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Crypto Fashion: What Is It And How Does It Work?

This week we’re focused on Crypto Fashion. And with the exploding NFT boom, we’ll explain what it is and how you can get involved.

Crypto Fashion: What Is It And How Does It Work?

Avatars aren’t a new thing. We’ve seen it with early PlayStations, Runescape, and much more.

But before the NFT market boom, the concept had been looked at as gimmicky. Yeah, it’s fun to buy sunglasses for your Bitmoji, but you’re not actually proud of it. Right? (right??). As it becomes more commoditized, fashion brands are realizing the power of immersing themselves in a “gaming world.”

And big money is flowin’ and it’s working.

soiree crypto fashion
@cryptofashionweek

Decentraland announced that users could make and sell their own clothing for avatars to wear. And a designer I read up on really painted the picture of how massive this is. He spent 1-night developing Japanese-inspired garments. And sold them for $140 each. And made $20k in 1 week. Another company has racked up $7 million dollars in sales selling NFT shoes. Yes. Shoes.

Can you imagine the opportunity here?

Louis Vuitton, Burberry, and Gucci sure have. Louis Vuitton launched their own metaverse where players can collect NFT’s, Burberry created branded NFT accessories and Gucci sold non-NFT clothing for avatars within the Roblox game. But the overall market is still hard to understand and is far from established. At the end of the day, online fashion can’t replace physical purchases.

But it’s definitely in its infant stage. And because of the pandemic, crypto fashion has secured digital relevance. Especially as cryptocurrency becomes mainstream. Some are even considering it a crucial part of the future of fashion and creating.

As we go into the future, it’s not hard to believe that digital fashion will overtake physical sales sooner than we think. It can save manufacturing costs, landfills, and stop overconsumption. And fashion is in desperate need of all those things.

What do you think about crypto fashion? Would you ever buy digital shoes for $16k?

Cool metaverses to check out:

Zed →
Dark Forest →
Decentraland →
The SandBox →
Cryptokitties →

All, Story of the Week

CATEGORYCATEGORYCATEGORY

March 28, 2022

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