Fashion houses are releasing less NFTs – surprisingly, this is a good thing for the NFT market. 

Prestigious fashion houses and brands have released fewer NFTs in 2023 than previous years. At first glance, this might sound like a bad thing for NFTs. Some could say that it’s indicative of the dwindling popularity of NFTs, or non crypto natives passing on NFTs all together.

But, it could represent fashion houses taking NFTs more seriously. Analyst Martha Bennett from Forrester says that the days of NFT stunts are over. In the long run, this is better for NFTs because what we’re seeing replace these stunts is far more interesting.

We are now witnessing fashion brands integrate NFTs within their strategy and brand image — rather than using NFTs for shock value — or because their competitors have. For some brands, NFTs have become a crucial part of their business. Gucci, Louis Vuitton, Prada and Dior have all released incredible NFT collections to enhance and reward customer loyalty and create interesting experiences.

Today, we are seeing fewer brands release NFTs for the sake of it. Rather, more fashion houses are thinking about the specifics of NFT utility. Brands have begun integrating NFTs through enhanced authentication and access to additional digital and physical perks.

Take the recent BAPE x Adidas shoe collaboration, for example. The iconic brands have created a limited edition trainer, which can be purchased via an NFT access pass. Once redeemed, users can wear their kicks in the metaverse, or scan the NFC tag to authenticate the IRL shoes.

Overall, it seems like a positive thing to us – but what do you think? Let us know in the comments below.

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