From Nike to Balenciaga, these brands are making their mark in the Metaverse
Remember when Facebook changed its name to Meta, and the world suddenly went crazy about NFTs and the digital realm? Here are the big luxury fashion brands that quickly took action, and settled into this new metaverse.
Since Facebook CEO Mark Zuckerberg renamed his company Meta, there has been increased interest and curiosity in the digital realm of non-fungible tokens or NFTs. Collectibles of digital art, lifelike avatars, their high-end accessories, their clothes and even their skin, NFTs are virtually one of the largest markets with a business potential in the billions. In fact, the NFT world has also seen the emergence of its first billionaires – the co-founders of the NFT OpenSea platform recently.
Plus, it’s no longer an area reserved for tech wizards and gamers. Luxury fashion brands have partnered with NFT developers or have launched their NFT collections themselves in the metaverse.
From jackets, hats, limited edition bags and jewelry, these signature items are available for you to get your hands on but only virtually.
(Main and featured image: courtesy Epic Games)
Here are some luxury fashion brands that are standing out in the metaverse
The Italian fashion house’s NFT experiment kicked off in May 2021 when Gucci unveiled its first NFT-related product. Interestingly, it wasn’t really about fashion for his centennial celebrations. It’s a four minute film, Aria, co-created by Gucci Creative Director Alessandro Michele and director Floria Sigismondi to accompany a show of the first.
As part of the “Proof of Sovereignty” sale hosted by Lady PheOnix, a digital artist, the film sold for $ 25,000 through the Christie’s art auction house. All proceeds from the sale would go to UNICEF USA for COVID-19 vaccination initiatives.
This is not the first time that Gucci has entered the metaverse. It had unveiled one of its first digital fashion product lines, and it wasn’t even considered an NFT.
A Gucci Roblox bag sold for 350,000 Robux or approximately $ 4,115. The same IRL handbag costs $ 3,400.
Remember: this Roblox handbag is not an NFT and therefore has no value / use / portability outside of the Roblox world, but it is worth more than the physical.
Watch this place. pic.twitter.com/m4WjfC1Eq1
– Alexis Ohanian 7️⃣7️⃣6️⃣ (@alexisohanian) May 24, 2021
The virtual version of the Gucci Dionysus bag was sold for $ 4,115 on the Roblox gaming platform, using 350,000 Robux currencies.
That’s not all. Robux currency is not a real cryptocurrency, which makes it invalid outside of the Roblox world. Likewise, since it is not an NFT, the virtual bag has zero value outside of the Roblox world. However, it is interesting to note that this virtual bag was priced higher than the product in the real world, starting at $ 3,400.
A fairly unique crossover of fashion and gaming, French fashion house Louis Vuitton (LV) celebrated its founder’s 200th birthday by launching a mobile game called LOUIS THE GAME August 4, 2021.
This is no ordinary mobile game. Integrated into 30 NFT, the game tells the story of the mascot of the fashion house Vivienne. The wooden doll, bearing the floral monogram of the LV brand, accomplishes several quests throughout Louis Vuitton’s long history.
Made in collaboration with artist NFT Beeple, the art collage was valued at an estimated $ 69.3 million. However, the NFTs used are only a part of the game’s collection and are not open for public sale.
This is not the first LV game to be produced. The fashion house debuted in the gaming arena in 2019, with the launch of Endless runner. Featuring 16-bit retro-style gameplay, the game was inspired by Virgil Abloh’s FW19 Runway collection.
Nike x RTFKT
Sneakers enthusiasts can try out the new pieces in the Nike line, but they cannot be worn in real life. Entering the virtual world of NFT, the sneaker giant acquired the digital sneaker brand RTKFT on December 14, 2021.
Founded in 2020, RTKFT was co-founded by Benoit Pagotto, Chris Le and Steven Vasilev and is dedicated to blurring the lines between sports, games and sportswear. In early 2021, RTFKT partnered with “Fewocious,” a popular crypto artist, and sold around 600 pairs of shoes, grossing US $ 3.1 million in under seven minutes.
RTKFT launched a virtual “trial” session of the sneakers on Snapchat, after which bidders could participate in the digital auction. The winners received the physical shoes, but the real coveted asset remains digital.
