Non-fungible tokens have most definitely taken over in the past year or so, leaving no stone unturned. The NFT industry has touched all industries in the world, from sneaker NFTsÂ to food NFTs, and more. So much so that we now also have NFT fashion and clothes!
So, the interest in non-fungible tokens reached an ultimate high near the end of the year 2021. A market high that was ultimately followed by a market crash as well. However, the NFT industry is still going strong with new (sometimes weird) projects releasing every day! Therefore, it was only a matter of time before luxury fashion houses joined the game. This includes brands like Dolce & Gabbana, Gucci, Louis Vuitton, and even Burberry. All of these have invested time going into the Metaverse with digital NFT fashion!
Now, you might be wondering, how the HELL can someone expect people to buy digital, virtual clothing? Well, with the proper NFT marketing and target audience, you can sell pretty much anything! And, from our experience in the NFT world, that is more than true! So, if you wanna learn about NFT fashion keep reading. BUT, if youâ€™d like to become a master of all the non-fungible space, join our FREE HUB BELOW!
What is NFT Fashion?
So, what does NFT Fashion mean to you as a crypto-enthusiast? Well, NFT fashion comes in a lot of different shapes. Obviously, the first thing would be virtual apparel that holders can interact with in virtual environments. For example, things your avatar can wear. This is a move that sneaker brands have already done by providing digital capsules of clothing â€“ like the Adidas NFT capsule.
However, the general purpose of NFT fashion goes beyond just playing dress-up with your avatar in the Metaverse. During the pandemic, everything in the world shut down. This, of course, includes stores, fashion shows, and fashion houses. And so, how could they find an outlet for generating revenue and continuing their work? With the Metaverse in place, digital fashion could easily go on through digital fashion shows! And ever since then, the virtual space became a place for virtual fashion: from virtual dressing rooms for trying on clothes, to runways and fashion shows!
Therefore, it is unsurprising that NFT fashion has a such high demand for more digitization! So, it only made sense for luxury brands and fashion houses to join in on the trend as well! And thatâ€™s when the very first Crypto Fashion Week took place, opening the path for more!
More NFT Fashion Shows
After the takeoff of the first NFT fashion show, the VR platform Decentraland came out with the Metaverse Fashion Week. It included brands like Tommy Hilfiger and Elie Saab over a period of four days of virtual collections. And, to make things even better, digital shows are for anyone and everyone to attend and purchase cyber apparel. Some even include IRL physical replicas of the NFTs!
The whole concept of NFT fashion has always been there but people had not capitalized on it yet! In 2021, virtual sneaker brand RTFKT Studios sold more than $3 million worth of sales on NFT sneakers. And then, in January of this year, the Balmain x Barbie collaboration came out with digital dolls in pink garments!
Heck, the worldâ€™s first-ever digital dress on the blockchain sold for $95,000! So, it really was just a waiting game to see who joins first!Â
How Will Businesses Use NFT Fashion?
- Augmented Reality: the ability to interact with outfits through your phone – like DRESSX and XR Couture.Â
- Metaverse Fashion: Obviously, NFT fashion enables holders to wear their digital apparel in the Metaverse and for brands to sell NFT clothes!
- Digital Twins: Combining NFT fashion with their physical counterparts to appeal to users
- Digital Stores: finally, weâ€™ve got digital stores creating a third mode of shopping for a more interactive experience