How Clothing brands are using NFTs to Make Money - Who Needs Clothes
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28 Dec How Clothing brands are using NFTs to Make Money

Posted at 12:47h in Reviews by
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There has been a compounding interest in NFT or digital art from clothing/fashion brands. Many well branded companies are investing capitol and labour hours into NFT projects. These projects involve digital art that can be purchased for use within augmented reality (video game sandbox environments) like the Metaverse. According to Morgan Stanley this market for digital fashion can be worth $50 billion dollars by the year 2030. That means that customers could potentially spend $50 billion dollars on NFT fashion that is used mostly for augmented reality usage. If Clothing brands capitalize on the potential market with NFT fashion it could bring in extra revenue without having to produce physical products.

Credit: Bloomingdales/Emperia

This growing demand for digital fashion that will be used within the Metaverse, seems to be working off of the idea of in-game “skins” that are normally used in games like ‘Fortnite’ or ‘Halo Infinite’. Based on my personal experience, If you pay for exclusive skins within the video game environment, it makes the in game experience more interesting. The market for these NFTs within the metaverse could have a sizable amount of potential for clothing brands that decide to invest in NFT fashion sales. If companies can come up with an effective strategy to create digital designs then sell them for use within the metaverse it could become an easy way to make some profit. People are going to pay their hard earned money to own a digital piece of “art” that can be made with 14 lines of code. Why wouldn’t these Clothing companies capitalize on that opportunity.



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