It may be hard for some to imagine an industry as old as fashion connecting with new technologies, but the reality is that there are more connections than you can imagine, since innovation and fashion always go hand in hand, and NFTs are no exception. In a previous article we told you about the different types of NFTs and how some of them were linked to fashion, so since El Dorado we have further explored their applications and how they can shape the not-so-distant future.
The current fashion industry generates around 3 trillion dollars Yearly, however, is plagued by problems of sustainability and inequity, (It is one of the most polluting industries and those who manufacture fabrics or garments tend to earn unfair salaries). These problems could be solved by digitizing and tokenizing clothing, which would avoid the massive use of limited resources and would allow for a more decentralized and transparent model in the process of making clothes and accessories.
In principle, virtual clothing is an element that is gaining a strong presence in the Metaverse, since like any virtual world, the customization of avatars is an essential part of them. However, what this trend points to is a future in which physical garments are almost completely replaced by their digital alternatives. But,
Why prefer virtual clothes instead of those made with traditional fabrics?
In addition to considerably reducing the environmental impact, it opens up a world of new possibilities in fashion, with new combinations never seen before emerging; it would only be enough to have a special outfit, so that various sensors can project any design you have purchased through augmented reality.
You no longer need to have a large closet full of clothes; they would be stored on your smartphone or some storage device. 'Did you like the digital design that someone else was uploading? You don't even need to ask where you bought it! It would be enough to scan it to be able to try it on and purchase it. Faced with these possibilities, the wear-to-earn model emerges, which is quite similar to play-to-earn, where you are rewarded with tokens for playing and achieving certain objectives.
What is wear-to-earn?
Wear-to-Earn is a model in which designers, brands and retailers focus on creating collections that include rewards for users that they buy and wear the garments. These rewards can be granted through tokens (fungible or not) with a monetary value, access to items, exclusive events and even physical pieces.
Given this, Megan Kaspar, CEO of Magnetic Capital and member of Red DAO, predicts that Digital fashion NFTs will be the largest NFT category in web 3.0. This is thanks to its diverse applications, so this model bodes well for profitability in a future in which augmented reality and virtual worlds are becoming increasingly important.
But?Why reward users for just wearing clothes or accessories? For the same reason that games are incorporating play-to-earn models! Encourage their use and loyalty through the creation of a community in which tangible value is provided to each member.
Although this model is only in a conceptual phase, There are already pioneering projects in digital fashion which are capitalizing on millions of dollars, the attention of investors, designers and experts in new technologies. So below we will tell you about some of the most outstanding projects in virtual fashion, which are committed to the metaverse and augmented reality.
DressX
This is one of the most innovative and advanced projects at the moment, because offers great realism and allows you to enjoy digital fashion at this precise moment, just visit On the web, upload a photo of yourself and start testing your innovative pieces. These designs are available for virtual use only, and although they are designed with digital fabrics, more than one will surprise you due to their similarity to traditional fabrics and materials It's hard to believe that they're just digital creations!
While there are a couple of free options, his collections are collaborations with emerging and renowned artists, so you have to pay to buy most of their clothes and share the images on your social networks.
Among their plans for 2022 is to launch their own NFT marketplace, where we may start to see wear-to-earn alternatives.
Runway NFT
This platform promotes herself as the first fashion project “Phygital” (a combination of physical and digital English words). Through 3DReal technology, it brings designers closer to the metaverse, allowing the creation of wearable NFT. Last December, they already held their first show in the Decentraland metaverse, allowing users to wear digital versions of physical clothing through non-fungible tokens with more affordable prices compared to their physical versions.
It is important to stress that, a portion of sales are donated to charitable organizations, through smart contracts in perpetuity, guaranteeing transparency and access to an economy with a fairer redistribution of income.
Space Runners
This is a fashion brand oriented to the metaverse, which launches open-sourced items in NFT format that are created in collaboration with artists and other brands, each accessory can be used in different metaverses and games, which differentiates it from other projects that only focus their efforts on a single platform. In addition to providing style in virtual worlds, it offers benefits to its holders; such as access to events with celebrities and athletes who collaborate with the brand, so their vision includes a wear-to-earn model in which people gain access to events exclusive to purchase the brand's accessories.
How to make money with wear-to-earn?
At the moment, the convenience of earning money through wear-to-earn lies in resell unique pieces through secondary NFT marketplaces. Since currently the rewards granted directly by virtual fashion brands are focused on access to events, however, 2022 may be the year in which we begin to see the release of tokens that are used to reward the most loyal users.
In fact, Sebastian Borget, co-founder and chief operating officer of The Sandbox, said that the platform will soon add wear-to-earn NFT options to many of its games, so The more time players spend using the avatar, the more they can win.
From El Dorado we are attentive to those projects that they are getting closer to becoming a reality, to then provide you with the option of exchanging your tokens for other cryptocurrencies or your local currency. In the meantime, you can access our platform for acquire other cryptocurrencies using +30 payment methods.
