time', and the opening night gala, will be postponed to a later date."
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But the change in events now means that you don't need A-list status to bag a coveted ticket to this year's ceremony with the forthcoming competition sure to keep us busy in isolation.
You don't even need to pop to the shops to complete your (hopefully) winning looks, with contestants encouraged to "practice social distancing & sustainability with these challenges by using clothes you already own".
