The year 2021 has demonstrated mainstream interest for NFTs, but fashion brands will have to provide consumers with utility behind nonfungible tokens moving forward
Nonfungible tokens, or NFTs, have become one of the most discussed markets in the crypto space this year. A recent report from Cointelegraph Research found that NFT sales areThis may very well be the case, as a number of mainstream brands have begun launching NFTs.to recent research from Bain & Company and the online luxury fashion platform Farfetch, digital interactions with consumers are becoming increasingly important for brands.
It’s become clear that fashion NFTs must offer some type of consumer engagement, allowing brands to interact with individuals in both the physical and the digital worlds.
The 18-year-old fashion label Mishka has also entered the NFT space with its famous eyeball logo. The collection of 6,696 NFTs is known as"The Keep Watch Crew,” or “KWC” for short. Greg Mishka, founder of Mishka NFT and the Keep Watch Crew, told Cointelegraph that Keep Watch is the most iconic and well-known branding element of Mishka, for both fans and the streetwear and fashion community.
This is why it shouldn’t come as a surprise that a mainstream fashion label like Coach gifted NFT holders with physical made-to-order rogue bags. Interestingly enough though, Akkineni mentioned that sometimes NFT holders don’t redeem their physical items, which has proven to be the case for other drops associated with consumer-facing brands.
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