t New York Fashion Week this fall, a two-day show will feature models wearing clothes designed for the virtual world. Nolcha Shows put on the event, and it's an exciting new way to see fashion IRL!
For 14 seasons, Nolcha Shows has been vigorously showcasing events. Nonetheless, this year's edition will include native brands and a panel discussion on Web3's impact on the industry's future.
What does the future of fashion look like? Recent developments in this industry giants' race to be at their innovative edges show that it's not just about physical stores anymore. Crypto payments and blockchain technology continue making waves, with higher powers joining forces for NFT involvement across multiple platforms, including Balenciaga.
Other major brands, such as Hermes and Phillipp Plein, are also adopting Web3 integration strategies. In contrast, others still have not yet announced anything concrete, but you can bet there will be more announcements ahead on your bottom dollar.
The decentralized space is home to some of the most innovative brands on earth, but it looks like they're turning back in favor of more traditional marketing tactics.
The rise and fall can be attributed largely due its intense rivalry with Silicon Valley's tech giants; however, now, even those who were once ahead are beginning their turn around again by exploring opportunities within real-life events such as conferences or industry expositions.
The ChainGuardians brand is one of the brands taking to the NYFW runway. They lean heavily on its trending term "phygital," which describes assets that combine aspects of physical reality with digital ones to create new experiences for consumers through these mediums.
NFT wearables, for example, are those that can be used in the Metaverse but also have a physical counterpart. According to Mandel, phygital products will be one of the most convincing Web3 integrations into the fashion world.
"Phygital products which will blur realities and allow people to form multiple individual identities in both worlds — virtual and real," told Arthur Mandel, co-founder of Nolcha Shows.
He also emphasized that such products have the potential to assist brands in lowering their costs for physical goods and retail services.
On March 23-27, the industry hosted its first-ever metaverse fashion week in Decentraland. Mandel, on the other hand, believes that for brands native to these digital spaces, participating in IRL events advance the principles of accessibility and community:
"The reason web3 native brands prefer IRL events is to lower the adaptation threshold." In-person events are currently the entry point and meaningful access to larger crowds."
According to the industry expert, while Web3 adds another dimension to in-person events, it is not a complete replacement. "Phygital is reciprocal and cyclical." It's about developing in-person products and experiences that blur the distinction between real life and virtual reality."
Currently, Mandel describes the space as "tech jargon that people don't understand and actually fear, so prefer to ignore." He believes that the influx of legacy brand names joining the space and native brands venturing out into physical reality will support breaking down these barriers.
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