How are Global Brands Making the Best Use of Fashion NFTs?

Many brands launching metaverse-only collections and making millions off of fashion NFTs

In the age of the digital era, NFTs or non-fungible tokens are revolutionizing the fashion industry, attracting many multinational brands to put their hands into tokenization of their products and services as virtual assets. To put it into simple terms, fashion is recognized as a form of self-expression and status. Additionally, the fashion market is forecasted to be worth billions of dollars, throwing light on how vast the market is. On the same note, the fashion metaverse market is gaining popularity. There are a number of brands launching metaverse-only collections and making millions off of fashion NFTs. This article features how global brands are making the best use of fashion NFTs

Gucci

This fashion brand has embarked on a number of initiatives that have propelled the Italian luxury brand to new fashion heights. Its first NFT-related project is inspired by its Aria collection. Off late, Gucci collaborated with metaverse and gaming platform Roblox, launching a space called Gucci Garden.

Louis

This fashion brand came into the limelight for the fact that it released a mobile game in partnership with digital artists Beeple that came on the occasion of the celebration of founder Louis Vuitton's 200th anniversary last year. The mobile game is known by the name 'Louis the Game', where the users are given an insight into the storied brand.

Nike

Yet another active fashion brand in the metaverse domain is Nike which has launched a number of digital-only initiatives leveraging blockchain and web3 technology. It launched its presence with the inauguration of Nikeland on Roblox. This metaverse space is modeled after the company's real-life headquarters.

Adidas

Adidas grabbed eyeballs from everywhere across the globe for releasing its 30,000-strong NFT collection, that is created in collaboration with the Bored Ape Yacht Club, pixel vault's PUNKS comics creators, and crypto investor Gmoney. The buyers can purchase not only the NFTs but also the physical clothing attached to them.

Prada

Prada, yet another famous fashion brand, has recently joined forces with Adidas Originals for a limited edition NFT collection created by users all over the world. The project is titled – "Adidas for Prada Re-Source", wherein some random participants from industries like fashion, design, and crypto who were tasked with creating individual NFT tiles. After the minting is done, the tiles were compiled into one NFT world by the hands of digital artist Zach Lieberman.

Balenciaga

The roadmap of Balenciaga from Paris Fashion Week to the metaverse is impressive. It was in the year 2021 that this luxury label became the first to release an NFT capsule collection in the videogame Fortnite, a wildly popular virtual world where players can build their own games. A point to note is that the users can visit and buy virtual Balenciaga items at the Fornite x Balenciaga store.

Forever 21

Not only has this brand entered into the fashion domain with a bang but also carved a niche for itself in the metaverse market too. The brand had a dynamic storefront with Forever 21 avatars and a range of 21 fashion NFTs, inspired by pieces available in physical stores. It also has launched the "Forever 21 Shop City" on Roblox, where users, fashion influencers, and creatives can build, own and manage their store.

Zara

Who isn't aware of Zara? Well, the popularity is no longer limited to the fashion market but the Metaverse domain, too. Way back in 2018, Zara started experimenting with augmented reality thereby releasing an AR app and placing AR displays in 120 stores around the world. Recently, this fashion giant entered into a partnership with Zepeto, a South Korean metaverse with nearly 300 million users, and fashion collective Ader Error to launch its latest collection in a virtual world.

Ralph Lauren

Ralph Lauren's first step into the metaverse market was when the fashion brand launched the "Ralph Lauren Winter Escape" experience inside the Roblox universe. Here, the visitors had the chance to snap up some of the brand's NFTs, from puffer jackets to checkered beanies and a ski wear collection,

Boohoo

This is a British fast fashion retailer that has been experimenting with new platforms as of late. Recently, it launched boohooverse – a Web 3.0 platform dedicated to empowering women in the digital space. What is worth attention to is the fact that the initiative is dedicated to onboarding the female fashion community into Web3 and future fashion projects in the metaverse.