Fashion’s rapid transition to the digital world has been rapid over the last few years. The industry was proud to host the first ever Metaverse Fashion Week earlier this year. Designers have also embraced the Web 3.0 transition in order to show their IRL collections. Digital clothing is poised to be just another piece of our ever-evolving wardrobe, thanks to the rapidly-growing gaming and metaverse communities.
Simone Berry, 5Crypto’s chief strategist and innovation Director, says that she believes the company is at a unique point of growth and transformation. “People are realizing that clothing doesn’t need to be physically valuable to be valued.”
There are many ways that people can interact with fashion online via digital clothing platforms, such as buying wearables or investing in non-fungible tokens. DressX is an example of a digital clothing marketplace that allows users to buy clothing that can be superimposed on real-life photos. Or The Fabricant, where anyone interested in NFTs can make and buy them using cryptocurrency. No matter how you do it, you are not the only one who wants to purchase digital fashion. According to a recent study called “The Screenwear Paper”, Vice Insights and Virtue (Refinery29’s in-house insights and creative agencies), 95% of respondents said they are interested buying digital fashion.
Berry answers a few key questions before you start building your Web 3.0 wardrobe.
What is digital fashion?
Berry says digital fashion is still being developed. Berry says that digital fashion is still in development. There are two types of digital wearables: clothes an avatar can wear within a game or metaverse platform. Fashion NFTs are limited collectibles that are purchased through cryptocurrency. You can also buy digital clothes that can be superimposed on real-life photos.
Berry claims that these options aren’t available in real life, but Berry believes it is one of the major draws for people. Let’s face it, we all do this. She says that most people wear clothes to flex these days. Technology allows you to still wear it and still have the ability to flex.
Digital fashion is known for being more daring than real-life clothes. Designers are often limited by physical limitations and have to keep their creativity within a set limit when creating IRL. It’s quite different when clothes are created digitally. Berry says, “I feel it’s more futuristic.” It’s a fantasy, and designers are naturally drawn to it.”
How do I buy digital fashion?
When it comes to purchasing digital fashion, there are two types: “on chain” and “off-chain.” Berry states that for “on-chain”, transactions, users must open a cryptocurrency wallet within the platform. This will allow the clothing to become a digital asset. Users can use a regular credit card to pay for “off-chain” transactions.
Berry says, “The Web3 Community all agreed that it’s going be a longer educational map before everybody is going to ready to adopt it.”
Where can I buy digital fashion?
One of the most effective ways to get involved in digital fashion is through marketplaces. Zero10 is a digital clothing marketplace that allows you to try on clothes and make purchases. You can also use the items to create social media content. DressX allows you to upload photos of the clothing you buy to have them imprinted. Others, such as The Dematerialised are focused on selling fashion NFTs. These are stored in your digital wallet and can be traced back to you.
These platforms offer a variety of clothing, including digital-first houses like The Fabricant or Auroboros as well as NFTs made by IRL-first designers such Rebbeca Minkoff or Jonathan Simkhai. Berry states that Web3’s greatest asset is its ability to foster collaboration. It’s more than just selling products. It’s about creating something that benefits your community.
What Does Digital Fashion Cost?
According to Berry, digital fashion’s affordability is one of its most appealing features. Many of the first digital fashion drops were sold off at auction for thousands of dollars. The Fabricant’s first drop was over $9,000, but digital fashion is now more affordable. Berry points out that consumers need to consider affordability in this market in two categories: digital wearables and fashion NFTs. She says, “If it is an NFT and it’s unique, it may be more costly.”
Digital wearables are more affordable. DressX sells T-shirts for $14 and pants $20. Replicant sells the same items for $6. There are many options available for you to add couture-level drama and glamour to your digital wardrobe. Tribute Brand is a digital-first couture house offering limited-edition drops. It has sci-fi, voluminous dresses starting at $150.
Although digital clothing is still very young, Berry claims that there are many exciting developments in the space that will allow consumers interact with fashion in ways that go beyond just wearability. “We are trying new things.” She says, “Nothing is set.”