Accessories and Wearable NFTs: Game Changers in the Metaverse
Posted By : Priyansha Singh | 29-Apr-2022
Accessories and Wearable NFTs
As we are swiftly headed towards the period where NFTs are potentially getting mainstream, accessories and wearable NFTs are also making equivalent rounds. In the coming future, the metaverse will boast a myriad of wearables and accessories that will brim the virtual world with functionality and style.
For instance, the Ethereum blockchain, a gold chain, showcasing an NFT art on an iWatch encapsulated with diamonds was architected by a novice US jeweler, and it unconsciously became the stepping stone for such wearable NFTs to actually exist within the metaverse. Aside from core metaverse platforms such as Decentraland and OpenSea, some individuals and businesses have also developed their own NFT platforms for selling such accessories. These innovators and NFT enthusiasts are all set to traverse into the future metaverse with scalability and operational efficiency in the coming years.
In this blog, we will discuss what accessories and wearable NFTs are and how they will prove to be game-changers in the development and functioning of an expansive metaverse.
Wearable NFTs: An Introduction
Simply put, accessories and wearable NFTs are pieces of digital accessories or virtual clothing such as sunglasses, shoes, watches, dresses, or bags that people can use to dress up their 3D hyper-realistic avatars in the virtual world.
Such digital-only designs and items are made possible by leveraging the neoteric blockchain technology as well as smart contracts, which helps in proving the authenticity, uniqueness, and ownership of each digital asset, garment, or accessory in the metaverse. In essence, the technology aids in furnishing digital scarcity whilst facilitating an upside raft. Given the actual issue of counterfeiting in the physical world, NFTs have seen an immense rise in interest lately.
However, the surge of ‘blockchain style’ is swiftly expanding beyond the adoption and sale of individual wearable NFTs as more and more brands spurt their creative efforts into designing and constructing wardrobe collectibles that are made in collaboration with public figures and celebrities. Luxury global brands, in particular, have taken a detailed note of the digital couture potential which is expected to become a massive $56 billion market by the end of the year 2030. For instance, Louis Vuitton launched its own metaverse game last year where players could essentially collect NFTs. Moreover, other brands such as Burberry have pursued significant partnerships with metaverses such as Roblox and Blankos Block Party.
- Physical NFT Wearables
Aside from jewelry featuring digital art in the form of NFTs, other commodities such as keychains, t-shirts, shoes, and more inculcating digital NFTs are also being sold in the metaverse. Some of these employ high-resolution digital screens in order to display the artwork. For instance, Nike has physical sneakers embedded with blockchain so that the owners can seamlessly verify the authenticity and uniqueness of the shoes they own. There are even a lot of upcoming wristwatches that will show off NFT digital assets since small-scale LEDs have seen their implementations in smartwatches. In the metaverse, you can also verify the authenticity and ownership of your branded garments, accessories, and wearables such as rings, necklaces, and more.
- NFT Platform For Wearables & Accessories
Now, since we know that wearables and accessories can be sold as NFTs by either complementing physical products or as virtual products within the metaverse, a dedicated NFT marketplace or a metaverse platform is all that is needed. If you are planning to sell NFTs as proof of ownership in order to support physical products, you can either opt for a marketplace or add it as an option within your own website. Nevertheless, there is already a platform under development for incorporating NFTs into eCommerce, where clothing and accessories have been planned to be sold in the future.
Marketplaces and Brands For Wearable NFTs
Gaming is a tried and tested sector for fashion, wearables, and accessories. In order to enhance gaming experiences, players frequently purchase add-ons such as new superpowers, weapons, cosmetic upgrades, accessories, and ‘metaverse skins’ for their digital avatars. Game skins have already been projected to be a colossal $40 billion year-on-year market, underpinning the potential of wearable NFTs.
For instance, Fortnite already made $50 million alone from one set of NFT-branded game skins that were released last year. However, the metaverse is swiftly catching up with the speed of ultra-fashionable avatars popping up on the Sandbox and Decentraland, among various others.
Moreover, in this new virtual world where the Devil wears NFTs, even Vogue has dipped its toes into the expansive digital space innovations. The revered magazine enticed its customers and fashion lovers from all across the world when Vogue Singapore launched a series of covers, showcasing wearable NFTs for its September 2021 edition, solidifying the status and demand of virtual clothing as a trend that can not be missed.
Elsewhere, we are witnessing metaverses opting for collaborations and partnerships with renowned digital artists as noticed in the case of Sensorium Galaxy whose virtual 3D avatars were designed by an acclaimed 3D artist Jason Ebeyer, globally recognized for his glossy figures and appealing styles of artworks. Ebeyer’s vision has preeminently permeated through the style and fashion borne by the avatars of Sensorium Galaxy which can be fully customized by users by purchasing new accessories, clothing pieces, and cosmetic add-ons from a wide selection of options within the lookbook of Sensorium. At present, users can get a sneak peek of only a selected range of avatars through the Sensorium App.
What Makes Accessories and Wearable NFTs So Lucrative in the Metaverse?
At the end of the day, just like in the real world, users and metaverse participants whether in the art, media, or gaming industry, also seek to dress their avatars in the metaverse. Adorning a digital costume or a pair of NFT sneakers can ideally feel like a consolidated extension of their physical appearance and identities where they can reinvent themselves. However, here are some of the prominent reasons why the idea of wearable NFTs has gained massive popularity and momentum in the past few months.
- Gender and body inclusivity
- Endless creativity
- Availability and traceability
- Accessibility and transparency
- Waste reduction
- Possibilities to redeem
- Profound business and monetization models
- Guaranteed uniqueness and digital ownership
When it comes to wearable NFTs, clearly there are plenty of options that users, as well as their custom digital avatars, can flaunt across the virtual realms. Right from being an environmentally-conscious alternative and fast fashion to proof of ownership and encapsulating the endless creative possibilities extended by the metaverse, NFTs have incessantly become the next frontier of self-expression.
If you are looking for NFT development or metaverse NFT marketplace development services for wearables and accessories, feel free to drop us a line. Our experts will get back to you within 24 hours.