Blake Lively transforms at the Met Gala in architecture-inspired Versace gown

Blake Lively paid tribute to New York City architecture in a shimmering gown that dramatically transformed as she walked the Met Gala red carpet on Monday night.

Lively and husband Ryan Reynolds are co-hosts of the event, and while Reynolds wore a more classic tuxedo by Ralph Lauren for the theme "Gilded Glamour and White Tie," Lively stunned in a custom Versace dress inspired by Art Deco design and the details of some of New York's most famous landmarks.

The evening's dress code was inspired by the Gilded Age, the 30-year period at the end of the 19th-century that saw skyrocketing wealth for industrialist families in the US and over-the-top fashion for New York City's upper crust.

When Lively first arrived, the glittering, beaded Versace dress was wrapped by an oversized coppery satin bow. But as she ascended the stairs to the entrance of the Metropolitan Museum of Art, her bow was released to reveal the rest of the sweeping ensemble: A long skirt in an aged copper tone, paying tribute to the patina of the Statue of Liberty.

"I've patinated," Lively told LaLa Anthony during Vogue's live stream. "This dress is an homage to New York City and so many of the classic, iconic buildings." She showed off some of the dress's subtle references: "This is detailing from the Empire State Building, some of the draping from the Statue of Liberty...(and) the constellation from Grand Central Station."

Tiaras have shown to be the accessory of the night, and Lively was one of many who sported the accessory. Hers was an elegant band featuring seven spikes, another reference to Lady Liberty. Symbolizing the seven continents, the actor explained they represent "inclusivity, welcomeness, and freedom." She also requested from jewelry designer Lorraine Schwartz to feature 25 stones for the 25 windows of the iconic statues.

"'Who's actually going to be counting the stones?'" she recalled Schwartz asking her. "'Me, I'm a Virgo,'" she replied with a laugh.

"This year was especially nervewracking being one of the hosts," she told Anthony. "I thought a neat perspective on the theme would be looking at the city that I love so much and the architecture, rather than just the fashion."

~ Via CNN