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Art Basel Miami was the first fashion test for Web3

Art Basel Miami was the first fashion test for Web3

At the annual Art Basel art event in Miami, high-end fashion labels may interact with wealthy collectors and pop culture icons. The fashion event has become a Web3 favorite as artists experiment with NFTs and Web3 residents gain sway.

Since brands have been experimenting with and developing Web3 and metaverse projects for more than a year, and the community is more eager (and able) to attend live events, this year’s series of fashion-friendly installations, parties, and promotions provided a true cross-section of how Web3 may influence fashion shortly. It encompasses more than just digital commodities, anonymous avatars, and virtual worlds. Timex collaborated with the Bored Ape Yacht Club community to develop limited-edition, customizable physical clocks. Prada sponsored a DJ performance for owners of its October NFT drop.

Laura Rodriguez, co-founder and presenter of Web3 media and consulting business The Miami Ape, who advised the Timex program, said, “Simply remind me of the myriad things established sectors may experiment with.” Adidas demonstrated how a major player uses Web3 technology to maintain brand consistency and provide creative channels.

An art week in South Florida may be a safer venue to experiment than a traditional fashion week in a major fashion city, since visitors are more used to and accepting of experimental concepts such as token-gating, AR try-on, and POAPs, which were all featured throughout the week.

Community advantages

Art Basel Miami was the first fashion test for Web3

During the NFT craze, labels such as Altuzarra offered NFTs as incentives for attending fashion shows or downloading applications (Adidas). As NFT ownership increases, businesses are rewarding loyalty, especially among those who have maintained their branded NFTs. This began during New York Fashion Week, but the fragmented and pessimistic view of the industry stifled practical innovation.

Attendees in Miami did not object to token-gated doors that let NFT holders access. DressX and The Fabricant sponsored a brunch for digital fashion enthusiasts at the Goodtime Hotel, enabling guests to enter with an NFT and depart with a POAP for future incentives. May this POAP have a speedier line next time?

The majority of PFP collection activities, such as Bored Ape Yacht Club and World of Women, were token-restricted. “Token-gated everything,” claimed Pierre-Nicolas Hurstel, CEO of Arianee. (Arianee and Vogue Business built a Members-only NFT for token-gating at an event in South Beach.)

“Prada Extends,” an event presented by electronic musician and Prada collaborator Richie Hawtin, nicknamed “Plastikman,” at the Faena Forum, was open to attendees of Prada’s October Timecapsule NFT drop, which featured a pricey, limited-edition shirt and an artistic NFT. (Prada invited a member of Crypted to a prestigious Milan Fashion Week event.) Many attendees said they were unable to purchase the October Crypted release since it sells out so quickly, despite the fact that many wore Prada. The brand may accept this, though.

analog and digital focus

In addition to attending events, community benefits included tangible objects and face-to-face interactions. Sofi Tukker performed unexpectedly during the World of Women event, which included a digital fashion design award ceremony. “Digital fashion and design should be portable, adaptable, and reflect each user’s whole digital imprint in Web3 and beyond,” says Diana-Luk Ye, manager of partnerships at World of Women. Since World of Women is the first big NFT brand geared at women, she argues that digital identities must be empowered in novel ways.

Balmain and visual artist Alexandre Arrechea produced a metaverse setting and project inspired by the 1950s Villa Balmain. Utilized were digital animations and Swarovski crystal masks.

Bored Ape Yacht Club NFT owners and admirers were invited to a Timex party on top of the Moxy Hotel in South Beach to network and see the new token-gated Bored Ape watches with augmented reality wearables. Locals were making their BAYC tournament debut. Rodriguez, a project consultant for The Miami Ape, wanted gold accents, a smaller watch face, and Ape’s exclusive intellectual property. BAYC provides all commercial rights.

Gmoney’s phygital, Web3 fashion firm, 9dcc, provided its community a new white T-shirt and rewarded networking. The NFC chips in the shirts prompted the recipients to offer POAPs throughout the week. (Gmoney patented networked products.) At Timex’s lunchtime and nighttime event for its clocks, several attendees wore new white 9dcc shirts, which are inconspicuous, but “if you know, you know,” according to Gmoney.

Rtfkt displayed Nike co-branded Venue Drip sneakers at The Gateway, a Web3 exhibition space built by the news website NFT Now in downtown Miami (sold as digital collectibles that people can physically “forge,” including an NFC chip). Instagram, Gmoney, and Christie’s were on display.

Web3 is not crypto

The failure of FTX and cryptocurrencies may reduce morale. However, fashion designers and investors perceived it as a cleansing that emphasized decentralization and set cryptocurrency apart from other Web3 use cases.

During a brunch hosted by the founder of Red DAO, Megan Kaspar, the director of Metaverse Fashion Week, Gigi Graziosi Casimiro, announced the March 28–31 edition of MVFW. MVFW will expand outside Decentraland to give businesses with additional time and assistance in establishing a presence. This year, Kaspar anticipates two “asset class” shifts: a split between centralized and decentralized finance (DeFi), and the hazards associated with transferring ownership to centralized third parties. Kaspar claims that NFTs as speculative investment assets are starting to differentiate from on-chain consumption goods. Rather than relying only on NFT technology for marketing, luxury fashion businesses should establish on-chain product channels. Since their physical goods are tied to smart contracts on the blockchain, 9dcc demonstrates that the market is ready for digital twins.

Daria Shapovalova and Natalia Modenova, co-founders of DressX, compared digital fashion to lipstick or a new entry-level product that may be a fan’s first branded product.

However, continued brand engagement is possible. Enara Nazarova, vice president of the metaverse firm Hype and developer for the Web3 fashion consortium, praised the community’s work. Nico Fara of the Fashion DAO desired more corporate participation beyond marketing, but Mutani co-founder Ann Claes desired an increase in creators. Claes said that some insufficient artists and innovators need a platform that would create stimulating conversations.

Patricia Gloum, the creative director of experimental advertising company Braw Haus, said that last week’s events prompted fashion designers and digital artists to create “crazy wearables.”

Holly Wood, founder, and CEO of Web3 consulting firm Hollywoodlabs.io, who collaborated with Felt Zine on the most recent Givenchy and Bstroy NFT drop, predicts that in 2023 there will be a significant increase in the prevalence of this trend. Web 3.0 permits co-creation, collaboration, and community.

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