Wearable NFTs contained in virtual wardrobes is the future of clothing but unlike physical threads, all pixels are created equal.
Quality will no longer be a competitive advantage and differentiating factor exclusively held by luxury brands.
No longer will big clothing brands be able to colonize supply chains to corner small players out of the market.
When it comes to virtual wearables, the only limiting factor will be the extent of imagination in concepting new products.
This opens the doors wide open for all kinds of new brands to establish themselves in a digital wearables market that will soon come to surpass the size of the physical wearables market (aka clothing and accessories).
Big Brands will be some of the first to enter based solely on their financial advantages and human resource capacity but they will no longer hold the same appeal as their brands once did in the physical world.
Why buy a Nike shoe NFT when you could pick up some new age Space Runners instead?
What’s interesting here is that the script will flip for Big Brands who will need to be the ones competing on price and volume while new brands take the lead on driving niche innovations and market creativity and charge above market prices that our fellow creators are happy to support.
Consumers will increasingly seek to support each other rather than billion dollar multi-national corporations and in this find a wide spectrum of creative and satisfying options.
Sure it may take some time to eliminate our addiction to massive corporations who exploit low cost child labor (ahem… still looking at you Nike and every fast fashion brand on the planet @H&M and @Zara) to make their physical goods and instead support independent creators who aren’t causing mass scale harm and human suffering in our world.
We will vote economically with our crypto wallets for brands who support the values we do and no longer be beholden to limited physical options that have long been colonized and blocked from innovation through Economies of Scale advantages.
You may even find mass strikes from the 3D Designers and Virtual Engineers increasingly populating the world’s largest companies effectively cutting off these brands from the lucrative virtual commerce market and forcing change on a mass scale when their employers do things like support and enable the spread of dehumanization and genocide (looking at you Meta).
The power and control of the future will shift from our current corporate overlords into our own hands.
The real question is, will we use this power responsibly and for the good of all or continue to ignore the bleak realities our purchasing decisions create for others in this world (big brands are some of the worst offenders but we are the ones enabling them so don’t think you’re off the hook here dear reader!).
The world will become one giant free flowing commerce game and those prepared for this future will not only reap all the rewards but will have all the power.
Make sure you get your piece and let’s all prepare to increasingly live the change we want to see in the world.