What is Web3 & how does it affect fashion & beauty?

Web3 is the third major evolution of the internet. Through blockchain-enabled advancements such as NFTs and cryptocurrencies, it encompasses both new technology and a new culture for fashion and beauty, characterised by decentralisation, co-creation and co-ownership. Here’s what to know.

How are fashion firms entering Web 3?

Lacoste launched an NFT project that gives owners the opportunity to co-design upcoming products. The Council of Fashion Designers of America (CFDA) announced the launch of its metaverse and NFT partnership and educational program. These are just a handful of examples of the ways in which fashion firms are entering Web 3.0.

What is Web3 used for?

The most high-profile fashion use for Web3 technologies has been digital collectibles, including NFTs of artwork, digital fashion and digital twins (which are paired with a physical counterpart in some way).

Is the fashion and luxury industry putting long-term Web3 strategies into practice?

Never afraid to innovate,the fashion and luxury industry is putting long-term Web3 strategies into practice. The goal? To go beyond the hype and embrace the future, and so should you. Don’t stall or slow down your efforts to innovate simply because NFT prices fluctuate.