Many goods, including those from Nike, Dolce, and Gabbana, and fashion digital natives’ businesses, are paving the way for the met averse (Sayem, 2022). Digital clothing design allows consumers to gather and style products while allowing firms and designers to monitor their production. The process of making actual clothes serves as inspiration for fashion design, which is combined with an endless design aesthetic.
A men’s trendy retail business that focuses on men’s garments and accessories is called Estudio Niksen. Andres Barrios and Gaby started it in 1995. Its main office is located in Montreal, Canada. Additionally, it conducts business all over North America. An idle mind is a creative mind, according to the phrase “mantra” (Joy et al., 2022). Men’s all-weather attire and accessories are the main focus of Estudio Niksen.
Numerous measures are conducted to build a distinctive value proportionate to the brand mentioned above. These actions are meant to help a brand discover the fundamental elements of its business strategy. The first and most important stage is establishing a value proportion (UVP) (Gonzalez, 2022). The issue with the customer should be recognized, understood in detail, and addressed with solutions. It is important to consider the advantages of clothes, such as how it encourages interest in the brand, help the business, and allows devoted customers to spread the word. It is important to determine the advantages’ fundamental value and ensure the clients know them. Being distinctive will allow the business to advance differently than any other industry.
Step two is creating and distributing Non-Fungible Tokens (NFTs). It is intended to be utilized with the product’s pre-launch promotion. Decentralized finance platforms, which can be used to source money from the launch through tokens based on cryptocurrency, are also done after this step (Sayem, 2022). It is crucial to engage partners who are NFT experts. This will have the advantage of generating capital without reducing equity.
Step three is leveraging blockchain-market places. Thanks to cryptocurrency usage, the business can market trendy goods that expand its audience and prevent expensive transaction fees and chargebacks (Joy et al., 2022). Additionally, it enables the pharmaceutical industry to track pharmaceuticals together with the complete supply chain, making thefts more difficult and allowing for the quick detection of abnormalities. Among the ways a business might use blockchain without becoming wholly decentralized is to store and distribute documents. Intellectual property rights can be tokenized using NFTs, with the help of smart contracts for efficiency and automation, and by using Bitcoin.
Step four is building a community. Building a community around the business using blockchain-based social networks is essential after effectively utilizing blockchain-based marketplaces (Gonzalez, 2022). These benefits include improved target audience interaction and a simple approach to building a following. Because they need constant feeding and care, communities are difficult to understand and construct. The company can still establish relationships, respect, and importance, which will help it function successfully.
Rarible is a business that used web3 to promote trade effectively. It has created an NFT marketplace that accepts cryptocurrency on the Ethereum blockchain. It employs decentralized autonomy to include all individuals in decision-making (Joy et al., 2022). Rarible offers tokens that serve as a creator’s social capital in addition to using royalties made possible through NFT training. Rarible has developed platforms enabling members to engage in digital trade by employing web3 applications. Utilizing blockchain has increased market security and transparency, encouraging audience interconnectedness and revenue growth.
References
Gonzalez, P. (2022). Digital fashion in the Metaverse.
Joy, A., Zhu, Y., Peña, C., & Brouard, M. (2022). Digital future of luxury brands: Metaverse, digital fashion, and non‐fungible tokens. Strategic change, 31(3), 337-343.
Sayem, A. S. M. (2022). Digital fashion innovations for the real world and metaverse. International Journal of Fashion Design, Technology and Education, 15(2), 139-141.
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