NFTs have often appeared in the news and social media, causing a complete NFT fever around the fashion world. The fashion world has always been about the physical presence and statement, making it huge in virtual reality. It is not something new that Silicon Valley has introduced the world with and convinced that it exists; this time, it is fashion NFTs. So what is this gaga for, let us understand.
NFTs cannot be substituted with anything else, making them unique and hence are non-fungible tokens. Let us take the example of an Altcoin or a Bitcoin. If you replace one Altcoin with another, you can have the same value as before. But these NFTs are exceptional and cannot be traded for another. NFTs can be anything that has been created digitally, including (but not necessarily limited to) music, art, and even tweets. In short, these are exclusive digital assets that you own but can keep existing in the digital world for others to view.
NFT Fashion and its significance
With gaming and digital fashion coming to the forefront, the fashion industry has recently engaged in NFT. What does NFT do in fashion? An NFT can be virtual fashion, and people can buy virtual outfits and own them. Dolce & Gabbana gained about US$6 million last year in their inaugural NFT collection auction. NFT experts have stated that fashion NFTs represent the next evolutionary step as we have officially begun our full-fledged journey in the metaverse.
A sci-fi concept that turned omnipresent and is responsible for the buzz around where in the world where you don’t exist will be seen taking up a virtual job, wearing virtual clothes, and attending virtual social gatherings. Who knows what this digital and virtual world is capable of?
Top NFT fashions trends
RTFKT studios (pronounced “artifact”) bring in virtual sneaker drops and are a luxury brand established in 2019. They collaborated with an 18-year-old crypto artist that designed some virtual sneakers for the brand. They released about seven new virtual sneakers.
However, Nike announced that they are taking over the RTFKT studio, and the terms of the acquisition are not yet released anywhere. However, the cool Nike backgrounds will only enhance the sneaker brand as Nike has been making it huge for ages in the actual world. Nike taking on the virtual world with this acquisition is something that does not need a prediction, as we all know it will be the next big thing for the metaverse.
Louis Vuitton also has been seen stepping into the game as they released “Louis the Game” on its founder’s 200th birthday anniversary. The NFT collectibles in this game were open for collection, but not was available for sale. Gucci was also seen engaging in the virtual fashion world, and it was one of the first fashion brands to indulge in the NFT world.
Final words
The fashion industry was seen involved in this blockchain technology and created wonders in NFT projects that have never been seen before. NFTs can prove to be an excellent platform for fashion enthusiasts to create and own arts that could be put up for display for the whole world.
