As with other sectors of Web3.0, the fashion industry is essential to its functioning. Dolce & Gabbana, Gucci, Louis Vuitton, and Prada release their NFT collections online. Let’s examine the applications of Fashion NFTs and their many benefits.

Virtual sneakers –

Without a doubt, when legendary brands release their limited-edition footwear, there is a lot of buzzes. Typically, customers can virtually try on the sneakers before buying them. Similar to that, Nike bought the well-known NFT marketplace RTFKT. Snapchat Lens’ usage of 3D and Augmented Reality (AR) guarantees a previously unseen experience for potential investors. It’s significant to note that the “Nike Dunk Genesis Cryptokicks” collection sold for an astounding $186,000. As a result, purchasers are placing high bids on this skin-vial-powered digital footwear.

It’s interesting that ASICS also released the NFT sneakers associated with the lifestyle Web3.0 app STEPN. More than $10 million was paid for the collection. Fitness aficionados receive benefits for engaging in physical activity according to the Move-to-Earn (M2E) idea. Users can buy a pair of sneakers NFTs built on the Solana blockchain. They can later participate in the game and win digital tokens.

Physical clothing –

At the October 2021 Venice Fashion Week, Dolce & Gabbana made its intentions for the metaverse known. Collezione Genesi, a 9-piece collection from the Italian luxury fashion house, fetched about $5.65 million. A men’s suit, a multicolored dress, physical designs, and sketches were all included in the collection. Manish Malhotra, a renowned fashion designer, turned heads during Lakme Fashion Week by debuting his NFT line. It featured magnificent sketches of the outfits and star constellations worn by well-known actors and models.

An NFT for Kareena Kapoor called “Illuminous Showstopper” sold for Rs 2,80,000 in 12 seconds. Investors can therefore own the actual dress as well as its animated avatar. Daniell Avakian, a renowned designer, will also present couture outfits during the next Australian Fashion Week (AFW).

we deserve a bear market for all the fashion crimes crypto millionaires committed pic.twitter.com/snFpY3Ik78

— yzy.eth (@LilMoonLambo) October 23, 2022

Wearables –

A metacloset called DressX is best described as digital fashion on the blockchain. DressX wants to address problems plaguing the global fashion business, such as excessive product returns and ineffective inventory management, through its online marketplace. Customers can buy bodywear, shoes, tops, suits, sweatshirts, and accessories. Users can also upload their photos to obtain a digital look instantly. Many men and women will be fascinated by the Augmented Reality (AR)-enabled wardrobe. Street Art Guccighost originally stood for a Halloween costume. Talented designer Trevor Andrew collaborated with Gucci to produce skirts, rings, and handbags, selling about 385 distinct pieces. But Trevor has had great success with his paintings and customized clothing, drawing many investors’ interest.

Digital Models –

Cornell University’s Spring Runway Show saw the sale of digital models created by a student named Lior Cole. Selling off the NFT is how she intends to raise money. The 8-second movie “Colours of the metaverse” shows how the physical and virtual worlds coexist in perfect harmony. A record-breaking sale is anticipated for the NFT, as it is the first in the 38-year history of the Spring Runway Show, with bidding open for ten days.

Also Read: Top 10 Uses Of Web 3.0 In The Fashion Business In 2022

Is Web3.0’s future one that combines physical and digital elements?

On the Solana blockchain network, the NFT project Monkey Kingdom is well-liked. It consists of 2222 NFTs in total. It has teamed with AMBUSH, a lifestyle company with its headquarters in Tokyo. Investors who previously purchased the Monkey Kingdom and AMBUSH NFTs will get access to clothing, physical goods like jewelry, and an avatar dubbed MONKEY LEGENDS in Web3. The NFTs all depict the legendary character Sun Wukong. The Monkey Legends will eventually live in the Kingdom Metaverse. They may also wear AMBUSH clothing. This partnership between the Monkey Kingdom and AMBUSH demonstrates a flawless fusion of the physical and digital domains.

A Conclusion

The interest in NFTs will increase over time, and this will cause the fashion industry to change quickly. Importantly, when businesses and designers attempt to entice the community with their exclusive collections, technologies like augmented reality (AR), virtual reality (VR), and artificial intelligence (AI) will play a significant role. In the fashion verse, NFTs would develop into the arena for both creation and commercialization. Web3 Crypto is expected to impact the fashion industry significantly, so those that go forward now will be in a better position.