NFTs are something that is quite important given that we are moving into a future where NFTs have their own speciality. It has grown to such an extent that several NFT marketplaces in India have been influenced by it. The fashion industry in particular has benefited greatly from this and has managed to capitalise greatly on the NFT trend by using it as a medium through which it can increase sales exponentially with a twist that is added to it with the help of something unique. NFTs basically are that unique element that boosts the reach of the fashion industry.
Application of NFTs in the fashion industry
Well to give it quite straight, several brands like Adidas, Nike, and even luxury brands like Gucci and Louis vuitton have heavily invested in the digital asset sector which now is known as NFTs. The objective that these brands planned to achieve is basically making NFTs an item that can be showcased in the metaverse in digital property that is owned by these individuals. They end up becoming something that is one of a kind and if they ever were bored with it, they could go to the shop and burn It to get the actual item.
Conclusion
With all that being said NFTs are basically a marketing tool that is used by several different people with the sole purpose of increasing the reach and venturing into the web3. These NFTs can act as stand ins for the real things or until they are received by the person who placed the order.
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