Extending last week’s theme of fashion and identity over the technological space, we focus on NFTs this week. Wikipedia defines a non-fungible token as a “non-interchangeable unit of data stored on a blockchain, a form of digital ledger, that can be sold and traded” but it holds way more value than just its monetary value. NFTs have been the talk of the town lately and deservedly so. This dialogue, arguably, isn’t limited to just “Crypto Bros” though. Big names in fashion are embracing the NFT space with open arms and believe that it is the next evolutionary step in the game.
That said, fashion NFTs are not just a marketing tool for brands. They’re a medium for emerging digital artists to display and monetize their skills, while collaborating with said brands. They’re a tool to celebrate art, design and exploration through a digital platform. The fact that there’s low to no physicality or materiality involved allows endless possibilities in the digital fashion space. These new and improved outfits could change colour in real time, defy gravity or incorporate animations and transformations in a way real-life outfits can’t.
Fashion and Technology may not be childhood best friends, but they’re emerging into a found family trope. When you consider fashion you think of creativity, identity, wearing your truth, beauty, aesthetics, detail and being perceived a certain way. Meanwhile, Tech is all about optimisation, scalability and being futuristic. Fashion NFTs bridge that gap, incorporating elements of individuality and self-expression in spaces bigger and better than the real world or the devices in our hands. Concepts like the metaverse will soon be all-encompassing, and when they are, digital wearables will be the factor that sets us apart. Expressing ourselves in these AR, VR or Meta spaces will involve dressing our avatars up instead of our physical form.
These immersive formats will completely reimagine the fashion industry, especially for consumers. Immersing audiences in the things they love is the way to go. For example, VR Art Galleries or Fashion Showcases can allow artists, designers and consumers to interact in a different dimension, literally. These new immersive platforms almost feel like a fantasy world that is offering creators abundant freedom to realise even the most ridiculous of ideas. Creations can literally come alive.
The power of digital ownership in fashion is creating never-before-seen opportunities. Despite everything being in its early stages, we are blessed to be part of fashion history being created. It’s an era of what is called the “fashion gamers”, who are establishing a community interested in fashion and its digital aspects. Before we know it, one of these NFTs will turn out to be the future “Mona Lisa” of NFTs, displayed in a digital art museum.