Fashion brands are all about exclusivity; NFTs offer limited copies with proven authenticity and clout in the metaverse. Are they a match made in heaven? Find out here 👇
With many legacy brands entering the NFTs and metaverse space, one might wonder — what about fashion brands? After all, its lifeline depends on exclusivity, limited copies, highly sought-after pieces by famous designers that people would literally queue up for. The decision to brandish an exclusive Chanel bag is probably not that different from having a Punk or Ape as your PFP — it signals social exclusivity, that you are in the "in-group".
Well, simply put, these virtual collectibles offer brands the opportunity to advertise to an otherwise untapped market of consumers: gamers. In turn, this provides abundant advertising for fashion brands. Not only are their products are worn in the metaverse, their profits skyrocket as people buy more and more of their NFTs. Not to mention the cost of making NFTs may have a lower footprint compared to making actual tangible items.Here are some more reasons why fashion brands may want to make NFTs.Generally, making and marketing a product costs as much money equally if not sometimes more. On average, a Gucci model makes $62k a year.
Gucci has collaborated with The Sims, Tennis Clash, Genies, Pokemon Go, Roblox and Animal Crossing in the previous year, in addition to its own Gucci Arcade, which debuted in 2019, and its Sneaker Garage, which will debut in October 2020.Louis Vuitton was born in 1821, 200 years ago. The company is going all out to commemorate the founder's milestone birthday.is a commemoration of Vuitton's life as well as a reaffirmation of his legacy.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Dez Bryant Taps Chainlink for ‘Dynamic’ Sports NFTs.DezBryant is working with chainlink technology to bring 'dynamic' NFTs to his personalcorner platform. elitanjourno reports
Read more »
Hermès Does Not Seem at All Pleased About Those Viral Birkin NFTsArtist Mason Rothschild says the brand asked an NFT marketplace to stop selling his digital versions of the handbag.
Read more »
JPMorgan Shares Predictions on Crypto Markets, Ethereum's Upgrades, Defi, NFTs – Featured Bitcoin NewsGlobal investment bank JPMorgan has published a report on the future outlook of crypto markets, including Ethereum's upgrades, decentralized finance (defi), and non-fungible tokens (NFTs). The bank sees 'the cryptocurrency markets as increasingly relevant to financial services,' its analyst described.
Read more »
Wind-Breaking NFTs: Reality Star Who Made $200K Selling Farts in Mason Jars Launches NFT Collection – Blockchain Bitcoin NewsIn order to be more conscious of her body, Stephanie Matto is now leaning on blockchain technology to continue her fart-selling career. NFTs
Read more »
'Making a Stronger Impact Artistically' — An In-Depth Discussion About NFTs With System of a Down’s Serj Tankian – Interview Bitcoin NewsCheck out our interview with systemofadown’s serjtankian about NFT technology, bitcoin and the future of artistic expression. 👉
Read more »
Ethereum Users Pay Record-Breaking Fees as Coin Loses Almost 20% in Last 4 Days, Here's WhyEthereum and NFT have surged in popularity since the beginning of the year, resulting in fee spike
Read more »