Enter the world of NFTs, fashion wearables and accessories for tomorrow’s ‘Meta Environments’!
Fashion has always served as a reflection of society’s most flamboyant instincts and every generation from the ‘boomers’ to the ‘millenials’ have had those that pushed the boundaries of what is considered the ‘norm’.
Today’s ‘digital society’ is no different. An entire generation of young folk (Gen Z/Alpha) are starting to redefine what fashion can be and it’s taking the whole of the online world by storm. Unlike their predecessors, today’s youth live and breathe online and with some of their lives being played out within the digital world, fashion and fashion trends have also begun to make a shift.
When Mark Zuckerberg the CEO of Facebook first began to speak of the ‘Metaverse’ not very long ago, the signs were already there that the current and future generations would be spending a disproportionate amount of time in cyberspace!
Here are 5 reasons why fashion in the Metaverse will be bigger than anything we have known so far:
1. Technology will drive tomorrow’s fashion trends:
For the longest time ever, technology was considered geeky while fashion was trendy! Their followers simply didn’t overlap. But all of that is changing with the emergence of the Metaverse. Brands, especially fashion brands are flocking to release their digital fashion accessories and wearables. While there are those who still cast aspirations of this phenomenon, one thing is fast becoming clear – If we are to spend so much of our life online, we must at least appear ‘cool’ doing it!
2. The rise of NFTs:
While online gamers have long been familiar with “skin” or digital attire – to be purchased within the game environment, using real money, NFTs or Non Fungible Tokens really shot to prominence during the pandemic. While the physical world lay frozen thanks to Covid, the Metaverse offered opportunities for people stuck at home to “travel” or “hang out” and of course while doing so, one must look good. NFT sales grew from just under $ 30 million in 2021 to over $ 10 billion in 2022.
3. It’s Pro Environment:
With so much focus on global warming, it is but natural that every industry including the Fashion Industry is looking to reduce its carbon footprint. Wearable NFTs are extraordinarily pro environment, emitting upto 97% less carbon dioxide than physical cloth.
4. It’s extremely inclusive:
One of the great challenges that has always confronted the fashion industry is that their subjects are rarely homogeneous. Differences in body types, climatic conditions, culture and appeal across the world have always presented barriers to a uniform fashion code. The Metaverse can change all of that, as digital avatars can be customized according to the user’s specifications and can ‘wear’ literally any kind of apparel within the digital ecosystem.
5. It’s just getting started:
Even though it’s a radical idea for most people, brands like Nike, Adidas, Gap, and Crocs have entered the NFT market with wearables. Incredibly, the digital fashion industry is estimated to grow to $ 56 billion by 2030.