Metaverse

Gap and Selfridges are getting on board with the metaverse

Like other brands who are embracing NFTs, Gap and Selfridges are taking part in the metaverse. Gap’s NFT collection will launch in the next two weeks, with digital assets available.

gap metaverse

Brands ranging from Gucci to Taco Bell produced their own NFTs last year. When Facebook became Meta and unveiled its second life, luxury and performance footwear labels like as Balenciaga and Nike dipped their luxury and performance footwear into the metaverse fashion. The trend continued this week, with Gap and Selfridges becoming the latest shops to announce ventures into digital assets.

The blockchain train: Over the next two weeks, Gap’s “gamified” NFT collection will be available, delivering digital assets at four “tiers” and price points ranging from $8 to $415,”. “With an auction for unique products”. The project comes on the heels of the recent announcement of the Yeezy Gap and Balenciaga partnership, which sparked comparable interest. According to a corporate spokeswoman, “the launch is a test in the NFT space.” “In a fast evolving digital landscape, Gap Inc. is exploring innovative ways to offer our brands […] to new and existing customers.”

Meanwhile, Selfridges is collaborating with Paco Rabanne to combine exciting in-store pop-ups and in-store art exhibitions with extra digital items. Today, the British shop is presenting archival Paco Rabanne apparel. As well as a series of 12 “wearable” NFT pieces priced between £2,000 and $100,000. Selfridges has refused to comment.

“It is too early to tell who is making smart business decisions and who is not. Everyone wants to get on the bandwagon right now “Michael Felice of Kearney stated. “Many people will invest in order to be a part of the race, but without a defined strategy. However, if they do not enter the race with a defined strategy, the jump will be for naught.”

For MetaNews.

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Jonathan Hobbs

Jonathan Hobbs is an Australian investor and author that trades on a variety of asset classes, including currencies, equities, and commodities. Jonathan’s experience as a macro trader leverages his unique writing style to combine important elements, such as technical analysis and news. The other elements that he brings into his unique writing styles are foundation analysis aimed at rational equilibrium values, evaluating the sizes and motivations of buyers and sellers, as well as identifying the needs of the buyers and sellers in the individual markets. Jonathan is committed to quality writing for new traders as well as veterans.

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