In brief:
- 2021 brought an explosion of demand for NFTs, and digital fashion
- “Wearable NFTs” hit the market in a big way in 2021, and continue in 2022
- From augmented reality (AR) fashion, avatar accessories, wearable NFTs the next big thing
Accessorize Your Digital Self with NFTs
Major players in the fashion world have joined the world of NFTs in the last year.
This includes names like Gucci, Dolce and Gabbana, Louis Vuitton, and Burberry.
Fashion giants such as these have started to design and sell high-profile virtual NFT couture.
It’s no surprise that luxury brands are now bringing in millions of dollars in NFT auctions and sales.
Now, you can buy Gucci digital sneakers and Burberry NFTs in games like Blankos Block Party.
Dolce and Gabbana sold a fashion collection in September with nine NFTs for $5.7 million in ETH.
And brands like Louis Vuitton have even launched their own games where players collect NFTs.
Benefits of Digital Fashion
Luxury brands are a good fit for the NFT world because they already have brand loyalty and prominence.
As a result, buyers flock to their new offerings. And the fashion industry can enjoy the utility and sustainability that comes with digital fashion.
For example, non-physical fashion can prevent the environmental harm of fast fashion. NFT wearables also save in production costs.
For users, NFT wearables give you another way to express your style.
As an NFT, they hold unique value. Some NFTs are 2D, like Metawatches’ 2D wearable watch designs.
Others offer 3D models that users can wear in virtual worlds.
Additionally, it doesn’t hurt that working from home lends itself to more time spent in a digital, social world.
In response, virtual world platforms, like Cryptovoxels and Decentraland, emerged on blockchain.
They host events where users can show off their NFT names, avatars, and attire to other users.
As a result, your digital persona can become a walking piece of art, unique to you. Atari is one household name that has designed NFT wearables for Decentraland.
Top crypto exchanges like Binance and Kraken have begun selling their NFTs.
Major Players in the Digital Fashion World
Capitalizing on this new demand, many other tech providers are deep into the wearable space.
These providers often fall into two categories: environments to design NFT content and auction platforms to sell and display wares.
Examples of the latter include UNXD, The Dematerialised, and LuxF, which all offer marketplaces for an NFT collector to shop.
Others like The Fabricant, Exclusible, Lukso, SpatialPort, and Neuno offer design tools to allow digital creators to “hem” and “sew” their own wearables.
Digital-Only Fashion Brands
In this new industry, there are digital-only brands such as the pioneer, the Fabricant, and “the digital Supreme” virtual sneaker company RTFKT.
RTFKT offers limited sneaker NFTs that users can wear on social media as a filter.
Another major player is DressX, a digital wearable marketplace startup. It describes itself as the “first multi-brand retailer of digital fashion clothing.”
The platform has traded NFTs from celebrities like Snoop Dogg and Lionel Richie.
NFTs in the Physical World
For enthusiasts, NFTs aren’t limited to dressing up your digital avatar.
With the virtual fashion startup Auroboros, you can buy NFTs to add to a real image of yourself you can send in.
Other NFTs allow you to “put on” the item in real life with a Snapchat filter or AR tech.
And with enft.io, due to launch later this month, you can display your NFT IRL with an Apple Watch necklace.
With this new tech, your online profile pic or other art can hang from your neck. Thus, signaling your style to other NFT fans in the physical world.
With all these kinds of wearable NFTs, we’re sure to see increased interest and growth in the industry in the coming months.
An NFT enthusiast and a crypto early adopter, Bodi is the editor in chief on RareBot.com. He is joined and assisted by a team of NFT fans and experts bringing you the latest news in the industry. He is a finance major with 20 years of experience and education in tech and banking.
