Luxury brands have developed several outstanding solutions in the wake of Web 3.0. The latter refers to an advanced phase of the Internet that includes a blockchain technology ecosystem. People can use Web 3.0 as a foundation to create, buy, and sell goods such as NFTs.
High-end labels have been pioneers of the Métavers et NFTs market from the early stages. To illustrate, the first recorded sale of a fashion NFT was the Iridescent dress. It was realized by The Fabricant and sold for the equivalent of $9,500 in May 2019. NFTs and Metaverse constitute a fast-growing market, they are expected to bring $56 billion to the luxury sector by the end of 2030 .
But what is their role within a luxury experience?
In comparison with Web1 et Web2, it seems that it is finally Web3 that is revealing a meaningful source of value for luxury. According to Joel Hazan, Associate at Boston Consulting Group, the Métavers will provide the luxury industry the possibilité to bring its raison d’être to life in digital environments.
The Metaverse’s potential continues to be a popular issue among digital natives. However, one thing is clear: the main purpose of Augmented Reality, 3D technologies, and des NFTs, is to provide customers with more immersive experiences.