While the majority of customers are in their 20s and 30s, some are as young as 15. The company has posted $7 million of sales, with limited edition sneakers selling in auctions for $10,000-$60,000, he said.
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"It really took off when COVID started and loads of people went more online," said Steven Vasilev, RTFKT’s co-founder and CEO. Virtual sneaker company RTFKT sells limited edition NFTs representing sneakers which can be "worn" in some virtual worlds or on social media via a Snapchat filter. The industry simply cannot continue," said Sello. "We need to have the shift now in fashion. Sello argued that the virtual garment concept could limit the waste of consumers buying clothes to wear on social media, citing a 2018 Barclaycard study which found 9% of British shoppers have bought clothes for social media photos, then returned them. "Instead of scrolling through a feed and shopping online, you can have a more immersive brand experience by exploring a virtual space - whether you are shopping for your online avatar or buying physical products that can be shipped to your door," said Julia Schwartz, director of Republic Realm, a $10 million virtual real estate investment vehicle which has built a shopping mall in Decentraland.įor NFT enthusiasts, online fashion does not replace physical purchases.īut Paula Sello and Alissa Aulbekova, co-founders of the digital fashion start-up Auroboros, say it could be an environmentally-friendly alternative to fast fashion.Ĭustomers can send Auroboros an image of themselves and have clothing digitally added for 60 pounds ($83) to 1,000 pounds. Some proponents say wearables and shopping in virtual shops could be the future of retail, according to Reuters. V irtual sneaker made by digital fashion company RTFKT in collaboration with Atari, designed by the artist Retrocoin. In Decentraland alone wearable sales volume totalled $750,000 in the first half of 2021, up from $267,000 in the same period last year, according to, a website which tracks the NFT market. The overall size of the NFT wearables market is difficult to establish. His first purchase was a bitcoin-themed sweater and he recently bought a black beret designed by his friend. McEwan reckons he has spent $15,000 to $16,000 on 70 NFT wearable items since January, using profit from cryptocurrency investments. "Basically what you're wearing is what makes you who you are." "Your avatar represents you," said Imani McEwan, a Miami-based fashion model and NFT enthusiast. Gucci has sold non-NFT clothing for avatars within the game Roblox. LVMH-owned Louis Vuitton launched a metaverse game where players can collect NFTs, and Burberry has created branded NFT accessories for Blankos Block Party, a game owned by Mythical Games. The niche crypto assets are also capturing the attention of some of the world's biggest fashion companies, keen to associate themselves with a new generation of gamers - although most of their forays so far are for marketing. NFTs exploded in popularity earlier this year, as speculators and crypto enthusiasts flocked to buy the new type of asset, which represents ownership of online-only items such as digital art, trading cards and land in online worlds. ReutersĪfter making as much in those three weeks as he'd earn in a year at his music store job, he quit to become a full-time designer. Sneakers made by the digital fashion company RTFKT. He's a 23-year-old living in New Hampshire. While the idea of spending real money on clothing that does not physically exist is baffling to many, virtual possessions generate real sales in the "metaverse" - online environments where people can congregate, walk around, meet friends and play games.ĭigital artist and Japan-enthusiast Kai's real name is Noah. Vitamin K reduces the risk of atherosclerosisrelated cardiovascular diseaseĭubai to have 50 kilometre sand bike track at Mushrif National ParkĤ0-year-old slice of Princess Diana and Prince Charles wedding cake going up for auction Selling kimonos for around $140 each, he said he made $15,000-$20,000 in just three weeks. When the virtual world Decentraland said in June users could make and sell their own clothing for avatars to wear on the site, Hiroto Kai stayed up all night designing Japanese-inspired garments. People care what their avatars are wearing. Virtual clothing piece "The Blue Dragon Warrior" kimono, a wearable item.