NFTs Will Play a Key Role for Fashion Industry In The Metaverse

The Uniqueness of NFTs

NFTs are distinct from usual crypto because of the special feature they own. Its uniqueness lies in fungibility. However, contrary to fungible tokens like Dogecoin, an NFT cannot be exchanged for another NFT. This is because they are non-fungible. For this reason, the Metaverse will provide designers the chance to show off their NFTs. Additionally, they will have the ability to build exclusive communities that have unique access to new NFT collections like those from Dolce & Gabbana and other luxury brands. In relation, the Italian luxury fashion firm Collezione Genesi sold a nine-piece collection of fashion NFTs for $6 million in October 2021. In light of gaming’s key role in the Metaverse, Dhami concluded that there might be a working synergy between the fashion industry and game developers. As a result, they may work together to produce new skins for players.



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