Global fashion brands reportedly considering NFT foray
Major brands like Gucci are mulling whether to create nonfungible tokens based on their wares. Fashion giants may be the next globally recognized brands to enter the expanding NFT metaverse.According to Vogue Business, several premium fashion houses are moving closer to releasing their own nonfungible tokens.The move follows the emerging trend of creating digital twins of products and services in the lifestyle and entertainment markets, such as art pieces, music, pop culture merchandise, among others.Fashion NFTs for gaming and virtual reality is already a thing, with several companies....
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Luxury fashion brands are launching NFT collections, but will the concept resonate with the fashion industry at large? It’s no surprise that nonfungible tokens (NFT) have been dominating the crypto market this year. The booming digital asset class generated over $2.5 billion in sales within the first six months of 2021, demonstrating unheard-of financial gains for artists, brands and content creators across the globe. The rise of metaverses has also impacted the adoption of NFTs, as the world is moving closer toward visions of a future defined by augmented reality. As such, NFTs are....
While major fashion brands are going all in on the metaverse and NFTs, brands native to the Web3 space are heading back to physical reality for visibility. Web3 fashion is subverting the narrative at New York Fashion Week (NYFW) this fall. Fashion brands native to the Web3 space will be premiering in real life (IRL) at a two-day show put on by Nolcha Shows.Nolcha Shows has been actively curating events for 14 seasons. Still, this year there will be a Web3 edition featuring Web3 native brands, along with a panel on Web3's impact on the fashion industry's future.In the last few years,....
Metaverse Fashion Week demonstrated how brands and designers can further engage with consumers using NFTs. The Metaverse may be an emerging concept, but the impact that virtual game-like worlds can have on the trillion-dollar retail industry was recently demonstrated during Metaverse Fashion Week (MVFW). This entirely virtual experience was held from March 24–27, 2022, in Decentraland, a decentralized virtual social platform on the Ethereum blockchain. The online event attracted more than 70 brands, artists and designers including big names like Tommy Hilfiger, Estée Lauder, Philipp Plein,....
The Shiba Inu cryptocurrency has extended its horizons into the fashion industry thanks to a partnership with John Richmond designer wear. The Italian-based designer clothing brand, whose headquarters is in Italy, will stage fashion shows in Milan, the fashion capital. Future runway walks will showcase SHIB and John Richmond-themed outfits in a cutting-edge fashion collaboration. […]
With the rising popularity of the Metaverse, the digital fashion industry turns into a global empire, involving both the major luxury brands and retail consumers. ourtesy of Kat Taylor Cattytay, digital fashion appeared in 2017. However, we began to talk loudly about it only in 2020. It all began five years ago when Kat first made an Instagram post with the caption “Virtual Clothing!!!”Then, there was a collaboration with Adidas, Off-White, Vetements and Balenciaga. These brands were interested in introducing fashion digitalization even before it blew up in the mass media discourse. Note....