Non-fungible tokens (or NFTs for short) have opened up a new window of opportunity for the fashion industry in the video gaming industry. Fashion NFTs in video games and the metaverse enable players/consumers to obtain, wear, collect and even buy and sell fashion items online. Fashion NFTs are being described by many as tokenised wearable items.
To reduce their carbon footprint, major fashion shows from around the world in locations such as London, New York, and Paris have moved their fashion shows online, and this could be extremely vital for today’s fashion industry. Can NFT fashion find its place in gaming? Find out more right here.
What are non-fungible tokens?
Non-fungible tokens, also more commonly referred to as NFTs, are digital assets that appear as intangible and tangible items. For example, they can be digital media items, digital pieces of artwork, or other similar digital content. They can also be described as virtual tokens or items that can be purchased with cryptocurrencies and represent ownership of various digital items.
You can find a few examples further down. They are created using blockchain technology, the same programming used by cryptocurrencies. Each NTF comes with a unique digital signature used to determine proof of ownership. If you’re still confused, join the queue. It all sounds a lot more confusing than it actually is, though.
When an NFT has been purchased in a video game or in the metaverse, the data for that transaction will automatically be stored on a digital ledger known as the blockchain, and then it can’t be manipulated or changed. In other words, the data hidden inside an NFT is non-interchangeable.
Can you get NFTs at online casinos?
Unfortunately, you cannot yet purchase NFTs at online casinos, but it might not be too long before you can. However, you can claim new free spins offers and other fab bonuses right now by heading over to the official New Casinos website.
Examples of NFTs
Now, let’s take a quick look at a few examples of what NFTs can be. NFTs can include a variety of collectibles, and some of the most common NFTs that many of you may already be familiar with by now are the following:
- Digital fashion items (e.g., sneakers/trainers, sunglasses, hats, gloves, etc.)
- Video game skins and virtual avatars (e.g., purely aesthetic outfits or a graphic download that changes the appearance of a video game character/avatar)
- Miniature pieces of digitized artwork
- Video highlights
- Sports highlights
- Sports memorabilia
Which global fashion houses and brands have developed NFTs for gaming or hosted fashion shows?
Some of you may be surprised to learn that several of the world’s most iconic fashion brands have already developed NFTs, and many of the major fashion houses have already hosted virtual fashion shows. More surprisingly, these events have been a huge success, and many video gamers now own their own fashion-themed NFT.
Sales of fashion NFTs have never been higher, and it looks as though NFT Fashion has already found a new home in the gaming industry. Examples of the companies that have developed fashion NFTs include:
- Nike (Nike-owned RTFKT)
- Louis Vuitton
- Dolce & Gabbana
- Jimmy Choo
Other honorable mentions
You can also now find fashion-themed NFTs from the likes of Tiffany, Prada, Nars, Gucci, and Clinique, to name just a few. When you buy an item from a trusted seller, such as one of these iconic fashion brands, you will also receive property rights to the items that you purchase. The value of each NFT can also change. Sometimes the values can dramatically decrease, and other times, they can skyrocket.
Your NFT might be worth $100 one week, and then a few months later, it could be worth $7,000. Or, you may purchase one for $1,000, only for it to be worth $20 if the price crashes. Property rights help to drive up the value.
From which games can I purchase fashion NFTs?
One of the most notable games where you can purchase fashion NFTs is Minecraft. You can also now purchase them in many other games from Atari and Microsoft. For example, they can be purchased in Axie Infinity, Splinterlands, The Walking Dead: Empires, Gold Fever, Illuvium, Gods Unchained, Battle Racers, and Alien Worlds, to name just a few.
If you’re looking for something completely different and decide to claim free spins when you sign up to an online casino, don’t forget to check out a popular new NFT-themed online slot machine called NFT Megaways. It was developed by a company called Red Tiger Gaming, and it was the world’s first NFT-themed slot that features CryptoPunks.
It has 6 reels and up to 200,704 different ways to win per spin (aka Megaways), and on any lucky spin, it’s possible to win up to 10,000x times your stake. However, to play this game in real money mode, you must be at least 18 years old.