Wearable NFTs – Just When You Thought It Couldn’t Get Any Weirder
Wearable NFTs are the latest trend in the fast-growing and exciting non-fungible tokens market.
Forget about showing off luxury brands in the real world. Nowadays, more and more people want to be seen and show off in the virtual world.
NFT attire is starting to gain cult-like fandom in the NFT space, but why are people spending real money to buy so-called “wearable NFTs”?
What Are Wearable NFTs?
To understand the concept of wearable NFTs, we must first view the NFTs space holistically. Presently, on the Ethereum blockchain, there are a number of open virtual worlds such as Decentraland and Cryptovoxels.
These blockchain-powered worlds allow users to attend events, meet with friends, play games and buy a variety of NFTs, including name NFTs, virtual land NFTs, and - you guessed it - wearable NFTs.
While land NFTs provide the owner with space inside the virtual world which you can lease, build or resell to another party, name NFTs can be used to name your digital avatar or use it as a payment address.
**Wearable NFTs are virtual shirts, jackets, sunglasses, jeans, hats, sneakers, and accessories that you can put on your digital avatar. **
While the idea of spending money on clothing that does not physically exist may sound puzzling to many, wearable NFTs are generating real sales in the metaverse, where people can stroll around, congregate, play games, and enjoy events.
In other words, wearable NFTs offer a new way to express yourself, an individual piece of walking art, which can also be worn as a status symbol.
In the same way that digital scarcity is changing the way creatives monetize their art and music, wearable NFTs will also benefit from brand awareness and scarcity.
Brace Yourself, Wearable NFTs Are Coming
NFTs became popular early this year, as crypto natives, collectible lovers, and speculators rushed to buy this new type of asset that represents ownership of unique virtual or physical items.
Having said that, it’s currently difficult to give a true picture of the wearable NFTs market. According to numbers from NonFungible.com, a site that tracks the NFT market, Decentraland recorded $750,000 in total sales volume in the first half of 2021, up from $267,000 in 2020.
**Wearable NFTs are getting the attention of some of the world’s largest fashion companies that are keen to exploit the space to market their business. **
For instance, Burberry has created branded wearable NFTs for Blankos Block Party, a game owned by Mythical Games. Louis Vuitton recently launched a metaverse game that allows players to collect NFTs.
Perhaps, the most interesting thing about wearable NFTs and shopping in virtual shops is you can have a more immersive brand experience by exploring the metaverse, regardless if you are buying an online avatar or purchasing physical products that can be delivered to your doorstep.
Proponents have also argued that wearable NFTs could reduce the waste of customers purchasing clothes to wear on social media. An example would be RTFKT, a virtual sneaker company that sells limited edition NFTs representing sneakers that can be worn in some virtual environments or on social media through a Snapchat filter.
The company’s NFTs can also be used as a token to obtain a real-life version of their sneakers.
Already, digital artists, big brands like Atari, and crypto exchanges like Binance and Kraken have created wearables for Decentraland. Expectations are high that more big brands will join start offering wearable NFTs for people to show off in the metaverse.
Where to Buy Wearable NFTs
You can buy and sell wearable NFTs in the Decentraland virtual world. You will find there are five different rarity categories, namely:
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Mythic
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Legendary
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Epic
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Swanky
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Uncommon
You can purchase Mythic wearables in editions of 10, while you can buy Legendary, Epic, Swanky and Uncommon wearables in editions of 100, 1,000, 5,000 and 10,000, respectively. Interestingly, if you join the Decentraland virtual world your avatars come preloaded with a number of free wearables. However, you may soon find yourself itching to buy rarer virtual items.
You can also buy wearable NFTs on Watch Skins, which is an NFT marketplace where you can exchange, configure and customize your luxury NFT brands. In this case, the brand in question is Crypto Watches.
The Watch Skin NFT wearables app links your connected watch and smartphone to the blockchain by utilizing NFTs in an original and innovative way. This merger of wearables and the Internet of Things has been relatively unexplored and it’s only natural for WatchSkins to begin offering a variety of customizable interface collections.
Alternatively, if you are an online fashion enthusiast, you can send Auroboros, a digital fashion startup, an image of yourself and have wearables added for £60 to £1,000.
Easily Access NFTs Using Trust Wallet
Trust Wallet allows you to store all your NFTs on Ethereum and Binance Smart Chain securely in one place.
What’s more, you can access NFT marketplaces and virtual worlds using the in-app DApp Browser (for Android) or the app’s WalletConnect function (for iOS).
Moreover, you can use Trust Wallet to mint, buy, sell, and collect non-fungible tokens, ranging from crypto collectibles, and digital art to virtual land and wearable NFTs.