More Fashion Brands Are Going To Launch Their NFTs in 2022

A number of well-known fashion brands have launched their own NFT designs. Essential tokens tied directly to brands and their consumers are more important than ever before, according to research by Bain & Company and online luxury fashion platform Farfetch.

Brands like Adidas, Dolce & Gabbana and others have already released their first NFTs, but the usefulness of nonfungible tokens turns out to be the real key to the success of the fashion brand.

According to Karinna Grant, co-CEO of the digital fashion marketplace The Dematerialized, nonfungible tokens in the fashion world should have special functionality, such as access to a private club or community, use in games or metaverses, or provide other ways for consumers to interact with a brand, and vice versa. 

For example, VaynerNFT President Avery Akkineni said his firm helped the Coach fashion house launch its NFT collection, which featured eight Coach Holiday animals from the Snow City digital game.

Akkineni added that the launch of the NFT was scheduled to coincide with the 80th anniversary of Coach, resulting in the creation of 80 NFTs featuring Coach’s eight holiday animals. Each of these NFTs also entitles original holders to receive one free bespoke physical bag in 2022.

The latest Bain & Company luxury goods report said “new keywords and phrases such as the metaverse, massive personalization, and the technology stack” will become more relevant, as the fashion industry grows and matures in the NFT world.

For example, pet apparel company Pet Krewe recently opened a digital commerce space in the Metaverse community known as ShibaVerse, where it promotes its brand through a dog balloon NFT called “Shibaluns”.

An 18-year-old fashion label Mishka created NFT with its famous eyeball logo. A collection of 6,696 NFTs, known as “The Keep Watch Crew” or “KWC” for short, grants exclusive access to MISHKAVERSE, granting lifetime discounts and access to exclusive merchandise.

The boost of popularity of NFTs in 2021 has demonstrated the advancement of major brands. While companies like Nike have already taken steps to enter the Metaverse, other labels will follow them.

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