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The Met Gala, formally called the Costume Institute Gala and also known as the Met Ball, is an annual fundraising gala for the benefit of the Metropolitan Museum of Art's Costume Institute in New York City. It marks the opening of the Costume Institute's annual fashion exhibit. Each year's event celebrates the theme of that year's Costume Institute exhibition, and the exhibition sets the tone for the formal dress of the night, since guests are expected to choose their fashion to match the theme of the exhibit.