There is a growing number of NFT collectibles, from digital art that has a corresponding physical piece, to sports trading cards, and even clothing for avatars in games. Metaverse gaming has equally seen a surge in popularity, providing the perfect setting for many NFT enthusiasts to participate in digital worlds.
Digital worlds, or metaverses, may sound like something out of a Spielberg movie, however in crypto metaverses are simply(decentralized) digital spaces where users can access a number of ‘shared worlds’ which provide them with an immersive blockchain experience. Mark Zuckerberg once described the metaverse as an “embodied internet, where instead of just viewing content – you are in it.”
One of the most well-known blockchain worlds is Decentraland. A virtual land where users can buy and sell digital property, as well as participate in social games and applications. Decentraland has seen over $50 million in sales since its inception in 2015 (and launch in 2021) and is the first ever virtual land to run on the blockchain. Users can buy land, create avatars, and upload their NFT clothing (wearables) to the world.
As part of their creative approach to avatars, a new feature that Decentraland has introduced is the Wearables Editor that allows users to create their own fashion house. – Nico Santangelo, dApps Tech Lead of Decentraland Foundation commented:
“The new wearable editor allows anyone to put their own spin on their avatars and to share it with others. Plus, using Polygon, it’s easier (and cheaper!) than ever as transactions are confirmed almost instantly with almost negligible gas fees. We’re excited to see what the community comes up with”
The formation of a new market within the metaverse is attracting not only blockchain gaming enthusiasts and NFT collectors, but has also caught the attention of a number of global brands including NASA, Louis Vuitton and digital fashion company RTFKT.
Louis Vuitton entered both the gaming world and NFT market recently with their launch of a video game that includes artwork from the well-known NFT artist Mike ‘Beeple’ Winkelmann. The prestigious brand announced the launch of their game app “Louis: The Game” to celebrate the birthday of the founder Louis Vuitton.
Meanwhile Decentraland has used NASA branding for their clothing range, allowing users to transform their avatar into an astronaut.
Dolce & Gabbana is also expected to launch their much anticipated digital-only fashion brand this month in collaboration with luxury digital marketplace UNXD. The ‘Collezione Genesi’ (Genesis Collection) will showcase at upcoming fashion shows.
The merging of Gaming and NFTs has opened up a new market, one that is only in the beginning of its development. Nonetheless, mainstream fashion brands and global companies have already stepped into this arena, seeing the potential - and popularity, of the metaverse.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.