Global fashion brands reportedly considering NFT foray

Global fashion brands reportedly considering NFT foray

Fashion giants may be the next globally recognized brands to enter the expanding NFT metaverse.

According to Vogue Business, several premium fashion houses are moving closer to releasing their own nonfungible tokens.

The move follows the emerging trend of creating digital twins of products and services in the lifestyle and entertainment markets, such as art pieces, music, pop culture merchandise, among others.

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Fashion NFTs for gaming and virtual reality is already a thing, with several companies creating digital clothing items for use in both metaverses. Earlier in the year, Enjin partnered with augmented reality platform MetaverseMe to deploy fashion NFTs for digital avatars on the latter’s platform.

Some retailers are also creating digital twins of real-life clothing items for sale on NFT platforms. Purchasing these fashion NFTs often grants the buyer access to the corresponding real-life apparel.

According to Marjorie Hernández, founder of blockchain multiverse platform Lukso, high-end fashion brands are keen to go with the curve on NFTs and not get left behind

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