NFTs that allow you to wear-to-earn are aimed at the fashion industry worth billions of dollars

Here are some ways “wear-to earn” NFTs could impact the fashion industry and what might happen if they become a fashion trend.
The rise of Web 3.0 and Metaverse are set to disrupt many sectors, including the billion-dollar global fashion business. As the world shifts from physical to digital, traditional fashion design will be transformed into virtual wearables that can both be used in augmented reality (AR), and in real-life. Megan Kaspar is the managing director of Magnetic Capital and a member of Red DAO, a fashion-focused, decentralized autonomous organization. She told Cointelegraph that she believes digital fashion nonfungible tokens (or NFTs) will be the largest category of NFTs on Web 3.0. “Digital fashion NFTs are clothing, shoes and accessories that can be worn virtually or within gaming environments. These digital wearables can be used to make speculative investments and collect, to dress avatars in decentralized game environments, to wear in augmented realities environments, and to superimpose onto photos and videos. Kaspar explained that wearable fashion will become more interactive in the next two-years. Kaspar demonstrated recently how virtual NFT earnings can be used to purchase accessories and other accessories during video interviews. A wear-to-earn model is entering the fashion industry. Kaspar also stated that a “wear to earnn” model will thrive within AR environments. He noted that brands, designers, and retailers will all create clothes that can be used in digital closets. Kaspar stated that designers will pay customers to wear their virtual products in order to establish long-lasting relationships with consumers. “Brands will compensate customers by giving them exclusive items, airdropping fashion pieces into their virtual wallets, or paying them in the form a fungible token.” Dolce & Gabbana, an Italian luxury fashion house, will soon launch “D&G Family,” a community-based NFT drop on the UNXD curated market. She stated that this will allow consumers to access exclusive physical apparel only through the drop. Dolce & Gabbana’s “Collezione Genesi”, a NFT collection, recently launched to highlight the power of metaverse wearables. Related: Luxury fashion brands launch NFT collections as culture converges with Blockchain. Kaspar expects UNXD to be the first platform to offer wearable-to-earn features. However, other NFT ecosystems are already adopting the concept. Davaproject, a NFT project by Unopnd, is currently developing a system that allows avatar NFTs to reflect changes in different combinations on a blockchain network. According to a recent announcement, the initial project will consist of 10,000 avatar NFTs called “Dava” and will be minted in 30,000 wearable items. Davaproject will determine the rarity of each wearable and display different rankings across a user dashboard. Wearing these items will give owners access to community events, NFT airdrops and giveaways, as well as new item drops. Norman Tan, Vogue Singapore’s editor-in-chief, stated to Cointelegraph that he is optimistic about digital fashion, given the rise of virtual wearables. Tan published Vogue Singapore’s September Issue, which featured the theme of “New Beginnings”. The September issue also featured a unique cover that included a QR code, which served as a portal to two exclusive digital-only NFT covers. Tan stated that Vogue Singapore has always been a center of innovation and fashion. We decided to take the bold step of exploring the metaverse with our September issue theme of “New Beginnings” Tan said that digital fashion will disrupt the Metaverse and help solve sustainability issues through the introduction of a post-waste economy. Kaspar estimates that 40% of western wardrobes are unworn. Digital clothes can be used as an eco-friendly alternative to physical items. Source: Vogue SingaporeAdditionally, virtual fashion shows are proving to be more sustainable and accessible. NFT Runway, a company that democratizes fashion by enabling brands and retailers to deploy in sustainable ways, will host a virtual fashion show from Dec. 3-5 at “Fashion Community Week San Francisco.” It will feature NFT versions of physical items created using the patented 3DREALTM technology. The audience can “hop on” the runway and view each item, while rotating their avatar around to see the clothing from different angles. Oh Tepmongkol, chief operational officer of Ohzone, Inc, explained to Cointelegraph that NFTs are tokens that act as certificates of authenticity and can add a lot more utility to any clothing item. This could allow you to unlock a digital version of the item, or give you access to the designer’s online community. NFTs are also easy to include as they can be integrated through a small QR code for any piece of apparel.” Tepmongkol said that NFT wearables make it easy to donate money to charities. NFT Runway’s digital fashion showcase will include an auction that will benefit non-profit organizations. Tepmongkol explained that smart contracts on the Blockchain allow NFT Runway the ability to create “NFT endowments.” Kaspar believes that wear-to earn will eventually surpass play-toearn. Play-to-earn was the most searched term in the blockchain ecosystem after the release of Axie Infinity. Kaspar explained that wear-to earnn will appeal more to the general public, particularly women, than gamers. Kaspar, for instance, mentioned that digital wallets will soon look like virtual closets. This feature will attract many new users into the blockchain space. “Many companies have been working on interoperable digital closets that you can move NFTs in or out of. Tan said that although the idea was innovative, it is not the only reason for digital fashion’s rise. “Fortnite and other online gaming platforms created a new economy. Brands like Balenciaga saw the opportunity to reach these users digitally-natively. This, along with the advent COVID-19, saw more people go online and explore how they can interact and express themselves digitally. Sebastian Borget, cofounder and chief operating officer at The Sandbox, explained to Cointelegraph that wear-to earn NFTs are geared towards players and other socializers. He said that The Sandbox will soon include wear-to-earn NFTs in many of its games. “Having wearables that reward users based upon engagement is an interesting model — the more time that you spend using the avatar, and the more players can earn,” Temongkol shared.

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