Clothes and Crypto: The Overlap Between the Apparel Industry and Digital Assets
Mass production of clothing started in the 18th and 19th centuries with the rise of the Industrial Revolution. For centuries before leading up to this event, textiles, clothes, and the garments themselves were made in people’s homes. The wealthy would have their clothing made by a tailor, with the process taking quite a lot of time, especially if the items were particularly complex and involved a lot of embroidery and intricate details. Creating silk gowns, lace cuffs, silk stockings, ruffled shirts, and hats with trimming took time and skill, so getting new clothing would never be something that was done lightly, the way it is today, except for in the case of royal families.
Clothes would get mended and reworked all the time so that they were worn until they were genuinely falling apart at the seams. This isn’t something that only the common people did, as the wealthy had the same practices, reflecting the value placed on fabrics at the time. Charles Frederick Worth is largely regarded as the father of haute couture and the one who revolutionised the business of fashion. Since then, clothes have become much more accessible to everyone, not just the upper echelons of society. While this is a positive change in many aspects, it has also given rise to the phenomenon of fast fashion, which delivers clothes of subpar quality for incredibly low prices, causing them to be worn only a few times and then discarded.
Many activists stress the importance of changing the system in order to guarantee a clean and sustainable future for everyone. One of the systems that could help in this regard is the blockchain, a decentralised network known for the buying, selling, and trading of crypto tokens such as the ETH/BTC pair. But apart from its uses in the crypto ecosystem, the blockchain has the potential to help in many other ways.
Sustainability
Eco-friendly practices and sustainability are becoming increasingly important for companies and industries from all over the world as customers demand greener products and services. However, a lot of work still needs to be done, as the current systems can often not be reformed but have to be uprooted and changed altogether. This requires time, capital, and a commitment to upholding the new practices and ensuring their continuity. Integrating blockchain solutions into the fashion world can help with sustainability quite a lot, most notably by ensuring better transparency and traceability.
Blockchain allows apparel brands to trace raw materials and finished products alike, and it also guarantees the transparency of the manufacturing process. Since records cannot be changed or deleted once they are introduced in the system, the blockchain also guarantees that a product’s history is reliable and trustworthy. Although not all customers are ready to ditch fast fashion, an ever-growing number are looking for more sustainable alternatives and choosing to take their money to companies that can prove they care about the environment and employ ethical practices in the creation of their products.
The blockchain allows businesses to become more competitive in this sense, as the inclusion of sustainable corporate practices boosts enterprise reputation, enables brands to create comprehensive consumer profiles, identifies inefficiencies along the supply chains, and corrects irregularities. Decentralised ledgers can also be used to prevent counterfeiting, which has become a serious issue for premium and luxury brands over the last few years, to guarantee that customers pay for and receive the real deal.
Crypto and NFT sneakers
Although it may seem like the fashion world and cryptocurrencies don’t have all that much in common, the former has actually begun incorporating quite a lot of practices from the latter. NFTs and crypto payments have become increasingly popular so that shoppers can get their garments in digital format and pay for clothes using their digital assets. The Bitcoin-themed sneakers released by Donald Trump as part of a limited edition are one of the latest examples of clothing drawing inspiration from cyber holdings. Pairs are already listed on online marketplaces such as eBay, with scalpers looking to sell theirs for as much as $2,500.
Move-to-earn game Stepn recently announced a partnership with Adidas that will see them co-releasing sneaker NFTs on Solana. The collaboration is set to be long-term and provide the user community with a unique experience, as the non-fungible tokens promote active lifestyles and good health due to their background. Luxury fashion powerhouse Louis Vuitton announced that they will release a varsity jacket worth roughly $8,400, which will be both a real, physical piece of clothing and an NFT that can be collected digitally. The jacket was designed by musician, producer, and designer Pharrell Williams and is part of an ongoing NFT project.
The jacket is made of suede buckskin and sports the brand’s embroidered logo. It can be purchased via a token-gated website (a Web3 development that provides crypto holders with access to exclusive events, content, and other benefits), and the physical versions will be shipped in November and December.
Metaverse Fashion Week
The second edition of the Metaverse Fashion Week saw attendees facing issues as the event’s Mac app didn’t work, and neither iPhones nor iPads could be used. In addition to the show, Alo Yoga held a meditation workshop that included breathing techniques, Reiki practices, and, of course, yoga. Digital boutiques were full, as people wanted to collect free clothing. The Luxury
District features large brands, with DKNY having a four-story boutique equipped with a pizzeria, club, and bar. Dear Vivienne, a location dedicated to Dame Vivienne Westwood, whose contribution to fashion design brought new wave and punk fashion to the mainstream, could be visited as well.
Adidas has a boutique and a show, with players having the chance to acquire a free jacket. One of the highlights came from American luxury fashion house Coach which presented a tabby bag.
Although most fashion lovers are not yet fans of the blockchain as well, there’s no doubt about the fact that this will change in the future as the technology becomes more accessible and it becomes simpler for members of the general public to interact with systems such as these.
