Next Phase of Digital Fashion: Web3

The birth of Web3 came from the invention of blockchain. The rise of blockchain created three promising technologies NFTs, decentralized autonomous organizations, and the metaverse. The fashion industry has also adapted to the coming changes. From using metaverse to show fashion shows virtually to using augmented reality to bring retail experience to the home.

The fashion brand RTFKT sold a digital jacket for 125,000 dollars in 2021. This highlights the scalability of NFTs for the fashion industry. Furthermore, Web3 helped designers to take their careers into their own hands. Independent designers can earn a significant amount of money through digital game skins and creating NFTs.

Web3 also paved the way for digital-only fashion houses. For example, The Fabricant has become one of the biggest digital-only fashion houses in the industry, attracting metaverse and blockchain fans. Independent designers can also find aid from DAO Digitalax, a Web3 fashion ecosystem targeted toward independent fashion designers trying to enter Web3. Metafactory is another DAO focused on launching community-owned fashion brands.

Web2 era was dominated by blogs and social media influencers, fashion was further democratized. Fashion shows started streaming on the internet and street style blogs evolved into a staple of the fashion industry. The metaverse will further democratize the fashion industry. Expensive brands are using the metaverse as a playground for current fashion trends.

Digital products are beneficial for physical products. Digital products transformed into physical has a longer use cycle. Customers are also less inclined to return the product. Big-name players, including Kering, LVMH, and Richemont, have all hopped on the train of virtual reality showrooms and tradeshows.

Buyers and fashion enthusiasts need to travel less to watch tradeshows if they can view them virtually. Web3 has huge potential for the fashion industry. As brands try to maintain ownership of their products and appeal to the next generation of consumers, digital fashion only stands to evolve. Web3 stands to be the next big thing in fashion, and the fashion metaverse only stands to expand.