In this article, you’ll discover the fashion metaverse and the different ways NFT sneakers will show up.
Like its real-life counterpart, the virtual sneaker-verse is just as stylish, exclusive and hype-worthy. Learn all about the fashion metaverse and how you’ll be styling your virtual shoes.
Tech and fashion don’t share much in common at first glance. Historically, both industries have stayed on opposite ends of the spectrum. Fast forward to 2022, and we’ve witnessed the COVID pandemic accelerate digital transformation across every industry, including fashion. And if you look a little deeper, the similarities between consumers of both worlds are more evident than you’d think. Like NFT collectors, fashion consumers are equally driven by looks, hype, status and exclusivity. The latter flaunts their shoes and clothes while the former shows their digital avatars. So what if the two worlds converged, enabling consumers to express themselves in both the virtual and physical worlds?
With the rise of the metaverse, more consumers are buying into the value of virtual items, while global fashion brands are merging with tech giants to create the fashion metaverse, a multi-billion dollar market that is starting to turn heads—and wallets. If we’ve piqued your interest in fashion NFTs, virtual shoes or just NFTs in general, you can check out the latest drops and collections on Binance NFT, the official NFT Marketplace of Binance.
What is the Fashion Metaverse?
From hypothetical to reality, the metaverse, a living, breathing virtual world where people can interact with other users, is now being touted as the future of the internet. So how does fashion come into play—the answer is three letters, NFT, or non-fungible tokens, the invention that shook the art world to its core. Barring the exorbitant price tags and six-figure headlines, NFTs demonstrated a blockchain-powered method of authenticating ownership in the digital realm. Diving deeper into the fashion metaverse, NFTs open a doorway for luxury brands and consumers to show off their virtual garments.
Early movers in the fashion metaverse include Jimmy Choo, who launched the world’s first global luxury fashion NFT collection on Binance NFT Marketplace. The collection featured a one-of-a-kind digital NFT sneaker produced for the JIMMY CHOO / ERIC HAZE CURATED BY POGGY collaboration and 8,888 Mystery Boxes packed with Jimmy Choo / Eric Haze LOVE 100 Glitter NFT cards of varying rarity. The one-of-a-kind digital NFT sneaker was sold to the highest bidder alongside a real-life limited-edition hand-painted pair of sneakers. If you’re interested in purchasing the Jimmy Choo Mystery Box collection, you can visit Binance NFT’s secondary market.
The Culture of Hype and Status
Streetwear and luxury fashion have continuously operated beyond the realm of utility, functioning as a form of self-expression and status. Add a Supreme logo to a graphic tee, and the price tag is suddenly justified. While pricey materials play a big part in the price tag, exclusivity is the driving force. Consumers pick and buy into brands because of the identity, status and culture they evoke. For example, modern sneaker culture is driven by hype and owning what others don’t have. Sneakerheads fill their collection with limited-edition drops and collaborations to flex their status in the shoe game.
The metaverse could provide a foundation for said sneaker collections to exist physically and virtually via NFTs. Some luxury brands have already released digital counterparts for shoppers to bring into their video games. NFTs not only authenticate virtual goods but also reinforce exclusivity and scarcity. You can copy digital assets, but the private token proving ownership is unique and one-of-a-kind. This creates the conditions for scarcity, which is vital to the perceived worth of luxury goods.
4 Ways to Style NFT Sneakers in the etaverse
Now that you’re familiar with the basics, here’s a deep dive into how your favorite sneakers could appear in the fashion metaverse.
1. Digital art and collectibles
Currently, most fashion NFTs are akin to art and exclusive collectibles. Like the NFT community, sneakerheads are sold on the idea of exclusivity, which includes waitlists, camping outside stores, limited-edition drops and rare-archival pieces. Your real-life sneaker could appear on the blockchain as a virtual NFT trading card or a more traditional piece of digital art to display, appreciate or show off.
2. Direct-to-avatar
Fashion brands are already starting to release direct-to-avatar (D2A) digital collections. Recently, there's been an influx of up-and-coming clothing brands dedicated to designing and selling digital-only fashion. Imagine a network of augmented and virtual reality hubs accessed via smartphones or headsets. Users can create and customize their digital avatars to represent themselves in the virtual world. Express yourself in the metaverse with NFT sneakers from your favorite brands, or buy and sell new outfits in seconds for your avatar.
3. Digital images
Marketplaces are popping up for digital fashion designers to sell their designs and for customers to wear them outside of video games or marketing campaigns. Rather than paying to own a physical garment, customers pay for digital versions they can overlay on images of themselves. Digital items can take on textures that are impossible in real life, like iridescent or glowing items, in both static or motion versions—picture your rare sneakers literally on fire.
4. Augmented reality (AR)
The fashion metaverse will only become more relevant as augmented reality technology matures. Besides the concept of status and showing off, users will be able to flip through their virtual closet and try new outfits from the comfort of their home or anywhere. If you’re concerned the shoe you’ve been eyeing will match all your outfits, just try them on in the metaverse, and you’ll find out instantly. Besides convenience, allowing customers to virtually try on clothing before it hits the production lines cuts costs and environmental impact for clothing brands. All it takes is a pair of hi-tech smart glasses, and your reality has transformed into something out of this realm.
Discover Fashion NFTs on Binance NFT Marketplace
If you’re looking to build your virtual wardrobe, Binance NFT is a simple and intuitive marketplace with a vast offering of top NFTs. At Binance NFT, we’re currently working with leading fashion brands and companies to expand the industry and launch new and exciting collections. In addition, we just launched our first-ever Subscription Mechanism, a new feature that gives all our users a fair and equal chance to purchase NFTs successfully.
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DISCLAIMER: NFTs are an emerging asset class that is still evolving. The information in this article should not be construed as investment or financial advice. Always do your own research before making any decision to buy, sell or trade NFTs.
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