Digital prestige and wealth. NFT the future of luxury?

NFT tokens took the Internet mainstream by storm and very quickly won the hearts and wallets – especially of young people. It seems to be over now. The fleeting fad lasted two years, and only unique but worthless scraps of code remain in the digital wallets of non-exchangeable token lovers. However, just because we don’t hear about non-exchangeable tokens for the time being doesn’t mean it was a temporary trend. At a time when the market NFT there is a capital drought, large companies are beginning to invest in this technology with a clear long-term focus.

More and more of our lives are slowly being recorded in digital form. We used to go out to the movies, today we “go in” on the Netflix. We used to go shopping, and today we visit online stores. It used to be that in order to talk, we had to meet – today we are in touch 24/7 via voice and text messaging. The physical meeting has not yet become a relic, fortunately, but – like it or not – everything is moving towards the fact that going out to a party, a possession or a coffee will not require leaving home either! This is thanks to, among other things, the fledgling metaversum (virtual reality) technology, as well as NFTs.

New world, old rules. Metaverse users surround themselves with digital luxury

According to NFTevening,com -. metaversum Decentraland is visited by 8,000 unique users each day. The Sandbox metaverse, on the other hand, recorded a digital population of 1 million unique users in all of 2022. And these are not the only such platforms – Meta, among others, is working on its own, which even suggests that the company is abandoning the Facebook name as generic for a conglomerate of several large social media platforms, i.e. Instagram, Facebook, WhatsApp, among others.. Visionaries – such as Mark Zuckerberg, founder of Facebook – see the future in the metaverse. They also see it exclusive Brands that are moving their physical collections to the digital world. Ba they are even opening their stores there!

By transferring real life to the virtual world, people are also taking their natural instincts there. At this point – and probably for a very long time, if ever – physiological needs will not be satisfied in virtual reality. Others, on the other hand, can and are already being satisfied – such as the need to stand out in a crowd and the desire for limited or unique items. NFT technology has provided an opportunity to secure uniqueness – to make a digital item unique.

NFT Token – secured by blockchain (blockchain) cryptography – can be a kind of certificate of authenticity, the first one that is unalterable and truly unique. Digital reality makes it easy to assign it to the digital object it is meant to represent. This is why well-known, prestigious brands – automotive, clothing, fashion, and even banks – are appearing in large numbers in various metaverse! If a well-known fashion brand sells one of its collections in NFT form, it is possible to digitally represent it. Thus, avatars (characters) of metawersum users can be “clad” in Nike shoes, Adidas, Hilfiger clothing, and carry a handbag from the Louis Vuitton.

Prestige hidden in code. Global brands are buying up “land” in the metaverse

However, that doesn’t mean anything yet, does it? Well-known brands may have simply capitalized on the NFT and metaverse fad while it lasted roughly from 2021-2022. Meanwhile, the aforementioned brands, and many others, are opening their “stationary” showrooms in various metaverse locations. Plots of land in digital metropolises have already been bought up by such giants as Adidas, Gucci, Tommy Hilfiger, Nike, Burberry and Louis Vuitton, among others. Utility space has also been bought out by Korean tech titan Samsung. JP Morgan and HSBC banks have also done so. Even NFTs of cars have already appeared in the metaverse. and their digital counterparts – such as Acura, a premium brand owned by Japan’s Honda Motors. Other brands – such as Ferrari and Lamborghini – have released or are planning to release NFT collections. In the future, in all likelihood, they will also open their showrooms in the metaverse.

Certainly not all “virtual worlds” will succeed. Many of the key players are still under construction – like Mark Zuckerberg’s famous creation. However, it is possible to see that this is not a fad, but a metaversum combined with VR, NFT tokens, cryptocurrencies, artificial intelligence and other technological innovations have the potential to become part of the landscape of our future.