Intellectual property

The fact that asset owners like CryptoPunks from Yuga Labs and Bored Ape Yacht Club and the like also own the intellectual property rights means they can trade such assets. This allowed Tiffany & Co to create bespoke bejeweled NFTiff pendants for individual CryptoPunk owners to have their own punks as bespoke physical pendants with additional NFTs that can be traded separately from the physical version. Following the announcement in July and the NFT versions being minted, views of the pendants themselves started pouring in this month.

FYI, the original price paid by owners was ETH30 (c. $50k) and NFT versions are now trading on OpenSea for between ETH40 and ETH50. Alexandre Arnault, Tiffany & Co’s executive vice president of products and communications, recently asked his Twitter followers if Tiffany & Co should work on another crypto project, hinting that a follow-up is likely in the cards. Does anyone have a Bored Ape Yacht Club Tiffany jeweled earring?

PFP wearables get real

In November, adidas Originals launched a new category of Virtual Gear digital merchandise along with a PFP outfitting tool that allows PFP avatars from compatible partner collections to wear it, first Bored Ape Yacht Club, Mutant Ape Yacht Club. While it was previously possible to ‘engrave’ virtual clothing into a PFP as a permanent addition, the real game changer is that the new tool will allow users to swap out their PFP’s outfits just like they can with regular avatars like Ready Player Me. .

artist royalties

This month, Warner Music Group partnered with digital fashion retailer DRESSX to provide a platform for its artists to design their own virtual fashion lines on Instagram, Snapchat and more. IRL celebrity fashion collaborations are already a lucrative business and this year, the dial has already started to move into metaverse territory. Supermodel Kate Moss, formerly known for collaborating with Topshop, appeared as a guest avatar in Lucy Yeomans, the Drest interactive styling game, joining forces with jewelry brand Messika.

CRM and Anti-counterfeiting

If digital fashion leaves you cold, digital twins can do much more than just dress up your avatar. Swiss foundation Origyn creates blockchain-based digital certificates for luxury watches, photographing the watch in 360 degrees to generate its biometric passport. Guarantees are also built into the certificate. The Web3 Mintouge plugin, co-founded by a former Meta employee, enables brands to provide customer service after the sale, digitize physical assets, and communicate via the digital twin of a product stored in a partner app that combines custodial wallet with social network and private members club.

The business of beauty

Just as digital fashion wearables have become more interoperable, the same is true of makeup. In June, Clinique allowed digital makeup looks to be recorded on PFPs from the Non Fungible People community, but fast-forward to November, when L’Oréal partnered with cross-gaming avatar platform Ready Player Me with Maybelline New York and L’Oréal Professional hair and makeup. that can be changed as easily as a digital t-shirt.

Marketing in the metaverse

To celebrate the FIFA World Cup, official timekeeper Hublot built a stadium in the photorealistic metaverse of space with a media wall displaying images from the campaign with friends and ambassadors like French international striker Kylian Mbappé. Activation shows how brand marketing campaigns can introduce an additional metaverse dimension beyond traditional advertising.

Future proof fashion

Brands are preserving their physical heritage by introducing it to a new generation of web3 natives. During Metaverse Fashion Week in March, Paco Rabanne showcased 12 NFT dresses and the proceeds were used to buy back pieces from his own physical archive. Gucci’s recent in-game pop-up in The Sandbox featured activities like restoring a vintage Gucci bag, while the CFDA is currently hosting a 60th anniversary gaming exhibit, also in The Sandbox, featuring looks from Dapper Dan to Marc Jacobs. reimagined using the voxelized language of The Sandbox. MNTGE, Web3’s vintage wearable brand, is recreating garments from adidas collaborator Sean Wotherspoon’s archive for artists to digitally personalize.

let’s get physical

If web3 is to reach the market size of $81.5 million projected by 2030, mass adoption is the name of the game, which means onboarding the non-digital native population. Enter initiatives like the Paris NFT Factory which launched in October with an exhibition of NFT art and web3 training courses, and physical pop-ups like the activation of Printemps with DressX. Philipp Plein was an early adopter in April with a London flagship featuring an NFT art gallery and a metaverse information hub with tutorials on setting up a digital wallet and navigating the buying process for NFTs and digital fashion. .

Mark your diaries for Metaverse Fashion Week 2 in March.

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