Blockchain technology and the world of fashion are more and more linked, always in constant evolution and contamination, and more and more companies are investing in new technologies of the virtual world.
Decentraland is one of main metaverse platforms, more and more important reference point for the fashion industry, and the first Fashion Week in the metaverse is scheduled between 24 and 27 March. On this occasion, all registered users on the platform will be able to purchase outfits for their avatars. Also in this context, a plot of land defined as Fashion District has recently been sold for a total value of 2.4 million dollars
Nft, 2021 year of the record
Thanks to metaverse, the business of NFT (Not-Fungible Token), ie digital certificates of authenticity that designates, as virtual, intangible and potentially infinitely replicable contents, is destined to explode definitively.
The business of NFT has anyway already exploded, if we look at the data of 2021, the year in which from art to fashion and from videoclips to music, NFT sales reached a record figure of about 25 billion dollars, according to market tracker DappRadar.
Not fungible Token business
Over the last year, the prices of some non-fungible tokens have increased exponentially. The world of art has been the fastest in making money, with auction houses that sell NFT representing simple cartoons for millions of dollars without physical objects changing hands. An NFT work of art, for example, hit a record $ 69.3 million in a Christie’s sale in March.
Even some of the most important luxury houses, such as Dolce & Gabbana, Hermès and Gucci, have sold their NFTs.
The volume of sales in 2021 was a whopping 24.9 billion dollars compared to just 94.9 million dollars the previous year. 28.6 million wallets exchanged these virtual ownership certificates, up from just 545,000 in 2020.
Now… what about you? What do you think of the world of fashion in the metaverse?