By: Max Dhindsa
While most NFT applications have been focused on collectibles, art, and games, many notable fashion-focused NFT applications appeared in 2021. This trend was sparked by high-end designers, whose products have a lot in common with art and collectibles in terms of worth and prospective appreciation. This past year, at New York Fashion Week, Rebecca Minkoff debuted an NFT collection, while Dolce & Gabbana debuted its first NFT project, which generated over $5.65 million in sales. The glass suit NFT, which sold for almost $1 million, was the most notable piece in the collection. A "real world" version of the item, custom-tailored to the owner's dimensions, will also be delivered.
More "popular" companies have followed suit this autumn. Adidas partnered with the Bored Ape Yacht Club on a project, while Nike just purchased RTFKT, a virtual footwear business for $1 Billion. Historically, digital clothing has been mostly focused on games. From just "flexing" a great style to activating unique in-game skills and features, there are a variety of usage cases.
Virtual clothes, coats, sunglasses, pants, caps, footwear, and accessories that you can put on your digital avatar are known as wearable NFTs.
In the metaverse, where individuals may walk about, socialize, play games, and attend events, wearable NFTs are generating genuine revenue. Wearable NFTs, in other words, provide a new method to express oneself, a unique piece of walking art that may also serve as a status signal.
The use of blockchain technology and smart contracts, which help authenticate the originality, validity, and ownership of each garment or accessory, makes these digital-only creations viable. In other words, the technology generates digital scarcity while enabling multiple benefits.
People who care about their appearance, both in-person and online, are drawn to digital apparel.
Virtual/digital fashion can be placed on an avatar directly or worn using augmented reality. Digital fashion is gaining traction on social media platforms such as Instagram and Facebook, and the game industry is experimenting with virtual clothing as well. The digital fashion possibility is only developing, with multiple memorable moments in fashion and valuable NFTs.
The Fabricant, DressX, and The Dematerialised, among other digital fashion houses and marketplaces, have released collections with well-known labels like Rebecca Minkoff, as well as corporations like Farfetch, Google, and lesser-known digital firms like RTFKT, throughout the year.
Virtual clothing has been used in gaming and real-life simulations like The Sims and Second Life for well over two decades. As a result, the metaverse takes it a step further by allowing users and creators to have a more customized experience and explore their self-expression in ways that weren't before conceivable.
Luxury companies have recognized the potential of digital couture, which is expected to grow to $56 billion by 2030, according to some projections.
Wearing a digital garment or a pair of NFT shoes might feel like an extension of our physical identity or a new way to express ourselves. Here are a few things that make them unique:
Without the limitations of the real world, such as material durability, digital fashion may reach new heights. Impractical and impossible materials such as liquid gold, water, fire, and smoke can be used to create garments. This one-of-a-kind blank canvas invites unique and unusual designs.
You won't have to worry about your size in the metaverse if you truly want to put on clothing. Wearable NFTs are intended to be non-discriminatory for people of all shapes and sizes. Furthermore, there are a number of new businesses concentrating solely on genderless digital-only creations.
Most of us have experienced the frustration of desiring a certain design but not being able to buy it. Wearable NFTs are not only fashionable and unusual, but they are also reasonably priced. This makes the metaverse more accessible to a wider spectrum of people. New designers can also benefit from accessibility since they will have a better chance of breaking into a world that can be difficult to get into in the real world.
Designers will never run out of fabric or samples in a virtual environment, and supply difficulties will be a thing of the past. This provides creators with a new level of power and inventiveness, allowing them to work with limitless possibilities.
Designers can experiment with novel monetization models using wearable NFTs, such as becoming co-owners of their products or embedding royalties into them so that every time an NFT changes hands, the creator receives a share of the transaction.
Wearable NFTs are touted as an environmentally beneficial option since they release 97 percent less CO2 than tangible things. Furthermore, because digital clothes do not require raw materials, shipping, manufacturing, or labor, they are an ethical manner of generating fashion.
