How NFTs and the Metaverse can keep fashion luxurious

cointelegraph.com:

It’s no secret that the fashion industry has started to explore the cryptoverse, with brands like Dolce & Gabbana, Gucci, Philipp Plein and Tiffany & Co. taking their own path down the metaverse runway. 

Decentraland’s Metaverse Fashion Week hinted at a new wave of fashion, while Philipp Plein brought the metaverse and nonfungible tokens (NFTs) right into his London shop. The innovative technology mixed with the ever-changing fashion world was an inevitable pair, but there is always room for more.

Even during its inception, the promise of the metaverse has convinced people to pay millions for land in the virtual worlds — so, why not fashion? The fashion industry is always looking for new ways to innovate and create new traditions.

While the metaverse removes the tangible aspect that captivates many in the fashion industry, it is a new way to experience wearing and using beautiful pieces digitally on a personal avatar. Lokesh Rao, CEO of Trace Network Labs, previously told Cointelegraph that “a digital avatar can wear any garment without any constraints of type, design, fabric and use.”

As many know, however, the fashion industry remains one of the most exclusive industries in the world. With Chanel’s bag quota or purchase criteria and the long waiting list to get a Hermès Birkin or Kelly, a lot of the influence in the fashion industry comes from exclusivity, price, outfits and, in many cases, who one knows.

And as many fashion enthusiasts understand, there is nothing like opening the box of a long-coveted piece and holding, wearing and loving it for the first time. The idea of luxury is a melange of both exclusivity and passion. Why should fashion in the metaverse be any different?

While prominent brands value their