Non-Fungible Tokens (NFTs) are a mainstream collectible in the cryptocurrency world, with implications far beyond the financial sphere. Although most current NFTs are limited to finance and gaming, they have potential applications in almost every other industry. Fashion is the best example.
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Which fashion brands have joined the NFT space?
Nike announced the acquisition of RTFKT in the fourth quarter of 2021, which is its first foray into the field of virtual sneakers. RTFKT works on sneaker designs and other NFT collectibles.
In the luxury sector, Dolce & Gabbana and Jimmy Choo unveiled their first NFT collections at New York Fashion Week 2021. D&G launched the Collezione Genesi, which includes 5 physical garments, while its collaborator UNXD created virtual objects for the Metaverse, and 4 garments in purely digital form.
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One of the biggest problems facing the fashion industry today is counterfeiting, with over $450 billion in counterfeit goods being produced each year. The Harvard Business Review reported in 2019 that as much as 70% of counterfeit luxury goods are included in the total global trade of US$4.5 trillion.
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Dolce & Gabanna launched fashion NFTs on the Polygon network, allowing gamers to purchase clothing and be able to use these items in a number of games, such as Decentraland.
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Digital fashion show
Blueberry Entertainment presents Metaverse Fashion Week on February 14 in the Second Life Metaverse virtual world. 40,000 people participated in an exhibition of digital wearable collectibles.
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Innovative reward and loyalty system
NFTs can have a unique ID, identified by users or customers. Sending rewards is as easy as sending USDT to your application.
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The future of NFT fashion
About AAX Academy
About AAX Academy
AAX serves trading users, innovators, NFT artists, high-net-worth investors and users without bank accounts around the world. With the mission of realizing the practical application of digital assets, AAX is committed to making stable currency benefit everyone.
AAX Academy is a user education channel created by AAX, which aims to help more users learn novice tutorials and understand the basics of blockchain.
AAX serves trading users, innovators, NFT artists, high-net-worth investors and users without bank accounts around the world. With the mission of realizing the practical application of digital assets, AAX is committed to making stable currency benefit everyone.
