Fashion houses are interested in digital currency and a virtual form of ownership — NFT-tokens, for which digital and real clothes can be exchanged. According to digital designers, the tokens will allow brands to go beyond physical reality — selling non-existent clothing for computer games and avatars on social networks.
Recently, interest in NFT has surged due to the sale of digital artwork at auctions. Fashion houses also want to keep up with the trends. Robert Treifuss, Gucci’s vice president of customer relations, told Vogue Business that the release of the brand’s NFT tokens is “a matter of time.” Other industry sources also confirmed to the publication that a number of luxury fashion houses are going to issue NFT tokens in the near future. Luxury brands want to catch up on new technology this way, according to Marjorie Hernandez, founder of Lukso, a blockchain platform that works with fashion brands.
The move to NFT tokens is the next evolution for luxury brands, which are mastering digital wearables and virtual models for themselves, Hernandez believes.
However, exactly how to use tokens in the fashion industry is not understandable for 100%. “So far, the kind of fashion that’s being sold with tokens is fashion as art, not the clothes themselves,” explains Cathy Huckle, CEO of Futures Intelligence Group, a company that advises brands on approaches to new technology and virtual goods.
This means that brands can currently sell GIF images of clothing items for tokens, but customers can never wear them. Digital clothes that don’t exist physically can be bought in a computer game and dress up your character in them. There are already digital fashion weeks — Crypto Fashion Week — involving virtual models.
Hope this industry going to get even more interesting and professional.