The Metaverse proved to be a fascinating territory for the luxury industry. This has been confirmed by the growing number of strategies implemented by high-end brands. Lately, NFT drops, Metaverse activations, and NFT collaborations between artists and brands are on the rise. Therefore, could we say that all these initiatives might represent the long-awaited convergence between luxury and technology?
The introduction of NFTs has shaken up the digital universe. Indeed, NFTs have introduced the concept of scarcity and ownership in the digital world, which was previously known for its profusion and universality.
The Metaverse is an immersive virtual environment where users can experience everything from joining communities to discovering new brands and products.
NFTs and luxury boast several commonalities. In particular, we can list rarity, exclusivity, social status signaling, and prestige as the most relevant ones. A wide variety of Luxury Maisons have already experienced this universe, where they seem to progress with ease.
Discover and luxury products share another mutual element: the enthusiasm around their release. Both involve expertise and creative processes that take time to design and create hype around their launching.