Wearable NFTs are just that: they're wearable. They're like a virtual closet for your virtual existence. Your avatar will be as unique as the hats, coats, jeans, sunglasses, and sneakers you wear every day. The problem is, those sneakers you desire are limited edition, and getting your hands on them digitally may be difficult. NFT Wearables will profit from brand and scarcity in the same way that digital scarcity is changing the way creatives market their works (i.e., NFT Art and Music).
The major use for wearables is to have a digital “flex” within the Metaverse. Your NFT Avatar will wear the NFT Wearable inside the metaverse, instantly showing off to their peers inside the digital world.
There have been certain limitations set in the NFT Wearable marketplaces, to avoid spam as well as keep the community balanced.
Decentraland has published a Wearable User Guide, which helps creators understand how their work must go about before getting uploaded on any marketplace in Decentraland.
The 3D Model must be in (.GLTF) Format, which is a great format for virtual streaming on the web. The model is limited to be of 1500 triangles maximum for a wearable, and another 500 for an accessory. The textures are also limited to a maximum of 2 textures, with their sizes being 512x512 pixels or less. For the Skin category, the limit is 5000 triangles and 5 textures of 512x512 pixels or less.
Decentraland DAO has agreed to have a required fee to publish wearable NFTs.
This prevents creators from publishing too many NFTs, in order to manipulate the marketplace.
The fee was initially agreed to be 500 MANA (Decentraland Currency) but since MANA rose in value, it was revised to be of MANA Coins valued to a total of $500 (USD). This fee is paid per item.
The cost in the calculations below is 500 MANA. The DAO will revise the MANA fees on a weekly basis in order to keep them consistent with the $500 valuation.
For example, if you publish a collection of two goods, you must pay a price of 1000 MANA (500 MANA for each item), regardless of their rarity (or the number of NFTs that can be minted).
These fees go to the Decentraland DAO, which uses them to help support the platform's growth through grants and other projects that the Decentraland community votes on.
There is an asset related guide on the official website of The Sandbox platform if you search for their FAQs. The asset can represent collectibles, wearables, or in-game experiences. According to the guide, the assets made using VoxEdit are categorized into three kinds that can be monetized in form of NFTs representing ERC-1155. Sandbox has divided its assets into the following kinds:
The platform allows users to sell their assets on the marketplace with The Sandbox’s VoxEdit software. On the other hand, users might purchase artworks of other artists through the marketplace with $SAND which is the utility token of the sandbox. The platform also allows you to purchase assets from OpenSea or Rarible. Anyone who owns an asset will be granted 100% ownership rights. If the creators do not violate another entities’ existing copyright, their assets will be copyrighted to them.
In VoxEdit, one meter is the equivalent of 32x32x32 voxels. On the other hand, a playable character or a human will be 2 meters tall which equals to 64 voxels in height. In terms of usage, an asset will not be used in more than one land. The users will be required to purchase another asset to use in another land since assets being non-fungible can not be copied and represents unique tokens on blockchains. If we talk about the scarcity of the assets, they will be defined by the catalyst that will be responsible to upgrade your assets.
The price of the asset will be set by the creator. However, the platform demands a 5% fee to upload the asset on the marketplace. This means that if the price for any asset is set at 600 $SAND, the marketplace will list it for 625 $SAND. The 5% additional fee on transactions will be donated to the Foundation fund that will fund great artists, projects, and game designers within the metaverse.
The ultimate virtual fashion trendsetter is Fabricant. It is known for its avant-garde designs and high-profile partnerships with brands such as Puma, Buffalo London, and Iris Van Herpen. The Amsterdam-based digital fashion firm was one of the first in the industry to adopt blockchain technology.
Auroboros is not your normal online buying experience. Auroboros is a biomimicry fashion line that specializes in sci-fi-themed couture that is suited for the metaverse's fashion-forward users. Auroboros has created extraordinary items like Neuro necklaces, Nymph purses, and Venustrap gowns by combining science and technology with physical couture.
