For almost a decade, the luxury brands are trying different approaches in terms of digital strategy. The lockdowns of 2020 and the boom in the video game industry accelerated the process of digitalization of commerce. Today, it is no longer a question, for Haute couture houses, to know whether or not they want to participate in these new digital experiences, but rather how they can adopt promising strategies for their collections. In this new universe, a theme emerges: that of NFT (Non-Fungible Token). So what can these assets bring to the customer experience? In this article, we tell you everything about the fusion of luxury with the virtual world !
What are NFTs?
THE NFT, these are encrypted digital files unique data that are stored on the blockchain, a digital storage technology. These files, which are bought and sold on the metaverse (a virtual universe) make it possible to guarantee authenticity and ownership of a product, virtual or not. They are also not interchangeable, which reinforces their power of authentication.
NFTs can make it possible to certify both a handbag “physical”, that is to say that we can hold in our hands, but also virtual props created by a brand and available on a metaverse. Louis Vuitton for example, launched a few months ago a virtual trunk in limited version and whose authenticity was attested by an NFT. Holders of these NFTs could also withdraw their trunk in physical version, and have access to other unique digital experiences thanks to this purchase.
Most NFTs in the world of luxury leather goods are currently associated with digital objects, thus creating a whole new dimension for the world of fashion.
How luxury has become integrated into the virtual world
In recent years, the metaverse has become essential. In this virtual world continuous, which users can access through different devices and platforms, a kind of “parallel life” is possible. For Generation Z in particular, expressing themselves in this virtual world is part of everyday life, and gives them the opportunity to demonstrate creativity and a imagination without limits. As with all societal evolution, brands are also reinventing themselves. In this new virtual world, Luxury homes have the opportunity to redefine their brand image in order to reach new audiences. After the muses on the catwalks, the avatars of digital platforms are the new representatives of big names in fashion !
Of the Gucci virtual storeson the Roblox video game platform to the online clothing collection of Balenciaga on Fortnite, Haute couture houses have understood the importance of being present in this market. Most of luxury virtual goods are distributed in limited quantities and users who purchase them receive an NFT as a reward. certificate of ownership virtual. A clever mix of fashion and technology, and a good way to bring generations together around their love for luxury pieces !
Why are high fashion houses interested in NFTs?
The interest of brands in NFTs is multiple. In addition to reaching a younger audience, these digital files also make it possible to major developments from a logistical and commercial point of view.
With the NFT, it is a whole new way of selling which is offered to the Maihigh fashion sounds. Indeed, for virtual products, there is no need to organize sales in a pop-up store, nor to deal with any excess stocks. Furthermore, since creation does not require any physical raw materials, brands can more easily fit into a sustainability process. The limitations imposed by the practical aspects of marketing are less and do not apply to the virtual world. Everyone wins !
The other obvious advantage is the possibility for Luxury homes to manage the question of authenticity differently. We mentioned it above: some NFTs are associated with physical products. In this case, they constitute strong certificates of authenticity. You have lost the certificate of origin sold with your sac Louis Vuitton ? NFTs will save you from this situation. Stored on blockchain digital technology, your certificate is tamper-proof, unique and traceable.
How do I access it?
So where can you buy NFT coins ? As you can see, this technology takes multiple forms! Some large Houses organize limited sales which take place on platforms managed by them. If you are a fan of video games, you also have the opportunity to access NFT features in the different existing digital universes.
However, according to some experts, it is better to have a little patience. Indeed, NFTs present a real investment potential, especially in the world of fashion. In the case of NFTs associated with physical coins, certain objects could increase in value over time. With the different collaborations and the different brand strategies, new NFT coins are expected to appear and increase the phenomenon. It is still difficult to know if this will continue, but it is a challenge that the Luxury homes look like they want to take it up! So, are you ready to embark on the virtual adventure?
At Vintega , no NFT on the horizon, but a secure and reliable process perfectly orchestrated. THE sacs vintage pampered and authenticated by our experts, just waiting for you to live real experiences!