Getting ahead of time — Is foraying into metaverse the next big thing?

Thinking about buying those new pair of Jordans or eyeing that Birkin bag since forever, well you might want to hold onto your desires a little longer. Your favorite fashion and luxury houses are foraying their way into “web 3.0 — The metaverse” where users essentially live within a digital universe creating a new market for digital fashion, where users can style their virtual 3D representations aka avatars for different occasions designed by different creators.

Adidas is launching an NFT collection with exclusive access to streetwear drops; Nike bought a company that makes NFTs and virtual sneakers; Gucci, Balenciaga, and Burberry are spinning up digital fashion and accessories. The fashion and luxury houses are some of the early movers into metaverse, making their mark while its still fairly new. No wonder Morgan Stanley claims that NFTs and social gaming could expand luxury group’s total addressable market by more than 10 percent in the next eight years.

A digital marketplace for fashion and luxury items — Thoughts to reality

Keeping up with the latest developments in fashion and luxury marketplace and the intent to capture the Generation Z consumers who are believed to be the first movers into the metaverse, Jigen, which is the first NFT gateway for fashion and luxury items has truly captured the opportunity to build a bridge to the world of NFTs for fashion and luxury brands.

What is Jigen?

Jigen is the first NFT gateway for fashion and luxury items in the metaverse and gaming ecosystem which seeks to solve typical issues that brands face such as counterfeiting using blockchain technology. It currently focuses on 3 key target areas: building its own brand, exclusive NFT exhibition through its launchpad and custom NFT works for brands.

The most intriguing part is, all NFTs on Jigen platform are backed by real world luxury assets giving users the liberty to redeem the physical asset at a point in time or hold the NFT for investment purposes.

By providing brands a launchpad to bring their unique digitized designs to NFT markets and allowing users to buy tokenized versions of these exclusive fashion and luxury designs, Jigen has truly created an innovative ecosystem for brands and buyers providing an immersive experience of both offline and online world without any friction.

Enormous possibilities awaits for both brands and customers and with both NFTs and fashion coming together, the way we experience fashion and luxury today is going to transform drastically paving path for a completely new innovative fashion and luxury industry. As Gucci’s Executive Vice President rightly highlighted “Immersive digital world signals a paradigm shift for luxury brands and expects it to drive a ‘very significant new revenue stream’ for the brand in the years ahead” its time for brands and businesses to stay on top of this revolution to thrive and progress.

About Jigen

Jigen is an NFT launchpad and gateway for the fashion and luxury industry built on the blockchain. We want to become the premier brand of the metaverse. Originating the latest strategy of building hype for a fashion and luxury brand within the Cryptoverse.

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References:

1. https://www.businessoffashion.com/news/technology/metaverse-a-50-billion-revenue-opportunity-for-luxury/

2. https://www.businessoffashion.com/articles/luxury/the-state-of-fashion-2022-bof-mckinsey-gucci-robert-triefus-metaverse-virtual-nft-gaming/

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