RTFKT is now part of the NIKE, Inc .. family ?? pic.twitter.com/5egNk9d8wA
– RTFKT Studios (@RTFKTstudios) December 13, 2021
Since RTKFT Studios announced their membership in the Nike Inc. family, its enthusiasm has grown exponentially. Many of their virtual shoes have strong similarities and are inspired by Nike signatures like Air Jordan 1 and Air Force 1.
“This acquisition is another step that accelerates Nike’s digital transformation and enables us to serve athletes and creators at the intersection of sport, creativity, games and culture,” said the president and chief executive officer of Nike management John Donahoe in a statement. “We are recruiting a very talented team of designers with an authentic and connected brand. Our plan is to invest in the RTFKT brand, serve and grow their innovative and creative community and expand Nike’s digital footprint and capabilities, ”the statement said.
The British luxury fashion house has collaborated with Mythical Games to launch its first NFT in the latter’s game titled Blankos Block Party. If you are an avid collector of real world toys, rest assured that you are hooked on this virtual world full of vinyl toys called Blankos.
#TheBSeries presents our collection NFT, Sharky B and accessories. Stylized with our #TBMonogram, the exclusive Burberry Blanko NFT vinyl toy will be available in limited quantities to collect in the Blankos Block Party game starting today 11 p.m. BST, 3 p.m. PST https://t.co/RhCv8gGvgp pic.twitter.com/nAcyc8QyNw
– Burberry (@Burberry) August 11, 2021
The multiplayer game allows players to buy and trade NFT toys and has several game modes and levels where they can have fun completing various quests and challenges. Burberry’s Limited Edition Limited-Quantity NFT in this Mythical Games gaming arena is called Shark B, which is a shark figure with the TB Summer logo on it.
The fashion house has also released a number of NFT accessories that can be purchased for Shark B and used on any other Blanko in this game.
According to a Squire report, the game was included in the “5 Best NFT MMO Games To Check In 2021” list.
Balenciaga x Fortnite
The first fashion brand to partner with online gaming Fortnite, Balenciaga has offered to sell four signature items from its collection to serve as skins and accessories for the game’s avatars.
The creative director of the luxury fashion brand, Demna Gvasalia, always has something new to offer and this time, blurring the lines between the physical and the digital, the Balenciaga model has been transformed into a digital avatar called ‘Doggo », Who wears Balenciaga outfits in the Fortnite arena.
It’s called fashion, look at this. @balenciaga
Read more: https://t.co/Oy6YI3bKoB pic.twitter.com/LEOOSM3ifS
– Fortnite (@FortniteGame) September 20, 2021
In addition, three more Fortnite avatars get a makeover Balenciaga – Banshee is seen in a tiger striped bodysuit; Ramirez wears a sequined top paired with a pair of ragged jeans; while Knight gets Balenciaga armor boots with a hoodie and shorts.
Users who make these extravagant Balenciaga purchases on Fortnite can submit photos of their avatars for inclusion on game plaza billboards as well as enter a Balenciaga store to perform a personalized dance. In real life, people can go to Madison Square Balenciaga store and purchase the Fortnite x Balenciaga collection.
Too expensive. ™
Imagine wearing a hoodie that can be scanned to reveal your own NFTs, that too on the go. Yes, it is no longer a futuristic concept to update. Fashion brand Overpriced. ™ has released a collection of these NFT hoodies, containing shopper exclusive codes.
Press Release: Overpriced. ™ Clothing Brand NFT Designer Auctiones First NFT Authenticated Hoodie at https://t.co/UCcZ6qU1ii https://t.co/88fn7NGPJI pic.twitter.com/YOiRQsqU5A
– Too expensive.NFT (@Surprix_NFT) April 13, 2021
But what if you lose the hoodie or someone steals that coveted asset? Do not worry. Reports suggest that Overpriced. ™ will give the buyer a new code and the old code will become invalid for the sale.
Ten of these tech hoodies were sold for $ 26,000 on the NFT Block Party marketplace platform in its first auction on April 13, 2021 and the remaining 25 were donated to influencers around the world. music and fashion industry.
Started by James Zwadlo and Chris Levett of Impossible Brief (the creative team behind Patrick Mahomes NFT), along with Leighton James (of the electronic music production duo Adventure Club), Overpriced. ™ aims to bridge the gap between technology and clothes.
This article first appeared on Lifestyle Asia India.