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NFTs: spending real money on virtual clothing – madness or opportunity?
- Saturday | 14th August, 2021
While the idea of spending real money on clothing that does not physically exist is baffling to many, virtual possessions generate real sales in the “metaverse” – online environments where people can congregate, walk around, meet friends and play games. For NFT enthusiasts, online fashion does not replace physical purchases. But Paula Sello and Alissa Aulbekova, co-founders of the digital fashion start-up Auroboros, say it could be an environmentally-friendly alternative to fast fashion. Virtual sneaker company RTFKT sells limited edition NFTs representing sneakers which can be “worn” in some virtual worlds or on social media via a Snapchat filter. “I didn’t do the redemption stuff because I couldn’t be bothered,” said Jim McNelis, a Dallas-based NFT buyer who founded NFT company, nft42.
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