NFTs and the Future of Fashion and Streetwear

•

In today's thread on NFTs and web3, I wanted to explore another intersection of my passions: fashion/streetwear and how it will be disrupted by NFTs. We will also explore a couple of projects and what they're doing in the space. Let's dig in in the 🧵 👇

Digital Fashion: NFTs are used to create and sell digital fashion items, such as virtual clothes or accessories. This allows individuals to own & trade virtual items in the same way that they currently trade physical ones & limits production footprint of trad fashion runs.

Authenticity Verification: NFTs could be used to verify the authenticity of physical fashion and streetwear items. For example, a designer could issue an NFT with each physical item they sell, allowing buyers to easily verify the authenticity of their purchase.

Gamification and Digital Engagement: Some brands have linked NFTs to physical products that unlock extra "features" of that physical product in the digital world such as move-to-earn games, AR creator content filters, reward and loyalty points, etc.

Collaborative Fashion Design: NFTs can be used to facilitate collaborative design by allowing the community to contribute to the creation of a single fashion item or a whole season of products. This enables more decentralized and democratic approaches to creating products.

Limited Edition and Premium Drops: Brands can create NFTs of limited edition releases of fashion and streetwear items. This could potentially increase the perceived value and exclusivity of these items, leading to increased demand and potentially higher prices.

Resale Market: NFTs are going to be used to create a more efficient and transparent resale market for fashion and streetwear items. This will disrupt traditional resale marketplaces by providing a more transparent & verifiable way to buy and sell secondhand fashion items.

Decentralized marketplaces: Web3 technologies, particularly blockchain, could be used to create decentralized marketplaces for fashion and streetwear. This would allow individuals to buy and sell products directly with one another, cutting out trad retailers and wholesalers.

Supply Chain Traceability: Blockchain can be used to create a transparent & traceable supply chain for fashion & streetwear. This would allow consumers to see where their products came from & how they were made, potentially increasing trust in the brands they buy from.

Personalize Marketing and Fashion Recs: As we discussed in yesterday's 🧵, wallets are the new cookies. Being able to target in real-time, marketing automation based on a wallets buying behavior & activity on the blockchain, while preserving privacy that's a powerful tool.

There will ultimately be other ways in which fashion & streetwear will be disrupted by web3 & NFT tech. Comment👇 w/ your thoughts on other ways fashion will change! But for now I wanted to explore projects that are helping change the landscape of fashion with web3 & NFTs.

Shout out to @stapleverse who is launching SAPIENZ this year: a. Dynamic PFPs you can equip with items and new fitz from their partner brand drops that also unlock collaboration opps b. Token-bound vaults that will house all your gear increasing value of NFTs w/ drops

The team @Deadfellaz has been doing a fantastic job bringing web2 brands into web3 with collabs like Wranglers. a. Example of using NFT IP and brand power in new licensing agreements b. Collaborative community storytelling & decision-making in the rollout marketing campaign

@RTFKT a. The gamification section above is basically a page out of their playbook launching "world merging" tech that pairs streetwear drops (hoodies, shoes, etc) with move-to-earn and other augmented experiences. b. Positioning as a premium or luxury brand w/ their collabs

@doodles a. Yet to be seen but the best guess is Doodles 2 will be web3 identities "for the people" if you will and aim for mainstream adoption of some of these technologies. b. Dynamic PFPs with more of a focus on the changeable features & brands than the core PFP itself.

Well that's it for today! If you liked this 🧵 and want to see similar content, give my account @ryancsmith2222 a follow, like & retweet this 🧵, and stay tuned!