Last year, an NFT sneaker clothing firm made waves when it sold 608 pairs of NFT sneakers in only 6 minutes, netting more than $3 million at a time when non-fungible tokens were still gaining traction. RTFKT soon attracted the attention of big-name companies and was recently bought by none other than Nike, thanks to partnerships with Takashi Murakami, Jeff Staple, and Lexus. With the "MNLTH" drop, RTFKT Studios and Nike have just published their debut NFT, but customers can expect even greater ventures in the future.
Republiqe is the world's first digital luxury fast fashion company, generating one-of-a-kind items that challenge and redefine an entire category by interpreting and creating an amazing lifestyle. Last year, the business auctioned off a limited-edition customized pair of a matching puffer jacket and a dress launched in honor of World Health Day, and it has a computerized tailoring staff that helps consumers discover the correct fit for their purchases.
Among the numerous businesses who have collaborated with this invite-only virtual fashion, the marketplace is Karl Lagerfeld and McQ. It's no surprise that their NFTs have routinely sold out in a matter of minutes, given their pedigree. This marketplace will also allow fashionistas to shop for additional companies such as Tribute, RTFKT, and The Fabricant.
It's a place where digital fashion NFTs can have an authentic experience. To bring the digital fashion ecosystem together and foster it to provide new value, usefulness, and experiences for both fashion designers and consumers.
DressX is a marketplace that sells digital apparel made both in-house and in collaboration with reputable companies, with the motto "don't shop less, shop digital." It has teamed with the cryptocurrency marketplace Crypto.com to provide clients with limited-edition drops and special NFT products.
OPULENCE-X is a decentralized layer 2 marketplace that sells digital apparel in collaboration with established brands, and independent designers. Launching soon…
In the virtual environment of Decentraland, you may purchase and trade wearable NFTs. There are five distinct rarity categories you can choose from:
Mythic wearables are available in 10-piece editions, whereas Legendary, Epic, Swanky, and Uncommon wearables are available in 100-piece, 1,000-piece, 5,000-piece, and 10,000-piece editions, respectively. Your avatars are packed with a number of complimentary wearables when you join the Decentraland virtual world. However, you can find yourself hankering after rarer virtual things before long.
Watch Skins, an NFT marketplace where you can swap, adjust, and personalize your premium NFT brands, now sells wearable NFTs. Crypto Watches is the brand in question in this lawsuit.
The Watch Skin NFT wearables app uses NFTs in an unusual and new method to connect your linked watch and smartphone to the blockchain. Wearables and the Internet of Things are a new combination, therefore it's only logical for WatchSkins to start offering a number of customized interface sets.
Similarly, if you're a lover of online fashion, you can upload a photograph of yourself to Auroboros, a digital fashion firm, and have wearables added for ÂŁ60 to ÂŁ1,000.
It's much easier to get practically anything online and have it delivered right to your home. FaceTime, WhatsApp, and other comparable applications altered the notion of seeing and communicating with friends and family. There are several dating applications available. Many people have shifted from working in an office to working from home, interacting with others via a computer screen.
People have committed a significant portion of their life to the internet. The internet world is expected to grow even more appealing as time passes and technology advances. Companies have already said that they are developing an Oasis-style metaverse to persuade consumers to spend more time in the virtual world.
Virtual fashion, on the other hand, is just another natural product with a lot of buzz and demand in the contemporary day.
We are the LARGEST Decentralized Marketplace for Digital Fashion/Wearables, built on Layer 2 with 0 Gas Fees & Faster Scalability. Also, includes a social platform to fuel all avatars in metaverse, and gaming environments. Allows both established brands in streetwear, premium, skins + independent designers to create/sell and consumers to buy/trade/sell/earn with a NEW Wear 2 Earn (W2E) model.
Founder: Max Dhindsa, a visionary entrepreneur, who started his life from trading, collecting, and selling Pokémon and Yu Gi Oh cards in elementary school, to growing up and creating a partnered YouTube channel for gaming- reaching over 1,000,000 views, and then went off to build motivational quote profiles on Instagram, amassing over 33,000 followers, and E-Commerce brands with over $215,000 in sales. Has Been in Web3 since 17'.
Contact:
@realonemax — Twitter
@OpuIence_X — Twitter/Instagram