{"id":14298,"date":"2022-09-30T15:22:40","date_gmt":"2022-09-30T15:22:40","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/how-nfts-and-the-metaverse-can-keep-fashion-luxurious\/"},"modified":"2022-09-30T15:22:42","modified_gmt":"2022-09-30T15:22:42","slug":"how-nfts-and-the-metaverse-can-keep-fashion-luxurious","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/how-nfts-and-the-metaverse-can-keep-fashion-luxurious\/","title":{"rendered":"How NFTs and the Metaverse can keep fashion luxurious"},"content":{"rendered":"
<\/p>\n
It\u2019s no secret that the fashion industry has started to explore the cryptoverse, with brands like Dolce & Gabbana, Gucci, Philipp Plein and Tiffany & Co. taking their own path down the metaverse runway.\u00a0<\/p>\n
Decentraland\u2019s Metaverse Fashion Week hinted at a new wave of fashion, while Philipp Plein brought the metaverse and nonfungible tokens (NFTs) right into his London shop. The innovative technology mixed with the ever-changing fashion world was an inevitable pair, but there is always room for more.<\/p>\n
Even during its inception, the promise of the metaverse has convinced people to pay millions for land in the virtual worlds \u2014 so, why not fashion? The fashion industry is always looking for new ways to innovate and create new traditions. <\/p>\n
While the metaverse removes the tangible aspect that captivates many in the fashion industry, it is a new way to experience wearing and using beautiful pieces digitally on a personal avatar. Lokesh Rao, CEO of Trace Network Labs, previously told Cointelegraph that \u201ca digital avatar can wear any garment without any constraints of type, design, fabric and use.\u201d<\/p>\n
As many know, however, the fashion industry remains one of the most exclusive industries in the world. With Chanel\u2019s bag quota or purchase criteria and the long waiting list to get a Herm\u00e8s Birkin or Kelly, a lot of the influence in the fashion industry comes from exclusivity, price, outfits and, in many cases, who one knows. <\/p>\n
And as many fashion enthusiasts understand, there is nothing like opening the box of a long-coveted piece and holding, wearing and loving it for the first time. The idea of luxury is a melange of both exclusivity and passion. Why should fashion in the metaverse be any different?<\/p>\n
While prominent brands value their traditions, they should also evolve as time goes on. However, appealing to a new user base while keeping the existing ones entertained is not easy.\u00a0<\/p>\n
In a fight to keep customers and enthusiasts loyal to the brand, Indr\u0117 Viltrakyt\u0117, a fashion entrepreneur and the founder of Web3 fashion venture The Rebels, suggested they \u201cco-create digital wearables with members of their community and sharing commercial rights\/profits or royalties with them.\u201d <\/p>\n
In this case, Viltrakyt\u0117 told Cointelegraph that digital collectibles could help showcase fashion enthusiasts\u2019 interest in a brand. These would not only be available to influencers, or the lucky ones who are given PR packages for their large following and interest in a brand, but could be for everyone. <\/p>\n
For example, Maison Margiela could offer a set amount of digital wearables when buying a pair of the Bianchetto Tabi Boot. The boots can be worn in the Metaverse and in real life for those diehard fans who do not necessarily have a following behind them.<\/p>\n
Recent:\u00a0The Caribbean is pioneering CBDCs with mixed results amid banking difficulties<\/em><\/strong><\/p>\n Tiffany & Co. has already done something similar with their CryptoPunk NFT collection NFTiff, a collection of CryptoPunk-inspired NFTs that are \u201cexclusive to CryptoPunk holders.\u201d <\/p>\n We\u2019re taking NFTs to the next level. Exclusive to CryptoPunks holders, NFTiff transforms your NFT into a bespoke pendant handcrafted by Tiffany & Co. artisans. You\u2019ll also receive an additional NFT version of the pendant. Learn more: https:\/\/t.co\/FJwCAxw8TN #NFTiff<\/a> #TiffanyAndCo<\/a> pic.twitter.com\/pyKlWejHv4<\/a><\/p>\n\n