Non-fungible tokens (NFTs) based on the blockchain technology has recently got skyrocketed attention during the past one and a half year especially during the pandemic. Blockchain based tokens possess characteristics like ownership, transparency, authenticity, and scarcity. The speculative aspect of this concept has resulted into the jaw-dropping sales of digital assets in exchange of cryptocurrency. Multiple platforms like OpenSea, Rarible and Nifty gateway have made it quite accessible to mint, buy and sell NFTs. Non-fungible tokens include art, music, collectibles, virtual fashion, in-game items, and memes etc. Several real-life examples have been studied to enlighten the importance of NFT in different sectors. Following the trend, fashion luxury industries have also jumped into this crypto circle. This has been a win-win situation for brands as well as end-users. Luxury brands have expressed themselves in this creative digital market and have extended their business domain by collaborating with other entities to attract the tech enthusiasts. With this collaboration, fashion luxury brands i-e Gucci, Louis Vuitton, D&G and Burberry etc. has been able to penetrate into art, gaming sector and virtual fashion etc. Exemplary initiatives by the brands include launch of digital clothing in the gaming space, new iconic characters, virtual sneakers, 3D art galleries and other distinctive items. Therefore, NFTs have been source of exclusivity, ownership resulting into the brand loyalty. Due to the extensive use of social media, luxury brands have brought forth the opportunity of virtual shopping where customers can buy the garments, take photo, and post it on their profiles without any urge to purchase it physically. Fashion luxury NFTs contribute to the sustainable development in terms of ethical production which cuts down the use of natural resources. No wonder, it’s the time for luxury fashion industry to be ready for the metaverse-based future by bringing this innovative concept to life.
I token non fungibili (NFT) basati sulla tecnologia blockchain hanno recentemente ottenuto un'attenzione alle stelle durante l'ultimo anno e mezzo, specialmente durante la pandemia. I token basati su blockchain possiedono caratteristiche come proprietà, trasparenza, autenticità e scarsità. L'aspetto speculativo di questo concetto ha portato alle vendite a capogiro di beni digitali in cambio di criptovalute. Molteplici piattaforme come OpenSea, Rarible e Nifty gateway hanno reso abbastanza accessibile la coniazione, l'acquisto e la vendita di NFT. I token non fungibili includono arte, musica, oggetti da collezione, moda virtuale, oggetti in-game e meme ecc. Diversi esempi di vita reale sono stati studiati per illuminare l'importanza dei NFT in diversi settori. Seguendo la tendenza, anche le industrie del lusso della moda sono saltate nel cerchio delle criptovalute. Questa è stata una situazione vantaggiosa sia per i marchi che per gli utenti finali. I marchi di lusso si sono espressi in questo mercato digitale creativo e hanno esteso il loro dominio commerciale collaborando con altre entità per attirare gli appassionati di tecnologia. Con questa collaborazione, i marchi di lusso della moda, cioè Gucci, Louis Vuitton, D&G e Burberry ecc. sono stati in grado di penetrare nell'arte, nel settore dei giochi e nella moda virtuale ecc. Le iniziative esemplari dei marchi includono il lancio di abbigliamento digitale nello spazio di gioco, nuovi personaggi iconici, scarpe da ginnastica virtuali, gallerie d'arte 3D e altri articoli distintivi. Pertanto, le NFT sono state fonte di esclusività, di proprietà e di conseguente fedeltà al marchio. A causa dell'ampio uso dei social media, i marchi di lusso hanno portato avanti l'opportunità dello shopping virtuale in cui i clienti possono comprare i capi, scattare foto e postarle sui loro profili senza alcun bisogno di acquistarli fisicamente. La moda di lusso NFT contribuisce allo sviluppo sostenibile in termini di produzione etica che riduce l'uso di risorse naturali. Non c'è da stupirsi, è il momento per l'industria della moda di lusso di essere pronta per il futuro basato sul metaverso portando questo concetto innovativo alla vita.
Application of non-fungible tokens (NFTs) and the intersection with fashion luxury industry
Umer, Sheikh Muhammad;Kishan, Vishwas
2020/2021
Abstract
Non-fungible tokens (NFTs) based on the blockchain technology has recently got skyrocketed attention during the past one and a half year especially during the pandemic. Blockchain based tokens possess characteristics like ownership, transparency, authenticity, and scarcity. The speculative aspect of this concept has resulted into the jaw-dropping sales of digital assets in exchange of cryptocurrency. Multiple platforms like OpenSea, Rarible and Nifty gateway have made it quite accessible to mint, buy and sell NFTs. Non-fungible tokens include art, music, collectibles, virtual fashion, in-game items, and memes etc. Several real-life examples have been studied to enlighten the importance of NFT in different sectors. Following the trend, fashion luxury industries have also jumped into this crypto circle. This has been a win-win situation for brands as well as end-users. Luxury brands have expressed themselves in this creative digital market and have extended their business domain by collaborating with other entities to attract the tech enthusiasts. With this collaboration, fashion luxury brands i-e Gucci, Louis Vuitton, D&G and Burberry etc. has been able to penetrate into art, gaming sector and virtual fashion etc. Exemplary initiatives by the brands include launch of digital clothing in the gaming space, new iconic characters, virtual sneakers, 3D art galleries and other distinctive items. Therefore, NFTs have been source of exclusivity, ownership resulting into the brand loyalty. Due to the extensive use of social media, luxury brands have brought forth the opportunity of virtual shopping where customers can buy the garments, take photo, and post it on their profiles without any urge to purchase it physically. Fashion luxury NFTs contribute to the sustainable development in terms of ethical production which cuts down the use of natural resources. No wonder, it’s the time for luxury fashion industry to be ready for the metaverse-based future by bringing this innovative concept to life.| File | Dimensione | Formato | |
|---|---|---|---|
|
2021_12_Umer_Kishan.pdf
accessibile in internet per tutti
Descrizione: Application of non-fungible tokens (NFTs) and the intersection with fashion luxury industry
Dimensione
3.06 MB
Formato
Adobe PDF
|
3.06 MB | Adobe PDF | Visualizza/Apri |
I documenti in POLITesi sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
https://hdl.handle.net/10589/182823